flyt property – Flyt Property

June 17, 2025 Murray News150 Buiten, Cape Town Property Investment, flyt property, Investment Property, property investment, Short tern rental investment

City of Cape Town Approves 150 Buitengracht Development After Rigorous Redesign and Community Collaboration

The City of Cape Town has officially approved the 150 Buitengracht development by Flyt Property Investment, bringing to a close a rigorous multi-year process marked by extensive design revisions, heritage considerations, and community collaboration.

Originally launched in 2021, the project has evolved significantly in response to public engagement, heritage concerns, and insights raised by the Bo-Kaap Civic and Ratepayers Association. Situated at 150 Buitengracht Street, the development lies adjacent to the culturally significant Bo-Kaap and the historic Auwal Masjid, which prompted heightened scrutiny and a high level of design sensitivity to preserve the integrity of the area.

“The engagement process reflects a remarkable effort by the facilitators, Bo-Kaap community representatives, and the developer,” said the City of Cape Town’s Municipal Planning Tribunal (MPT). “It resulted in consensus on the form the development should take.”

A facilitation process led by the South African Heritage Resources Agency (SAHRA) between 2022 and 2023 resulted in a substantial redesign, documented in a 63-page report dated 30 June 2023. The revised proposal reflects significant adjustments aimed at preserving the integrity of the Bo-Kaap’s heritage while addressing community concerns.

Key changes include:

Element	Pre-facilitation Proposal	Current Proposal
Maximum Height	8 storeys	6 storeys (reduced by 6.6m)
Buitengracht Street Façade	5 storeys	3 storeys (40% less)
Site Coverage	652m²	493m² (24% less)
Floor Factor	3.9	3.6
Total Floor Area	2,586m²	2,385m² (201.5m² less)

The City found the final design to be “context-sensitive,” striking a careful balance between modern urban renewal and the preservation of Cape Town’s unique cultural and architectural heritage.

“This has been a long and rigorous process,” said Ryan Flowers, Managing Director of Flyt Property. “But we are proud to have worked alongside the City, the Bo-Kaap community, and heritage bodies to ensure 150 Buitengracht honours its surroundings while adding value to the urban fabric of Cape Town.”

Flyt Property Investment has committed to creating a thoughtfully designed mixed-use building that blends with its environment while meeting the needs of a modern, vibrant city. The project will feature:

67 residential units, ranging from studios to two-bedroom apartments
Ground-floor retail spaces, fostering a dynamic streetscape
A rooftop restaurant and entertainment area, offering panoramic views of Table Mountain and the city
Secure underground parking, ensuring convenience for residents and visitors

The City of Cape Town praised the process in its final remarks, stating: “The concerted and meaningful effort to accommodate residents’ concerns has resulted in a context-sensitive development that both protects heritage and promotes sustainable development.”

In his endorsement, Executive Mayor Geordin Hill-Lewis commented, “This is a positive and important milestone. The project is a model for how we can manage sensitive infill development that meets our city’s growing housing and business needs without losing the essence of who we are. The outcome reflects how collaboration can shape a more inclusive and heritage-aware Cape Town.”

With final authorisations now confirmed and all appeals now concluded, construction of 150 Buitengracht is expected to commence later this year, with completion targeted for 2026.

June 1, 2020 Murray MediaCape Town property, Eaton Square, flyt property, Investment Property, mixed-use, property investment, residential property, section12j

Eaton Square prepares units for COVID 19 quarantine stays

Flyt Property Investment’s recently launched Eaton Square in Diep River has made units available to those affected by COVID 19. These new, furnished apartments have been suitably sanitised and prepared for immediate occupation.

Preference will be given to those who qualify to be quarantined (returning from high risk countries), medical professionals or those who have been adversely affected by restricted travel plans, with units being available on a daily or weekly basis at significantly reduced rates.

Located in the heart of Constantia Valley, Eaton Square is close to top medical facilities (Constantia Medi Clinic and Tokai Melomed) and within 5 mins of Constantia Emporium and Contantia Village, should guests need any essentials or medical attention.

