100% tenanted ready-to-let homes for sale meets market demand
Property ownership is the goal of many South Africans, especially in city centres where there are still pockets of real estate with attractive rental returns beyond the marketing hype. However, with the interest rate having risen for the seventh time in the last 12 months, this casts yet another doubtful shadow over the ambitions of first-time buyers to achieve this goal. Particularly for those who want to step up onto the property ladder for the first time.
That being said – according to well-known developers, Feenstra Group, one such development in Johannesburg’s sought-after Rosebank suburb, is offering an affordable alternative to run-of-the-mill entry-level homes that come with hefty capital outlay and rising debt bills. As a fully tenanted building, The Bolton gives first-time buyers the opportunity to not only start their property portfolio, but to do so without going into the red long-term.
Johann du Plessis, Development Director at Feenstra Group says, “First-time buyers value affordability above all. We know that buying property for the first time is a huge financial undertaking, but with zero bond fees, no transfer duty, low levies and a minimal deposit, we believe we’ve put together a very attractive proposition at The Bolton. As it stands, even with the recent interest rate hike, The Bolton’s estimated yields match the current prime interest rate. In simple terms this means that your property’s capital appreciation and rental potential will ‘pay you back’ over time, not just your debt – and you’ll earn a rental income from day one to help settle your monthly bond.”
Brought to market by Feenstra Group and Emira Property Fund, The Bolton was one of the first Rosebank developments to provide affordable rental accommodation. The R210 million conversion of former offices into residences is now taking its rental-only model and transforming it into sectional title opportunities, perfect for first-time buyers who want to invest in property. As a currently 100% tenanted offering which gives investors the immediate opportunity of rental collections after transfer, The Bolton is an astute property purchase for innovative investors.
“This last interest rate increase has put the interest rate at a five-year high – there’s no question about it, the cost of debt in South Africa is high. Getting on the property ladder is so riddled with barriers for first-time buyers as it is, which is why we sought to meet newcomers to the industry in the middle. Rather than buying somewhere less desirable, first-time buyers have the opportunity to purchase property in affluent Rosebank because their investment will earn them rental returns to help build equity. This is a new approach for achieving the goal of homeownership and – importantly – it means not putting your dreams on hold,” adds du Plessis.
The Bolton offers studio, 1- and 2- bedroom apartments starting from R749 000. In addition to its affordability and central location, the lifestyle created by The Bolton’s onsite amenities adds a layer of convenience that truly appeals to first time buyers, particularly those looking for lock-up-and-go properties. The development has 24-hour security, a reception, a boardroom and work pods, a laundry room, a garden and pool, and storage facilities to make busier lives easier.
For more information about The Bolton
visit www.thebolton.co.za
Read more articles of The Bolton here.
ABOUT FEENSTRA GROUP
The Feenstra Group of companies are niche Commercial Developers & Investors, and also specialises in Strategic Facilities Management and Student & Inner-city Accommodation. The professionals associated with the Feenstra Group have proven knowledge of, and demonstratable experience in all facets of the property market. The Chairman, Pieter Feenstra has been active in the property market in South Africa for the last 30 years. We leverage our network of internal experts, strategic partners, alliances and preferred suppliers to deliver measurable results to our clients. We have developed “centres of excellence” in several areas to help our clients reduce costs while improving service levels.
