Cape Town Waterfront Project

Cape Town V&A MarinaFirst Floor Apartment (approximately 130sqm) of the Altmore block of apartments in the V&A Marina. 

This semi-serviced apartment has 2 en-suite bedrooms and an open plan lounge/dining room/kitchen area, with large sliding doors opening up to a private covered balcony. The bedrooms, positioned on either side of the lounge area, have their own sliding doors opening up onto the balcony. The views from the balcony are of the canal (which runs through the Waterfront) and the clubhouse, which is easily accessible and which is available for use by all residents. 

 The apartment comes complete with 2 undercover parking spaces, as well as a separate storeroom. Broadband internet connectivity and satellite tv are freely available. Full passkey security system in place. 

The apartment gives use of a fully equipped gym and the main pool, with lovely views over the Marina, whilst the complex has 2 additional canal-side pools positioned across the Marina. The location is a mere 10min walk to the international Victoria & Alfred Waterfront shopping centre, with Cape Town's finest restaurants at your fingertips, as well as a grocery store. Water taxis can be taken to the centre of town. Just on the other side of the mountain, 15min by car, takes you to Cape Town's most beautiful beaches in Camps Bay and Clifton.

Cape Town Project

 

Rentals from £200/R3,200 per day, see Trip Advisor  or AirBnB or for best rates contact us directly - info@fdexpress.co.uk

Due to strong demand, we have just a couple of resales available, from £25,000 / R450,000 email: sales@fdexpress.co.uk

 

 

waterfront marina 

 

 

 

What's Great about Cape Town and it's Waterfront?

The location is a mere 10min walk to the international V&A Waterfront shopping centre, with Cape Town's finest restaurants at your fingertips, as well as a grocery store. Water taxis can be taken to the centre of town. Just on the other side of the mountain, 15min by car, takes you to Cape Town's most beautiful beaches in Camps Bay and Clifton.

A challenging golf course, at the base of the iconic Greenpoint Stadium, is just 2 minutes drive from your apartment.  Take your family to the Cape Town's amazing Two Oceans Aquarium, just 10 minutes walk away, and see their massive tanks filled with sharks and other marine predators, but also colourful tropical displays of sea life.

 

 

 

 

 

Cape Town Seasons
Most tourists visit Cape Town during the long summer from November to February. A Mediterranean climate with little rain, 11 hours a day sunshine or more and long sunny evenings sets a party mood. The Californian weather explains why Cape Town has become a favoured site for foreign film and TV crews escaping from the Northern Hemisphere winter.

In recent years, the normally prevailing summer south-easter wind, the famous Cape Doctor, seems to have abated. Maybe El Nino or global warming is to blame. If the wind does blow and you're after a tan or the beach, remember that mornings are usually much less windy, and that certain beaches (Clifton, Boulders) are much more protected than others.

Conventional local wisdom used to be that spring (September and October) and autumn (April and May) are the smart times to visit Cape Town. They are usually balmy in-between seasons, with little wind, when nature is at its showiest. If you're into flowers or whale-watching, or seeing the vineyards at their best, these are great seasons to be in the Cape.

Whatever season you have chosen to visit Cape Town, be warned of the old joke. Cape Town has four seasons - sometimes in the same day. This is especially true if you plan to go hiking or be outdoors.

View of Camps Bay

 

2 week shares in our Cape Town Waterfront apartment are available from only  R450,000.  This price is fully inclusive of all taxes and duties but does not include the cost of local legal advice at the option of investors. 

 

Return on Investment

 

Average daily rental on these apartments in the V&A Waterfront is R2,500.  Assuming 60% occupancy on a 2 week share, this could provide a gross rental yield of over 7% on your investment. 

 

Management Levies

 

Management levies are set at R1,400 per month for a 2 week share.  This enables us to offer you a hassle-free holiday experience and shared maintenance costs.

 

Your levy is due from the month of signing.

 

The levy covers:

 

  • all insurance

  • all maintenance

  • estate levies

  • groundrent

  • furniture and fittings replacement fund

  • water and electricity

  • weekly cleaning services

  • auditors and financial reporting

  • satellite tv

  • broadband internet

  • rental advertising

  • holiday exchange clubs membership

  • our management fee 

Potential for Investment Growth

 

Property appreciation is clearly something that Fractional Development Express cannot guarantee. As with all investments, prices can go down as well as up. 

Tax Implications 

 

We are unable to offer you detailed tax advice.  Fractional Development Express is able to provide investors an overview of tax consequences in South Africa, but unfortunately cannot offer specific advice pertaining to tax implications within investors home tax jurisdiction.

 

 

From whom am I buying my interest in the apartment?

 

FD Express LLP, a limited liability partnership registered in England and Wales is acting as agent for current shareholders for the resale of their shares.

 

 

 

What exactly am I buying?

 

Shares in Altmore 104 Shareblock (RF) (Pty) Ltd which provide the right of use of the apartment Altmore 104 in the Altmore Block, V&A Marina, Dock Road, Cape Town, South Africa.

 

 

 

What is the nature and content of the rights?

 

Right to use the apartment for 2 weeks each year, such use to include the right to rent out the weeks or exchange them. Rights to attend and vote at an annual meeting and to receive the annual Report and Accounts.

 

 

 

When can I make use of the apartment and for how long?

 

The right of usage is defined in the allocation table, which provides each shareholder with 2 weeks per year in perpetuity and is updated at least annually.

 

 

 

From when can I start to use the apartment?

 

Usage rights commence as soon as the Share Transfer Agreement has been signed and payment of the purchase price (or first instalment, if a payment plan has been agreed) has been made.

 

 

 

What will it cost me?

 

A consideration of R450,000 for the shares, and R2,225 per month in respect of levies for the first period of ownership. Thereafter levies will be determined by recommendation of the property manager and agreed by a majority of shareholders at the annual general meeting.

 

 

 

When will I have to pay the purchase price?

 

The purchase price must be paid within 14 days of signing of the Share Transfer Agreement.  If a payment plan has been agreed, the first installment must be paid within 14 days of signing. 

 

 

 

 

 

 

What other services can I receive (eg discounted hotel stays and flights)?

 

The property will be insured, maintained and managed by the property manager. Rental arrangements will be managed on your behalf should you wish to rent out your usage rights at any time. Swaps for usage of other properties managed by FD Express will be arranged.

 

 

 

Has FD Express signed a code/codes of conduct and, if yes, where can it/they be found:

 

FD Express has not signed a code of conduct. However the principles of its operations and conduct are publicised on its website.