Cape Town Waterfront Project

What's Great about Cape Town and it's Waterfront?

The location is a mere 10min walk to the international V&A Waterfront shopping centre, with Cape Town's finest restaurants at your fingertips, as well as a grocery store. Water taxis can be taken to the centre of town. Just on the other side of the mountain, 15min by car, takes you to Cape Town's most beautiful beaches in Camps Bay and Clifton.

A challenging golf course, at the base of the iconic Greenpoint Stadium, is just 2 minutes drive from your apartment.  Take your family to the Cape Town's amazing Two Oceans Aquarium, just 10 minutes walk away, and see their massive tanks filled with sharks and other marine predators, but also colourful tropical displays of sea life.

Cape Town Seasons
Most tourists visit Cape Town during the long summer from November to February. A Mediterranean climate with little rain, 11 hours a day sunshine or more and long sunny evenings sets a party mood. The Californian weather explains why Cape Town has become a favoured site for foreign film and TV crews escaping from the Northern Hemisphere winter.

In recent years, the normally prevailing summer south-easter wind, the famous Cape Doctor, seems to have abated. Maybe El Nino or global warming is to blame. If the wind does blow and you're after a tan or the beach, remember that mornings are usually much less windy, and that certain beaches (Clifton, Boulders) are much more protected than others.

Conventional local wisdom used to be that spring (September and October) and autumn (April and May) are the smart times to visit Cape Town. They are usually balmy in-between seasons, with little wind, when nature is at its showiest. If you're into flowers or whale-watching, or seeing the vineyards at their best, these are great seasons to be in the Cape.

Whatever season you have chosen to visit Cape Town, be warned of the old joke. Cape Town has four seasons - sometimes in the same day. This is especially true if you plan to go hiking or be outdoors.

2 week shares in our Cape Town Waterfront apartment are available from only  R400,000.  This price is fully inclusive of all taxes and duties but does not include the cost of local legal advice at the option of investors. 

Return on Investment

Average daily rental on these apartments in the V&A Waterfront is R3,200, with rates set according to the season.  Given our avaerage occupancy of 80%, this could provide a gross rental yield of 9% on your investment. 

Management Levies

Management levies are set at R1,700 per month for a 2 week share.  This enables us to offer you a hassle-free holiday experience and shared maintenance costs.

Your levy is due from the month of signing.

The levy covers:

• all insurance

• all maintenance

• estate levies

• groundrent

• furniture and fittings replacement fund

• water and electricity

• weekly cleaning services

• auditors and financial reporting

• satellite tv

• broadband internet

  replacement and refurbishment provsiion

• rental advertising

• holiday exchange clubs membership

• our management fee 

Potential for Investment Growth

Property appreciation is clearly something that Fractional Development Express cannot guarantee. As with all investments, prices can go down as well as up. 

Tax Implications 

We are unable to offer you detailed tax advice.  Fractional Development Express is able to provide investors an overview of tax consequences in South Africa, but unfortunately cannot offer specific advice pertaining to tax implications within investors home tax jurisdiction.

From whom am I buying my interest in the apartment?

FD Express LLP, a limited liability partnership registered in England and Wales is acting as agent for current shareholders for the resale of their shares.

What exactly am I buying?

Shares in Altmore 104 Shareblock (RF) (Pty) Ltd which provide the right of use of the apartment Altmore 104 in the Altmore Block, V&A Marina, Dock Road, Cape Town, South Africa.

What is the nature and content of the rights?

Right to use the apartment for 2 weeks each year, such use to include the right to rent out the weeks or exchange them. Rights to attend and vote at an annual meeting and to receive the annual Report and Accounts.

When can I make use of the apartment and for how long?

The right of usage is defined in the allocation table, which provides each shareholder with 2 weeks per year in perpetuity and is updated at least annually.

From when can I start to use the apartment?

Usage rights commence as soon as the Share Transfer Agreement has been signed and payment of the purchase price (or first instalment, if a payment plan has been agreed) has been made.

What will it cost me?

A consideration of R400,000 for the shares, and R1,700 per month in respect of levies for the first period of ownership. Thereafter levies will be determined by recommendation of the property manager and agreed by a majority of shareholders at the annual general meeting.

When will I have to pay the purchase price?

The purchase price must be paid within 14 days of signing of the Share Transfer Agreement.  If a payment plan has been agreed, the first installment must be paid within 14 days of signing. 

What other services can I receive (eg discounted hotel stays and flights)?

The property will be insured, maintained and managed by the property manager. Rental arrangements will be managed on your behalf should you wish to rent out your usage rights at any time. Swaps for usage of other properties managed by FD Express will be arranged.

Has FD Express signed a code/codes of conduct and, if yes, where can it/they be found:

FD Express has not signed a code of conduct. However the principles of its operations and conduct are publicised on its website.