Company Announcement - Visual International Holdings, the JSE AltX-listed property development company, has revealed it is experiencing high levels of demand for its affordable retirement accommodation. Nearly 300 potential residents have registered their interest for …my place lifestyle @ Stellendale, even before its sales campaign has kicked into gear.
Charles Robertson, Managing Director of Visual, comments: “We always knew there was a vast, untapped market for the affordable retirement sector, but the extraordinary levels of demand have outstripped our expectations.”
Construction of …my place lifestyle @ Stellendale, in Kuils River in the Northern Suburbs of Cape Town, starts in May 2015.
Robertson adds that, while there are many factors contributing to the popularity of this over-50’s lifestyle concept, what is really winning it tremendous support is the affordable quality it offers investors and residents alike.
“We place all the emphasis on our residents, with a vigilant focus on keeping their costs as low as possible, while still offering exceptional quality finishes and facilities,” reports Robertson.
This also means working with expert partners that share Visual’s commitment to providing innovative, affordable, quality retirement living.
Putting this approach into action, Visual has appointed GERATEC as the care provider for …my place lifestyle @ Stellendale. It is using a first-of-its-kind model of meaningful engagement, where residents are encouraged to actively participate in the running of services.
“We believe retirees are an integral part of the greater community. They shouldn’t be isolated and excluded from society,” emphasises Robertson. “At our villages, retirees will be provided with opportunities to fully engage in the day-to-day creation of their own community, using their skills and furthering their interests. This could include areas such as helping with daycare, food preparation and the like.”
Visual is creating a blue print for this unique model in which villagers are encouraged and supported to create a stimulating life that fosters companionship and confidence by being actively engaged in society with a sense of purpose.
Visual and GERATEC work on principles based on The Eden Alternative philosophy, which is founded on creating a human habitat where daily life revolves around close and continuous relationships with children, animals, plants, meaningful occupation and well-being.
Visual has appointed Retirement Villages SA as rental agents and service advisors. Marelize van Rooyen, Retirement Villages SA marketing director, explains that they base their service on firsthand knowledge of all the residents going into the properties they manage. “We pride ourselves on walking the extra mile with our clients.”
Visual also works with a dedicated team of lawyers, accountants and real estate agents to capitalise on the tax write-offs for buy-to-let investors in Section 13sex of the Income Tax Act. In addition, buyers get full title, rather than a life-rights option.
In all these aspects, Visual is leading the way to ensure affordable retirement is within reach of those South Africans who need an affordable retirement lifestyle.
The rental cost for a single-occupancy suite including 25 meals a month, a basic weekly suite cleaning and a wash-load of laundry each week starts at R5,170 per month. At the top end, a two-bedroom cottage, also with 25 meals for two people, a basic suite cleaning and a weekly load of washing per person, comes in at around R8,600 per month. The units all provide pre-paid water and electricity metering and consumption.