Weekend Argus (Saturday Edition)
First occupants come home to Chapman’s Bay Estate
THE FIRST residents have moved into their new homes at Chapman’s Bay Estate on Ou Kaapse Weg in Noordhoek.
Mike Greeff, chief executive of Greeff Properties, Christie’s International Real Estate, says the development continues to garner interest from would-be buyers, and actual sales figures show healthy growth in selling prices.
“Sales revenue amounts to over R261 million, and since launching in mid 2014, Greeff Properties, which has a sole mandate to market the mountainside development, has sold 89 units which is 73 percent of the available stock. We are a full year ahead of our sales projections, which reflects the strong demand for this product,” says Greeff.
“Demand for secure estate living is very strong, and buyers at the initial launch have already noted an increase in capital value which far outstrips current stock market investments and even beats average selling price increases in properties in the southern peninsula and southern suburbs.”
He says the town house prices have increased most – by 39 percent on the selling prices. The price of Courtyard homes has risen by 33 percent, and the Avenue home prices have grown by 22 percent.
Chapman’s Bay Estate is on the mountainside along Ou Kaapse Weg, with abundant indigenous flora and fauna, and exceptional mountain and sea views. The developers are Percipient Property Solutions and Kaikoura Capital.
“We will continue to complete and hand over the town houses over the next few weeks,” says Magnus McDowall of Flagstone Property Development, the turnkey developers of the group housing site.
“The first of the freestanding houses are already out of the ground and due for completion over the next quarter. Construction of homes in phases three to eight will also be com- mencing within the next quarter.”
“Based on the success of sales in phase six, a number of units in the final phase – phase seven – have already been released. The entire phase seven will consist of 12 Avenue with exceptional views thanks to its position at the very top of the estate,” says Greeff.
Currently for sale at Chapman’s Peak are plots priced from R1.51m, town houses from R3.495m, Courtyard homes from R4.35m, Terrace homes from R4.895m and Avenue homes from R5.195m. No transfer duty is payable.
“The single- level Terrace units are a more recent addition to the suite of available homes at Chapman’s Bay Estate, and have three or four bedrooms with living space ranging from 283m² to 304m²,” says Greeff.
For details, call Morgan Morris on 082 4454293, Dale Gremels on 082 539 9393 or Bruce Durham on 082 380 1880. Visit www.chapmansbay.co.za.