The first residents have begun taking occupation at Aurora Place, the brand new secure development in Old Belhar, Cape Town. The recently completed complex consists of 96 sectional title apartments, grouped within three-storey walk-ups. The joint venture between property developers Asrin and global private equity firm International Housing Solutions (IHS) aims to provide good quality, affordable housing in a secure environment.
Pam Golding Properties (PGP) has the exclusive mandate to market the apartments, which are priced from R461 329 for a two-bedroomed unit measuring around 45sqm. (Price is inclusive of VAT and no transfer fees are applicable.)
About a third of the units at Aurora Place have already been sold. PGP agent Charlton Williams reports that most of the buyers to date have been either first-time entrants to the property market, or investors wishing to capitalise on the high demand for rental accommodation in the area. “This is a prime location for students, close to the University of the Western Cape, Cape Peninsula University of Technology and Northlink College,” says Williams, “as well as for regular travellers who want easy access to Cape Town International Airport. All major public transport nodes are within walking distance of the complex, including Belhar Railway Station, and there is easy access to the R300 and Stellenbosch Arterial Road, as well as the N1 and N2 highways. Also within easy reach are a number of crèches, primary and high schools, a mosque, church and shopping centre, as well as the Erica Park Sports complex and the UWC Nature Reserve.”
“This is a sought-after residential area with well-established infrastructure,” Williams continues, “which enjoys consistent demand for homes and rental accommodation. It’s no surprise that several of our buyers to date have been existing local residents who have purchased for investment purposes, recognising the significant potential for rental income.”
Aurora Place is accessed via Suikerbos Road through a single secure entrance, and offers a number of communal facilities including a pool, clubhouse, braai area and laundry. The complex is enabled for DSTV connection and has pre-paid electricity meters. All of the apartments have open-plan tiled living areas with a kitchen, dining room and lounge. Each unit is allocated a secure parking bay within the complex.
Most of the new owner-occupiers will be taking occupation on 1 September (2013), once transfers are complete, although the first tenants have already moved in on 1 August. Rentals in the complex start from around R4000 per month.
For more information, call PGP agents Charlton Williams (076 644 6697), Gregory Paulsen (083 629 3294), Lourens Maduna (083 721 3177) and Sidney Moses (082 954 0781), or contact their office on 021 696 4114 or firstname.lastname@example.org.