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Conradie Park
From R 935 000 to R 1 600 000
Own your own Property in Pinelands
INTRODUCING CONRADIE PARK
Conradie Park is a new mixed-income, mixed-use housing development in Cape Town. The R3-billion, 22-hectare development – a partnership between developers Concor and the Western Cape Government – comprises more than 3 500 homes. It’s located near main arterial routes and the Mutual and Thornton railway stations in Pinelands, a Cape Town suburb best known for Mutual Park, the enormous local
headquarters of Old Mutual.
The Conradie Park multi use development offering various developments in one location including retail with a supermarket, gym, coffee shops and a host of other businesses under construction. Two schools, 3 Creches, Doggy Day care. Situated above a Retail Centre, Castle Rock built above the retail shopping centre comprises of 108 apartments. The name derived from the majestic and well loved diver's beach in Simons Town, offering features of exclusivity, lifestyle and comfort. Offering studios, 1 and 2 bedroom apartments. Each apartment has modern finishes, energy efficient water heating, fibre to home functionality, pet friendly & lush grassed area's. State of the art security with biometric access control, full CCTV and a manned security kiosk. Perimeter surveillance and license plate recognition. Fibre ready.
Levies: Estimated at R27 per sqm.
Estimated Completion: September 2024.
Estimated Rentals: Studio's +-R6,500 pm, 1 Beds +-R8,000 pm & 2 Beds +-R10,000 pm to R11,500 pm.
With plans for numerous businesses, two affordable private schools, three crèches’, an aspirational convenient retail centre, business hotel, medical facilities, doggy day-care, town square & community centre several pocket-parks and a 22,000m2 linear park with its Saturday morning “Park Run” already plotted, the development is being touted as an ‘affordable, sustainable, self-contained town for the future.
KINGS BLOCK HOUSE
Inspired by the iconic 1796 stone lookout point on Table Mountain, Kings Blockhouse is designed to inherit its unique qualities that will stand the test of time. Comprising of a concrete structure and striking face brick, Kings Blockhouse will house 133 pet friendly and elegantly designed apartments.
Each unit is equipped with stylish walk-in showers, vinyl floors to the unit, washing machine or dishwasher point, prepaid power and fiber ready for your service provider.
Kings Blockhouse is in the heart of Conradie Park and has numerous security features ranging from biometric access control, CCTV and a manned security entrance. Including constant 24hr perimeter surveillance and license plate recognition system. The 24hr manned central control room provides an additional level of security.
As part of Conradie Park, Kings Blockhouse owners and tenants will have access to a host of conveniently located amenities which include a retail center complete with a supermarket, gym, coffee shops and a host of other businesses. 2 Schools, 3 crèches and a doggy day care are all on the drawing board for inclusion in Conradie Park.
RETURN ON INVESTMENT
• Gross rental yields up to 11,66%
• Rental income projected from R7 000 to R10 000 per month.
• Bond and transfer fees included.
• No transfer duty payable.
• Up to 100% bond financing available.
• Buy directly from the developer.
• Up to 55% of the purchase price can be used as a deduction against the investor's income for tax purposes when purchasing five or more properties.
Rental income is projected at approximately R7 000 per month to R10 500 per month, depending on the size of the apartment, which is a choice between
Estimated at a purchase price of R1 035 000 for a 2-bedroom apartment over a period of 30 years @11.75 prime, your rental income per month will cover your bond repayments.
INVESTORS PURCHASING 5 OR MORE UNITS
Investors / Purchasers can off-set their investment by depreciating the cost of the units at an accelerated rate of 5% per annum.
REQUIREMENTS TO QUALIFY
1. The unit must be new / unused and must be mainly used for residential purposes – means – existing or secondhand properties DON’T qualify.
2. Properties must be used solely for the trade of the taxpayer during that year of assessment – means – the taxpayer can’t live in 1 of the properties as their primary residence.
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3. Taxpayers must own AT LEAST 5 residential units, and these must be used for the taxpayers’ trade.
• Don’t need to buy all the units at once.
• If you sell 1 you no longer qualify
4. Units must be situated within the Republic.
For every 5 properties bought, SARS allows a minimum of 55% of the purchase price as a tax deduction:
5 x R1m = R5m
R5m x 55% = R2,75m – SARS allows as a deduction to reduce your tax liability – 20 years
Equates to- annual tax allowance for 20 years of R137 500 taxed at 45% income rate = R61 875 per year
PDF Brochures and Floorplans
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