Aquacor Property Developers has been recognised as one of Cape Town’s leading inner-city property developers since 1982. With over 40 years of experience and our first project completed in the early 1980s, Aquacor Property Developers is synonymous with luxury inner-city property development. We consistently deliver successful projects, ensuring excellence at every stage. Our comprehensive team offers exceptional project planning, skilled
architectural design, and specialised financial management, all under one roof—creating a powerhouse in property development. www.aquacor.co.za
Apollon Property is a private equity-funded real estate investment
firm backed by a German family office.
The company specializes in acquiring high-quality, income-generating properties and development opportunities in the Cape Town region. With a focus on hands-on asset, tenant, and portfolio management, Apollon Property aims to maximize the potential of its geographically concentrated
portfolio. This strategy not only ensures stable income from existing assets but also identifies redevelopment opportunities to foster organic growth and enhance overall portfolio income. www.apollonproperty.co.za
The Architects
Bullhaus redefine spaces and create transformative designs that
elevate living and working environments while prioritizing sustainability. With a focus on residential and commercial projects, they blend innovative concepts with practical sustainable solutions to deliver exceptional results. Bullhaus believes in a collaborative approach, working closely with clients to understand their objectives and delivering results that exceed expectations. Their commitment to quality, attention to detail, and dedication to sustainable practices set them apart in the industry. www.bullhaus.co.za
The Construction Team
To be confirmed after tender in January 2025.
Transferring Attorney
Our in-house Conveyancer, Dominique Wolhuter, is on hand to give you expert support and service through every step of the purchase and transfer process. We prefer to work with a boutique firm which can give you, our client, the hands on service you require and with a single point of contact throughout the process.
237 High Level Road, Sea Point, Cape Town, South Africa Go To Map
Estimated Completion Date
Construction is planned to commence in March 2025 and complete end July 2026.
Sales Launch
Simply complete the 2-page reservation form and pay your fully refundable R50,000 reservation fee and your unit is secured for 1 week. No last minute stressful online selling, no pressured and competitive bidding. If you wish to cancel your reservation for whatever reason, your reservation fee will be fully refunded. If you wish to proceed with your sale within a week, your reservation fee will be applied to your deposit.
Reserving a Unit
Open market sales will begin on Monday the 13th January 2025, with all reserved units being confirmed as sales from this date. Potential buyers may reserve units for 1 week while they scrutinise their full sales agreements and prepare to secure their finance.
Purchasing a Unit
Pay either the balance up to 10% of the purchase price and secure a 90% bond, or pay the balance up to a 30% deposit and the need for a bond is waived until transfer at completion. Fill in the sales agreement and confirm the balance of your finance with our Conveyancer and your purchase is locked in until project completion.
Does the Deposit Earn Interest?
Yes. Your 10% or 30% deposit is paid into the transferring attorney’s interest-bearing account and will earn interest for your benefit.
What if My Bond Is Not Approved?
The deal is subject to your bond being approved and should it not be approved, the deposit is paid back to you with interest. We do not believe in punitive charges against buyers who are unable to achieve their finance.
When Do I Start Paying My Bond?
You will only be required to begin paying the bond after the apartment has been transferred into your name and the development has been paid in full for the apartment by way of your bank loan and deposit.
Bond, Transfer Costs and VAT
Your unit price includes VAT and no transfer duty is payable on transfer. Your bank will charge you a bond registration cost and there will be additional legal transfer costs payable by you, to the project Conveyancer. These costs are all only payable on transfer and are generally built into the bond and deposit amount. We negotiate excellent rates on this from our Conveyancer and for your benefit. Please refer to the cost calculator here.
What Do The Levies Cover?
Levies are determined in terms of sectional title and exclusive use areas of the apartments and associated parking as applicable. Levies are calculated at a standard rate to be determined. Your levies cover the costs of security, cleaning & upkeep of the common areas, maintenance of the building, building insurance, as well as all running and management costs.
Rates
Rates are payable directly to the City of Cape Town and are calculated based on your purchase price multiplied by 0.006344 to give you the yearly figure. This is divided by 12 to give you the monthly figure.
For example, a R 5,500,000 apartment x 0.006344 = R 34,892 per year OR R 2,907 per month.
What Other Costs Should I Be Aware Of?
Rates, levies and CID charges are payable directly by the purchaser from transfer. As occupation is often possible before transfer, you may be required to pay a month or two of occupational rental from the date you are able to move in, until the date of transfer.
When Can We Or Our Tenants Move Into The Unit?
At the end of the construction process, the developer will apply for council occupation certificates. These are generally obtained within a few weeks of construction completion, at which point you or your tenants may move in.
Section 13Sex TAX Incentive
Investors can take advantage of substantial tax incentives under Section 13sex of the Income Tax Act No. 58 of 1962. This incentive allows taxpayers who own five or more newly built residential rental units (which do not need to come from the same development) to claim up to 55% of the purchase price as a tax deduction.
Example:
Total purchase price for five units: R19,868,075.
