Rosmead Development offers investment, rental returns
Prospective home owners and property investors have an opportunity to stake a claim in leafy Kenilworth, with the launch of a brand-new and exclusive apartment block. This popular Cape Town neighbourhood has an established, multi-faceted infrastructure and there is high demand for rentals.
For sale exclusively by Pam Golding Properties, 156 on Rosmead is a small, low-rise sectional title development of only 12 units. Seven are available to purchase, priced from R1.375 million VAT inclusive. (No transfer duty is payable.)
All apartments offer two bedrooms, a full bathroom with bath and separate shower cubicle and two undercover parking bays, said Pam Golding Properties sectional title specialist Sandra Barrett. Modern, neutral finishes include wood laminate floors and high quality tiles in the kitchen and bathrooms. Security is provided by perimeter electric fencing.
While much depends on individual property features, similar Kenilworth units attract rentals of around R8500-R10000/month. There is strong demand from young professionals, students, staff at the many private and government schools in the vicinity, and people living out of town who need a lock-up-and-go.
They are attracted by easy access to the M5 and a choice of convenient sport and shopping facilities (Pick n Pay, Kenilworth Centre, Pam Golding on Main and Access Park). Nearby, Kenilworth Racecourse is popular for thoroughbred horses and fashion-forward events, as well as being the site of a 52 hectare conservation area renowned for its fynbos.