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Cape Town’s hottest property tip off
Live around the corner from Bree and Long (from R1.5mil)
Also read: This new luxe development in Green Point is offering R200 000 of on launch day.
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Last updated: Tuesday, 19 September 2023
Get your foot in the door of an inner city lifestyle in this quiet street behind Long and Bree.
When you buy at Venice House, you (or your tenants) get to take a Saturday stroll through Greenmarket Square, dress up for a date at Liam Tomlin’s The Bailey, drink an old fashioned at House of Machines, or party on Long Street…
Venice House will be in a quiet street close to Bree and Long Street. Image: Venice House
BUY AN APARTMENT IN CAPE TOWN’S CITY CENTRE
Just around the corner from the bustling bars, eccentric art galleries and top restaurants of Bree and Long Street sits a nearly century-old building.
This slice of history will become Venice House, a boutique development of just 36 apartments. Unlike most refurbished buildings in the city, which are ripped down and replaced with modern features, Venice House will celebrate the original building’s charming facade.
Venice House will keep the charming historic facade of this nearly 100-year-old building. Image: Venice House
The apartments, many of which are built around lightwells, have European-style high ceilings, rounded and arched windows, and sweet balconies that one would expect on the streets of Venice or Paris.
Venice House is to be completed in the last quarter of 2024 by Prospekt Property Development, who are known for delivering functional and profitable buy-to-rent properties. Apartment sales at Venice House start from R1.5 million.
The apartments have plenty of light, with art nouveau-style glass doors and lightwells. Image: Venice House
JUST 36 APARTMENTS FROM R1.5 MILLION
One bedrooms start from R1.5 million and studios from R1.4 million. Each of the units have slightly unique features. You could have high ceilings with large arched windows, while your neighbour has charming porthole-style windows with a balcony.
There are also New York-style basement lofts (from R1.7 million), making Venice House one of the few developments in the city to have this. R6 million could get you one of two penthouses, with spacious terraces overlooking the city.
Both penthouses have large terraces that overlook the city. Image: Venice House
GYM, EATERY, BACK-UP POWER, PARKING…
With 24-hour concierge and security services, back-up power for wifi and communal areas and an in-house gym, Venice House has all the conveniences for an inner-city lifestyle.
Next to the grand foyer (with impressive domed ceiling) will be an artisanal eatery and deli. There’s even parking available to rent in neighbouring parkades, which means you could walk, Uber or drive – the choice is yours.
Unlike many developments in the city, Venice House will have both an in-house gym and eatery. Image: Venice House
WALK TO CLARKE’S, TJING TJING + MORE
Thanks to its location (24 Burg Street), just off of Bree Street, Venice House is close to some of the city’s trendiest places to see and be seen.
It’s a 5 minute walk from Clarke’s, Tjing Tjing, Grub & Vine, The Bailey, VIXI Social House, Villa 47, Burger & Lobster, House of Machines… and that’s just Bree Street. There’s the whole of Long Street to explore too, with its thriving nightlife scene (Saint and Soho are just some places to mention).
You could have a few drinks on the balcony with friends before heading out for the night. Image: Venice House
INSTANT INVESTMENT OPPORTUNITY
The sooner you enter the property market the better, and there are so many perks of choosing Venice House as your first (or next) investment.
It falls under the Urban Development Zone incentive, which means that buyers are eligible for up to 30% tax deduction from SARS (over 11 years).
There’s also the Section 13sex of the Income Tax Act, which allows any taxpayer that owns five or more new residential rental units to claim up to 55% of the purchase price as a tax deduction.
The tax deductions make Venice House an nvestment opportunity worth considering. Image: Venice House
Plus, only a 10% deposit is required and there are no transfer duties.
Long-term and short-term rental demand is high for prime locations in the city centre. There’s an option to include bespoke furniture packs, so a ready-to-rent property will be available soon after building completion. Venice House even handles short-term rentals through Nitely.
Central Cape Town has really high rental demand. Image: Venice House
WHAT TO DO ON LAUNCH DAY
Venice House is launched by the same company whose property developments tend to sell out on launch day. The Valour sold out on launch day. Even more impressive: The Braemar in Greenpoint sold out in just 4 minutes.
Before launch day:
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Buyers who pre-register get R75 000 off – register via the Venice House website
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View and browse the available units
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Shortlist your favourite apartments
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Get pre-qualified with BetterBond
On launch day (1pm, Wednesday, 4 October):
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Log in to sales.venicehouse.co.za
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When sales go live at 1pm, a reserve button will appear
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Secure your preferred unit/s by pressing the reserve button
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Pay R5 000 reservation deposit
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Sign the Agreement of Sale within 48 hours
Make sure to check your loadshedding schedule on launch day; you’ll need a reliable internet connection. Image: Venice House
SECURE YOUR NEXT INVESTMENT
Venice House launches: Wednesday, 4 October 2023 at 1pm
Address: 24 Burg Street, Cape Town (corner of Hout Street and Burg Street)
Price: From R1.5 million
Enquire about Venice House and register: via the Venice House website
By Julia Rowley
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