Investor/franchisee required for the development of a feasible residential affordable housing projec
106
Ref. No - BFS00323
South Africa, Western CapeRef. No - BFS00323
Sector - Property
Summary
There is a housing shortage of over 3,3 million houses in SA and in the Western Cape it amounts to over 660,000 (sources for this can be revealed)
This is more so applicable to affordable housing- there are a myriad of first time buyers seeking affordable housing under the R1 million
The developer/master franchise of this project, has years of experience in this field, has done various successful projects in Gauteng and now requires a partner/investor/franchisee to develop a 106 unit development in Kuilsriver, Cape Town where the land has already been identified and ready to start the development
This will be a multi-family sectional title apartment development, developed on 7,127 sq meters of land, comprising of 106 units, each unit a 2 bedroom apartment selling at an average price of R950,000
It will be developed across 8 blocks on a land parcel of 7,127 sq meters
Phase 1 will be 53 units at a typical area size of 44 sq meters at a discounted selling price of R925,000, with phase 2 following at a selling price of R975,000 with the same area size per unit, excluding the balcony sizes
Phases 1 and 2 will each have a costing of R40 million per phase
The structure will be 2 bedroom units in 3 storey walk-up apartments with private balconies
The land in question has already the correct zoning for this development, but funding is now needed for the initial purchase of the land, development contribution to the municipality, pay for pre-development professional fees etc
Give me more informationIs the business VAT Registered?
An amount of R8 million is now required from an investor/franchisee to start above process, and then to continue with the first phase of the development
Proceeds are ring fenced to bring the project to a bankable feasibility stage and will attract a higher that normal return due to the risk profile of the pre-development phase. Investors/franchisees thus have two options ie
- Interest at prime plus 5% which equates to a return of R2,626 million on R8 million ie R10,626 million
- OR
- Ownership of 12 units at a value of R995,000 per unit (Total value of R11,46 million which equates to a return of R3,36 million
NOTE- a full disclosure document is available from the master franchise
Profit sharing suggestions on the development itself will also be revealed to an investor/franchisee
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