Retirement facilities are changing

Posted On Wednesday, 01 April 2009 02:00 Published by eProp Commercial Property News
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Monarc Developments and Cape Peninsula Organisation for the Aged (CPOA) this week entered into ground breaking agreements to provide three new and attractive lifestyle developments for seniors who want to reside in Rondebosch, Claremont and Hout Bay

Billy Rauch

All services in these new lifestyle developments will be provided by the CPOA who, by virtue of reciprocal agreements with existing CPOA health care facilities will ensure that new residents will have immediate access to a variety of medical services ranging from basic nursing care and hospitalisation to post-op recovery and assisted living, as and when required. This is a win-win solution for residents as they are assured of receiving excellent medical service at minimum cost. It also signals a new approach for the 55+ year old market for whom security, lifestyle and medical assurance become more important.

CPOA CEO Billy Rauch is very enthusiastic about this initiative and firmly believes that the old traditional way of retirement is a thing of the past. “We’re delighted to have formulated a plan with Monarc Developments that takes account of what senior citizens today really want and need; it makes sense to focus on health and the prospect of a great life, rather than on merely the infirm and ill or the promise of illness. “

Reflecting the need for change in attitude to how people over 55 want to live, these developments all have great facilities – from gyms, braai areas, party and games rooms to swimming pools and more.  As Monarc Developments director Trevor Drabbe explains:  “We’ve focused on giving residents the chance to live it up rather than prepare to die.”   Overall, the developments allow the residents total independence and freedom to do what they want and, as Drabbe adds, “no-one is going to be forced to pay for a certain number of meals a month or turn their lights out at a certain time.  Having ideal lock up and go apartments, residents will be entitled to travel freely and come and go as they please”.

Drabbe continues:  “There aren’t enough modern, well functioning buildings available for senior citizens.  Rather than stereotyping people just because they’re getting older, we’ve looked at our future residents as discerning, fit and active people who want the power and freedom to make their own choices.  These developments meet that ‘brief’ in every sense.”

The Rondebosch development – Boschwood – is situated on the banks of the Liesbeek River and is expected to set the benchmark for future developments designed for senior citizens.  It has close proximity to the major shopping centres, various denomination churches, a post office, a railway station and even the CPOA itself.   It features 62 brand new, modern apartments, tranquil gardens, 24 hour security, a gymnasium and games/party rooms, braai areas and more.

The Claremont development - L’Avenir - is set in the heart of Claremont, with a 180 degree view of Table Mountain and is in close proximity to all amenities. It provides 21 north facing apartments, with full perimeter security, 24 hour access control, basement parking and a communal pool.

The Hout Bay development – The Empire – will have 60 apartments with 24 hour security and undercover parking, conveniently located for easy access to the shops and the beach.  Residents will experience beautiful sunrises over Constantia Nek and witness the tranquil sunsets over the Sentinel, and still be able to enjoy the many attractions that Hout Bay has to offer.

All the apartments are sold on a Life Rights* basis, which means the buyer purchases exclusive use of the property and it remains theirs for the duration of their natural life or until they choose to relocate. In this instance, the apartment is offered for sale to qualified buyers at the prevailing market price and the outgoing resident (or estate) should receive the full capital invested plus 25% of the market appreciation after refurbishment costs. All apartments will have panic buttons, linked to 24-hour security for emergency assistance.

Billy Rauch feels that Life Rights are the preferred vehicle for all future retirement developments because “this allows the purchaser to buy into a professional organization with experience in care and retirement, and it gives the purchaser a Return on their Investment”.

Last modified on Wednesday, 12 March 2014 09:07

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