Eaton Square already has a meal delivery service available to tenants, fast and stable WiFi connectivity as well as a weekly cleaning service.

“As newcomers to the community we wish to help in any way we can during this crisis,” says Ryan Flowers, Sales and Development Manager at Flyt Property Investment.

Get in touch using one of the links below:
www.eatonsquare.co.za
ryan@flytproperty.co.za
http://airbnb.com/h/eatonsquare104
https://www.airbnb.com/rooms/41545988?s=13&shared_item_type=1&virality_entry_point=

April 1, 2020 Murray MediaCape Town property, Eaton Square, flyt property, Investment Property, mixed-use, property investment, residential property, section12j

Eaton Square prepares units for COVID 19 quarantine stays

Eaton Square already has a meal delivery service available to tenants, fast and stable WiFi connectivity as well as a weekly cleaning service.

“As newcomers to the community we wish to help in any way we can during this crisis,” says Ryan Flowers, Sales and Development Manager at Flyt Property Investment.

March 23, 2020 Murray Blog, Media12j, flyt property, FWJK, property assets, property investment, section 12J, section12j, tax rebate, Zane De Decker

Investors make the most of Section 12J Tax Incentive

The close of the 2020 financial year this February brought a scramble of last-minute investors through the Section 12J gates, angling for that most welcomed tax rebate. Cape-based Flyt Property Investment saw their rate of capital raising double within the last week of February as investment into their Flyt Hospitality Fund caught the attention of property investment group FWJK. A total of R170million has been raised since the launch of the fund in November last year, with R80million subscribed within the last week.

Zane De Decker, managing director at Flyt Property Investment, says that his team was burning the midnight oil, processing a flurry of investors into their fund. “We finally see that investors are responding to this incredible incentive provided by SARS. 100% of your tax back should be a no-brainer and good quality hospitality property, as an underlying investment, is a winning combination,” he says. “We’ve taken our time in formulating an attractive investment and lowered our entry-level in order to cast our net wider, allowing more investors the option of jumping onto the bandwagon.”

Flyt Property Investment’s hospitality fund entry options have been particularly appealing to investors looking to cash in on the 12J incentive. The fund managers, together with 12J specialists Anuva Investments, introduced a loan option whereby the total investment amount can be subscribed via a structured bridging loan. Flyt provides qualifying investors with an interest-free loan with a fixed administration fee of 2,5%. Pretty competitive if one compares most bridging finance in South Africa, available at between 12% to as much as 20% interest on the loan amount.

Many of the last-minute contributions came by means of international property group FWJK who found the structure to be a worthwhile tax benefit for their investors and co-developers. FWJK has developed property assets to the value of R8 billion and is most noted for their residential, medical, commercial and industrial property developments and, more recently, the Zero to One development touted to be Cape Town’s tallest building. Of their 49 total developments, three are apartment hotel developments located in KZN’s Umhlanga and the Cape Town suburbs of Sea Point and Clifton, and available to investors via the Flyt Hospitality Fund. This recent move into the 12j space has resulted in these projects being close to 100% sold.

Commenting at a 12J closing event this week, Dave Williams Jones, CEO of FWJK, said, “We expect the number of investors into this fund to grow exponentially as the benefits of investing via Flyt’s Section 12J fund and specifically in FWJK products becomes more widely known.”

Section 12J of the Income Tax Act was introduced in 2009 by the South African Government to encourage South African taxpayers to invest in local companies and receive a 100% tax deduction of the value of their investment. Flyt Property Investment introduced its Section 12J hospitality offering to investors in November 2019.

February 8, 2020 Murray Blog100% tax deduction, Bakari, blockchain, flyt property, FLYT token, Investment Property, section12j, token, Zane De Decker

Flyt Property Investment launches Africa’s first property-backed security token

Cape-based property investment specialist Flyt Property Investment have launched Africa’s first property-backed security token. The Flyt token (FLYT), which resides on the Ethereum blockchain, allows investors to subscribe for, redeem and transfer shares in the Flyt Hospitality Fund, a South African Section 12J fund investing in hospitality property and apart-hotels. One Flyt token is equivalent to one share (which is currently valued at R100) in the Flyt Hospitality Fund.

