Vredelust FAQ's

Where is the Vredelust development taking place?

Vredelust is a plot-and-plan development in Vredenburg consisting of 120 units. It is on the corner of Main Road and Leyden Street.

What is considered the target market for this development?

It is aimed at the entry level market with prices for plot-and-plan units starting from R550 000

What is the total investment amount?

R 15 650 000 will be raised from investors.

What is the average plot sizes?

Plot sizes vary between 200m2 - 220m2.

Is the ROD in place?

The ROD has been issued and the actual servicing of the plots is currently underway.

What is the term of the project?

Maximum 24 months, ending on November 2010.

What steps have been taken to reduce risk for investors in this project?

A covering bond to the value of R17,2 m is in the process of being registered in favour of Nevada Sky Investments 20 (Pty) Ltd. Investors funds are paid directly into Bill Tolken Hendrikse Attorneys Inc trust account.

Do investors get monthly income from their investments?

Investors receive 12% interest p.a. paid monthly in arrears on the last day of each month for the term of the project

Do investors receive any capital growth on their investment amount?

Their debentures will be redeemed at a 10% premium on 30 November 2010. The 10% premium will be paid out as capital gain.

Does Stonevest directly receive any of the investors funds?

No, investors funds are paid directly into Bill Tolken Hendrikse Attorneys Inc trust account.

What is the demand for housing in the area?

There is a substantial shortage of housing in the Vredelust price range. The demand for housing has also increased in the last 10 years due to the development in nearby Saldanha and Langebaan.

What is the minimum investment amount and what do investors receive in terms of shares and debentures?

The minimum investment amount is R100 000 comprising 100 units of R1 000 each. Investors receive a share and debenture certificate for investments made in the project. Each unit consists of a share with a nominal value of R1, irrevocably linked to debenture of R999.