Rockridge project garners interest
A new development set to be built on a prime location in Umhlanga in Kwazulu-natal has already garnered a great deal of interest. Lea Jacobs investigates
LONG regarded as the playground of the rich and famous, Umhlanga has blossomed in recent times and now features a wonderful mix of upmarket homes and a thriving commercial sector.
Viewed by many as boasting one of the most beautiful coastlines in the world, initial development in the area started off as a beach cottage called the Oyster Box. It was not long before others, attracted by the subtropical climate started to flock to the area and by 1931 Umhlanga Rocks featured numerous cottages, shops, hotels and guesthouses. The Oyster Box Hotel, which has hosted various celebrities and royalty including Prince Albert and Princess Charlene of Monaco, was built in 1947 on the site of the original cottage. Interestingly, the tin roof of the Oyster box was used as a navigational beacon until 1953 when the now-famous lighthouse was built.
What started off as a small, sleepy seaside village has grown into an upmarket metropolis of pavement cafes and restaurants, high-class boutiques and some of the chicest hotels in SA.
The fact that big business has moved out of central Durban and now resides virtually on Umhlanga’s doorstep has boosted property development in the area and anything new is bound to attract attention.
Lightstone statistics reflect the ongoing demand and the figures show that 92 sectional-title units and 19 freehold properties have been transferred this year.
Sales have remained fairly consistent and while the price of sectional-title property has been somewhat static since 2008, the prices of freehold property in the area have soared. That said, the average price paid for a sectionaltitle unit in Umhlanga Rocks remains at a healthy R2.361m. The value of number of sectional-title units sold so far this year is R217.213m.
The news that Tongaat Hulett had received permission to devel- op the Umhlanga Ridgeside area was announced in 2007. Formerly the site of sugar cane fields, it is not surprising that the news that 140ha of prime coastal real estate was going to be developed and would facilitate development comprising 150,000m² of commercial/mixed-use space, 100,000m² of offices and 3,000 residential units, garnered a great deal of interest.
If the number of people who attended the launch of RockRidge, developed by VSM Investments, and the first mixed-use development in the Ridgeside precinct, is anything to go by, that interest has not waned. Situated between Umhlanga Gateway and Umhlanga Rocks Village on Umhlanga Rocks drive and only a 15-minute drive from King Shaka Airport, the development literally has something for everyone. In addition to the panoramic sea views on offer, the Precinct has incorporated some of the world’s finest urban planning that is set to create a vibrant city life all set in an area that features lush green parks, tree-lined boulevards, piazzas as well as a network of walking and cycling trails.
The development offers 79 one-, two-, three- and four-bedroom penthouse apartments, with a high-end, ground-floor retail component.
Each unit has adjoining garages via a drive-up ramp, with ample parking for visitors on the same level as the apartments. Price: From R1.755m to R11.9m Contact: RockRidge Sales Stuart Ferguson 087 231 1585 Office 076 426 2333