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
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