This blog post has also been delivered via email and SMS.
Dear Investor,
Herewith a brief update on your 12J investment in one of the Golf Villas on Pearl Valley at Val de Vie Estate.
We have met with the developer towards the end of Jan 2022 and are pleased to report the following progress on your Golf Villa.
Purchase of the land and bespoke villa development:
- Futureneers Capital (the 12J VCC company) has capitalised the NewCo (property holding company) by way of share subscription with your investment capital (less 12J fees).
- NewCo has signed the OTP (offer to purchase) with the developer for stand 710 on The Acres, situated on the south side of the golf club house - refer to the enclosed map at the end of this email to find the location of the stand (north-eastern corner).
- All required deposits have been paid by NewCo to the transferring attorneys in terms of the singed OTP.
- The balance of your capital remains in our bank call account attracting interest at call rates.
Construction and timeline:
- Plans of your villa have already been approved by the Drakenstein Town Counsel.
- Municipal services are in the final stages of installation for the specific section where the villa is situated in The Acres.
- NHBRC approval is expected next week (mid Feb).
- Estimated completion date of the villa according to the developer is set to be Nov 2022.
Reporting going forward:
We will report back on the progress (including some photos) on a quarterly basis going forward, but feel free to email or call me directly on my mobile should you require any further updates or have any additional questions.
Best,
Deon Lewis and the Futureneers team
Map - Golf Villas location
