Lux­ury in the cen­tre of the city

Apart­ments and long-term leases still avail­able at Cape Town’s exclusive Taj Ho­tel, writes Michelle Swart

Business Day - Home Front - - HOMEFRONT -

Those who in­vest in UDZ prop­er­ties such as the Taj Res­i­dences are able to ben­e­fit from unique tax re­bates, says Se­eff At­lantic Seaboard and City Bowl MD Ian Slot. The res­i­dences are for sale di­rectly from the de­vel­oper, one of the qual­i­fy­ing cri­te­ria for the re­bates. Un­der sec­tion 13 quad of the In­come Tax Act, the in­cen­tive pro­motes in­vest­ment in ur­ban re­newal and buy­ers can off­set up to 55% in the form of an as­set de­pre­ci­a­tion al­lowance against the pur­chase price over 11 years.

Pro­vided the unit is let out or used for busi­ness rea­sons, in­vestors can claim 20% of the 55% al­lowance in the first year and there­after 8% an­nu­ally for the next 10 years, says Se­eff agent Ja­son Paans, who is mar­ket­ing these apart­ments. For ex­am­ple, an in­vestor buy­ing a stu­dio unit at R2,995m can ben­e­fit from a tax re­bate of nearly R1,648m over the 11-year pe­riod.

The stu­dio, one- and two-bed­room units are priced be­tween R2,995m and R6,35m and are lux­u­ri­ously fur­nished, ser­viced and in­clude a liv­ing and din­ing area, fully equipped kitch­enette and bal­conies. Own­ers can use ho­tel fa­cil­i­ties in­clud­ing a busi­ness cen­tre, gym and spa and the three restau­rants as well as per­son­alised ser­vices such as trans­fers. Po­ten­tial in­vestors with busi­ness in­ter­ests in and around Cape Town will find this an ap­peal­ing op­tion given the ho­tel’s cen­tral lo­ca­tion.

Cape Town is the coun­try’s best in­ner-city re­newal suc­cess story, says Slot. The re­de­vel­op­ment of the CBD has led to real es­tate here be­com­ing sought af­ter with sig­nif­i­cant cap­i­tal ap­pre­ci­a­tion po­ten­tial. In­ner city re­newal is a global trend and SA is still in the early phases of this.

Pow­nall says that the ben­e­fit of own­ing one of the Taj suiteswould be the ser­vices, fa­cil­i­ties and con­ve­niences of an in­ter­na­tional 5-star lux­ury ho­tel which is unique in Cape Town. “Aside from a num­ber of other ben­e­fits, we of­fer own­ers ex­cel­lent se­cu­rity, main­te­nance and man­age­ment of their in­vest­ments pro­vid­ing com­plete peace of mind. Ten free room nights in any Taj Ho­tel is in­cluded in pur­chase price through World­wide Taj Ben­e­fits within the Taj Ho­tels, Re­sorts and Palaces,” he says.

Levies in­clude satel­lite tele­vi­sion, elec­tric­ity and water.

Price:

Long-term leases from R35 000/month. Pur­chase of Taj Res­i­dences from R2,995m to R6,5m

Con­tact:

Sales: Ja­son Paans, Se­eff Prop­er­ties, 082 744 4388 Leas­ing: Teresa Davidge, Taj Cape Town, 021 819 2004

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.