The first phase of the R30 million Heatherview Boulevard townhouse development has been developed and sold off.
Townhouses in the second phase of Heatherview Boulevard in Pretoria North are selling from R719 000 - click here to view.This is according to Christopher Riley, one of the developers, who says the first ten of 40 two bedroom duplex units in the popular Heatherview Estates, situated to the east of Akasia high school, have been sold.
Riley says the total value of the units sold tallies R7 million, and once all units have been sold, the total value of the townhouse development will be R30 million.
“The total value of Heatherview Estates, with homeowner’s building costs, could be worth a total of R100 million to R150 million,” he says.
Constructed by Big Rock Construction of Pretoria North - responsible for in excess of 500 units in the north of Pretoria and with a reputation for quality at the right price, Heatherview Estates was initially developed and sold in 2007.
“Eight years after the great financial recession which commenced in 2008, an element of confidence has returned and demand is increasing, making it a good time to initiate and expand residential developments,” says Riley.
We are seeing a lot of interest, and expect the Heatherview Boulevard townhouse development will be completely sold off within the next year,” says Riley.“Which is why we decided the time is right to start phase two, three and four, which we believe will sell rapidly.”
He says phase one prices started at R 649 000, and have risen, with extras, to between R689 000 and R699 000.
Phase two units are currently selling for R719 000.
“Phase three and four will typically be selling for R739 000 and R759 000,” says Riley.
“We are seeing a lot of interest, and expect the Heatherview Boulevard townhouse development will be completely sold off within the next year.”
Rentals are now available from R5 499 to R 6 499 per month.
Riley says the advantages of buying directly from the developer include:
- No Transfer duty.
- No transfer free.
- No agent's commission.
- No legal fees.
- Purchaser’s choice of finishes.
- Located within an upmarket security estate.
- Solid investment in the right price range.
Riley reiterates what an important role local estate agents play. Local estate agents have been approached and offered the opportunity to sell and rent out units at predetermined flat rates to keep the prices as low and competitive as possible.
If you require a loan, the bond initiation fees are R5 600.
For more information on the development, click here.
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