First of its kind mixed-use development on the Atlantic Seaboard nears completion
Category Press - News
Station House, a unique, mixed-used development on Cape Town's Atlantic Seaboard, is nearing completion amidst huge demand and excitement from property buyers.
This iconic development, located at 19 Kloof Road in the heart of Sea Point, redefines what people look for in a mixed-use building and features 201 luxury apartments, of which 44 suites form part of the on-site boutique hotel. Apartments comprise of studios, one-bed, two-bed, three-bed, and penthouse units.
The 12 storey Station House is a home, a workplace, a retail space and an entertainment venue, all in one which includes a signature Pick n Pay supermarket, restaurants by the Kove Collection at street front and the 9th floor levels, a private residents lounge, braai areas, kinetic gym and pet park, a residents pool, a laundry, a waterless car wash, and pods which include yoga, gym facilities, and a co-working area.
Station House is able to function off the electrical grid, with generators providing full power to the entire building. There is also a water reticulation and water filtration system. A bespoke community app has been created for the development which allows users to make bookings at all of the facilities within the building.
Lesley Rensburg, DG Properties sales agent, explains that there has been massive demand for the apartments at Station House and that only 61 are still available to purchase.
"From the outset the developers of Station House - Berman Brothers, in partnership with D2E Properties - set out to make the apartments as affordable as possible to assist people to get their foot into the property market. This attractive pricing, coupled with the developments' unique design concept and location, has fueled demand from value seeking buyers who are in pursuit of lifestyle living."
Available apartments at Station House (which is marketed by DG Properties) range from studio's starting at R1,875 million, one-bedroom units from R2,595 million, and two-bedroom units from R5,295 million. There is only one three-bedroom apartment left, which is on the market for R8,850 million.
The 44-room boutique hotel at Station House, situated on the 1st, 2nd and 3rd floors of the building, offers investors an alternative property asset option within the Atlantic Seaboard, and there has been healthy demand for these units - with only 16 still available to purchase. Prices start at R2,765 million and include a basement parking, a furniture package and a storage unit.
"Hotel investors will receive an 8% estimated annual return, with a guarantee of up to 4% of the estimated return on the purchase price (ex-VAT and price of the furniture package) for three years (return uncapped subject to hotel performance)" explains Robin Magid, Founder and Director of D2E Properties. "Investors get to enjoy 14 free off-peak nights per year at the Station House boutique hotel, as well as access to an array of diverse amenities within the building, and an additional seven nights at one of the other hotel destinations within the chain."
According to Magid, there is a minimum hotel investment period of five years (inclusive of a 180-day notice period) and the hotel operator will pay the investor any VAT refund that is received when the unit is placed into the rental pool.
"The beautiful and modern Station House development has a distinctly international feel that is in tune with global trends and brings a new lifestyle concept to Sea Point," says Alexa Horne, MD of DG Properties. "This exciting building redefines the design of mixed-use developments in South Africa. It offers a wonderful opportunity for those who wish to buy-to-live or those looking for a premier investment opportunity."
Work on Station House is expected to be fully complete by November 2022, with the Pick n Pay grand opening on 25 August 2022, the ground floor restaurant, Sonny & Irene, is set to open its doors from 01 September 2022, and the Rooftop Restaurant, No. 9, will open from 01 October 2022.
For more information on Station House contact DG Properties on 021 433 2580.
Author: Real Estate Investing