Presentation on theme: "THE ICON CAPE TOWN. Location Prime position in the heart of the financial sector of Cape Town CBD. Investec, Absa, International Convention Centre and."— Presentation transcript:
Location Prime position in the heart of the financial sector of Cape Town CBD. Investec, Absa, International Convention Centre and the V& A Waterfront are some of the neighbours within the immediate vicinity.
The Icon was nominated for the Good Hope FM’s Best of Cape Town Awards 2008 ‘Best Architectural Design’ Architecture
Contemporary design by DHK Architects Condominium Hotel operating off Residential Stock Retail Ground Floor has Food- Hall character 4 floors of office space Underground car-parking Exciting Mixed Use Development
Total number of units: 46 Single owner of all 46 units currently included in a hotel rental pool of 81 units operated by Urban Hip Hotels (UHH) Residential Units for Sale 1 bed units: 23 2 bed units: 23 1 parking space per bedroom High quality fit out including furniture 1 Beds from 64m² to 91m² 2 Beds from 104m² to129m² Immediate returns on investment
Economic Data Sheet With inflation still above the South African Reserve Bank’s 3% to 6% inflation target, Prime is expected to remain at 10.5% with a possible further decrease of 50 basis points before the end of 2009.
The International Monetary Fund’s (IMF) findings into the impact of the expansionary monetary and fiscal policy responses to the recent global shock showed that there is a risk of these policies resulting in higher inflationary pressure (IMF, September 2009). It was noted that the Rand’s current strength will help to offset this inflationary pressure. Economic Data Sheet
Summary The Icon was completed in 2007. Since its completion, Urban Hip Hotels (UHH) has been operating all 46 apartments as part of a hotel rental pool scheme consisting of 81 apartments total, providing a return to investors. As anticipated in terms of any new start-up operation, initial yields from the new hotel rental pool scheme started low, but in line with market trends have increased exponentially over the first 2 years of operation as the hotel has become better known in the market. This upward trend is expected to continue. Yields are expected to increase significantly with higher occupancy rates and average room rates prior, during and post World Cup events. Performance of the rental pool is projected at a yield of 11.5% for the 2010 financial year. The apartments are collectively being offered at a substantial discount to the market. Recent individual apartment sales in the Icon sold for an average of approximately R23,500/m 2, however, as a bulk deal the average price of the Icon apartments collectively is R17,000/m 2, i.e. a 27.7% discount. This compelling investment offer is further substantiated by analysing the comparative City developments of Pepper Club and Mandela Rhodes Place, which are selling for approximate average prices of R28,000/m 2 and R24,000/m 2 respectively. Forecast economic and financial data are also showing signs favouring investment, with banks increasing the availability of Credit (Fin24.com); Prime expected to stabilise at around 10.5%; inflation expected to remain close to the 3% to 6% inflation target set by SARB (Standard Bank, September Economic Preview). The above collective basket of positive indicators provides a compelling argument favouring investors seeking to capitalise on the current market to enhance their own portfolios.
Contact us LONDON Jonathan Werth Email: email@example.com Cell: +44 (0)7711 510 120 Telephone: +44 (0)20 8896 9990 LIFE Residential CAPE TOWN Richard Boxford Email: firstname.lastname@example.org Cell: +27 (0)72 431 4475 Telephone: +27 (0)21 469 9720 Skype: richard boxford