Dom­i­nat­ing the sky­line

A new devel­op­ment in Umh­langa has been com­pleted and the own­ers have started mov­ing in. Lea Ja­cobs re­ports

Business Day - Home Front - - HOMEFRONT -

Founded in 1895 by Sir Mar­shall Camp­bell, the first ho­tel was built in Umh­langa in 1920. It was the start of great things and the area quickly be­came a pop­u­lar choice with hol­i­day­mak­ers.

It is highly likely that the area would have re­mained merely a play­ground for wealthy sun seek­ers, had it not been for the de­cay of nearby Dur­ban’s city cen­tre. In a move that has been ex­pe­ri­enced by a num­ber of other busy met­ro­pol­i­tan ar­eas around the coun­try, big busi­ness, un­will­ing to op­er­ate in run­down ar­eas, has moved out to greener pas­tures.

The north coast was the ob­vi­ous choice. Although only com­pleted in 2010, King Shaka In­ter­na­tional Air­port which is sit­u­ated close to the town, had been on the cards for years, and there were other im­por­tant fac­tors too. Large tracts of land that were for­merly owned by the Ton­gaat Hulett Group were sold for devel­op­ment and the rest, as they say in the clas­sics, is his­tory. Umh­langa Ridge quickly be­came the “in’ place to be” and con­struc­tion in the area pro­ceeded apace.

Set in a prom­i­nent po­si­tion against the Umh­langa Ridge sky­line and vis­i­ble from as far as Vetch’s Pier and the Sibaya Casino, One on Her­rwood has sprung to life as new apart­ment build­ing with own­ers al­ready tak­ing up res­i­dence.

Launched in early 2010, in the face of a chal­leng­ing econ­omy and tight prop­erty mar­ket, One on Her­rwood, in Her­rwood Drive, has been an out­stand­ing success, notch­ing up a to­tal sales value of around R180m, in­clud­ing VAT.

“This is an ex­am­ple of what can be achieved when pro­fes­sion­als — from the de­vel­oper to the ar­chi­tects, mar­ket­ing and sales and con­struc­tion teams — work to­gether,” said Myles Wake­field, CEO of Wake­fields Real Es­tate.

In re­cent weeks the de­vel­op­ers, Tape­zoid In­vest­ment and Wake­fields Real Es­tate, which has mar­keted and sold the units since in­cep­tion, handed over the keys to res­i­dents and unit reg­is­tra­tions are un­der way.

As the ma­jor­ity of own­ers tackle the task of in­te­rior decor, some have found ten­ants, while a few in­vestors have put their units back on the mar­ket. Prices range from R1,15m for a one-bed­room unit to R2.195m for a three-bed­room unit. Monthly rentals vary from be­tween R7,500 and R9,000 for a one-bed­room unit to be­tween R14,000 and R16,000 for a three­bed­room unit.

A prime fea­ture of the ca­banastyled build­ing is its sweep­ing sea views which can be en­joyed from all units, from the ground floor up. With­out a doubt, un­til some­thing else of the same cal­i­bre is built in the area, One on Her­rwood will dom­i­nate the sky­line.

“The de­vel­op­ers, have de­liv­ered on their ‘no com­pro­mise” at­ti­tude, right from the build­ing’s de­sign to the in­te­ri­ors, qual­ity fin­ishes, ap­peal­ing sig­na­ture lobby and ex­cel­lent around-the-clock se­cu­rity with pa­trols and mon­i­tor­ing by CCTV cam­eras,” said Haydn Wake­field, di­rec­tor of Wake­fields Real Es­tate.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.