The second phase of Rawson Developers’ Rondebosch Oaks sectional title apartment development, launched on 6^th November 2010, is proving as successful as the first phase says Paul Henry, Rawson Developers MD.

“In the first six days of the launch 71 apartments were sold.  It looks as if all 106 units in this phase will be signed for by the end of December this year.”

The popularity of the project, said Henry, stems from the fact that it is in the Cape Peninsula’s “academic belt” (it is in fact just two kilometres from UCT) and designed to suit the student, young couples and retirees market: the units of 46m² or 48m² in size with 6m² or 9m² balconies, priced from R794 990 to R950 000.

“Nothing else in this price range has been available for a long time in Rondebosch,” said Henry “but there has been no skimping on quality.  The window frames are aluminium, the kitchens will have ovens and hobs and the gardens will be landscaped and automatically irrigated.  The entrance will be guarded round the clock and guards will patrol the enclosed areas which will be protected by electrified fencing.”

Henry said that Rawson Developers had been fortunate to secure three sites, together covering almost 3 ha in Rondebosch.  These, he said, had enabled them to develop three similar multi-unit residential projects, two already launched (Rivers Edge and Rondebosch Oaks), both selling very well.  The third, in Belmont Road, close to Main Road and now known as “The Rondebosch”, is currently being launched.

“Investors appreciate that there is never any difficulty finding tenants for developments this close to UCT and that returns at Rondebosch Oaks will always beat the market average from day one.  At a time where projects are struggling to be viable we are delighted to have schemes that can still ignite investor confidence,” said Trevor Weston-Green, Rawson Developers’ marketing manager.

The second phase of the “wildly” successful Rondebosch Oaks development by Rawson Developers will be launched on the 6^th and 7^th November 2010.

“It is now accepted,” says Paul Henry, MD of Rawson Developers, “that the first phase of this project was one of the most popular launches seen on Cape Town in the last decade.  The time is now ripe for a follow-up.”

Phase one of Rondebosch Oaks, which sold out in four days, consisted of 150 units in three, three storey blocks.  These are on a 1,8ha site, bounded by Albion and Rouwkoop Roads in central Rondebosch.  The site, which belonged to the Music For Life Trust, had several mature oak, palm and yellowwood trees (one of these is said to be the oldest yellowwood in the southern suburbs), all of which Rawson’s have protected, although certain of the palms had to be transplanted into new positions.

The site is four minutes’ walk from the Rondebosch railway station and ten minutes’ walk from Kelvin Grove and the Newlands cricket and rugby grounds.  It is also, says Henry, very well positioned in relation to the university – and many of the residents are studying at UCT.

Phase two will be on the northern side of the site and will comprise two and three storey blocks.  Rawson Developers are offering buyers 46m² or 48m² single bed units with a 6m² or 9m² balcony.  Prices will range from R794 990 to R950 990.  The ground floor units will open onto the gardens.

As on phase one, the entire estate will be part of a security fenced precinct, the entrance to which will be guarded round the clock.

Trevor Weston-Green, who in his previous role as a Rawson franchisee, negotiated the purchase of the site and who is now Rawson Developers’ strategist and head of marketing and sales, said that the phase one units had been fitted out with high standard finishes and these, he said, will be seen again in the follow up.  

Window frames will be aluminium, the kitchens will have ovens and hobs and the communal area floors will be tiles in quality ceramic tiles.  The décor will be quiet, relying on neutral tones to create peaceful, sun-filled interiors.  Details of the development are available on www.rondeboschoaks.co.za.  

The construction will be handled by Rawson’s own team in collaboration with some 40 “tried and tested” subcontractors – a system which, says Henry, gives the company a good measure of control and above-average finishes.

“Our aim,” he said, “has always been to provide property investments at a standard above what would be expected in the price range we get.  As a result,” Henry added, “units in phase one have shown capital appreciation even in these difficult climate.”

All approvals for the project are in place and the Rondebosch ratepayers association has welcomed the scheme.  Work is expected to start before March 2011 and will be complete before the end of 2011.

Weston-Green commented that there has never, in the last two decades, been any difficulty finding tenants in the Rondebosch area and the demand for rental accommodation here can only rise because UCT plans to increase its annual student intake.

For further information, contact Paul Henry on 021 658 7100.  For purchases, contact Trevor Weston-Green 021 658 7134.

