Buyers snap up “last chance” value properties at Robyndale
The first phase of Robyndale – Signatura’s top-notch apartments in the heart of vibrant Upper Kenilworth – is 80% sold out after launching less than six months ago. And South Africa’s first private-label property group is predicting an above-average capital appreciation of those apartments in the next 12 months, saying they are very optimistic about the general housing market in Cape Town.
“There is simply nothing in the area that provides similar value to that achieved at Robyndale without sacrificing desirable amenities such as a private swimming pool, luxury pergola and outdoor entertainment area, an open policy for pets, a Manhattan-style concierge and – above all – high-tech, fully automated security,” says Signatura founder and property guru John Rabie.
“Currently, investors in Robyndale are seeing a great rental yield of around 7 to 8%, about double what they could achieve in the City Bowl or along the Atlantic Seaboard.
“We are also optimistic about achieving capital appreciation of these current apartments above the current norm based on the current selling prices, which buyers can choose to have renovated or not as part of the selling options.”
Units start at R1.15-million for a two-bedroom (incl VAT) and range to R1.35m for a three-bedroom.
“We have less than a dozen apartments in the first phase still available,” says Rabie.
Construction on the second phase of Robyndale will begin in June and will consist of five from-scratch two-bed, two-bath apartments that will start at R1.9-million.