Successful sales shift Chapmans Bay Estate in Noordhoek into phase five
Category Property news
“Demand for properties within secure gated estates is at an all-time high and growing,” says Mike Greeff, CEO of Greeff Properties, an exclusive Affiliate of Christie’s International Real Estate. Greeff Properties is currently marketing Chapman’s Bay Estate in Noordhoek, where sales are now underway for plots or plot and plan options in phase five of a planned seven.
High demand equals multiple sales
“We’ve sold 73% of the available properties in the first five phases, which equates to over R200 million of investor confidence,” says Greeff. Construction of 24 townhouses is under way and delivery is envisaged from March 2016. Construction of the gatehouse and road in phase one is now complete and the entire property has been secured with electric fencing. For added security, there is also guard patrol. Cameras and one controlled entrance are part of the planned security measures too.
“The success of the development is obviously based on a high existing demand for this kind of real estate, but also on the fact that stock is extremely short in the Southern Peninsula and indeed throughout the Southern Suburbs. However, a key factor is price: properties at Chapman's Bay Estate are currently selling for up to R4.5 million less than comparable properties in gated estates in surrounding areas of the Southern Peninsula and the Southern Suburbs,” says Greeff.
Don’t delay in purchasing
"The absence of transfer duty amounts to a considerable saving, so while the stock is still available directly from the developers, would-be purchasers should avoid delay, particularly as history has shown that selling prices have a tendency to rise with growing demand,” advises Greeff. He says that interest in the estate has been widespread with several buyers from the Southern Suburbs – mainly families with children – as well as buyers from Gauteng, KwaZulu-Natal and the Free State (the latter of which comprises of families "semigrating" to the Cape). They have purchased the three and four-bedroom Courtyard and Avenue homes.
Interest from international investors
“Most of the buyers are planning to use Chapman’s Bay Estate as their primary residence, but some have bought homes in the estate as a secondary residence. There have also been some investors who are planning to rent the homes out,given high rental demand based on current stock shortages,” he explains. Greeff reports that the townhouses, directly overlooking the wetlands, have attracted many first-time buyers, including younger professionals and couples without kids. Chapman’s Bay has also attracted overseas interest with buyers hailing from as far as Singapore and the United Kingdom, among others.
What makes Chapman’s Bay Estate the ideal place to call home?
Originally farm land neighbouring The Table Mountain National Park, Chapman’s Bay Estate sits on property abounding in fynbos and indigenous fauna, and also includes naturally occurring wetlands. The slope of the site allows for spectacular, sweeping views of sea and mountain. “Land of this nature and magnitude is not going to come around again - this is truly a once-in-a-lifetime opportunity,” says Greeff. “The geographical location is simply unbeatable, given that Noordhoekis a popular holiday and residential area with accessibility to convenient amenities including shopping malls, hospitals, schools, restaurants, a new Virgin Active gym, hiking and equestrian trails and beaches,” he adds. “For those living there, space will be one of the defining factors, since only three homes will be built per hectare,” explains Greeff, adding that 145 homes are planned.
Design variations and greener living
"There will be no identical cookie-cutter houses," says architect Stephen Lennard, who has prepared optional design variations for the houses. Buyers can also opt to buy a plot and design their own dream home within carefully considered design guidelines. "Environmental appropriateness is the primary point of departure. We're trying to avoid visibility, so we've opted for materials and colours with a low reflective index: textured plasters, stone, steel and wood, for example. Roofs will be a combination of asphalt, shingle, corrugated iron and concrete, and roof gardens will also be encouraged," he explains. “Energy efficient homes for greener living and savings on utilities, are also key,” adds Lennard, explaining that design, orientation and extensive use of glass, among other elements, will ensure that homes remain cool in summer and warm in winter.
Property prices
Three-bedroom Courtyard homes are priced from R3 850 000 – R4 450 000, while Avenue homes, (with three or four-bedroom options) are priced from R4 770 000 – R6 650 000. There is no transfer duty. Chapman's Bay Estate is now on show, on site, every Sunday 2pm-5pm, or by appointment.
www.chapmansbay.co.za or call:
Morgan Morris 082 445 4293
Dale Gremels 082 539 9393
Bruce Durham 082 380 1880
Author: Greeff Properties
