Rawson Developers, the team behind the hugely successful 148-unit The Tokyo development, is offering another opportunity to invest in premium Cape Town inner-city property.
Its new development The Carrington will boast 49 luxurious studio apartments that are priced from just R1.19 million – an excellent price for such a prime location.
These apartments will be available to purchase from 11 May 2022.
“The Carrington promises to be a game-changer in well-priced, conveniently-located, premium apartments with easy access to the amazing amenities and attractions that the cosmopolitan city of Cape Town has to offer,” said Rawson Developers director Morne Moller.
The development will incorporate and restore the 1950s elegance of the building’s existing exterior, while the interior will be enhanced with a new layer of modern charm – complete with DStv and high-speed fibre connectivity.
The Carrington will also boast a ground-floor restaurant, a coffee shop, a 24-hour concierge service, and a selection of resident-only facilities on the rooftop.
These include a covered relaxation garden area, a lifestyle meeting area, a yoga studio, a co-working space, and a sun deck.
The Carrington is then protected by high-tech biometric access control and 24-hour CCTV surveillance.
Another great feature of The Carrington is that it gives you easy access to Cape Town’s vibrant inner city, as it is less than 2km away from the V&A Waterfront and just a few hundred metres from a plethora of hip bars and restaurants.
This, combined with the Carrington’s luxurious design and extensive amenities, gives buyers the ultimate Cape Town lifestyle at a fraction of the usual price.
Great investment opportunity
The Carrington’s interactive price list has recently gone live to the public meaning interested clients can easily browse the available units with sales info, 3D renders, unit layouts and floor plans of each unit.
Proactive clients can also create a shortlist of their favourite apartments in order to have quick access to them when sales go live on May 11 at 12:00 midday.
The Carrington’s apartments have a projected net return of 7% per annum, and prices will range from R1.19 million to R1.89 million – making them accessible to both first-time and seasoned investors.
This investment is particularly valuable because the inner-city is one of Cape Town’s fastest-growing precincts.
For example, The Tokyo – a Rawson development that is 120 metres up the road – sold over 90% of its 148 units within the first two hours of opening sales.
Additionally, because The Carrington is expected to be completed by March 2023 – before the UDZ cut-off time – buyers can write off up to 55% of the purchase price off as a tax deduction over 11 years.
“The Carrington provides investors with an amazing buy-to-let opportunity that caters perfectly to local residents and travellers alike,” said Moller.
“We hope that this repurposed beauty will to continue to inject a renewed life force into one of our city’s tourism hotspots.”