Investment - Holiday Home
Asking price : 11.95 million ZAR.
Kenrock Private Estate living with three ensuite bedrooms, wine cellar, office, tv room, double volume open plan space, a large deck with swimming pool and parking for eight vehicles. Separate guest cottage of almost 90sqm in size. All sitting on over 4000 sqm of land which is rare in an estate like this. Distant views of the bay and 360 degree views of the surrounding mountains add to this magical location. Located at the top of the estate with Table Mountain as the backdrop.
Our client based in Tokyo wanted a property he could use for holidays and rent out, he wanted privacy and also a real sense of nature, the property needed to be modern with an open plan light sunny feel and this was the perfect property. This house will also satisfy his financial objectives of looking for strong rental yield and great capital appreciation over the next 10 years.
With strong demand for Private Estate property in Cape Town, Space had to draw on an expansive range of contacts to source this beautiful home in Kenrock Estate. Ensuring that the client was buying a home which would be in strong demand amongst tenants meant that the Private Estate route was the most likely option.
An average rental home in this estate demands a monthly price tag in excess of R38,000 per month so the yield would be very good. We expect this property to achieve a rental of 50-60k a month. Kenrock is the number one estate in Hout Bay for the rental market, rental prices have risen by almost 50% over the past 3-4 years. The views all around are magnificent. Space secured a discount of 1.95 million ZAR on the asking price which in this buoyant market is a real achievement.
Space will project manage the house, getting it ready for rental, we will also source rental tenants and manage the property, demonstrating yet again our full service offering.