Bellandia, the Cape-based residential property developer, and the Cape Peninsula Organisation for the Aged (CPOA) have crafted a first in the marketing of Life Rights to the retirement sector with the launch of their latest project, Fernbridge Apartments.
CPOA, the market leader in the Cape retirement sector, has successfully completed 20 property developments and currently administers well in excess of 2 500 accommodation units for retirees which are marketed on a Life Rights basis or sold as Sectional Title units.
The two organisations recently launched Fernbridge, situated in Diep River alongside CPOA’s very successful Riverside Place.
“Given the fact that Riverside is ‘sold out’ and the demand for accommodation in the area is still strong, it was logical for us to proceed to extend our capacity by developing Fernbridge Apartments in joint venture with Bellandia,” says Billy Rauch, CEO of CPOA.
At present, retirees generally have to put their names down on a long waiting list, not knowing when accommodation will become available. Flexibility is also a key issue for prospective residents – if their health needs change over time, it would be of great benefit to be able to exchange their units for accommodation more appropriate to their altered circumstances.
According to Mr. John White, CEO of Life Tides (the selling agency), Fernbridge is the most comprehensive and best packaged development catering to these needs that his firm has ever been associated with.
Fernbridge purchasers will have the right to let their apartments should they choose not to occupy them immediately and so avoid being at the mercy of a waiting list.
They will also (subject to availability) have access to high-care facilities at the neighboring Riverside Place and, most importantly, be able to exchange their Life Right at Fernbridge for another unit in the CPOA stable offering a higher degree of care, should the need arise.
Mr. Rauch says: “This is the first development we are selling off-plan where we are prepared to make such a significant commitment.”
With these exciting new benefits, retirees who secure a unit at Fernbridge will enjoy the peace of mind knowing that CPOA has undertaken to cater for their changing needs.
For more information, please contact the Life Tides sales consultants at the Fernbridge sales office or visit us at Alnwick Road, Diep River.