Cen­tral flats mak­ing a come­back amid re­vival of CBD

Weekend Argus (Saturday Edition) - - PROPERTY -

SOME OF t he ci t y’s older apart­ment blocks are mak­ing a come­back in pop­u­lar­ity with buy­ers and tenants says Se­eff City Bowl man­ag­ing di­rec­tor Ian Slot.

“Amid far-reach­ing up­grade plans for the City Bowl ar­eas, a num­ber of t he city’s older apart­ment build­ings are get­ting make-overs,” says Slot.

Older apart­ments in and around the city cen­tre have con­tin­ued to at­tract buy­ers, rang­ing from young cou­ples to par­ents buy­ing for their chil­dren com­ing here to study or to their first jobs, say Se­eff agents Bridget Shif­fer and Ber­nice Musikanth. T h e most i n de­mand are t wo- bed­room units, priced be­tween R1.2 mil­lion and R1.8m. The agents have sold 16 units in this price band in the past two months.

“There is good value in some of the older apart­ments. Two apart­ment blocks in par­tic­u­lar are of­fer­ing ex­cep­tional value right now, given that they have re­ceived re­newed fo­cus.

“The first of these is one of t he c i t y’s most no­to­ri­ous blocks, Se­na­tor Park, which is be­ing up­graded. Plans in­clude in­tro­duc­ing state- of- the- art, ac­cess con­trolled se­cu­rity, a make- over of t he com­mon ar­eas and an up­grade of the gar­dens. A name change is also be­ing con­sid­ered.

“The block is in Long Street… and we have al­ready re­ceived queries f rom l aw firms want­ing to se­cure units for their young at­tor­neys. Buy­ers can ex­pect to pay R420 000 for a 42m bach­e­lor apart­ment we are mar­ket­ing at Se­na­tor Park.”

They say an­other com­plex that is now well-run and man­aged again and of keen in­ter­est to buy­ers is Sky­ways, on Con­sti­tu­tion Street in Zon­nebloem.

“This de­vel­op­ment con­sists of a num­ber of blocks that are named af­ter Euro­pean air­ports such as Gatwick. It is se­cure with con­trolled ac­cess and com­mu­nal grounds with a swim­ming pool and braai fa­cil­i­ties. The com­plex is within walk­ing dis­tance of the Cape Penin­sula Univer­sity of Tech­nol­ogy, so it’s pop­u­lar with stu­dents and of­fers in­vestors good value for money with rental in­come po­ten­tial.

“Stu­dent rentals r ange around R1 850 a month per per­son. The com­plex is equally pop­u­lar with peo­ple work­ing in the city look­ing for lock-upand-go homes that of­fer con­ve­nient ac­cess to the city. There are a num­ber of units for sale in Sky­ways in­clud­ing a 60m flat with two bed­rooms, one bath­room, an open-plan liv­ing area and a garage, priced at R675 000. The unit has new alu­minium win­dows and both bed­rooms can ac­com­mo­date dou­ble beds.

“That there is real value to be had in and around the city, is borne out by the ex­cel­lent sales t h i s ye a r. “E ve n t h o u g h de­mand for af­ford­able apart­ments re­mains op­ti­mistic, sell­ers should be aware that buy­ers are still tak­ing their time and do­ing their home­work be­fore mak­ing the fi­nal de­ci­sion.”

ON THE UP: The Sky­ways com­plex near CPUT is pop­u­lar and a two-bed­room flat for sale here is priced at R675 000.

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