 Good afternoon and welcome to another episode of The Developer Show. This is a program where we showcase up-and-coming developments, talk investments, and show you how you can find yourself living in the heart of Sanson. Behind me you see Wedgewood, which is Baldwin's latest offering into the market, so follow me while we go inside and show you how you can find yourself living in this absolutely exclusive property. We're going to speak to the guys, we're going to give you some real solid advice, and I think you're going to find this whole episode very exciting. Let's go. Good afternoon and welcome to the latest episode of The Developer Show. Today we are sitting in Sanson, and we have got a very, very special guest, who is Stefan Boertzer, who is the director of Rainmaker Marketing. My name is Chad, and I'll be your host. And, Stefan, thank you so much for taking some time out on this very busy day. It looks like judging by the cars in the parking lot. Yeah, Chad. So you have a good interview with me. No, thanks, Chad. Thanks for being here. I mean, it's a hell of an exciting day for us. We're saying it's probably the most anticipated residential launch in the country scene, and today the guys have queued through the night for the release of Wedgewood Sanson, which is happening today at 8 o'clock. So I think we've got 45 minutes to go, and yeah, I've really pumped it together here. And we're starting. So, like you'd mentioned, Wedgewood Sanson, that's the development of the hour. But what I'd like to start off with is a question I tend to ask all of the guys on the show. And that is, can you introduce us to yourself, introduce us to your team, and also what a client can expect if they decide to go down this journey with Rainmaker Media? Yeah, sure. I think a bit of context, so, I mean, behind you, which you'll probably see during the course of this, there's a fully integrated team here, which is people have arrived for the day. The big demand has been in terms of price points, so there's price points that may have been seen in the Sanson before. And I think the whole process here is effective. Guys have had the ability to pre-qualify themselves, they've won. We've had over 450 people who've actually been pre-qualified through mortgage market who are the mortgage origination partners, I think you're going to chat to Tim at some stage. And then the whole idea to get people here on a first-come, first-served basis and get them through, we've got a whole interactive element, and people have the ability to purchase online. So I think we'll see a hybrid between people purchasing online and virtually, and a huge influx of people who expect here today. And then done pretty smoothly in terms of, from there, in terms of your mortgage application, your $10,000 land deposit, which is quite unique to Bowen in terms of the special and the product and Sanson, and then how all the transfer costs are included in your picture. So the whole integrated system, which is something that Bowen have rolled out really successfully. I mean, what you guys have done here today is absolutely incredible. But let's talk about wedge with Sanson. Yeah. When I say Sanson, I'm not talking about four-way Sanson, or we are close to Sanson. We are literally standing in Sanson. There's a beautiful view of Leonardo from the site, and Sanson City is just around the corner from us, with an easy walking distance, a strolling distance. You could probably have this conversation on the way. No, no, no. Tell me a bit about Wedgewood and what a client can expect if they decide to purchase within Wedgewood. Okay. So I think the biggest thing we, as Marked, is we always use the term Sanson very loosely. Sanson can be 20K that either start. And this, it's really unique. I know when Steve Brookes came to us from Bowen and said, listen, we sort of say, can it really be that you knew within 200 meters of the heart train and literally right next, I mean, if you guys know the radars in the corner, old mutual across the road. So I think Bowen's got a very unique element in terms of they have the ability to bring in price points that no one else can bring in. I think it's got a lot to do with scale. It's a huge development. It's probably the biggest sexual class development in the North of the country, city, 1,348 apartments. And we're large architects who are internationally award-winning architects who've done a lot of stuff before. They've been geniuses. They haven't had to create a product where they've created small living spaces, which are economically done and to try and get into a rough price point. Then we started $27,000 a square, where I think most developments in terms of starting at $45,000 to $50,000 a square, and it's done because of that. And then superciling with facilities. Starting with your motherland coffee in terms of how the structure is going to work all the way through to your co-working spaces, through your restaurants, through your recreational pool areas. And then they've stepped up all the recreational areas step by step. So they've got the outdoor cinema. They've got the six-star soccer pitchers. They've got the, it's just, it's a whole new way of living and to bring that into sense. And I think the whole passion behind this product has been how do you allow more people from outside areas to have the ability to own within the sense. And I think that's where there's such a big thing today. The first unit, the 38th unit from 719 are the only reserve for people who are going to be living here permanently, that haven't been opened up to the best of