TPF Advisors recently announced the conclusion of a R400m transaction in which a South-African investor has acquired the Lawhill Luxury Apartments block in the V&A Waterfront Marina in Cape Town. The nearly 5,500m2 block consists of 30 sectional title luxury apartments, including two 450m2 penthouses.
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.”