It’s a hip and happening life
Michelle Swart finds out about a value-formoney development in upmarket Houghton
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