Thirty-five units still available in The Iron Works, Upper Woodstock
Thirty-five apartments remain in the 136-unit The Iron Works in Upper Woodstock, Seeff reports.
The “trendy”, mixed-used development comprises ground floor retail level, three levels of parking and five levels of residential apartments. Completion is scheduled for September 2017.
Seeff agents Bernice Musikanth from the City Bowl and Craig Algie, a specialist for the Woodstock area, say the one and two-bedroomed apartments range in size from 50-106sqm and come with fabulous city or mountain views.
Prices range from R1,3m to R2,8m inclusive of VAT and there is no transfer duty payable. There are also finance packages available from various institutions for qualifying buyers.
The development lies within the UDZ (urban development zone) with tax incentives for investment buyers. “The units are indeed excellent investments,” according to the agents, who add that they should yield very attractive rentals given the desirability of the accommodation.
The Iron Works is situated on the corner of Main and Ravenscraig roads with access to the N1 and N2 highways and is also on the MyCiti bus route. It is also a few minutes’ drive from the University of Cape Town and the Cape University of Technology.
According to the agents, Woodstock is viewed as an excellent up and coming investment area. Property values have grown by 40%-60% over the last few years, says Algie.