The proposed retirement village of
173 cottages and 20 assisted living units, is situated within an established and prestigious beachfront estate, just a few kilometers from Africa’s Southernmost tip.
The retirement village is part of a very low density mixed use lifestyle development, offering a variety of experiences, including seaside leisure, nature, a quaint business village, hotel, equestrian centre, village chapel and family homes.
The estate fronts onto a 1km long sandy beach, and is conveniently situated between 1-2 hours drive from almost everything the Western Cape has to offer.
THE LAND
It was acquired almost seven years ago and went through a rigorous approval process. It is 7.5 hectares in size and will gain its access just beyond the main security entrance. It is flanked on one side by historical heritage cottages and on the other side, the proposed tourist related business village.
The land is privileged to front directly onto a
23 hectare ‘eco zone’ - a green nature lung situated in the middle of the estate. The retirement village will have full access to the rest of the Estate and the facilities.
APPROVAL STATUS
The project was approved on 23rd of August 2007 with various normal development conditions to be complied with at the time of development. A total of 173 cottages was approved, as well as a health care centre (including 20 assisted living units, clubhouse, bowling green, gym and an indoor pool).
The development, approved as freehold, can be sold on the basis of either full ownership, life right or a combination of both - providing maximum flexibility.
PHASING & FLEXIBILITY
The development was designed to provide and ensure maximum flexibility to the developer. This is to be achieved by sub dividing the property into phases, each with its own diagram and title deed. Within each phase, various further phases is possible.
The ample flexibility that was designed into the project provide the developer of the property with a sound risk management factor, lower initial financial exposure, quicker positive cash flows, the opportunity to mature the development at the optimum pace and thereby maximizing returns.
THE OPPORTUNITY
To acquire 7.5ha (75,000m2) land, fronting onto a lake, approximately 250 meters from the beach with development approvals in place for 193 units, flexibly spread over 5 phases. The land is to be acquired as one complete parcel.
The property is sold on the basis that the all services will be installed by the developer of the retirement villiage. The estimated cost of services will amount to approximately R100K per unit. The price for the property is to be calculated at a rate of R185K, plus VAT, per unit, which translate to R35M plus VAT.
The real investment reward - Recurring income forever to you and your future generations, by doing a liferight development!
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