How Is this EasyProperties IPO Actually Affordable in Cape Town?

When a sea‑view development in the Foreshore casually drops words like “affordable” and “residential-ready”, the natural response is: Girl, be serious.

But this week, our Marketing Officer, Carly Esterhuizen  sat down with Dani Machet, Director at Yieldex Holdings, to unpack exactly why Vanderbilt , EasyProperties' latest property IPO, isn’t just hype.

Meet Vanderbilt

Vanderbilt plays a different game with a rare combination of speed, location, smart design, and standout rental potential. All tucked inside Cape Town’s booming Foreshore district. 

Let’s set the scene

If you’ve tried to buy into the Mother City recently, you already know coastal pricing is spicy. The average home sits way above national levels, and the closer you get to the ocean, the more the numbers flirt with fantasy.

So when someone tells you they’re offering sea views, CBD proximity, and a yield that doesn’t make your calculator cry, it deserves a second look.


“Affordable” in Cape Town? Here’s the trick

Let’s break it down.

1. Bought before the Cape Town boom
   The building was secured before prices soared, giving the developers a low-cost entry point and a pricing buffer they’re now passing on.
   
   
2. Conversions beat new builds
   New builds bring delays, higher costs, and longer timelines. Conversions? Faster, cheaper, and less risky, especially when the building’s footprint is efficient (like Vanderbilt’s). Plus, conversion means less capital drag: the money doesn’t sit idle, which means less pressure to overprice the end product.
   
   
3. Design that saves without sacrificing
   With a smart layout that required minimal structural change, Vanderbilt turned what could’ve been a boxy refurb into a space-efficient, Airbnb‑ready apartment format. The result? A lower cost per square meter without stripping the soul out of the place.

Cape Town has a long way to run and so does Vanderbilt

The city has shown remarkable property resilience, with Foreshore specifically becoming a magnet for digital nomads, business travellers, and lifestyle buyers who want it all: views, walkability, and Wi-Fi that works.

Here’s what Vanderbilt brings to that scene:

• Sea view apartments and not in a “if-you-lean-over-the-balcony” kind of way. Real, framed ocean vistas.
  
  
• Foreshore is one of the most in-demand nodes in the CBD. Hotels want in. Travellers love it. Locals are waking up to it.
  
  
• The design and zoning were chosen with short-term rentals in mind. Flexibility built in, not added on later.

Now let’s talk numbers 

• Expected net rental yield: 10.18%

• Internal Rate of Return (IRR): 10.7%

These are built on a model that’s worked before. The same team that brought us The Rockefeller and The One, two conversion success stories.