Buying Frenzy in Luxury Estate in Cape's Durbanville
Buyers have snapped up more than 270 single residential erven
Buyers have snapped up more than 270 single residential erven totalling more than R550 million at the prestigious Clara Anna Fontein lifestyle estate in Durbanville ahead of the official launch, prompting the developers to release the second phase to the market.
Green says phase two stands, which have an average size of over 1 200sqm, are being sold for between R2.1 million to R4.3 million. Click here to view.
This is according to Colin Green, a director of Rabie Property Group, who says pre-launch sales, which had been predominantly word of mouth, had been exceptional.
“We had held back our official marketing campaign while there were still some outstanding legal issues to settle in terms of appeals raised by the Durbanville Community Forum (DCF) - in spite of it being unsuccessful in both the High Court and the Supreme Court of Appeal, together with several costs awards against it.
“The DCF then petitioned the Constitutional Court to review the Supreme Court of Appeal’s decision, but this too was dismissed last December as, according to the court, ‘it bears no prospect of success’,’’ he says.
Green says based on this decision, they appointed a civils contractor to commence with the construction of roads and services, and will now proceed with their planned marketing campaign.
He says all 259 stands in phase one of the 127ha luxury lifestyle estate have been sold, as well as 17 in phase two.
Phase two stands, which have an average size of over 1 200sqm, are being sold for between R2.1 million to R4.3 million.
"All 259 stands in phase one in the 127ha luxury lifestyle estate have been sold, as well as 17 in phase two," says Green.
The stands, most of which enjoy north-facing views, are all suited to executive-sized luxury homes with architectural guidelines in place to ensure an uncompromising and upmarket standard of design throughout.
Green says the completed development, which borders a private game reserve, will comprise 344 single residential stands, 126 freestanding single and double storey homes for those wishing to buy a complete package, 176 retirement homes and a Reddam House private school.
It will also include a number of recreational and sports facilities, including a gym, lap pool, tennis courts and a squash court, as well as various entertainment venues in revamped buildings for parties and functions.
Green says the original 18th century Manor House on the estate is to be fully restored and re-invented to provide a modern luxury lifestyle centre where residents will be able to enjoy a meal or meet friends for a drink.
The high security estate will boast fibre to the home and have CCTV cameras on the perimeter and throughout, biometric access control, electric fencing and anti-dig barriers, as well as 24-hour manned security.
First transfers of residential stands are scheduled for September this year, he says.
Posted on: 2016-02-25 07:20:16