BlackBrick developments in Cape Town and Johannesburg have unfailingly ticked every box. Now, it is expected that the thousands of investors who rallied to ensure that initial raises for the first three BlackBrick developments via the EasyProperties platform were oversubscribed, will be eager to jump behind the soon-to-be-launched BlackBrick Gardens in Cape Town.
Despite tough economic conditions, BlackBrick continues to blaze a trail by delivering another perfectly timed, innovative, high-demand residential property product in a location that provides investors with a safe haven for capital appreciation and liquidity through high rental yields.
As forerunners who are meeting the needs of ‘Generation Rent’ - the set of digital nomads who seek to live and work in quality, upmarket, urban locations - BlackBrick boasts over R1 billion since its 2019 inception.
According to Rupert Finnemore, CEO of EasyProperties, BlackBrick Gardens, situated in the heart of Cape Town’s creative hub, is well located to benefit from the sustainability of Western Cape tourism, as well as the semigration to a province that continues to deliver robust property growth due to its outperforming services and infrastructure, by comparison to the rest of the country.
“Cape Town, which has maintained steady capital appreciation of 5 to 10% growth over the past two decades has shown that it is a relatively safe haven even in tougher markets. This, together with the positive performances by the region’s buy-to-let market, make BlackBrick Gardens another very well-timed opportunity," says Finnemore.
BlackBrick Gardens, fashioned on principles inspired by the hospitality industry space, will appeal to first time buyers and tenants who opt for a hybrid work-home-community lifestyle on the doorstep of the trendiest precincts in South Africa.
EasyProperties are thrilled to have secured 8 of the 89 units at a discount of 7.37 % for its investors. This includes a rental guarantee for 12 months, an anticipated gross yield of 11.23%, Section 13sex tax benefits and no transfer duty.
Conforming to BlackBrick’s sustainability ethos to develop existing buildings, BlackBrick Gardens, located on Roodehek Road, is a six-storey conversion of a 1960s industrial building previously occupied by jewellery and hat makers. In line with this, charming entrance stoeps and back terraces, inspired by the Victorian row houses that typify the neighbourhood, will reduce operating like heating and cooling of the hotel-apartments.
In line with BlackBrick’s inimitable style and vision, BlackBrick Gardens will feature fashionable common areas like workspaces, meeting rooms, a library, outdoor cinema, ground-floor restaurant and rooftop terrace and pool that overlooks Table Mountain, Devil’s Peak, Lion’s Head and the city skyline.
Finally, a digital concierge, tech-enabled security, high-speed Wi-Fi and back-up power are part of the package that makes the development the perfect place to stay and work while feeling secure.
Facts at a Glance: BlackBrick and EasyProperties History
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