Frequently Asked Questions

Apex Private Equity Partners

Apex Private Equity Partners (APEP) is a niche asset management business founded in Cape Town, with assets and property investments throughout South Africa. Through embracing and unpacking complexities across the property investment landscape, the business provides investors access to proprietary assets that deliver strong risk-adjusted returns across market cycles.

www.apep.co.za

Elemental

At Elemental, we believe that design is more than mere recreation and imitation. It is about spaces, buildings and interiors that are intuitively designed around our customers and guests needs, with the aim of creating modern, forward thinking, curated real estate & hospitality offerings – benchmarks for inner-city living.

Through collaboration with innovative architects and inventive designers we create luxurious, signature developments, located in prime and strategic locations within the Cape Town Metropolitan and along the picturesque Atlantic Seaboard. Each providing amenity rich environments, whilst focussing on delivering inspiring architecture, owner-centric design and experiential communal facilities, seeking to both inspire and connect. Overarching this, is a desire to engineer quality, value and sustainability for both homeowners, as well as investors.

It is our boutique approach, in everything that we do, with meticulous attention to detail and world-class finishes, that sets us apart.

www.elemental.sa.com

Darryl Croome Architects

Darryl Croome Architects is an integrated practice with a holistic approach that incorporates master planning, architecture and interior design.

With more than 30 years in the industry, Darryl Croome’s extensive experience is complemented by a specialised commercial, industrial, hotel and residential team led by talented project architects with experienced, well-trained technicians and interior designers.

www.dcarch.co.za

Bone Studio 

We believe design is not just about aesthetic enhancement. It’s about maximizing potential of space and functionality to elevate your quality of life.

www.bonestudio.co.za

The tender for the main contractor commences in June, 2024.

Should you wish to join the tender please email your credentials to tenders@thedailygreenpoint.com

Smith Tabata Buchanan Boyes (STBB)

With the right attorney and legal information, you make informed decisions. Practicing from 11 branches throughout South Africa, STBB offers clients access to a powerful team of more than 90 independent-minded attorneys who are dedicated to client service. Our list of services include:

www.stbb.co.za

Betterbond

The easiest home loan pre-approval. BetterBond DigiApp lets you pre-approve without supplying all the documents

https://digiapp.betterbond.co.za/AngeliqueClaassens/22251/57327

Valor Hospitality

We are a full-service hospitality acquisition, development and management company of alternative thinking enthusiasts, driven by excellence and innovation. We create memorable customer experiences and deliver exceptional commercial performance for branded and independent hotels and resorts around the world.

www.valorhospitality.com 

2 Cavalcade Rd, Green Point, Cape Town, 8005

View it on Google Maps: https://maps.app.goo.gl/kSurKYYpW31NBbRp7

Demolition has already taken place. Construction is expected to start in July, 2024 and is estimated to be completed in March, 2026.

8 storeys comprising 87 apartments.

• Ground to fifth floor: studios, 1 beds & 2 beds
• Sixth and seventh floor: seven exclusive 2 & 3 bed duplex units, with controlled access and private roof top pool deck and entertainment/braai area.

Apartments on the ground to fifth floors at The Daily come with standard finishes and buyers will have a choice to upgrade these when finalising their purchase. Duplex penthouses come standard with the upgraded spec and buyers will have a choice of certain further premium upgrades.

Download Specification Document | Unit Upgrades

• Large luxury lobby with reception, concierge, luggage room, security and management offices
• 24 hour concierge service
• Wine bar
• Ground floor restaurant and coffee shop
• Roof top bar & cafe
• Residents’ rooftop pool deck
• Private rooftop pool deck for penthouse owners and guests
• Premium gym, with changeroom, shower facilities and sauna
• Dedicated co-working space with hot desks, meeting rooms and break-out areas
• Commercial laundry
• Multiple lifts
• Valet service
• Secure basement parking
• Uber / Taxi embayment
• Centralised VRV A/C system throughout the building and units

All units will have a smart metering system which allows for the individual metering of Electricity and Hot/Cold water usage. This can be monitored via App or desktop, allowing homeowners to view energy and water usage remotely, with easy to view graphics and information. Furthermore the system allows for alarming in the event of potential water leaks and the setting  of thresholds for monitoring over usage of electricity or water. All metering is linked to an e-wallet system.

• Reception with front desk-personnel, full-time concierge and 24hr onsite security as well as armed response link.
  CCTV security cameras throughout, linked to offsite monitoring.
  Fire detection and fire protection systems.
  Biometric, Smart Electronic door locks and keyless access to units.
  Biometric Smart access to all individual floors.