The award-winning Eden on the Bay beachfront mixed-use development at Big Bay still 30 apartments available for buyers, says Asrin Property Developers’ director, Shiraz Onia, -but, he warns, the current level of enquiries indicates “without much doubt” that full sell-out will be achieved by the end of summer.

The architects, Stauch Vorster, designed a mixed-use complex for this beachfront site that has a range of retail outlets on the ground floor and above this 171 apartments on two floors. 

These, says Onia, can lay claim to being among the most sophisticated apartments in the Western Cape – some 60% have views of Table Bay, Robben Island, and/or the iconic north east face of Table Mountain.  Others look down into the four wind free internal courtyards where many of the centre’s13 restaurants/bistros and coffee shops have their premises.

Certain of the top floor apartments have barrel vaulted ceilings and all are tiled in expensive 600mm by 600mm porcelain tiles.  The kitchens are fully equipped with ample built in cupboards and granite and Caesarstone countertops.

The apartments have their own secure parking on the lower basement of the complex, entrance to which is guarded and the interiors of which are CCTV monitored.

Access to the apartments is by dedicated lifts to which entrance can only be obtained by means of biometric fingerprint recognition.

Onia stressed not only that these apartments represent a new level of sophistication on the Cape’s West Coast, comparable to those of the best units in the V&A Waterfront, Clifton, Fresnaye and Bantry Bay, but Eden on the Bay, he said, was the last Cape project ever to be allowed direct frontage onto a beach.

“All that separates us from the water is a stretch of lawn and beach sand.  Cape Metro regulations now prohibit any more such projects – but local residents, shoppers and visitors love the arrangement.”

Eden on the Bay, he said, has become the new social hub of the West Coast and is ideally suited to those who are gregarious, cosmopolitan and enjoy a chic sophisticated lifestyle.

The remaining Eden on the Bay units are priced at R1,65 million to R5,4 million.  They have floor areas of 50 to 130m² and, as indicated, they come in both simplex and duplex configurations.

 For more information contact Shiraz Onia on 082 452 5718.

The sectional title registration for the accommodation units at the Shelley Point Hotel, Spa and Country Club on the Cape West Coast (170km north of Cape Town) was recently opened and this, says Norman Noland, Executive Director of Dale Capital, means that the owners of hospitality facilities at Shelley Point can now start selling these units in accordance with their long-awaited plan.

“As property developers and financiers,” he said, “we have to accept that the global financial arena has changed and will never be the same again.  We have to recognise that there is widespread uncertainty about the future and that this demands very special offerings from the developers if the needs of the investing public are to be met.

“In this situation we and others also, however, need to remind the general public that it is time to revive the saving habit and to bear in mind that property has traditionally been the cornerstone of wealth throughout the world.”

In view of the changed conditions, said Noland, developers have to make their offerings safer, more easily accessed and capable of offering above average value.  All these advantages, he said, apply to the Shelley Point suites.

“The Shelley Point sectional title offering is unique and attractive:  in several respects it is far better than has traditionally been available elsewhere in South Africa.

“Firstly, buyers have to realise that this is a very limited offer.  At this stage we will sell no more than 20 of the 88 suites.  Buyers here will, therefore, have all the advantages of exclusivity and the consequent above average capital appreciation.

“Secondly, these units will produce a satisfactory annual return because when not used by the owners they will be in a rental pool serving the hotel and conference guests.  Dale Capital will, in fact, guarantee a minimum rental return of 5% on the total value for the first three years.

“Thirdly, to give real peace of mind to any investors still feeling hesitant, we will guarantee a buy-back of the unit with a profit of 25% after five years – or earlier on a pro rata basis.

“Fourth, we ourselves at the Dale Capital Group will be able to provide funding for purchasers in compliance with the National Credit Act and the Consumer Protection Act.  This, we hope, will enable some 30% of the buyers who would not normally be able to access a bond to buy in at Shelley Point.  However, all potential purchasers will be very carefully screened and will have to have a sound credit record.  They will also have to be able to produce a 20% deposit and to sign on for a relatively short payback period.

“Fifth, the purchaser will automatically become a member of the Shelley Point Golf Club for three years (worth R1,500 per individual per annum) and will for the same period be a member of the PGA (Professional Golfers Association).

“Sixth, the purchaser will be able to stay in his suite or a similar one for 30 days per annum for a service only fee of R200 per night per room.  This is a substantial discount on the usual rate.   

