T&N APARTMENTS

by THOMAS MHURIRO
(KIMBERLEY, NORTHERN CAPE, SOUTH AFRICA)

An initial injection of $5,000,000 is being sought from investors. The land has already been paid for in full. The amount sought will pay for all the building materials, transportation, labour and the technical services required for the completion of this project. The current projection is that the apartments will capture up to 1.5% of the rental market within the city of Kimberley and be able to bring in a conservative figure of $1,344,000 (exclusive of annual rental increases that should be in the region of 6%) within the first five years of its operation. This amount should be able to service the loan positively during this period and beyond. Within the 10-15 years being looked at, and given the fact that an insurance policy will be bought to protect our investors in the event of insolvency and related shortfalls, it is clear that favourable profits will be realised. All things being equal, at the end of a 15 year period, a conservative income of $4,032,000 (exclusive of rental increases) will have been realised. This makes the project a worthwhile investment that is worth funding.

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