• Duplex apartments will have 2 parking bays (valued at R300 000 each) included in the purchase price.
• One and two bedroom apartments will have 1 parking bay (valued at R300 000) included in the purchase.
• Studio apartments will not come with parking included.
• Additional parking bays are available for purchase for R300 000 per bay
• Dedicated EV charging bays will be available, supplied by Smappee
• Substantial visitor parking available
• Motorcycle Bays available

Storerooms available for purchase, ranging in size from 3m² – 16m²

There is a centralised VRV air conditioning system throughout the building, including all units, inclusive of living areas and bedrooms. VRV systems allow for individual climate control settings for each zone, whilst minimising energy consumption and delivering optimum energy savings.

Yes, and these will be a requirement in order to join the rental scheme operated by Valor Hospitality.

DOWNLOAD FURNITURE PACKS

Hybrid Solar PV / Generator system is present. This system will consistently run the entire building and all apartments, to mitigate any effects of municipal power outages.

• EDGE certified
• Rainwater harvesting system
• Low energy lighting and occupancy sensors
• Waterwise fittings
• Low E Glass throughout
• Eco-friendly Building Materials

High-speed Fibre connectivity ensures residents have super-fast internet in their apartments. This will be for the owner/residents account and the appointed ISP will need to be contacted to open/activate individual accounts.

Common Wi-Fi to the reception, residents amenities and facilities will be available.

Multiple elevators available

The Daily is pet-friendly and pets shall be allowed subject to trustee approval.

Our preferred short-term rental management company, Valor Hospitality, offers 5 star services that you’d expect from a hotel, together with the freedom, space, and individuality of a self-catered home. The short-term rental projections have been provided by Valor Hospitality based on existing rentals achieved in similar apartment blocks. To download the full report with calculations please click here.

Once a unit has been secured by the owner, the following additional purchases need to be made in order for the unit to be placed into the rental scheme and managed by Valor Hospitality:

1. Integrated appliances (directly from the developer)
2. Furniture pack (supplied by BONE STUDIOS)

In short, no. This is a premium aparthotel scheme with the building and services managed / provided by Valor Hospitality, our dedicated on-site short term rental operator.

Yes, absolutely. The revenue generated from letting is for that exact unit, so you can have it in or out of the scheme as and when you wish. You will therefore generate less income the more you occupy the unit.

Yes, and these will be a requirement in order to join the rental scheme operated by Valor Hospitality.

In short, no. Owners will need to purchase a furniture pack from Bone Studio in order to conform to the aparthotel standards, a level of product in line with the operation and to ensure maximum yield / return for the owner.

Should you initially not opt for a furniture pack. You will need to refit the unit with a furniture pack, prior to doing so. This can be facilitated through Bone Studio.

Should you wish not to opt for the short term rental services, you are not required to purchase a furniture pack.

You may rent your unit out on a long term basis directly or via a rental agent of your choice. We will provide a long term rental service as well, should they wish to utilise that

• Sales launch online at 1pm on Wednesday, 10 July 2024 via the interactive price list: https://sales.thedailygreenpoint.com/
• Ahead of the sales launch you will be able to view and browse all the available units by visiting the user-friendly interactive price list
• Here you can easily browse the available units and use the filters and sort function to narrow down your search
• On each unit the layout, all costs and expected rentals are shown
• Once sales go live you can reserve your preferred unit/s

Your shortlist acts as a wish list of units that you have quick access to ahead of and on the launch day. Simply click the ADD TO LIST button on your favourite units. You can also reserve your preferred unit directly from the Shortlist when sales go live.

To unlock your discount, simply click the green discount button below the price on any unit and follow the prompts to complete your Buyer Profile & unlock the discount on all units. Once completed, the discounted price will show on the price list.

Terms & Conditions apply.

All reservations will happen online via the interactive price list.

The below list outlines the steps you’ll need to be familiar with in order to have the best chance of securing the unit you want to purchase.

1. Register and log in to sales.thedailygreenpoint.com
2. Once the countdown reaches zero and sales go live at 1pm, you will be able to Click the GREEN RESERVE button on your selected unit to start the process.
3. Make sure to be quick as others may also be interested in the same unit.
4. Complete the form and accept the terms: Click CONTINUE
5. Your reservation will now move to the pending state where you will have 10 minutes to finalise the reservation.
6. You may now select an additional parking to your purchase if necessary.
7. You will then pay your R10,000 reservation fee via the following methods:
   • Visa or Mastercard
   • Instant EFT via OZOW
   • Masterpass
   • Snapscan
8. Once the R10,000 fee is concluded, your unit will be reserved!*
9. You will then receive an email from our team confirming your reservation.

Next steps:

• The Agreement of Sale will be sent to you via email, this will need to be signed and returned to us within 48 hours from receiving it.
• The full deposit required is 10% of the purchase price within 3 days from receiving a signed agreement of sale. The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest for you.
• The balance (90%) will need to be secured within 21 days by either a bond approval, bank guarantee, or cash.
• Alternatively, we will also accept a 30% non-refundable deposit with the balance payable 60 days prior to the transfer.

