Cape crusade tempts Irish investors

EVEN last week’s rugby match went the right way for the Irish, as multi-level links with South Africa strengthen.

Irish development company Howard Holdings rolls out a whistle-stop tour of Cork, Waterford, Limerick and Galway to finalise sales of its €80 million Cape Town, South African development Mandela Rhodes Place.

It is one of the largest ever mixed development investments in that southern hemisphere country, and includes five-star hotel, 163 apartments, urban winery, retail, gym and wellness centre etc.

Howard Holdings - voted Cork Business of the Year last week at the same time as the rugby victory - has seen over half of the residential units at its landmark development in the southern sun go to Irish buyers.

Over 100 apartments have been sold, half to Irish buyers, half to the local market, and of the remaining 63 units 25 will be sold in Ireland through Richard O’Sullivan of Christies Estate Agents in Dublin, 30 in South Africa through local agent Pam Golding, and developers Eurocape/Howard Holdings will retain eight.

Prices range from €281,000 in the Art Deco Fairbairn building, and rise to €754,000 for a 1,700 sq ft two-bed apartment in the Tower Building, an 11-storey new-build on top of the seven storey refurbished Mandela Rhodes Place building.

“These are the premier units in this hugely acclaimed scheme, Mandela Rhodes Place is by far the largest of nearly 80 residential projects in Cape Town’s business district,” said Mr O’Sullivan.

He noted that the ‘urban development zone’ would have special tax reliefs on income, including rent, for all investors.

Location is near the Houses of Parliament and the Company’ Gardens landscaped amenity park in Cape Town, and the Tower will have the emblematic Table Mountain as its backdrop.

The scheme is being promoted in Cork today in Hayfield Manor Hotel, 12 noon to 6pm, tomorrow in Waterford’s Ard Ri hotel, next Saturday in Limerick’s Clarion Hotel and in Galway’s SAS Radisson Hotel on Sunday, November 28.