them. They're a whole big, massive thing. I know, I know, Euphonic, for example, who many of you know, he's a brand ambassador, but his whole thing the whole time is how do you allow more people to own property and to stand the property purchasing process is why we try to integrate everything and to get them into prime locations. And this is, it's not more prime than this. And we've had three or almost 4,000 inquiries to date. It's been going ballistic. And we really are speaking to break record today, which is very exciting for the property market as a whole, especially considering that there's so much other, other factors around the economy and all the rest. So it's really exciting for the market as a whole. Yeah, it's something we speak about often on the developer show is how do you know the development you're purchasing into, because you're making such a big purchase. And you know, this is going to be next 20 years for you. It's a massive relationship. How do you know you're purchasing quality? And with Baldwin, they've got a history of providing quality development. And with this development specifically, how have you managed to get that price point that you're offering it for? So let's say, let me actually phrase it like this. What unit types have you got available? And what are the price points they're going for? Yeah, so there's a combination. So what's quite interesting is that 80, I think it's 70% of the units within the entire development are under 1.2 million. 40% are under 1 million. And that in itself is pretty unique. So there's a huge combination of these units, our studios. They're a couple of different combinations of studios. And yes, those are small complex spaces. But last, I've done a really good job into how they've created those spaces and privacy. Each one's got balconies, which is really important. And then it goes up 19 stories in the building. So people have got the ability to either face northeast, south, and west. So those studios start from $799,000 and I think with interest rates being as low as they are currently, those bond repayments started about $6,100. I think the 20s, the whole marketing is how do you own Samsung from 6120? And then there are one bid that starts from $299,000. And then the two bids go up from about 1.5 upwards, and obviously the higher you go in the building. And it's quite unique. I mean, from the eighth floor up, you're going to have uninterrupted views over Samsung, which will never change base. So it's pretty exciting. I think that's all done based on scale. And I think the big thing is what's included. So what's quite unique is all your big appliances are included, down to your microwave and all the rest, which is this fast point and the herd of. And then the biggest thing from an investment perspective that I always say is look at certain things. Here's the developer. What are your barriers to entry into what's the deposit amount? For us, that $10,000 deposit is a huge thing. You're not paying a 10% deposit, which is often up in the case. And then looking at your cost prior to purchase. So the big thing here is that if you go through mortgage market, you get all your transfer and bond registration costs included, which is a huge thing. That probably saves you about another $25,000. And then because you're buying off time, there's no transfer duty. So there are a lot of those that are added in elements. And for one, I've got a green bond and a structure where you get between $25,000 and $25,000 of your bond. So when you stack all of those things together, it's, I mean, I know a lot of guys are talking about a unicorn product, but it is very unique. And I think that's why the demand has been off the charts, because I think people understand this kind of thing won't come around again. And I absolutely agree with you in you saying it's unique because like you've mentioned, the pricing is so good and you're yaring Samsung and tying that in with where the interest rate is, there's absolutely no way first time home buyers and the people you've marketed this product to aren't gonna make a brilliant investment through the course of it. Tell me what else, what other amenities you've got? Where's it right there in the back? It looks beautiful. What other amenities can people expect if they decide to purchase in which way? Within the boarding itself. Yeah, so I think, so obviously they've done a big thing in terms of, I don't know if you know the brand Training Science. The Training Science is, we're not calling it a gym because it's almost like a new age of things. So it's everything there from your hard-to-form and performance stuff, your normal gym, your personal training, your ass bars, all that kind of stuff. That's a huge component of the space. So that's on the ground floor with the pool and the recreational areas. Lots of back access routes, et cetera, et cetera. We've done a partnership with the Glasgow Park app. Then Park app are next level in terms of how they've created a flexible parking solution F where you have the ability to be able to utilize parking within the building but also in surrounding areas and for visitors and like that, which is really unique in itself. And then as you go up in terms of flexible work spaces, it's a huge work, sort of central work area with work spaces and conferencing rooms and all the rest. And then you've got your pool, your soccer, your art or cinema, your recreational areas. It looks like there's a soccer pitch right on the roof there. There's a soccer pitch right on the roof. So soccer pitch and then the art or cinema