Investment into Cape Town’s CBD property market seems to be enjoying the first signs of post-pandemic optimism, with buyers keen to get in on the action, notably in the buy-to-let space. Justin van der Poel, investment consultant at Flyt Property Investments who are currently marketing units at One Thibault off Long Street, says that the sales team has been pleasantly surprised at the interest and closing rate of units in the development.

The firm initially offered units to investors via their popular Section 12J Flyt Select fund, which accounted for the majority of sales, but van der Poel says that the units have been popular since the expiry of SARS’s Section 12J tax incentive. Speaking at a media site inspection of the property, van der Poel confirmed the ongoing activity: “We continue to see strong interest week in and week out with only 20 units of the 167 still available,” he said.   “The sales team have achieved 31 sales in the past three months, bringing the total sales up to 147 since we launched off-plan in May.” Show units will open this week and the team are expecting a further uptick in sales.

With currently as many as six new developments or refurbished buildings on offer in Cape Town’s CBD, Property Fund Manager Ryan Flowers says that the success at One Thibault can be attributed to the competitive selling prices and Flyt’s offering. “We could definitely say that the view has a lot to do with it, but our product offering at One Thibault is extremely attractive to investors,” he explains. Flyt have stuck to their Section 12J hospitality structure, with investment into One Thibault wrapped with on-site hospitality management company, WINK ApartHotels, taking care of rental management and administration. Entry level into their studio apartments kicks off at R895 000 where an expected rental return on Investment of 6-7%.

Residential apartments, which start from the fifteenth floor of the historic building, are almost complete and studio, one- and two-bedroom units are available for viewing. The property has been designed to include co-working space, laundry facilities, an on-site restaurant, a swimming pool and roof deck, reception and concierge as well as storage space, parking and high-speed internet.   

One Thibault, a familiar icon of Cape Town’s skyline will open its aparthotel facilities to the travel industry on 1 November 2022.  The property was recently redeveloped to incorporate co-working commercial space, city apartments and will now include an accommodation-offering by WINK ApartHotels.

Cape-based management company, WINK ApartHotels has commenced with the management of 102 rooms at One Thibault, ranging from studio apartments, to one- and two-bedroom units, situated on floors 15 to 20 of the building. Units are all fully kitted to be self-catering, a popular option for short and long- stay guests and plans are in the mix to develop food and beverage offering within the next few months. General Manager and hotel specialist, Peter van Rensburg says that booking enquiries have already been excellent and interest in the units is high as the city enjoys a tourism recovery phase thanks to the so-coined post Covid ‘revenge travel’. “One Thibault wins the location race hands down, and the breathtaking views which can be enjoyed from every unit available are going to make many an Instagram story,” he said.

Towering over the CBD, One Thibault enjoys access to all that Cape Town has to offer; the natural amenities of Table Mountain, the nearby leisure parks, beaches, and vineyards; all enjoyed with the convenience of being in the city. The property is within walking distance of the Cape Town Convention Centre, is on the MyCity Bus route, and neighbours some of Cape Town’s best restaurants and nightlife in the famous Bree Street vicinity (La Parada, Sza Sza and Villa 47  to name a few).

One Thibault Square, originally known as the BP Centre was completed in 1972 and was designed with a 34-degree diagonal twist, which puts it on a north–south axis which means that all the facades have views of either the mountain or the harbour. WINK One Thibault is the tallest residential building in Cape Town and the hotel accommodation-offering, with its contemporary decorated apartments make the most of these panoramic views of the vibrant city and all it has to offer.

Opening rates start at R1120 per room per night and bookings can be made at www.winkaparthotels.co.za

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About WINK ApartHotels

The WINK Aparthotels group manages a collection of trendy aparthotel properties throughout Western Cape, South Africa. The group currently manages four properties; WINK Foreshore, which is situated in Cape Town’s CBD, WINK Eaton Square, in the southern suburbs of Diep River, WINK Quivertree which services the student market in Stellenbosch and more recently WINK One Thibault, towering over Cape Town’s CBD.

WINK Aparthotels provides travellers with the convenience of apartment living, the comfort,  and luxury and convenience of a hotel.

Website          :           http://winkaparthotels.co.za  

Email               :           info@winkaparthotels.co.za  

Flyt Property Investment have negotiated a partnership with TriStar Construction at the recently launched Saxon Square.   Situated in Rosebank, Saxon Square is Flyt Property’s first managed development in Johannesburg and their partnership with TriStar translates into an appealing investment opportunity for investors looking for a comprehensive short-term hospitality rental management solution with excellent returns.  

Flyt’s Development Manager, Ryan Flowers says, “We believe in adding value to property through joint ventures and we’re very happy to be involved in creating this investment opportunity with TriStar on a really outstanding development.”

Saxon Square’s 134, fully-furnished studio and one-and two-bedroomed apartments will offer tenants the privacy and comfort of apartment living along with all the conveniences and services of a hotel – suitable for business and leisure travellers looking for short- and long-term rental options with easy access to transport links, retail outlets, restaurants and bars.  Amenities include a 24-hour concierge, biometric access control, coffee shop, rooftop garden and co-working lounge. Utility costs are low, with eco-friendly and cost-saving elements built into the design.

Flyt’s management team will oversee all functions required to run a unit including the paying of levies, and rates and taxes on the owner’s behalf, with on-site management being taken care of by the group’s long-standing management partner and Aparthotel specialists, WINK Aparthotels.  Additionally, with a Flyt-managed VAT refund claim, investors will receive 40% of the VAT on their purchase price back in the first year, in cash, providing investors with a bonus cashflow of 6%; the remainder of the VAT is used to fund the furniture pack and fit-out costs which means that the investor is  not out of pocket.

“The property’s location, excellent price point (with no transfer costs) and great returns combined with our on-site rental management option makes investment into Saxon Square a smart buy,” states Flowers.