A rare opportunity to own a 196sqm character-filled apartment at The Wellington, prominently positioned on the corner of Darling and Longmarket Street in the heart of Cape Town. This beautiful historic building was constructed in 1902 and designed by Sir Herbert Baker.
What makes this property particularly compelling is the price per square metre. At just over R21,000sqm, this represents exceptional value for a property of this size in the City of Cape Town. Properties in the City of Cape Town typically sell between R35,000 and R60,000 per sqm.
There is a catch: The levies are about R5,000 too high for an apartment of this size in the City, but that extra R5,000 affords one more than double the space of your typical apartment for R4.2m in the City of Cape Town. An extra R5,000 per month will typically buy you an additional 10 sqm. The high levies are a function of the exclusivity, as there are not too many apartments in this building.
The building is pet-friendly. It is currently set up as a two-bedroom, 1½-bathroom apartment with very generous proportions, but can be reconfigured to suit your needs. It can also be used as a work-from-home pad. The apartment comes with two parking spaces in the neighbouring building.
The Wellington’s position puts you within easy reach of the city's restaurants, cafés, galleries, offices and cultural attractions. The apartment is within a short walk of Company’s Garden and is within walking distance of the headquarters of Woolworths and Truworths. The revamp and conversion of Golden Acre is bound to have a positive knock-on effect on the neighbouring buildings in the area. This is an opportunity for an investor to make a smart investment in what feels like a very expensive city!