above that there's a massive art or chess area. And then the steps up into different chill road zones and relaxation zones. So, yeah, I mean, the architects, good if we give them too much credit but they weren't trying, they worked so much but they've got an incredible job in terms of how they structure it. I think if you're living in a house with a soccer pitch on the roof, you are living in an apartment with that pitomule pool. No, absolutely. And I think where the big thing is here is you're gonna have your first time buyers or your guys who just want to live in Stanton. There's a huge opportunity there. And then naturally you're gonna see the investor market is gonna be a huge thing. And then there's gonna be a very, the huge component of a building of the site is the rental management solution making sure that it's all controlled where it'll be short term, all long term. And the rental yield is a huge thing from a basic perspective. So we are projecting that pretty much all the unit types should be cash for a positive from year one based on the fact that if you take into account what your bond repayments are versus what the rental income that our research team have projected versus the very low levies, which is also a huge component. The levies are 16 round the square meter where probably anywhere in Alston Stanton you're probably looking for about 30 round the square meter. So in a studio you're paying about 450 round a month in levies. So yeah, so I think that's a huge component. So those facilities are so cool to making sure that whether it's a short term or a long term rental whether it's a permanent residence that it's all catered for. Down to all the bike stations, motor bike stations, there's a whole host of different things that are coming through. I think two ways would, it seems like you'll never need to leave and I'd say about a couple of hundred meters around the apartment. I think that was the vision. And I think there's obviously, I think this is, it is revolutionary in its time in terms of you need a developer who's bold enough to be able to put something like this together. And where we see a huge amount of this is if you look at a huge component of the target market which is coming from outlying areas. We did a huge sort of market research survey beforehand in terms of where a lot of those guys who want to live here currently live and where they work. And a huge amount of people are living outside of Santa but 35 of them are working inside Santa. And if you start taking the ability to be able to save on things like travel, even when it comes in future, I believe guys will Uber and do various different things so it will save costs. And when you start doing that understanding what this can offer to just to the property market as a whole and to people who want to get into market it's massive. And I think there's a far greater impact to this country the whole when guys are having the vision and the gut to put them like this all. I think this is the only development that brings real New York living to Cartain where you don't need a car because you could possibly work just up the road. I mean, your shopping centers are right here. You've got your gym in the house, you've got your workspace in the house, you've got your activities in the house and movie scenes in the house. I mean, you can have date nights on the roof. So there's no real reason to leave. And I think that brings that real beauty and the romance of living in New York right here in Cartain. Yeah, absolutely. And I mean, just the design itself, I mean, we're obviously standing next to the model and we've got Cartain right here and we've got our mutual costs right. But just the dance, the virtual, virtual landscaping, it's a green building so it's age certified which is why you actually get a saving on your bond. And that's also like, how do you bring down your carbon footprint? How do you, it just, it is a, this concept was inspired and credit to Steve Brooks and credit to the architects in terms of stuff that's happening in New York, London, the leading destination of the world where this whole macro living, I wouldn't call it macro living, but this whole lifestyle, apartment style has really, really sort of taken off in regards to just super fast facilities in the building, which you can do through scale and you can do it through creating both buildings of pretty big magnitude. So you guys are breaking ground here. We've just arrived on the site. I can see the corp off is spilling up. Yeah, it's actually spilling. I'm just actually looking over your shoulder which is cast streaming at the moment, which is great. So tell me, when somebody arrives here to come speak to you guys, I believe your sales offices are gonna be off to this. What do they need to keep in mind when viewing this area? And also what type, oh, let our viewers know, when is this gonna be completed? When can they expect to move in if they decide to come here and say to you, Stephen, I love this, wanna purchase. When can they expect to move in? So, and I think that's a big thing. So it's that where it is unique is that we do expect to break sales records today in terms of the level of interest and so forth, which means that four are gonna be in position to break ground in March, which is pretty unheard of for a development of this scale. And then they've got a 24 month completion, which is also pretty unheard of. They've got ability to get things done pretty quickly. So the first guys will be in here, 28th of Feb 2023, which is two and a half years from, just under two and