“Seventh – and to many this will seem a major advantage – the purchaser will also be able to swop up to half his 30 day annual accommodation allowance at Shelley Point for 15 nights in Dale Capital’s new Les Escuries Hotel and Beach Club at Mauritius which is aiming for a four star rating and due to come on stream in early 2012.  It is already being said that both its design and will make Les Escuries Hotel one of the top hotels on the island.”

Most of the Shelley Point suites on offer will be duplex and will have 112m² of room space.  In the top floor of these units the attractive pitched thatch roof is left exposed, creating a double volume effect.  Both floors have TVs and the lower floors have living and dining space as well as a small kitchenette.  The décor, described by the interior decorators as a fresh attractive mix of “Mediterranean and Mauritian” styles, is upmarket. 

The larger units for sale will cost between R1,75 and R2 million, inclusive of VAT, which will be recoverable. 

For further information contact Wilma van Reenen on 022 742 1508.

The current low interest rates and the banks’ decision to provide 100% home loans, for properties below the R1,5 million mark, available to first time homebuyers and buyers/households earning less than R15,000 per month, has boosted the demand for affordable property at the Bardale Village Development, a security lifestyle village, in Kuils River close to Zevenwacht Mall.

 Phase Two at Bardale Village, offering new 423 homes, was launched recently, with the construction of 22 homes. 

 “They were sold within a week,” said Peter Jones, Group General Manger of IDP.  “Since then we have been selling on average two homes per week and as a result of the new lending policies and low interest rates, it seems likely that this will increase to three or four per week.”

 The first 22 new homes, said Jones, are already complete and will be occupied shortly and work has started on a further 19 with completion due in early July 2010.

 Jones said that the size of the loan applicants’ combined gross salaries is not as important as their payment and credit profile.  There has to be a monthly net surplus, a significant difference between net income after tax and the family’s expenses.  

“We observed that since the National Credit Act was introduced in 2007, more consumers have been living within their means, have paid off their personal debt and have maintained exemplary payment profiles, resulting in high credit scores and higher interest rate concessions,” said Jones.

“It is, therefore, possible for any couple earning R10,000 or R15,000 and managing their expenditure to qualify for a home loan and buy a property for their family at Bardale Village.”

Standard Bank, Nedbank, ABSA and FNB, said Jones, have to date had an equal share of home loans at Bardale Village, said Jones. 

The homes available in Phase Two range from one bedroom to three bedrooms and the selling prices are now pitched from R369 990 to R532 990.  Further information on pricing, unit sizes, layouts and plans can be obtained by going to www.bardalevillage.co.za.

The homes here, said Jones, have Cape Bo-Kaap styles with flat roofs, central gables and “the sort of finishes not normally found in this price range”.  All, he said, are exceptional value for money.  The finishes include built-in cupboards in main bedrooms, solid wood countertops and built-in cupboards in the kitchen, fully tiled bathrooms with showers and baths, en-suite bathrooms in the bigger homes and backyard walls.  The front gardens have roll-on lawns, street numbers and postboxes, as well as an indigenous tree planted in the front garden.  All homes are linked to a landscaped recreational public open space with playgrounds and jungle gyms.

Jones said that the developers had made significant changes since the completion of Phase One (which had 516 units, all now sold) and these have markedly improved the finishes of the homes.  For example, there are now aluminium framed windows and small but significant changes have improved the interior layouts.

Another big advantage of the Bardale Village homes, added Jones, is that the developer is building the homes first, only putting them on the market shortly before completion. 

“This means that there is a fairly short delay between the time the buyer pays his deposit and takes transfer and buyers do not have to deal with the building contractors and municipalities – they buy a completed home ready for occupation. 

“We have found that our preferred builders are performing to very high standards.  We believe that this is because we have built up relationships with builders who understand our product and are allocated only 20 to 30 homes which they can handle efficiently and on time,” said Jones.

Investors, commented Michael Bauer, Managing Director of IHPC (Pty) Ltd, the exclusive selling agents of Bardale Village, are getting returns of 0,85% per month (i.e. ± 10% per annum) from day one in the first year.  The reason for this, he said, is that the quality of these homes, the lack of supply and the rental demand for homes in this area enables them to achieve rentals of R3,200 to R4,500 per month. 

 “This, of course, is a far higher return than the average residential property investment currently yields,” said Bauer.

 For more information please visit www.bardalevillage.co.za or call 021 9090 301.