Hout Bay Private Estate - Investment Property
Asking price 7.5 millon ZAR
Kenrock Private Estate living with four ensuite bedrooms, double volume open plan space, and a large deck with large swimming pool and garaging for three vehicles. 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.
This clients' main objective was to buy a home now, which they could eventually use for themselves for extended periods of time, but which would have very strong appeal for families looking to rent. Looking for strong rental yeild and great capital appreciation over the next 10 years. They wanted to take advantage of the weak local currency in 2015 and buy before property prices rise any further.
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 only 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.
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 500,000 ZAR on the asking price which in this bouyant 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.