The new development in Vredehoek, The Rugley, has been reconfigured and reduced to three stories (instead of four) to include three new garden apartments which are not just pet friendly, but also approved for short-term and Airbnb rentals.
Pet friendly units and Airbnb-approved developments are in short supply in the City Bowl and this is a most welcome move to respond to the needs of city residents, says Bernice Musikanth from Seeff.
The three one-bedroomed apartments come with trendy styling and interiors and offer a choice of three colour pallets. Buyers can also choose their finishes. The gardens are large to accommodate pets, says Ms Musikanth.
The block is secure with electrified fencing, CCTV cameras and direct access from the parking to the apartments. Aside from own-use residential needs, the apartments are ideal for rental investments as well as for second home or corporate buyers.
There is one unit available at R3.1m and two at R3.995m each. The price includes VAT and there is no transfer duty payable, says Ms Musikanth. The development is scheduled for completion by May 2019.
It has attracted huge interest with most of the other units sold to professional couples and singles, she says.
The complex is close to a green park and enjoys lovely Table Mountain views, offering city living, but with a country vibe. The Rugley is within walking distance of the Gardens Shopping Centre and trendy restaurants which means saving travel time and an improved quality of life. It is a 6-minute walk to the CBD, so ideal for work.
Vredehoek enjoys easy access to the M5 and M3 motorways for quick travel to the city as well as the northern and southern suburbs. It is one of the most dynamic suburbs of the City Bowl, offering a sought-after urban lifestyle and close proximity to the attractions of the CBD, Waterfront, Silo District and the Atlantic Seaboard.
Overall, Deeds Office data shows that sectional title property continues to sell well with 134 transactions recorded over the last year, about 40% of which fall above the R3m price band and prices are now comfortably breaching the R5m price band. Ms Musikanth says that the market performance underscores the excellent investment value of the suburb and sectional title property in particular.