Pinelands Grove, a modern Retirement Village, presently under construction in Pinelands offers rental returns of as high 11% to investors of all age groups who would like to invest in the Life Right units. Accordingly Retirement villages SA, Joint Sole Mandate holder’s for the project, the completion of the complex is expected to be in December 2015 and occupation commencing from February 2016.
For those Investors who has not reach retirement age yet, but would like to make use of it, this is a golden opportunity to invest now, rent it out for the interim and maybe even take occupation themselves later on. The units are sold as Life Right owes and investors will receive 25% of the nett capital growth upon the sale of a unit.
The complex consists of 218 units. The more affordable units (Bedsitters) are between 20m² and 25m² and priced from R 495.000. One Bedroom units range between 36m² and 48m² and are available from R895.000. Two Bedrooms with sizes between 58m² and 65m² are sold from R1.295.000. For the investors with a taste of luxury, style and size a new 2 bedrooms – 2 bathrooms of 84m² (excluding the Balcony) is also on offer at a price of R 2.2 million. This unit also offers a study area as well as a parking bay.
It is in the bedsitter (smaller) category where investors will enjoy rental returns of 11% from year one, taking into consideration an average rental escalation of 8% per annum. The returns are calculated after deductions of the monthly capital levy. The tenant is responsible for the service levy (i.e. Meals and other services) applicable on the unit.
The rental returns and capital growth is calculated based upon the on comparative figures of others facilities in Pinelands provided by the CPOA, who will also be responsible for the management of Pinelands Grove. A comprehensive Rental Schedule indicating expected returns and capital growth over a 10 year period is available upon request to Investors.