The breakthrough in fund technology has been developed in conjunction with Swiss-based financial technology supplier Bakari. “South Africa has a developed, forward-looking financial sector and it is not surprising to see it on a short list of countries embracing next-generation financial technology. We are proud to be working with the Flyt Hospitality Fund, which is leading in innovation by using technology to offer responsible investments directly to individuals,” says Ciaran MacDevette, Co-Founder of Bakari. This is the first example of a blockchain-based token servicing a fund operating within a regulated, legal and compliant environment in Africa. Investors who are familiar with Ethereum blockchain can manage their Flyt token via their digital wallet. FLYT is an ERC-20 compatible token on the Ethereum blockchain which can be self-custodied in existing Ethereum wallets.

Zane De Decker, MD of Flyt Property Investment says that the move to digital asset brings an exciting option for investors. “Our aim is to be ahead of the curve and with that in mind, we are thrilled to present our investors with varied options of entry. An investment into the Flyt Section 12J hospitality fund is available via old-school investment into the fund and now, for those who support the blockchain technology, via the Flyt token,” he explains. The token allows for easy, liquid infrastructure where investors can manage their asset through a trusted blockchain.

The Flyt Hospitality Fund is a property-backed section 12J fund, investing in strategically located hospitality properties with a focus on sectional-title serviced apartments and student accommodation. A minimum investment of R50 000 is required, via the token or share option, with a cut off imposed by SARS of R2.5million.

Section 12J of the Income Tax Act was introduced in 2009 by the South African Government to encourage South African taxpayers to invest in local companies and receive a 100% tax deduction of the value of their investment. To date, South Africans have invested over R6 billion into the 12J sector.

Flyt token digital subscriptions can be made via: flyt-token.bakari.ch

February 4, 2020 Murray Blog, UncategorizedBuy to let, Cape Town property, co-living, Eaton Square, flyt property, Investment Property, mixed-use, property investment, rental accommodation, rental property, residential property, section12j

Flyt launches Eaton Square, Diep River

The long-awaited launch of Flyt Property Investment’s mixed-use development, Eaton Square in Diep River, Cape Town, was recently held on the first floor deck of the property. A celebration of the completion of the 2-year-long project was enjoyed by the building contractor GVK-Siya Zama as well as stakeholders, investors and buyers. Two of the completed furnished apartments were made available for viewing.

Over the last few years, Cape Town’s historic suburb of Diep River has been flagged by property experts as a promising urban renewal node. Its ideal location – proximity to schools, public transport (Metro Rail’s Southern Line as well as major bus routes), hospitals and shopping centres – makes it an ideal prospect for new families and up-and-coming professionals.

Eaton Square offers 66 sectional title 1- or 2-bedroom apartments, all with undercover parking. Architect Sebastian van Greunen has included beautiful communal areas, a first-floor rooftop entertainment deck, a co-working coffee shop/restaurant that will offer residents a meal service, and a private dining room that residents can book for entertaining guests.

All units have been designed with the ‘plug and play’ or co-living concept front of mind, as explained by Flyt’s managing director Zane De Decker. “Over the last two years we have researched worldwide trends, worked extensively with property professionals and consulted the best, most forward-thinking minds in the business to truly trailblaze a new take on the modern-living concept. We want our residents to have the option of arriving with a suitcase and literally plugging in.” With this in mind, Flyt are offering a fully managed solution to investors, which delivers efficiently designed ‘shareable’ apartments, tried and tested furniture packs, up-to-date technology, and rental management with flexible rental options (days, weeks, months) – all suited for investors who would like to purchase with the intention of renting the unit out for optimal returns.

Units are also available to purchase in Flyt’s Section 12 J venture capital tax incentive fund that offers South African taxpayers a 100% tax deduction on the amount invested.