“Willing Seller, Willing Buyer”: R9m Sea Point Fixer-Upper Finds Buyer Despite Online Mockery

[wingnut771]

well, not really
on the property, one can redevelop that within a 6month period - its not a massive project

so the one would take about 6months for a return, the other takes 2yrs

you can then repeat the same exersise with property another 3 times (every 6 months) in that same 24month period

I assumed it would take 3 years to build condos, sorry.

 

[rietrot]

It will take less than 1 mill to make that place worth 15 mil.

Just beware the current bubble.

R10k builders warehouse paint. Easy fix

 

[hexagon]

can only speak for atlantic seaboard - not other areas.
CoCT are on a urban high density drive - almost a fetish.
developers literally have carte blanche - coct continually allows departures from land use regulations etc.

the current demand / shortage will balance with availability
this area has 840 additional residential units since 2023
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this area has about 400 additional residential units since around 2024
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like weeds sprouting:
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For those who'd like to live as modern-day serfs on a REIT plantation

 

[Tokolosk]

Good grief, this is depressing to see as a local. We're trying to get into Hout Bay and it's a foreigner's market. They should prevent non-residents from owning property, it's ridiculous at the moment.

 

[SauRoNZA]

The mold on the shower ceiling, yuck.

Is it mould or it is just very dirty from people using it to get in and out of the roof for years on end and never cleaning or painting it again?

 

[EmmanuelGoldstein]

Is it mould or it is just very dirty from people using it to get in and out of the roof for years on end and never cleaning or painting it again?

That's mould. The answer is to ensure the ceiling is painted with enamel in the first place, and to keep the place klean.

 

[SauRoNZA]

That's mould. The answer is to ensure the ceiling is painted with enamel in the first place, and to keep the place klean.

It just doesn’t make sense that it’s perfectly self-contained to the access hatch and doesn’t spread to anything else.

 

[EmmanuelGoldstein]

It just doesn’t make sense that it’s perfectly self-contained to the access hatch and doesn’t spread to anything else.

The access hatch might be a different material. I have such a problem at home. I ought to replace it at some point.

 

[SauRoNZA]

The access hatch might be a different material. I have such a problem at home. I ought to replace it at some point.

Exactly the same hence the comments.

And mine is even more similar for also being near the shower, but in person I would never even consider it to be mould if I looked at it.

 

[Progenix Oj101]

coct pumps sewerage into the sea always has - but there has been an exponential population growth over the last 10yrs.
still pumping schite into the ocean - but double the volume

Pity, I recall it being a nice beach first thing in the morning. It must have been the mid 90s, though. I couldn't have been older than 5-6. I was next to a large empty swimming pool in front of a building with half a car sticking out the roof (if I recall correctly).

 

[hellfire]

completely different
coct very quietly changed some land use regulations - in stealth mode and without a public participation process.

so now if you are a developer and build within 50m of a public transport route - you no longer have to include any off-street parking - not even a single parking bay.
this is why there is a building frenzy along main / regent road, from greenpoint to bantry bay

do those not have parking basements?

 

[PlanesTrainsAutomobiles]

can only speak for atlantic seaboard - not other areas.
CoCT are on a urban high density drive - almost a fetish.
developers literally have carte blanche - coct continually allows departures from land use regulations etc.

the current demand / shortage will balance with availability
this area has 840 additional residential units since 2023
View attachment 1923541


this area has about 400 additional residential units since around 2024
View attachment 1923542



like weeds sprouting:
View attachment 1923544

View attachment 1923545

View attachment 1923546

View attachment 1923547

View attachment 1923549

View attachment 1923550

I wonder if they know how ugly these are.

 

[Splinter]

completely different
coct very quietly changed some land use regulations - in stealth mode and without a public participation process.

so now if you are a developer and build within 50m of a public transport route - you no longer have to include any off-street parking - not even a single parking bay.
this is why there is a building frenzy along main / regent road, from greenpoint to bantry bay

CoCT most probably gets a cut from Uber.

 

[Nerfherder]

can only speak for atlantic seaboard - not other areas.
CoCT are on a urban high density drive - almost a fetish.
developers literally have carte blanche - coct continually allows departures from land use regulations etc.

*SNIP*

We have the same issue, I live in the southern suburbs and our little niche was also rezoned as high density.
So they already flattened 3 houses and put up 4 story flats, then on the same road is an old bowls club that will be flattened and a 240 unit block is planned there, another historical building down the road looks to go the same way (8 stories apparently). Then on the main road they flattened a shopping centre and a new multi use building is half way done.
These spots were all deselect so something had to be done... but building 4+ stories in residential neighborhoods feels like a mistake, especially since our sewer system is already overburdened and electricity substation is one of the oldest in the country.

 

[Grant]

do those not have parking basements?

Not required

 

[Grant]

Pity, I recall it being a nice beach first thing in the morning. It must have been the mid 90s, though. I couldn't have been older than 5-6. I was next to a large empty swimming pool in front of a building with half a car sticking out the roof (if I recall correctly).

This:

 

[Progenix Oj101]

This:View attachment 1923873

Yes, and I hate how old that photo makes me feel. FFS.

 

[PlanesTrainsAutomobiles]

This:View attachment 1923873

Was this how the sea point public pool complex used to look like????

 

[Progenix Oj101]

Was this how the sea point public pool complex used to look like????

Yes, but I knew the pool as standing empty. I think most/all of it was demolished and rebuilt not long thereafter, but we'd moved from Obs to Diep River.

 

[Grant]

Was this how the sea point public pool complex used to look like????

no

the 4 pools we see today used to be one big pool - with the carousal restaurant alongside





then came along hard rock cafe - which failed.
the site (restaurant) became derelict for years - eventually the then anc run city decided it would sell off the restaurant and part of the parking area to be developed into a boutique hotel.
property owners along beach road went into battle with the city in court - demanding the area remain public free access space - and won - reverting the area to what we see now