Vredelust DescriptionThe project is situated in the Main Road of Vredenburg, on the way out to Paternoster and consists of 120 plot-and-plan single residential units.The properties will be aimed at the entry-level market, with units selling from R550 000, all costs included. The pricing will suit both first time buyers and investors in the buy-to-let market. At present there is a substantial shortage of housing in this price range. Summary
The land has been purchased on 29 July 2008 for R2.5million. Rezoning has been successfully completed and the ROD has been issued. The actual servicing of the land is currently underway and should be completed in the next 3 - 4 months. Marketing of the plot-and-plan units should commence around May 2009. Offer An investment opportunity in Vredelust Development offers an annual income of 12% per annum paid out monthly to investors, plus a 10% Capital Growth earned at redemption of the investment on 30 November 2010. A stand-alone entity, Nevada Sky Investments 20 (Pty) Ltd, is registered to ring fence investors risk. Nevada Sky Investments 20 (Pty) Ltd will lend the full investment amount to the development company against a fully secured covering bond. Nevada Sky Investments 20 (Pty) Ltd will earn interest from the development company at 12% per annum paid out monthly. Nevada Sky Investments 20 (Pty) Ltd will earn a 10% after tax Capital Gain from the development company on redemption date which will be paid out as a Capital gain to the investors by way of a share buy back and/or redemption of debentures at a premium, within 30 days from the redemption date. (Stonevest (Pty) Ltd is an authorised representative of Stonevest CC, FSP Number 29432) Characteristics
The developer, CAD projects, is headed up by Jerry Steenkamp and consists of a small professional team based in Paarl. Jerry has been in construction for 23 years before starting CAD projects. He has developed 5 filling- and service stations and adjoining buildings for Caltex. In the last couple of years CAD projects have successfully completed a number of development projects including:
Vredenburg is the largest administrative and commercial centre on the West Coast. Until recently the region was largely without fresh water. This has helped on one hand to keep the Vredenburg/Saldanha landscape unspoilt and largely undeveloped. Most of the countryside shows few signs of human activity. A very active community of conservationists work closely with developers to retain the splendour of the Namaqualand area. The economic potential of the West Coast has been revitalized in the last 10 to 15 years. The piping in of water from the Berg River has allowed many coastal resorts to develop retail, commercial and industrial establishments. Tourism has boomed, bringing in its wake a demand for coastal properties. There is hardly any new residential developments going on, and yet the need is growing. Government is advocating group housing schemes that will accommodate both high and low income groups in their housing development plans. New off-plan developments are scooped up long before they hit the marketing headlines. The main source of industrial activity is in the Saldanha Bay area. Vredenburg is only 12 km from Saldanha, home of Arcelor Mittal Saldanha Steel. The plant is currently producing its designed capacity of 1.2 million tons of hot rolled coil per annum and it provides around 600 full time job opportunities. Another positive for the local housing market is the Sishen-Saldanha iron project. In 1953 Iscor (Iron and Steel Corporation) started mining iron ore near Sishen in the Northern Cape. The discovery of a 4 000 million ton deposit of highgrade iron near Sishen created the feasibility of a new, large-scale iron-ore export project, which led to Saldanha Bay being chosen as the best export harbour for the ore. The railway line connecting the iron-ore mines with the harbour was built as a result creating many job opportunities. Construction has begun on the new West Coast Mall that is scheduled to open in Vredenburg in March 2009. The R365 million project is being developed by Retail Africa and promises to bring a boost to economic growth in the West Coast area. INVESTMENT DETAILS
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