R400M TRANSACTION IN THE V&A WATERFRONT MARINA
Record breaking transaction in the V&A Waterfront Marina
Cape Town, 4th March 2019 – Specialist tourism advisory company, TPF Advisors, part of the Village N Life Group and an online commercial broker, Quoin Online, have just concluded the acquisition of the Lawhill Luxury Apartments block in the V&A Waterfront Marina by a South-African investor for a total consideration of R400-million.
The nearly 5,500 square metre block consists of 30 sectional title luxury apartments, including two 450 square metre penthouses, and is located next to the One & Only Hotel in the V&A Waterfront. The property is marketed to sophisticated travelers who seek ultimate luxury and to be in the most desirable address in Cape Town.
Hannes Swart, Founding Partner of TPF Advisors said: “The Lawhill sale is the largest residential transaction yet in the V&A Waterfront Marina, and demonstrates the healthy investor appetite for property linked to the international tourism market. Over the last 15 years, property prices on the Atlantic Seaboard have grown on average by 15% per year, which represents a cumulative increase of 800% over that time. We believe the trend for “dollar based” or property linked to tourism will continue to grow - and at TPF Advisors, we’re very proud of our expertise and in-depth understanding of the hospitality business.”