Pinehurst in the Cape Town northern areas is set to further boost its capital growth with the construction of a new retail centre.
Pinehurst in the Cape Town northern areas is set to further boost its capital growth with the construction of a new retail centre. Already acknowledged in a national survey to have one of the highest capital growth percentages in its category in South Africa, the construction planned for 2013 will have a school and a retirement village.
Already acknowledged in a national survey to have one of the highest capital growth percentages in its category in South Africa, the construction planned for 2013 will have a school and a retirement village.
One of two major suburbs in the Cape Metropole currently being developed by Garden Cities, Pinehurst showed an average sales price rise on resales of over 20 percent over the past three years.
Garden Cities operations manager, Renier Smith says because it is a growing suburb, they have staged phases that provide the infrastructure needed by a community that will eventually top 3 000 homes.
‘This year we take the facilities into a new dimension with the construction of a school that will be able to serve the community and further afield, and a shopping centre.”
Smith says because no public school is scheduled for the area, Garden Cities has signed with Curro Holdings, a Johannesburg Stock Exchange listed private schooling company, to develop a school on a nearly 10 hectare site.
Set to open in 2013, the school will cater in the first stage for pre-reception through to grade 10 with matric grades to come a little later.
‘It is an absolute pleasure and privilege to be associated with a school of this calibre and we know that it will add a huge amount of additional value to our development and give our residents the highest level of education at an affordable cost.’ says Smith.
There are further synergies as the school will be adjacent to suitably zoned sites for pre-primary facilities, creating an education hub that will cover the entire spectrum of Pinehurst’s school-level education needs.
Curro’s, Malcolm Law says his company would be able to offer fees at the school close to those of WCED schools of similar calibre because of the economies of scale and the school would provide a level of education in line with other Curro schools around the country.
The retirement village, to be called Rochefort will only be available for sale from 2013.
This will consist of 149 single residential erven ranging in size from 271 square metres to 497 square metres, with most being about 350 to 380 square metres.
The access-controlled village, with private roads and its own private park and clubhouse, will be developed in terms of the Development Schemes For Retired Persons Act, (Act No. 65 of 1988).
Another innovative development on the perimeter of the suburb is a storage facility that is expected to be used extensively by residents of Pinehurst to store their excess household goods, caravans and boats.
The facility is being developed by Stor-Age on a 1.2 ha site of which 8 600 square metres will be available for rental.
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