The Yacht Club will feature state-of-the-art security, including access control, limited elevator access, licence plate recognition software and video cameras.
Mixed-use developments are changing the landscape of the Cape Town CBD as they bring with them not only the residential element, but also invest in the safety and security of the city centre.
Owners of properties in the CBD and these mixed-use developments are also assured of good returns on their investments.
Early investors who bought into The Yacht Club, developed by the Amdec Group, enjoyed a “significant return on investment in the first year”, and exceptional capital growth in the two-year construction period, says Nicholas Stopforth, managing director of Amdec Property Developers.
The 170-apartment development, which occupies 30 000m², launched at R48 000/m² in September 2015. Just over a year later the last units sold for R75 000/m². “Cape Town is booming, especially the Foreshore area and the Roggebaai Canal precinct, where the Yacht Club is located.”
The group’s other Cape Town development, Harbour Arch, has achieved more than R1.2 billion in sales, with 80% of its 432 units sold within five months of launching. It will be the first and largest mixed-use development of its kind in Cape Town’s CBD – with six individual towers over 5.8ha. The development includes two Marriott hotels, with construction due to start before the end of the year.
“Past performance is never an absolute indicator of future returns but we are quietly optimistic that investors in Harbour Arch will see equally positive returns on investment to those experienced by The Yacht Club investors.”
Only 56 of the 432 units – priced between R2.1 million and R7.5m – are left.
Like Harbour Arch and Melrose Arch in Joburg, The Yacht Club will feature state-of-the-art security, including access control, limited elevator access, licence plate recognition software and video cameras. An additional perk is residents can choose to link with the V&A Waterfront, CBD and CTICC using the water taxi or pedestrian walkway.
Stopforth says the company has an established reputation for developing new urban precincts where people can work, live and play in a secure, connected and convenient environment. Their developments are also increasingly manifesting “smart city” functionality, embracing the latest technology and sustainability trends.
“There is a clear demand for these types of developments. Having sold in excess of R2.4bn in the past two years – R1.2bn at Harbour Arch, R600m at the Yacht Club and R600m at One on Whiteley – it is clear our new urban developments don’t only offer an excellent opportunity for investors, but they have a hugely positive impact on the economy too, driving job creation in the construction, hospitality, and retail sectors.”
With the high demand for residential apartments in the growing CBD, Pam Golding Properties agents for Mouille Point, the V&A Waterfront and Foreshore agree the rental returns and capital growth potential are “considerable” in developments such as Harbour Arch.
“Harbour Arch offers the ideal urban lifestyle for working professionals, first-time buyers and investors, and will also be suitable for corporate long-stay accommodation,” says PGP’s Mariël Burger. The appeal of these “micro-markets” is they are self-contained residential nodes that offer the same security and access to amenities as high-end estates.
“Buyers in these developments want to be close to the Waterfront and the vibrant city centre, where they have a choice of restaurants, shops and other attractions, as well as the sea and mountain nearby.”
The location of these nodes means there is no possibility of further expansion, so buyers will have solid returns on their investments.