• R200 000 launch day discount
• Best selection of units
• Extremely limited number of units being released by the developer
• Capital appreciation for 18 months is estimated at 10,5% (7% pa) while the development is under construction
• Rare opportunity to own in an exclusive Cape Town neighbourhood, with a prime location and proximity to key amenities and tourist attractions

The developers have made 30 apartments available for sale to the public and will retain the balance of the apartments for the aparthotel.

Financed deals

1. Minimum 10% deposit with the balance in the form of a bond approval
   • Deposit to be paid within 3 days from receiving a signed agreement of sale.
   • The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest for you.
   • The balance (90%) will need to be secured within 21 days with bond approval

Cash deals

1. 30% non-refundable deposit with the balance payable to the transferring attorneys 60 days before lodgement
2. Minimum 10% deposit with a bank guarantee for the balance of the purchase price supplied within 21 days of purchase

Yes, the deal is subject to your bond being approved and should it not be approved the deposit is paid back to you with interest. If you are unsure if you can afford the bond it is a good idea to get pre-qualified prior to the launch as the R10,000 reservation fee is not refundable.

Bond repayments will only commence after the development has been completed and once the transfer of the apartment you have purchased, has taken place.

Bond costs are payable at the time that the bond registers, once the development is complete.

There is no transfer duty payable but there are transfer fees (attorney costs).

The seller is registered for VAT so there will be no transfer duty but only transfer costs payable.

On a purchase price of R2,299 million, the transfer costs will be R40 142*

To calculate the transfer costs you can click on the below link: https://www.betterbond.co.za/calculators/bond-and-transfer/

NB: Please select yes when it asks if the seller is registered for VAT.

*Please note these are subject to change

Levies are determined in terms of sectional title and exclusive use area of the apartments, parking and storeroom levies are calculated at a standard rate to be determined.

They cover the costs of security, cleaning & upkeep of the common areas, maintenance of the building, building insurance and all running costs and management costs and insurance of the building.

Monthly rates are based on the value of the property and are calculated based on the value of the property and then multiplied by 0.006344 to get your yearly rates. Divide this by 12 to get your monthly rates.

Example:

(R2,299 million property)
R2,299,000 x 0.006344 = R14 584 per annum
This equates to R1 215 per month

No hidden costs. VAT inclusive, no transfer duty. Rates, taxes and CID will apply.

The contract price is the price the client will pay for the property. You must be aware that there is occupational interest due from the date you take occupation until you take ownership (transfer takes place).

The other costs applicable are detailed above and include monthly rates and levies. Bond costs will be payable prior to registration of your bond once you take transfer of your unit. Transfer costs at this point will also be applicable but these costs are largely offset by the interest that you earn on your deposit during the construction period.

After the completion of the development, the transfer process will commence. Occupation will be given as soon as an occupation certificate is granted. You will be able to occupy or rent out your apartment from the date of occupation.

1. Cape Town sees an average annual capital growth of 7%, so your property value is growing at roughly 7% pa but you are only required to put down 10% of the development value.
2. This means you are getting growth on the full purchase price of the property and only have to put down a fraction of the price.
3. Your tenant is largely paying off your investment property & bond for you.
4. Your rental income increases every year but bond repayments generally stay the same and in relation to yearly salary and incomes inflating, the bond repayments become relatively cheaper every year.
5. There is high demand for secure luxury property in Cape Town’s City Centre and Atlantic Seaboard, resulting in a secure long-term investment.
6. The longer it takes to enter the property market the harder it becomes.
7. Property investment is likely to create long-term sustainable wealth and an ever-increasing annuity income.

Investors have access to powerful tax incentives, including the popular Section 13sex of the Income Tax Act No 58 of 1962. This scheme enables any taxpayer who owns five or more new, residential rental units (do not all have to be from the same development), to claim up to 55% of the purchase price as a tax deduction.

Example:

• Purchase five units at a total purchase price of R19 868 075
• Minus the launch discount = R1 000 000 (R200 000 per unit, if purchased on launch)
• Final purchase price = R18 868 075
• Deemed purchase price = R10 377 441 (55% of final purchase price)
• 5% of the deemed price may be used as a tax deduction per year

This works out to a tax deduction (tax write-off) of R518 872 per year for 20 years.

Total tax write-off = R10 377 441 (over 20 years).

• The taxpayer must own at least 5 residential units. The deal kicks in once the buyer takes ownership of their 5th new unit. A residential unit refers to a building or self-contained apartment, mainly used for residential accommodation with the exclusion of structures used for business purposes, for example, hotels.
• All units must be situated in South Africa.
• Residential units must have been purchased new and unused. (For example, buyers of flats that had previously been occupied would not qualify for this incentive.)
• The units must be used solely for the purpose of trade (i.e. residential letting). This prevents housing claims for personal use.
• Please consult your tax advisor for further clarification and information.