06 Mar 2012
Whether buying a primary residence or for letting purposes, the new residential property developments in Johannesburg and Cape Town are in demand.
Forty on Oak at Melrose Arch has 59 apartments measuring between 95 square metres for one bedroom apartments to 886 square metre penthouses. These are priced between R3.7 million and R28 million.
In Johannesburg, Melrose Arch’s latest residential development Forty on Oak is set to deliver a super-modern cosmopolitan lifestyle to a privileged few.
Buyers of these homes can expect exclusive style, comfort and forward-thinking technology in these new homes.
Forty on Oak has 59 apartments measuring between 95 square metres for one bedroom apartments to 886 square metre penthouses.
It has set a new standard for sustainable living and boasts the first ever Four-Star Green Star Rating awarded to a multi-unit residential development in South Africa.
Built on an existing ‘green’ infrastructure, further energy reductions are accomplished via the use of revolutionary technology that intelligently reduces and monitors energy consumption.
Developers Amdec say those that buy to live at Forty on Oak will enjoy the ultimate in enviable lifestyles, just steps away from the very best in shopping, wining, dining and more.
“Forty on Oak seamlessly delivers everything the heart desires in a luxury lifestyle investment that will appreciate over time,” says Amdec.
According to Amdec, this development has attracted significant interest from foreign buyers and local corporations.
They say the top-end buy-to-let investors appreciate the superb returns that Melrose Arch apartments have achieved to-date.
Beyond the obvious qualities evident in the apartments themselves, appreciating value may also be attributed to the excellent security and brilliantly managed and maintained environment.
Peet Strauss, Melrose Arch development manager for Pam Golding Properties (PGP), says 35 of the 59 units available in the five-storey apartment block situated adjacent to the Protea Fire & Ice Hotel have already been sold.
This represents more than 70 percent of the apartments, which were placed on the market by PGP in June 2011.
The apartments will be ready for occupation by the end of this year and are valued from between R3.7 million and R28 million.
The total value of the units in the new apartment block is R400 million.
Strauss indicates that two of five luxury penthouse apartments available have also been sold for R25 million and R28 million respectively.
Strauss explains that demand is spurred on by the limited accommodation on offer in the highly fashionable mixed-use development as much of the space in Melrose Arch is devoted to offices and retail.
There will only be a total of 172 units available once the third phase is complete and because Melrose Arch offers secure high-street living, these apartments are fast proving to be a sound investment, he says.
In Cape Town, Little Moorings, the first new residential development to be built at Century City in the past 18 months is almost complete with transfers scheduled to take place this month.
Comprising 42 one and two bedroom studio units, Little Moorings is the first new development to be linked into Century City Connect, Century City’s revolutionary fibre optic open access network.
This provides the country’s fastest last mile open access network over which a select number of Internet Service Providers (ISP) can offer those living and working in the precinct the fastest voice, broadband and multi-media services.
Brian Usher of Property World, the official on-site agency at Century City, says only two of the 44 apartments remain to be sold.
Buyers at Little Moorings were investors who bought to-let and tenants were snapping up these apartments, many of which are water facing.
“There is no doubt Century City Connect has been an additional drawcard with tenants prepared to pay a premium to stay there,” says Usher.
One bedroom apartments command rentals of between R6 500 and R6 800 per month and two bedroom units from R8 800 to R9 000 per month, he says.
Each of the apartments in Little Moorings has a termination point enabling residents to connect to data, multi-media, broadband and voice services.
Usher says users would not have to go through the lengthy process of applying for a traditional landline as phone connections are provided for in the various ISP packages through Century City Connect’s network.
Little Moorings is set in a secure, private garden fronting onto a canal which links into the 8km of waterways at Century City with the site secured by means of perimeter palisade fencing with access control.
Priced from R750 000 to R1 750 million, apartments measure between 50 square metres for one bedroom units to 99 square metres for two bedroom, two bathroom apartments.
The Herschel which was launched in 2011 is an iconic luxury apartment building which continues the transformation of Claremont’s central precinct, which started with the construction of Cavendish Square 30 years ago.
Set within 150 square metres of Cavendish Square and within easy cycling or commuting distance to the University of Cape Town, The Herschel comprises 66 apartments priced from R1.2 million.
Berman Bros and Sandak-Lewin Developments formed a joint venture to develop this R140 million project on a prime site of 2 364 square metres on the corner of Herschel Road and Herschel Close near to Herschel Girls School.
Paul Berman says they have sold 30 percent of these top-end apartments so far to a wide range of buyers.
Buyers include local people downscaling from larger, older homes to reduce their overheads and looking for a lock-up and go lifestyle and young entrepreneurs and businesspeople, investors and parents of students at UCT.
Buh-Rein Estate the largest private development currently being undertaken in the Western Cape suburb of Tygerberg will have 3241 apartments, 133 freestanding homes and 137 townhouses once complete.
Developer MSP’s chief executive officer Riaan Roos says they have concluded over 300 sales in Buh-Rein Estate since January 2011.
Of these, close to 100 owners have already taken transfer of their completed properties and moved in or rented them out.
Buh-Rein Estate is proving to be a popular choice not only for first-time buyers, but also tenants.
“We are experiencing an incredible rental demand as the apartments become available, they are snapped up and the waiting list continues to grow.”
Two bedroom apartments fetch rentals of R4 000 per month and Roos attributes the success of the estate to a good balance between lifestyle, security and convenience at a very affordable price.
Buh-Rein Estate offers a state-of-the-art five-tier security system that includes 24-hour on-site patrolling vehicles, precinct access control with manned guards, remote access gates at each complex and perimeter fencing, and 186 day/night CCTV and dome cameras linked to an on-site security control room.
This estate also offers 20 pocket parks, multi-purpose sports fields and green zones, more than 2000 indigenous trees, 10km of jogging and cycling tracks, a shopping centre and a petrol station, a fast food drive-through, a sports clubhouse and management centre.
Also planned are a private school, a crèche, a church and a medical facility, as well as a daily transport service to Stellenbosch and Cape Town.
Freestanding contemporary barn-style homes with two to three bedrooms, single or double garages and upmarket finishes have recently been launched from only R799 900 (R20 000 securing deposit required).
Stylish two bedroom apartments are priced from R514 900 (R10 000 securing deposit required). – Denise Mhlanga
