Shoreline Sibaya came into the market as a retirement estate that would break boundaries. The developers, Carmel Properties, have been dedicated to listening to what the retirement market is looking for. As a result, they fully understand the gripes that retirees have when wanting to invest in an off-plan development, when their equity is tied up in their family home. With this particular issue in mind, Shoreline Sibaya has established a new partnership with Lombard Insurance Company Limited, who are a niche and specialised risk insurer. This partnership presents a financial solution that is a first-of-its-kind in the retirement industry.
Due to the fact that retirees can’t get a bond and, in many cases, have their money invested in their existing home; they find themselves stuck with the decision to sell their house to invest in an off-plan development or to only sell their property once the retirement development is complete. While neither option is favourable, it results in retirees losing out on a perfect retirement opportunity at a great price within secure areas. With Shoreline Sibaya having partnered with Lombard, this will be a thing of the past, as they offer a guaranteed solution for retirees wanting to invest in Shoreline Sibaya.
“When Shoreline Sibaya discussed their challenges with us, we were eager to get on board. We were delighted to not only be able to conceptualise a viable option, but to be the first in our industry to offer such a solution for retirees. Our solution bridges this gap in the retirement industry. By providing this solution we are able to facilitate the transaction for Shoreline Sibaya and for their interested buyers who are unable to sell their current home immediately,” explains Sarah Wright, Lombard representative.
It is these types of details in the retirement industry that truly make a huge difference to the market demand. Shoreline Sibaya has become the fastest selling retirement estate within KwaZulu-Natal and has already sold 70% of their apartments. With construction underway, we expect them to receive much more interest and in a short space of time see them reaching their sales targets.