IGROW WEALTH OFFERS NEW INVESTMENT BREAK AT TOP-END PARKLANDS APARTMENT DEVELOPMENT, CRYSTAL LANE
A new high-end sectional title development, Crystal Lane, in Cape Town’s western seaboard suburb of Parklands, is the latest opportunity among the many Western Cape projects in which hundreds of units have been sold through nationally established IGrow Wealth that has become the leader in affordable property investment.
Over the past four years, IGrow Wealth has sold 635 similar Parklands apartments that form the basis of investment portfolios for their clients. Other opportunities have been sold out in the Cape Winelands.
In nine separate blocks within a security precinct in this prime Parklands area, Crystal Lane has 50 three-bedroom, two-bathroom apartments priced from R1.16 million. Bond costs are included in the price and there are no transfer fees on the units.
‘Because the cornerstone of IGrow’s investment strategy for our clients is the property they buy, reliability and integrity in the product is paramount and we have negotiated relationships with developers that have an impeccable track record of high-quality buildings,’ says Jacques Fouché, CEO and founder of the ten-year-old company.
Its previous sell-out successes in Parklands include Forest Place, Sahara Mews, Carlton Mews, Pimlico Place, Hampton Place, Libertas and Augusta.
Gerhardt Jooste, General Manager: New Developments at IGrow, says that a positive investment climate change is being driven by medium-sized, good quality, well-priced residential units that offer a viable alternative to investment in other forms of passive wealth generation. IGrow provides clients with direct ownership and control of their own portfolios, avoiding the risk associated with shares in investment funds over which they have no control. IGrow also manages the property on behalf of clients through its associated company.
‘As always, investors turn to property as the reliable safe haven for their funds, and now with a growing rental market, residential property offers higher than average returns. The additional benefit of tax breaks has resulted in a remarkable upswing in the sale of middle to lower priced new property,’ he says.
Crystal Lane investors are able to buy the quality units for under R1.2million, which is R500 000 less than similar units close by.
The Crystal Lane units will command a high rental income, conservatively projected between R9 500 to R10 500 per month. Between signing the purchase agreement and taking occupation early in 2018, the value of each unit is expected to increase by between eight and ten percent. And there are no hidden costs.
IGrow Homeloans has contracts with all major finance facilities including Investec and RMB and the investor financing division can offer up to 100% loans.
Levels of luxury are high at Crystal Lane, with tiled floors and granite kitchen tops. Security is provided by a gatekeeper system offering access control, electric fencing and burglar bars on all downstairs opening windows. There are accessories and curtain rails in the bathrooms.
Parklands is proving to be one of the big property development success stories in the Western Cape, where land availability has become something of an issue.
Developed from the ground up, it has been progressing over the past 15 years and the area has an enviable infrastructure that includes an A-grade retail sector supporting national brands. It will be boosted by the opening of the 65 000 square metre Table Bay Mall on September 27, in addition to a Checkers Hyper, Food Lovers Market, Virgin Active and Builders Warehouse.
Public transport, that is vital to a highly economically-active population, is provided by the sophisticated MiCiTi bus service with routes throughout the area, linking to the city’s major hubs.
To the north, the extension of Sandown Road allows a quick connection for commuters to the R27 West Coast Road and the N7 freeway to the City from the Swartland. This means enormous relief from traffic congestion and easy access to and from the suburb. The area is served with excellent junior and high schools within easy reach and the well-established Netcare Blaauwberg Hospital at Sunningdale is only two kilometres away.
Because of its position, status and convenience, Parklands is in huge demand by potential tenants who are prepared to pay a premium to live their best life close to all the amenities and features the area has to offer.
IGrow has established itself as the major investment partner for residential property investors and is currently rolling out projects in the major centres in South Africa.
For more information: www.igrow.co.za/crystal-lane-parklands/