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New Business Trends  Property Investment
Cape’s Film Industry Driving Property Investment Opportunity
Newly spawned property development The Hyde has been specifically designed as an investment opportunity for avid property investors through continuous short-term letting to film industry players.
“The idea is to generate a continuous revenue stream for the investor through guaranteeing a constant tenancy of film makers who reside in Cape Town all year round, where we are confident that investors and potential investors will yield a return of 9-12%. Furthermore, The Hyde will be zero-rated for VAT purposes, thereby allowing investors to sell their apartments without the transfer duty penalty that they would pay on a commercial property” says Maranz.
With the fast-paced local and international film industry spending up to 7 billion a year in Cape Town, The Hyde promises to cater towards the special requirements of this massive market. Due to launch in October, the glamorous complex will reside in Sea Point’s London Road, where the 36 luxury self catering apartments are set to offer an exclusive hotel-like experience, which film makers are mostly accustomed to.
“With the film industry forming such an integral market of Cape Town, it seemed logical to create a dedicated place with specialist features to optimise and add to the working and hospitality experience of film crews residing in the Cape,” says Louise Maranz from Vered Cape.
Managing agents and film industry specialists, Amazing Spaces have been assigned to The Hyde to ensure an enduring and constant inhabitance of filmmakers in the complex. “This has made it easy for us to guarantee such an impressive return to our investors and most importantly, property owners need not worry about sourcing and securing their own tenants. Buyers will also have the opportunity to make personal use of their investment, as owners have the option to enjoy their investment space for up to 2-4 weeks per year,” says Maranz.
With the completion date set for October 2008, 22 units have already been sold. Custom-designed features for the film world, such as casting rooms and fully-fledged concierge and chauffeur services have been factored in to ensure that crews reach their locations collectively and on time. The layout of the complex, with a pool situated on the roof and the open plan reception and guest lounge areas, have been designed to stimulate networking activities, which are paramount to the industry.
Units are sized up to 57sqm, comprising of 30 single (large) one bedroom apartments and 6 studio flats. Prices range from R1 450 000 to R1 950 000 with the levy amounts calculated at R5.50 per m2.
For more information, contact Vered Estates
Louise Maranz
082 568 8732
021 439 9999
info@veredcape.co.za.
new business trends  property investment |
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section specialist
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Jason Lee
Jason Lee has a BA LLB degree from the University of Cape Town and is an admitted attorney of the High Court of South Africa. He is the co-founder and a director of TCB Properties, a dynamic property investment and development company offering a range of property services. Since the publication of his bestselling book Making Money out of Property in South Africa , Jason has been featured in a number of magazine and newspaper articles and has appeared on radio and TV. He is also a regular guest speaker at property-related functions. You can visit his website at www.jasonlee.co.za. |
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