Open­ing up the mar­ket

Michelle Swart finds out how the launch of a res­i­den­tial de­vel­op­ment at Big Bay in the Cape will her­ald a new era in lo­cal area pric­ing

Business Day - Home Front - - HOMEFRONT -

BIG Bay in Blou­bergstrand on the Cape West Coast is about 20 min­utes from Cape Town’s CBD. The area has at­tracted both for­eign­ers and lo­cals alike, es­pe­cially those who are look­ing for a re­laxed life­style. Great beaches and even bet­ter views have been the main at­trac­tion of this stretch of coast, which has been a pop­u­lar wind­surf­ing and kit­ing spot along with other wa­ter sports ac­tiv­i­ties for many years.

In re­cent years, de­mand for prop­erty in this area has boomed, with Big Bay the cen­tre of the growth node. It boasts a se­lec­tion of re­cently de­vel­oped shop­ping ameni­ties and apart­ments, and the growth con­tin­ues.

In light of this, As­rin Prop­erty De­vel­op­ers are now gear­ing up for a launch of a new prop­erty de­vel­op­ment: Azure at Big Bay, which is set to add a new di­men­sion to the to­tal Big Bay of­fer­ing.

Azure will con­sist of one-, twoand three-bed­room apart­ments vary­ing in size from 46m² to 146m². They will be sit­u­ated on the steep slope be­hind but over­look­ing the chic R600m Eden on the Bay mixed-use pro­ject, which was also de­vel­oped by As­rin and which has now been in op­er­a­tion for al­most two years.

Azure will, there­fore, form part of the pres­ti­gious cen­tral Big Bay vil­lage precinct be­low Otto du Plessis Drive, within three min­utes walk of the beach and, be­ing on the doorstep of Eden on the Bay, its res­i­dents will share in its cos­mopoli­tan life­style.

“What makes Azure unique and ap­peal­ing to buy­ers is that it will of­fer units at prices in gen­eral at least half the go­ing rate of apart­ments in the Big Bay area,” says Shi­raaz Has­san, com­mer­cial di­rec­tor for As­rin.

“Buy­ers will have an op­por­tu­nity to pur­chase a two-bed­room apart­ment from as lit­tle at R15 794/m² whereas most apart­ments in Big Bay are sell­ing from R26 000m² to R30 000/m². It goes with­out say­ing that these prices can never be re­peated in this precinct.”

Has­san said that Azure’s de­sign will place the em­pha­sis on a con­vivial, com­mu­nal life­style. It will do this by con­fin­ing the res­i­dents’ cars to an un­der­ground park­ing base­ment, and by cre­at­ing a large cen­tral land­scaped court­yard with a two-level swim­ming pool and en­ter­tain­ment ar­eas which will be open to all res­i­dents and their guests.

Many apart­ments will have ex­clu­sive-use pa­tio ar­eas and the views from their up­per lev­els will take in Ta­ble Bay, Robben Is­land and the in­ter­na­tion­ally recog­nised east face of Ta­ble Moun­tain.

Since the launch of Big Bay, said Has­san, many peo­ple have ap­proached As­rin and other de­vel­op­ers about buy­ing at Big Bay, but in gen­eral the prices are above what most can af­ford.

“Now at Azure, prices are sud­denly within the reach of the mid­dle in­come earner,” he said.

This, he noted, has been quickly ap­pre­ci­ated by the more as­tute prop­erty watch­ers, with the re­sult some 20% of the units have al­ready been put on re­serve for buy­ers who have learned by word of mouth of the new scheme.

Has­san said that a high pro­por­tion of those who have shown in­ter­est in this de­vel­op­ment are cur­rently rent­ing in Big Bay or its im­me­di­ate sur­rounds.

“In view of the pre-launch in­ter­est we are fairly con­fi­dent that we will achieve full sell-out to­wards the third quar­ter of this year and will be able to pass trans­fers to end users by the end of next year,” said Has­san.

“It can­not be overem­pha­sised that to be able to buy a lux­ury twobed­room Big Bay apart­ment for less than R1m, where many units are priced at over R3m, is a rare op­por­tu­nity.” Con­tact: Se­eff Prop­er­ties Emarie Cam­bell 083 601 0822 Of­fice 021 557 1115

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