17 Jul 2012
The seaside town’s landmark Avenue Hotel has been redesigned as an upmarket retirement complex, offering hotel-style accommodation in 44 units, sold on a life right basis.
It is located two blocks away from Fish Hoek beach, says Pam Golding Properties (PGP).
The minimum age level for residence at The Avenue Retirement Hotel is 55.
Four of the units have already been sold prior to the marketing launch, while a number of others have been reserved.
Sizes vary from 17 to 73 square metre and all of the units have en suite bathrooms.
They are fully furnished and tastefully decorated, with a daily housekeeping service included in the selling price.
Prices range from R270 000 for a single-bed 17 square metre option and from R640 000 for two-room suites.
Most units measure between 30 square metres to 40 square metres, sufficient for double occupancy and are priced from approximately R550 000 to R660 000.
The hotel’s communal areas include a lounge, sunroom, bar and reading room, as well as a spacious dining room where three meals a day plus morning and afternoon tea will be served to residents.
There is also a dedicated computer area, plus wi-fi connectivity in the lounge and bar areas.
The individual accommodation units include both single bedrooms and two-room suites with a lounge.
PGP’s development sales manager Bev Bloch says the hotel will be managed by the Cape Peninsula Organisation for the Aged (CPOA), which has over 50 years’ experience in the field and currently runs more than 20 facilities in Cape Town alone.
In addition to their full board and housekeeping services, residents will have access to a weekly clinic, full-time emergency response, and 24-hour security.
“The convenient location means they will be able to walk to the local shops, hairdressers, banks and restaurants, or to the beach for a swim, some whale-watching or a stroll along the scenic Jaeger Walk,” says Bloch.
Bloch says Fish Hoek is an ideal environment for the elderly – a good mix of small town friendliness and relaxed pace of life, with sufficient amenities and activities to ensure an active and socially vibrant retirement.
The retirement hotel is wheelchair friendly and all units will be equipped with a “Call 4 Care” emergency button, allowing residents to summon help if needed.
Residents will be able to access frail care facilities at discounted rates at CPOA’s other local villages, including one in the near vicinity at Muizenberg, and a second which is opening soon in Noordhoek.
Residents of The Avenue will also be able to subscribe to additional healthcare services such as medication management and assistance with bathing and wound care, if needed.
All residents will also enjoy five days of free recuperative care per annum.
PGP’s managing director for the Western Cape metro region, Laurie Wener, says a life right purchase can be an excellent investment for retirees, and is officially recognised by the Housing Schemes for Retired Persons Act of 1988.
Wener explains that this option offers the peace of mind of security of tenure, without the hassle of actually owning a property, which can be very demanding and stressful for the elderly in particular.
As the developer retains actual ownership of the unit, there are no transfer duties, VAT or registration fees applicable to the purchase, she says.
She says the upkeep of the property remains their responsibility.
The buyer simply secures the right to live in their specific unit for the remainder of their life, without having to worry about the associated administrative and maintenance tasks.
“This is a world-renowned model for retirement, and with good reason.”
For more information contact PGP’s development sales manager Bev Bloch on 021 673 4200, 083 252 2594 or firstname.lastname@example.org
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