Green Point - Investment / Holiday Apartment
Asking Price 5.7 million ZAR.
Our client contacted us while in Cape Town. He had been looking for an investment property for 12 months and could not find one and was referred to Space by an ex client of ours, needing the guidance and reassurance that he had someone representing his best interests, and helping him find the best property in the best location for the best price.
Our brief was to source a 2 bed, modern apartment, within walking distance of shops, restaurants and the ocean. It needed to be at least 100sqm in size, with an outside area, good security, and views. Preferred areas were Sea Point, Green Point and Camps Bay.
Within 6 weeks of retaining our services, the client flew back into Cape Town from the UK.
There is currently a considerable shortage of good property within this budget meeting these criteria, and we had to search on the official market, and network amongst our partners, to source a great shortlist.
Ultimately we had a shortlist of 9 properties to view, but by the time we had our viewings 3 were already sold. Such is the dynamic nature of the market. Fortunately our client liked what we believe was the best choice.
A stunning, 2 bed, ground floor, 193sqm modern apartment in the Odyssey Building Green Point, just across the road from Green Point park and the World Cup stadium. Five minutes walk to the shops and restaurants and ten minutes walk to the beach. The building is only 2 years old, has 24-hour security, loads of parking, and a roof deck with a swimming pool and terrace.
There was already an offer on the table for the apartment, however, we used our knowledge and negotiation skills to knock the other offer off the table, and the seller accepted our offer on the same day.
We believe we bought this property for slightly below market value. Rental value will be very good at R35k a month and we should see double digit yearly growth in this building, as demand exceeds supply.
Our client's comments follow:
This is good news. Thank you Darren.
Barely 6 weeks from intro to close and 10,000km between! Impressive.