a half years from maybe right now. The benefit to that is the off plan capital appreciation. Guys are paying 10,000 right now. No cost between now and then, they just need to get the bond in place to market all provided cash guarantee. And then they're gonna see the capital appreciation. I think we all know that their capital appreciation does prices, I mean, it's hard. You never wanna predict too much, but I think that's where the guys are gonna see a huge opportunity. And that's always the benefit of buying off plan. So the sales office is gonna be here until pretty much we break ground, which is the next three or four months. So we obviously encourage guys to come in here. Address, you can't miss it. You literally walked down a rainy road and there's 100 meters of hoarding that takes you in here. And this set up we've created here is gonna be where the home of wedge is gonna be until the first phase goes into run. So it's exciting, yeah, it's exciting, and yeah, it's a exciting time. Well, Stephen Brutha, thank you very much. Thank you very much. The director of Rainmaker. Yeah, I really appreciate you guys making the time to be here. And we look forward to keeping it updated. It's exciting during your head. Looking forward to it as well, thank you very much. Cool. All in properties, welcomes you to the heart of Santa, to bring you our first high rise apartment development, Wedgewood. Re-imagined cosmopolitan living in Africa's richest square mile. Reinvent your lifestyle from only 799,000 red. Go to wedgwoodsanton.co.za. Welcome back to the developer show. My name is Chad and I'll be your host. And today we are joined by Tim Akinasi, who is the CEO of Mortgage Markets. Tim, thank you so much for taking time to join us. Yeah, good to be with you Chad. I had a very, very interesting with Stefan and I thought we'd now sit down with you. So could you tell our viewers what Mortgage Market is and what kind of role it plays in the development of Wedgewood and in the sales of Wedgewood as well. Sure. So quite simply Mortgage Market is a platform that allows customers to go directly to all of the banks in the country to get a home loan. They'll be able to compare home loans literally from the comfort of wherever they are with the greatest of transparency. They'll get all the toys. We will guide them through the whole process and negotiate the best deal for them. And that's what the platform is. It's a new technology. It's never been done in South Africa but we're pretty much a marketplace of independence where you can get all your home loans in a matter of 20 minutes. Yeah, you also have a really great tool that's our pre-approval tool which allows you to get a pre-approval within two minutes to understand exactly what the banks are likely to give you that allows you to then go out and shop with confidence. And in the case of Wedgewood, we expect people to do a pre-approval fairly quickly to then understand exactly what property and what price range that they can buy in this development. We're working within the industry for such a long time. I'm sure you've seen customers come in and say, look, I've spoken to my bank and this is what they've offered me. Why is it so important to apply to all the banks and not just one and run through a mortgage and originator like yourself? Yeah, so I think the first thing to say is that you can never really say you've gotten the best deal when you only have one bank, right? You need to be able to compare apples to apples. That's when you know you're getting the best deal. So what we do is that we actually go to the same banks, right, and that then allows you to be able to make sure that you get in the best deal. You will know for sure because you're seeing the entire truth of all the banks. So with our platform, we already work with all the banks, so we will go to the banks on your behalf and you just need to sit back, make a choice, knowing that there's the greatest transparency and that you're empowered to know that you're getting the best deal for being an RJ. And for customers interested in purchasing within Wedgewood, if they decide to arrive here or if they can do it over the phone, how do they get in touch with your services? So we have QR codes on our platform that can go on to Wedgewood, Stanton and Cozar and of course, come out here because here is where you actually get the full experience of what Wedgewood is about. You will get to choose all the units. You'll get to be spoken to, what to expect in the next two years until the development actually comes on stream. And you can reach us on our website, mortgagemarkets.co.zde and we'll be able to share with you any information you have about that entire buying journey and most importantly, why this development and not anywhere else. Yeah. Me and Stephen spoke at, I'd say at length about why Wedgewood is such a good investment opportunity. Could you go from the financial perspective and expand on why it is a good investment opportunity and just touch on not only the capital gains but on the initial costs that a customer has to lay down to start off with. So for first time home buyers, buying a development is the perfect way to break into the market because all of your costs are included. So using our platform, when we go to the banks, you actually don't pay any transfer duties, you don't pay any registration costs, all of that is handled through us. The most important thing is that when you're buying a development like Wedgewood, you're not just buying in Stanton, which is obviously the richest square mile in Africa, but you're