Launch discount: R1,000,000 (R200,000 per unit, if purchased at launch).
Final purchase price: R18,868,075
Deemed cost for Section 13sex allowance: R10,377,441 (55% of the final purchase price)
Annual deduction: 5% of the deemed cost can be deducted from taxable income each year for 20 years.
Calculation:
Annual tax deduction: R518,872
Total tax deduction over 20 years: R10,377,441
Eligibility Criteria for Section 13sex:
Ownership of five or more residential units:
Ownership is confirmed when the buyer takes possession of their fifth new unit.
All five units must be rented out and generate taxable income.
Definition of a residential unit:
A self-contained building or apartment used primarily for residential accommodation.
Structures used for business purposes (e.g., hotels) are excluded.
Location and condition of units:
All units must be located within South Africa.
Units must be new and unused. (Previously occupied properties are not eligible.)
Use of units:
Units must be used exclusively for residential letting as part of a trade activity.
Units cannot be claimed for personal use.
Important Note:
Before making investment decisions, consult a qualified tax advisor to understand how this incentive applies to your specific circumstances.
Why Buy Off-Plan In Cape Town
Cape Town property grows at 10% per year, while you only need to pay a 10% deposit.
You benefit from full property value growth with a small initial outlay.
Smart letting can cover most of your bond payments.
As rental income rises and bond repayments stay stable, your property becomes cheaper over time.
High demand for luxury properties in Cape Town ensures strong long-term value.
Delaying entry into the property market makes it harder to get in.
Property investment offers long-term wealth and a growing passive income.
Utilities
All units have electrical pre-paid which is supplemented by the rooftop solar system. Hot water is central and is metered separately from cold water. When you aren't at home, your utility costs amount to almost nothing, giving you proper lock-up-and-go freedom. Our smart system is pre-prepared for Eskom's "time of use" charge, which will allow us to either charge your invertors off the solar system during the day, or from the cheaper night time power when this system comes into play.
How Does The Gas Work?
Each unit comes with 2 x 4.5kg cylinders which are housed on the balcony in a wooden enclosure which doubles as a furnishing. When a cylinder is empty you simply switch to the spare cylinder and send a WhatsApp message to our gas supplier who will replace your empty cylinder within 24 hrs. No carrying cylinders, no need to get refills and no fuss with all the benefits and associated energy and cost savings. NOW you are cooking with gas.
Rental Policy
Short term letting is supported by our in house letting agency AIR. This is a fully managed service which will list your property on all online platforms, take care of marketing, check in and out of tenants as well as cleaning, servicing and maintenance to give you a seamless and worry free letting experience.
Security Features
Our extensive camera installation is complimented by 5 strand electrical fencing, 24 hour on-site security, remote monitoring and a smart access control which only allows access to your own floor. Entry control to the door gate, pedestrian gate, lift lobby, floor section and even opening your front door is done via either your mobile device, or, if you prefer, by facial recognition. Timed access is provided to guests irrespective of tenants which is only valid during their stay. An extensive fire detection and control system is installed throughout the building as well as smoke detectors and alarms, and sprinkler systems to parts of the parking area.
Parking
All units, other than No 4 come with at least 1 parking bay. All special units and 3 bedroom units have 2 bays. Unlike many projects where this is an extra cost, these are included in the listed price.
Air Conditioning
ALL units come standard with air conditioning units. The larger units have 2, 3 and even 4 separate units included in the listed price to ensure that your summers are cool and your winters are warm.
Finishes
Unlike many competitors, we do not offer "upgrade packs" as the units already come with a high end finish that does not require further upgrades. From wooden panelling and leathered granite, to aircon, inverters, all the necessary built in appliances and multifunctional headboards in bedrooms, our standard finishing level is higher than most developments' "upgraded" offering. Please refer to the information pack for details of the finish and fit of the apartments.
Backup Power
The peace of mind of backup power, without the noise and pollution of a diesel generator. The evergreen Isabella has an extensive battery system on the ground floor for all common areas and the lift. Each unit also comes standard with a R5kw inverter and batteries and the larger units with an 8Kw system. This is, once again, included in the listed price.
High Speed Internet
All units come pre-fitted with fibre connections and high speed wireless routers.
Lift Access
Access to all floors via the controlled access system. The penthouse lift opens into the unit directly. For greater security you are only able to access your own floor either via the lift or the fire stairs.
Pet Policy
Pets are allowed, but all owners are required to keep their pets behaved and may be asked to remove them if they are too noisy or allowed to make a mess on the balcony. As long as Rover or Miss Tibbles is happy and well behaved in the building, so are we. We generally advise against birds AS they tend to make a noise. Fish are most welcome, provided they are kept in the tank and not allowed to free-range. Chickens are a straight no! You can keep reptiles if you wish, but do you really want to?
Concierge Service
Our security is put through additional training by our letting team to assist you with the basic services and assistance provided by a concierge to make your living experience even more comfortable. This is especially useful for short term guests who may need help with transport bookings or advice on facilities and attractions in the area. A space is provide in the reception for food deliveries too.
