Introducing Quivertree – a trendy, new mixed-use development in Stellenbosch

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Cape-based Flyt Property Investment has announced the official launch of Quivertree, a trendy new property offering in the university town of Stellenbosch, featuring 102 self-catering, fully-furnished apartments for long- and short-term rentals or for purchase, geared not only for the student market also but for young professionals, transient  workers and business travellers.

Shoe-box living and hostel-like halls of residence are a thing of the past, with recent property trends paving the way for next-level accommodation that encompasses clever use of space, furnished offerings, shared work and living areas, on-site amenities, hospitality services and security.  “We wanted to create self-catering pods with all the extra bells and whistles for students, businessmen, golfers and everyone in between!”  says Zane de Decker, MD of Flyt Property Investment.

Quivertree is a 3-storey, mixed-use development that is a blend of student accommodation and short-term stays, bolstered by a strong corporate market comprising 102 studio/one- and two-bedroomed, fully-furnished apartments, some with balconies.    On-site services include a laundry, housekeeping, 24-hour security, a reception desk, underground parking and communal entertainment areas.  WINK Café, launching next  year will serve breakfast, lunch and dinner daily, providing a cool space to catch up with friends, do some work or make a few calls – all made eaiser with complimentary, uninterrupted wi-fi.

Quivertree’s location is super-convenient with Stellenbosch city centre just a 5-minute drive away and is in close proximity to the University’s campuses.  Cape Town International Airport and both national roads are all within a 20-minute radius – added to which the town is abuzz with shops, restaurants, cafes, boutiques, galleries and museums, and, of course, its wine routes.

De Decker adds that with price points starting at R979 000, Quivertree definitely makes for affordable living in Stellenbosch.  All 102 apartments are up for sale through the group’s Section 12J Hospitality Select Fund, making this an even more attractive investment, what with the associated tax breaks and benefits.    Furthermore, a rental pool, managed on-site, will give investors a hassle-free, hands-off investment.

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WHAT IS SECTION 12

Section 12J of the Income Tax Act – the most efficient tax saving tool, provided by SARS and government that allows you to hold on to your tax cash while investing it wisely.

The section specifically aims to help the growth of small and medium sized businesses by increasing their access to equity finance. To attract investors into this typically under-funded sector, which is imperative for driving economic growth, SARS has written Section 12J into the Tax Act, which offers taxpayers a 100% tax deduction in the year of investment if they invest in SMMEs by way of subscription of shares in a Section 12J Venture Capital Company.

Flyt’s Section 12J compliant property developments give investors the full 12J tax deduction, allowing them to put this saving/refund towards their property purchase. This means that SARS will effectively fund up to 45% of the purchase price of the property.

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