It’s a hip and hap­pen­ing life

Michelle Swart finds out about a value-for­money devel­op­ment in up­mar­ket Houghton

Business Day - Home Front - - HOMEFRONT -

HOUGHTON/Rose­bank, the bur­geon­ing epi­cen­tre of a re­vi­talised prop­erty mar­ket, is the site for a well priced up­mar­ket avante garde res­i­den­tial apart­ment devel­op­ment that is tar­get­ing a new gen­er­a­tion of buy­ers and in­vestors.

The project, called Ipanema, is a joint ven­ture be­tween two de­vel­op­ers; Bar­row Prop­er­ties, part of the Bar­row group, and Vu­nani Prop­er­ties.

The scheme is be­ing mar­keted by Kent Gush Prop­er­ties.

The new devel­op­ment is the first of this type to come off the draw­ing boards in Houghton in many years.

It in­tends to meet the needs of dis­cern­ing buy­ers seek­ing a high­qual­ity, pres­ti­gious and stylish, yet af­ford­able, mod­ern life­style in this up-mar­ket sub­urb, which is ex­pe­ri­enc­ing a prop­erty up­swing be­cause of new devel­op­ment and in­vest­ment and the ad­vent of the speedy Gau­train.

Work on the mul­ti­mil­lion rand devel­op­ment, which con­sists of 60 units, is ex­pected to get un­der way shortly on a 4 625m² site close to the cor­ners of Ox­ford, 11th Av­enue and 8th Street Lower Houghton.

Com­ple­tion is pro­jected for the end of next year.

The homes in the four-storey, two-base­ment devel­op­ment vary from gar­den units to lux­u­ri­ous three-bed­room pent­houses with sweep­ing views, rooftop ter­races, a built-in-braai and bar and are claimed to be the epit­ome of a stylish, mod­ern life­style.

En­try-level prices be­gin at R1,1m and there is a choice of de­signs and stand sizes from 69m² to 96m², while the rooftop ter­races range from 175m² to 240m² in ex­tent, with prices start­ing at R2,5m. The units are in­di­vid­u­ally and uniquely de­signed so that no two are alike.

A typ­i­cal, spa­cious, twobed­room, open-plan lock-up-andgo unit has been de­signed with an en­trance area, eat-in kitchen, two bath­rooms and lounge and pa­tio over­look­ing land­scaped grounds.

The pur­chase price in­cludes one or two base­ment park­ing bays and a lock-up stor­age area for each unit. “This rep­re­sents real value in to­day’s prop­erty terms,” says Gush.

He says the com­plex is fully se­cured, with concierge ac­cess con­trol. Res­i­dents can also en­joy an on-site gym and laun­dry.

The Gau­train sta­tion and Rose­bank shop­ping malls are about 1km away.

M-Ar­chi­tects, as­so­ci­ates of Bar­row Prop­er­ties, have de­signed a colour­ful, con­tem­po­rary hi-tech, South Amer­i­can styled look and feel for the project, mak­ing cre­ative use of space and nat­u­ral light and with two choices of high­stan­dard fin­ishes that al­low for in­te­rior in­di­vid­u­al­ity.

Gush says: “The Rose­bank Mall, Sand­ton City and Mel­rose Arch are all be­ing ex­panded and up­graded in terms of ma­jor devel­op­ment pro­grammes, and their prox­im­ity to Ipanema is a ma­jor plus for buy­ers.”

An­other im­por­tant as­pect of the devel­op­ment’s ap­peal is the prox­im­ity of the Gau­train ter­mi­nus and the Rea Vaya bus rapid tran­sit sys­tem, he says.

“This is a hip and hap­pen­ing devel­op­ment that meets a real need in the cur­rent prop­erty cli­mate among young pro­fes­sion­als and small fam­i­lies in par­tic­u­lar. Won­der­ful po­si­tion, good pric­ing, great life­style and af­ford­abil­ity are all fac­tors in its favour.”

Knowl­edge Fac­tory’s SAPTG statis­tics in­di­cate that 77% of Houghton’s res­i­dences are full ti­tle, with 23% sec­tional ti­tle.

It re­ports that the 598 sec­tional ti­tle homes in this area have an av­er­age land size of 111m², with the pre­dom­i­nant price band be­tween R1m and R1,5m.

This year more than 40 sec­tional ti­tle prop­er­ties have been trans­ferred in this area for an av­er­age price of about R1,2m.

Last year more than 50 sec­tional ti­tle prop­er­ties were trans­ferred here for an av­er­age price of R1,4m.

Gush says that the devel­op­ment will ap­peal to both owner oc­cu­piers and in­vestors alike and that sales will be off-plan, pro­vid­ing am­ple op­por­tu­nity to ac­quire an early stake in a project that can be ex­pected to show buy­ers an ex­cel­lent re­turn. Price: From R1,1m Con­tact: Kent Gush Prop­er­ties Tammy Men­ton 083 453 7071

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