City housing project sets land sales record
PMB development sells a record high of R65,471,000 in two days. A new gated housing development has set a new record for Pietermaritzburg property development selling over R65 million worth of units in just two days. The project has given a much needed boost to the city’s struggling post lockdown economy.
Hesketh Estate in Hayfields Pietermaritzburg achieved 79 sales over the launch weekend, which is a new sales record for any secure gated estate within the greater Pietermaritzburg area and a positive sign for the property market.
Developer and Founder of VRG Properties, Nico van Rooyen shares, “We’ve always been passionate about the Hesketh property and being entrenched in motor racing ourselves, we love the history of the racetrack as well as the natural beauty of the environment, we knew we had to create something special that this area has never seen before.”
“When we started on this journey we wholeheartedly believed in the need for a development within this area. As a result we’ve combined the expertise of the professional teams that we have worked with on well-known projects such as the Pearls of Umhlanga and Cotswold Fenns in Hillcrest, to create something that provides the facilities and high standards seen in modern day secure estates.”
“We did extensive market research upfront and identified the massive gap and demand for a secure estate within Pietermaritzburg, at the right price. That is a credit to the development team, who not only listened to our feedback but then set about achieving a fully integrated estate equipped with modern day amenities at a price point between R699 000 – R999 000. The take-up that has been experienced so far is not only remarkable, but emphasizes the great demand within this price segment both for end-users and investors alike. What makes this even more significant is that within the entire combined areas of Hayfields and Lincoln Meade there are only 68 sectional title transfers that occur per year,” reveals Stefan Botha, Director of property development marketing agency, Rainmaker Marketing.
The first phase of Hesketh Estate, Alfa, offers one, two and three bedroom apartments from R699 000 – R999 000. Boasting modern, open plan living, these walk-up apartments welcome the outdoors in through the seamless flow from the interior of the home out onto the balcony.
Van Rooyen concludes, “The demand we’ve seen means that we are 75% sold out of phase 1 in two days which means we are considering fast tracking the release of our second phase.”
For more info, visit: https://hesketh.co.za/