also buying a development that has all of the amenities, right? So you have a soccer pitch on top, you've got a motherland coffee that's coming, you've got a state of the art gym facility, you've got co-working spaces and you're right on the doorstep of all the schools that made the corporate and Stanton city. So all of those amenities, what's gonna give this property its true influence and value, that's what's gonna make sure that the investment will continue to grow into the future. Scarcity is the name of the game. A piece of land like this in Stanton, you will never find. That literally means at this price point, this is the lowest price point that you will get into the property sector within Stanton and that's what makes this a true unit hand in terms of property investment like that. I like that unicorn. So for customers tuning in, what costs do they need to look at if they decide to purchase into the wedgewood? Obviously there's a price of what unit they choose, but what other costs do they need to just budget for and also let's talk a bit about transfer duty. I think so many customers like to tune in and their year developments are great because you don't have to pay their transfer duty. You're saving such a large amount of money that can potentially go to the bond late on. So what is transfer duty and why don't you have to pay for development? Okay, so in this case the transfer duty is the tax that the government levies. So basically you will, for any development, you actually won't pay any transfer duty for a property that's below a million, but you will be paying transfer costs and the bond registration costs. We absorb that as part of the development team so that you don't have to pay that, right? The other thing is that you will come here, obviously pay 10,000 rounds to secure the unit and what we'll then do is that we will go to the bank and you'll be half and get the bond in place. Now that's critical because your bond will be in place. You don't have to service that facility until the unit is actually built in 2023 and you don't then have to be involved in any other cost except repaying your bond and then of course, there's the levies. There's the levies, the raising taxes. This is probably going to attract the levy cost of about under 500 round a month which is the lowest we've ever seen. I'm sure Stefan spoke to you about the per unit cost. This is about 26,000 square meter. The majority of other places around the same area within 100 meters are going for 60 to 80,000 square meter. So value for money wise, this is never going to be repeated anywhere else again. I would say to customers after they've made their purchase, keep your credit profile clean and save up because by the time the unit is actually built, you want to be able to put more money into your bond in the form of an access bond facility and that's a great thing for you when you just get into equity into the bond very early on. That's also something I wanted to talk about in that when customers are purchasing, they don't have their transfer duty, but tell me what else is a selling point for customers looking to purchase into their development and specifically those development, if they watch the show and they say, you know, wedge wood sounds great, they can leverage your services so they don't need to be nervous about possibly finding a bond but maybe they've also seen that house on private property that they really like. Why go for this development over another house somewhere? So somebody gave me some good advice the other day and he said, it's always best to buy the cheapest house in the best area versus going to buy the most expensive house in the worst area. So the trend is your friend over here because when you're buying in here, you're getting at a price point that will never be repeated again. So your property can only appreciate in value, right? And I'm pretty sure that by the time wedge wood is completely built in 2023, the property value would have increased significantly as well. So you'll really get some capital appreciation which is a great thing for investors. So first I'm home by as well as investors, this is the investment for 2020 that you wanna get into. So if I'm correct in saying this, essentially I'm gonna sit down here and I'm gonna possibly purchase a home in wedge wood and all I need to lay down initially is the 10,000 ring deposit. And secure a bond. And secure a bond. And from there, I'm immediately getting the benefit of that capital gain while the development's being built. But I'm also not paying anything on my bond until the development is completed, is that correct? Absolutely, absolutely. So if the win-win for you, like I said, all you would need to do is obviously be able to afford the bond now and start saving because by the time you need to be committed to the repayment, you no longer have to worry about a deposit that you would have already saved up enough money to put into the bond. So visit us, come to you. You will get to know about the entire journey, what to expect in this whole process and over the next two years as well. Well there you have it, ladies and gentlemen. Tim McKinney, the CEO of Mortgage Market. Tim, thank you so much for lending us some of your expertise, it was a pleasure chatting with you. Thanks Chad. Awesome. Finally, all in property as well comes due to the heart of Santon. To bring you our first high-rise apartment development, Wedgewood. Re-imagine cosmopolitan living in Africa's richest square mile. Re-invent your lifestyle from only 799,000 red. Go to wedgwoodsanton.co.za.