Restored art deco block in Vredehoek offers an excellent investment opportunity
Category Property news
Vredehoek property is currently enjoying a healthy demand, and has received an added boost with the restoring of several of the older blocks to their former glory, according to Ryan Greeff, Director of Greeff Properties, Christie’s International Real Estate, City Bowl. Currently being restored and updated is “The Adelphi”, a gracious art deco block in Vredehoek. “We have had extensive consultations with Heritage Western Cape, and in fact the design of The Adelphi has been in partnership with them,” says Pierre Steenkamp, Managing Partner of Bespoke residences – the developers. Architect Xico Meirelles of MLB Architects has succeeded in blending contemporary design with the beautiful original deco moulded façade, to create a stylish and striking juxtaposition.
The existing carcass has been widened to offer ultra spacious, airy living areas and generously proportioned patios and balconies, bordered by seamless glass paneling achieving the effect of an “inside outside” living experience while allowing sweeping views of the City Bowl.
The four-storey Adelphi offers four, two-bedroomed, two-bathroomed apartments with separate dining room, and one two-bedroom, three-bathroom grand penthouse serviced by its own exclusive elevator access directly into the apartment. “Views will be extraordinary from here, particularly as the penthouse leads to a wraparound balcony,” says Greeff, adding that the two ground floor flats enjoy a 30m2 garden and 40m2 of balcony and patio space.
“These apartments are exceptionally generous by the standards of the City Bowl where space comes at a premium,” says Greeff.
The block will boast state-of-the art security, including CCTV with multiple screen views linked to all apartments. “You’ll be able to see your child in the pool in the back garden, from your bedroom,” says Greeff. There will also be off-site monitoring. An alarm will link to cameras and cell phones and there is to be an electrified perimeter fence.
Other features include: Fiber optic cables into every room, double glazed windows with solar tinted glass, Oggi engineered wood floors, kitchens by Joos Joiners, travertine tiles, Bongio Italian taps, Victoria and Albert free-standing baths and matching basins, Smeg appliances including wine coolers, Caesarstone countertops, solar heated geysers, heat pumps, LED lighting, air conditioning in every room, built-in cupboards with adjustable shelving, Lumen8 handmade light switches and granite balconies.
Priced from R5.49 million to R9.95 million for the penthouse. The price includes one garage, one parking bay, plus a spacious storeroom per unit. Completion is anticipated for end March 2017, according to Steenkamp. “Vredehoek is perfectly located for those wanting or needing to be close to the city without being right on top of the hustle and bustle,” says Greeff.
“Residents will enjoy easy access to the city’s exceptional amenities and attractions, be able to dine at sought-after restaurants and cafes, shop at the V&A Waterfront and relax at world-renowned beaches, all a few minutes from their doorstep,” adds Greeff.
“Vredehoek has really arrived as a neighbourhood and investors are taking note,” says Greeff.
He adds that there is also a very high demand for rentals in Vredehoek, and luxury apartments in the vicinity have been known to achieve rental yields of between five and seven percent of the purchase price. “This makes The Adelphi a particularly notable investment opportunity,” says Greeff.