Eaton Square18th Oct 2019
Beautiful Life, Beautiful Price
Flyt’s new Eaton Square boutique apartment block in Diep River offers a beautiful lifestyle at an even more attractive price – whether you choose one of our conventional apartments, or opt for our innovative fully-furnished co-living solution.
It’s also a great investment with solid returns. Your investment in Eaton Square is 100% tax deductible if you choose to invest via our SARS- and FSB- approved Section 12J Investment Fund.
Inside Eaton Square
Only 66 contemporary sectional title apartments (48 – 64 m2), consisting of a mix of conventional apartments and furnished co-living suites. 60 two-bedroom apartments and 6 one-bedroom apartments.
Prices range from R1, 339 million for a spacious one-bedroom apartment to R1, 995 million for the best two-bedroom/two-bathroom apartments. Ergonomically designed by master architect Sebastian van Greunen, with ample floor areas, contemporary kitchens and quality appliances.
Each apartment has either a Juliette balcony, full balcony (some with built-in braai) or terrace. Optional furniture packages are available when purchasing conventional apartments. Co-Living apartments are fully furnished with carefully selected furniture. Lift access to all three levels from a covered and secure parking on the ground level.
- Convenient restaurant with co-working space on ground level
- Exciting communal spaces include: private dining rooms, bookable braai area and entertainment terraces
- 24-hour security
- Fast and secure uncapped Wi-Fi
- An on-site management team offers a bouquet of convenient services to choose from. See Co-Living section for more info
Situated on 167 on Main Road
Diep River is a safe, energetic, eclectic and community-oriented suburb, offering an all-encompassing lifestyle in a neighbourhood which combines old-world charm with a beautiful way of life.
Beautifully close to everything
Easy access to shopping centres, restaurants, theatres, schools, hospitals, public transport, organic food markets, century-old cafes, quirky bars, antique stores and old churches. Centrally located with quick access to Cape Town’s CBD, Hout Bay, Noordhoek, Fish Hoek and other Cape Town tourist attractions.
Minutes from hiking, biking and jogging trails. Close to the Constantia Wine Route, Tokai Forest and Muizenberg Beach. Scenic natural surroundings and picnic areas close by The Block Café is within walking distance.
Close to home
Schools / Universities
- Westcott Primary School – 350 m
- Bergvliet Primary School – 1.3 km
- Herzlia Primary School – 1.6 km
- Meadowridge Public Library – 1.7 km
- Bergvliet High School – 1.8 km
- Sweetvalley Primary School – 2.4 km
- Constantia Waldorf – 3.4 km
- Springfield Convent Senior School – 7.1 km Reddam House Constantia – 8.2 km
- Herschel Girls’ School – 9.7 km
- University of Cape Town – 14 km
- Bishops Diocesan College – 14.5 km
- Rustenburg Girls’ High School – 17.1 km
- Mr. Price Home – 200 m
- Tafelberg Furnishers – 230 m
- Block & Chisel – 270 m
- The Hub – 450 m
- Cristy Sports – 600 m
- Woolworths Meadowridge Park
- & Shopping Centre – 1.7 km
- Constantia Village – 3.2 km
- Food Lover’s Market – 3.5 km
- Blue Route Mall – 3.7 km
- Cavendish Square – 9.1 km
- Peninsula Vet Hospital – 600 m
- SAPS Diep River – 750 m
- Mediclinic Constantiaberg – 1.7 km Melomed Tokai Private Hospital – 3.4 km
Within 15 min
Restaurants & bars
- Pirates Steakhouse & Pub – 1.8 km Peddlars – 3.2 km
- Italian Kitchen – 3.5 km
- Jakes In The Village – 7.8 km
- La Parada Constantia Nek – 8 km
- Green Vine Eatery – 8.7 km
- Wijnhuis – 9.1 km
- Bistro Sixteen82 – 9.3 km
- Kirstenbosch Tea Room – 9.5 km Newlands Brewery – 9.8 km
- Slug & Lettuce – 9.9 km
- Buitenverwachting – 5.3 km
- Klein Constantia Estate – 6.1 km Constantia Glen – 6.5 km
- Eagle’s Nest Wines – 6.5 km
- Beau Constantia – 8.2 km
- Steenberg Vineyards – 9.2 km
- Cape Point Vineyards – 19.9 km
Buy to live
Eaton Square promotes a community lifestyle in a safe and sustainable environment which enables your entire family to live a beautiful life!
Buy to invest
Looking to invest in property in the Southern Suburbs? Diep River is an excellent property investment still offering a substantial capital growth opportunity! Why?
The location: as property prices in the cape have seen consistent growth over the last 3 – 5 years, many popular suburbs have become very expensive. Diep river’s location provides great value for a modest price, and is poised for strong capital growth in the coming years, as well as offering attractive initial rental returns.
