A new property development with 83 apartments is to be built at Blouberg’s Big Bay with prices starting from R850 000 and ranging up to R2 million for penthouse suites.
The development will comprise of one, two and three bedroom apartments, varying in size from 40sqm to over 100sqm.
The new development is named ‘Azure’ in recognition of the clear blue colour of the sky, says Asrin Property Developers Director, Shiraaz Hassan.
The apartments will be sited just behind Eden On The Bay mixed-use development and will benefit from being below Beach Road and within easy walking distance of the beach and retail sector.
The ground behind this sector slopes upwards, which will enable most purchasers at Azure to enjoy sea views of Table Bay and Table Mountain, says Hassan.
The development will comprise of one, two and three bedroom apartments, varying in size from 40sqm to over 100sqm. The building will have three stories with a large, secure parking basement.
The finishes, says Hassan, will be in most ways similar to those of Eden On The Bay, but the prices will be exceptionally competitive.
The units are selling from R850 000 including VAT and transfer costs, with the most expensive penthouse suites priced close to R2 million.
Ground floor units will have gardens and wooden decks, and the centre courtyards within the development will create internal out-of-the-wind landscaped spaces including a swimming pool and communal social centre courtyard. Top floor units will have domed roofs.
Access to the complex will be strictly controlled and protected by state-of-the-art security, common boundary walls and electronic gates.
Hassan says that current market prices in the village lead him to think that by the time buyers take transfer at the end of 2012, values at Azure will have already escalated by at least up to 20%.
Construction will begin by mid 2011 with occupation scheduled for late 2012.
For more information, contact Emarie Campbell on 021 557 1115 or 083 601 0822.
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I feel that your article is misleading as the projected 20% minimum return by end 2012 is certainly not guaranteed. Let Shiraaz Hassan put his money where his mouth is and guarantee these returns should they fail to deliver this to unsuspecting purchasers. With the consumer protection act coming in soon, hopefully false advertising such as this article will be eliminated! - Russell
I agree with the previous reader – how can anyone – at this time – say that prices will escalate by 20%. Less astute readers could well be taken in by this statement. Hopefully this sort of statement will be outlawed by the Consumer Protection Act.From what I have read in the press, residential property prices are only likely to show very slight growth over the next year or two. - Will New
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