What is the address?
377 Main Road, Sea Point, Cape Town, South Africa, 8060
(Corner of Arthurs Road and Main Road)
Who are the architects on the project?
Who is the construction team?
Rawson Developers. With over 30 years of experience, Rawson Developers has successfully launched and built more than 3,500 apartments and homes in over 50 different developments.
How do I purchase an apartment?
- Sales go live on the 21st of September at 12:00 midday.
- Units purchased at launch will receive a R200 000 discount.
- Prior to the launch you can create a shortlist of your favourite apartments on https://rawson.propdeploy.co.za/sales
- Once sales go live, to reserve a unit, simply complete the online reservation process by filling out your details and paying a R5 000 non-refundable deposit via PayStack using any the following methods:
- Credit or Cheque Card
- OZOW Instant EFT
- There may be other purchasers trying to reserve the same unit. Please note the unit is only reserved once you have made payment of your reservation deposit.
To ensure you get the unit you want please try and complete this process as fast as possible and have all details ready to avoid any delays in completing the payment process.
- Once you have made payment of the reservation deposit, the unit will be reserved and you will receive a confirmation email to confirm your reservation.
- An agreement of sale will then be emailed to you, which you’ll need to sign and return to your assigned agent within 24 hours.
(Please note electronic signatures not permitted, you will need to print, sign in wet ink and scan back to us)
- You as the buyer then have 7-days to pay your deposit of 10% of the purchase price into the conveyancer’s (STBB) trust account. The funds will be held in a trust account and will accrue market-related interest in your favour, the purchaser until the apartment is transferred in 2024.
- You will need to secure the balance of 90% of the purchase price within 14-days from the date of signature. This can either be secured through a bond approval, a bank guarantee or cash.
- Alternatively, we will also accept a 30% non-refundable deposit with the balance payable 60 days prior to transfer in 2024.
Am I able to secure/reserve a unit ahead of launch?
We value all our buyers and thus everyone has an equal opportunity to get their preferred unit on the launch day so there will be no pre-booked units.
How do I qualify for the R200 000 launch discount?
- Complete your Buyer Profile to activate/unlock your discount at https://rawson.propdeploy.co.za/sales
- On the launch day (21 September 2022) reserve your unit/units
- The discount applies to each unit you purchase.
- Sign an Agreement of Sale and pay your 10% deposit within 7 days
- Get your finance approval within 14 days (natural person) & 21 days (company) from the acceptance of your agreement of sale.
*If finance is not approved and the deposit is not received within the above-mentioned time frame then the launch discount will no longer be applicable.
When is the completion date?
The anticipated completion date is March 2024. The transfer should take place approximately 2 months after completion.
Are short-term rentals / Airbnb bookings permitted?
Short-term rentals will be allowed through a preferred short-term letting agency for the building.
What does the security consist of?
- 24-hour concierge service
- 24-hour manned security
- Biometric access controls
- Strict digital guest signup system
- Video intercom to each unit
- CCTV surveillance with on-site as well as off-site monitoring
Is there Parking?
There are 31 parking bays at The Sage.
Two-bedroom apartments come with 1 secure parking bay and you have the option to purchase a second parking bay – depending on availability.
Studios and One-bedroom apartments do not come standard with parking however there are 25 bays available to purchase should you wish to purchase one. This can be done online when you purchase your unit.
Micro apartments (smaller than 30m2 internally) do not come with parking and do not have the option to purchase a bay.
The limited secure parking bays are available at R250 000 incl. Vat per bay and are only available on the Studios, One-bedroom and Two-bedroom apartments. Parking bays can be purchased when you purchase your unit online.
What kind of returns can investors expect?
Historically, capital growth in an area like the CBD has seen an average of around 7% per annum, plus a rental returns between 6 & 9% gives you an annual return of 13 & 16% per annum which is an almost unbeatable investment.
In short, you can own an apartment for just R2195 per month – see calculations below which are based on a R1 490 000 apartment:
- You get R200 000 discount if purchased on launch day meaning the purchase price is now R1 290 000
- A 90% bond will cost you R 10 446 per month at the prime lending rate.
- Rates and levies: R1 749 pm
= Total monthly cost: R12 195 pm
- Estimated monthly rental: R10 000 pm
- Your monthly contribution: R2 195 pm
Benefits of buying on launch day include:
- R200 000 off the asking price on launch day
- Rental guarantees on selected units
How do I apply for a bond?
Rawson Finance can assist you at no charge and will apply to all the major banks on your behalf to find you the best interest rate. Should you need their assistance please let us know and we can put you in touch with them.
If you would like to make the process as easy as possible we suggest you get a pre-approval done before launch day, which will make the process much quicker once you have secured your unit.
Please let us know if we can assist you with a pre-approval.
Section 13Sex Tax Incentive
Investors still 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, to claim up to 55% of the purchase price as a tax deduction. (Deductible over 20 years)
How it works
- Purchase five units at a total of R9 million
- Discount = R1 million (R200 000 per unit, if purchased on launch)
- Final purchase price = R8 million
- Deemed purchase price = 55% of final purchase price (R4,4 mil)
5% of the deemed price may be used as a tax deduction.
This works out to a tax deduction (tax write-off) of R220 000 per year for 20 years.
Total tax write off = R4 400 000 (over 20 years).
Taxpayer Criteria for Section 13Sex :
- 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.
In order to claim the tax allowance and/or incentive and/or deduction, certain requirements have to be met. The listed examples may not apply in certain instances. The Developer, its representative and/or its agents, do not provide tax advice. All material in respect of the Development has been prepared for information purposes only and it is not intended to provide, and should not be relied on for, tax advice. Before concluding any transaction with the intention of making use of either of these tax incentives, the Developer specifically advises that a purchaser should consult his/her/its own tax adviser. The Developer cannot be held liable for any loss, howsoever arising. Furthermore, the availability of these tax structures to any purchaser is not a warranty, express, tacit, implied, or otherwise, from the Developer in relation to the transaction.
Fibre & DStv
Every apartment comes with fibre & DStv connection.
There is Wi-Fi in the business lounge and common areas.
Full lift access via 2 lifts is provided from the ground level to every floor.
Lifts are on back-up power during load shedding
There is Solar Power on the rooftop.
There is also back-up power for lifts and common areas including common area Wi-Fi.
Electric Vehicle Charging Station
There is an EV charging station in the building
Business Lounge and office facilities
Wi-Fi with back-up power.
Printing & scanning facilities.
Lighting and equipment all on back-up power.
Additional Extras that can be purchased with the apartment
- Furniture packs
- Inverters (5KVa)
- Parking (as mentioned above)
Electricity & Water Prepaid
Electricity and water are prepaid and meters will be installed in each apartment.
Furniture & Appliance packs
These will become available towards the completion date of the development. Please enquire with our sales team should you wish to find out more.
The Sage is pet friendly for small pets.