Low risk: according to research done by propstats, Diep River is an “overlooked suburb” and holds promise of long-term capital appreciation.
Co-living: flyt has recognised that an innovative co-living solution will provide consistent real returns to property investors.
From the investor’s point of view, rentals and returns are increased by furnishing and letting apartments on a per room basis. These apartments form part of a well-managed rental pool, where all the admin is taken care of and single-tenant vacancy risks are eliminated.
Eaton Square is Diep River’s first co-living development, and we want you to get in on the ground floor! Eaton Square is a new way to experience a beautiful life at a beautiful price in the Constantia Valley
Buy to let
You are welcome to acquire a conventional apartment and manage it yourself. However, if you’re interested in a hands-off and admin-free solution, see our Rental Pool option below!
The co-living apartments form part of a formal rental pool, fully managed by an on-site team. Investors have access to a host of rental pool benefits, including:
- Furnished Apartments at no additional cost Quality Tenants who ‘Tick All The Boxes’
- Lower Financial Risk
- Higher returns due to managed co-living solution No Admin
Section 12J Investment
Eaton Square’s rental pool qualifies as a Section 12J Investment, allowing investors to write off 100% of the investment amount for tax purposes. See 12J section for more info.
What is Section 12J?
- Section 12J of the Income Tax Act enables investors to deduct 100% of their investments in a registered Section 12J entity for tax purposes.
- This means that: SARS will finance up to 45% of the investment (depending on the investor’s tax rate)
- Any entities are elegible, including individuals, Trusts and Companies
- Investment is made via a Section 12J entity, (investors are shareholders rather than owning the unit outright)
- A section 12J investment at EATON SQUARE requires a minimum investment of R1 M
Why Does Section 12J Exist?
SARS introduced the incentive to stimulate investment into businesses that create jobs and grow the economy. EATON SQUARE qualifies for this incentive as it is a managed solution including a full range of services.
Welcome to Eaton Square’s co-living
Eaton Square’s co-living apartments are carefully curated, fully furnished and equipped to ensure a completely hassle-free lifestyle. Flexible rental options allow residents the freedom to choose how long they wish to stay, whether it’s a few days, a few months or longer.
At Eaton Square, co-living apartments are more than just four walls. Apartments are consciously designed to offer residents more bang for their buck as well as offering investors more attractive and stable returns.
We’ve also developed an Eaton Square App, which allows residents to have convenience at their fingertips. Now residents can book dining areas for their functions, an extra cleaning service or their next surf lesson using the App. Apartment amenities can also be ordered and paid for via the App.
With innovative common spaces, a vibrant coffee shop and productive co-working spaces, Eaton Square co-living creates an all-encompassing living experience which connects people to their community.
Because time is precious, why not work, play and stay in the same place?
Renting a Co-Living Unit
Included in the price:
- Furnished bedroom with en suite bathroom Furnished living room and kitchen
- Weekly cleans*
- Free, uncapped WiFi
- Water and electricity**
- Smart TV with access to Netflix
- Welcome Basket covering your first 3 days (dinner on us and beer to share with your roomie)***
- Private Dining Rooms
- Bookable Braai Areas
- Rooftop Yoga Deck
- Micro Vegetable Gardens
- Co-working Desks and Areas
- Coffee Shop and Restaurant
- Covered Parking and Bicycle Parking
- Innovative Storage Solutions
*Weekly cleans do not include laundry service. Extra cleans can be booked via the App
**Long Term: A starter pack of R300 is included for electricity. Prepaid applies thereafter
**Short Term: Utilities included
***A welcome basket only applies to monthly stays
The Development Team
Flyt is a Cape-based property development and investment company committed to challenging and elevating the status quo. They’re an energetic and passionate team of industry professionals who dare to think differently. Their approach is logical, realistic and genuine, with the aim of leaving a legacy of good problem-solving that really works.
Eaton Square’s co-living concept falls perfectly into their philosophy of creating ‘living’ buildings which excite and inspire. With a proven track record since 2011, across residential, hospitality, industrial and commercial sectors, they’re committed to shaping the landscape, elevating the city, partnering businesses for progress, and setting the benchmarks of tomorrow.
Architect: Sebastian Van Greunen
Sebastian van Greunen has been involved in the property arena as a commercial architect for the past 20 years under the madebyseb brand. Successful projects include apartment developments, office and industrial buildings and a plethora of Virgin Active gyms. In more recent years, as part of the ITL Property Group, his focus has shifted from consulting to development of projects in Australia, Malta and South Africa.
Our focus has always been quality, cost-effective creative solutions for some of the most demanding property developers, including ourselves. Every project is seen as a partnership to ensure successful developments.
GVK-Siya Zama Construction
GVK-Siya Zama Construction is one of the biggest privately-owned and empowered construction companies in South Africa. Working in most sectors of the building environment they are highly regarded and equally respected as a specialist in large scale construction and refurbishment.