405 THE CENTURION - CAPE TOWN

• Full renovation of a 1-bedroom, 1-bathroom, 57m2 apartment.

• 5 weeks from demolition to completion at a cost of R4415/m2 in 2018.

• Tenant was secured immediately, and rental escalated by 50%.

DALEWAY - CAPE TOWN

• Full building renovation - exterior and interior.

• 12 x 2-bedroom apartments. Duration: 4.5 months from demolition to completion.

• Total project spend R7.3mil. Internal avg spend of R5 794/m2 for 80m2 units in 2019.

• Rental increase 227% higher after renovation.

• Estimated 2,8 years to recover project spend from increased rental (excluding vacancy and escalation factors).

GLENDALE - CAPE TOWN

• Full building renovation - exterior and interior.

• 18 apartments - 6 x one-bedroom and 12 x two-bedrooms.

• Duration: 9 months from demolition to completion - including builders holiday.

• Total project spend of R9 8mil.  Internal avg spend of R6 471/m2 for 60m2 unit and R5190/m2 for 85m2 unit in 2018/2019.

• Rental increase for building was 109% higher after renovation.

• Estimated 2,8 years to recover the project spend from increased rental (excluding vacancy and escalation factors).

PENTHOUSE AT 15 ON ORANGE HOTEL - CAPE TOWN

• 236m2 internal apartment with 206m2 deck and pool area.

• Full renovation of existing hotel SPA, white boxed and converted into a 3-bedroom and 3.5-bathroom apartment.

• Duration: 5 months from demolition to completion at a cost of R20 300/m2 in 2019. 

302 PALM BEACH - CAPE TOWN

• Full renovation of a 2-bedroom 2-bathroom, 115m2 apartment.

• Duration: 2 months from demolition to completion at a cost of R5200/m2 in 2017.

• A tenant was secured immediately after completion and rental escalated by 66%.

• Estimated 6 years to recover the project spend from increase in rental (excluding vacancy and escalation factors).