The first phase of the Beacon Rock development has been completed, with the last few owners of apartments having recently taken occupation. Elwyn Schenk, Pam Golding Properties area principal in uMhlanga and eMdloti, says a number of residential units in phase one remain available for purchase, while excellent rental yields are already being achieved for existing owners.
Says Schenk: “Beacon Rock has already earned a reputation as one of the foremost buildings in uMhlanga. Commercial occupiers include BMW/Mini and Daytona Group – which deals in Rolls Royce and Aston Martin cars, which underline the upmarket and select image of the complex. Mo’s Noodles restaurant and a Vida e Caffè complete the picture of an elegant, vibrant and successful precinct. The latest addition to the building is a trendy new S.W.E.A.T.1000 gym (Specialised Weight Endurance Aerobic Training), which is taking off in South Africa.”
He says sought after features of the block include its prime position, being a few minutes’ walk to uMhlanga’s appealing main beaches and the village strip, which offers a wide selection of pubs and restaurants in a safe and secure environment, thanks to the local UIP (Urban Improvement Precinct) which is responsible for a clean, green and secure uMhlanga.
“Visible evidence of uMhlanga’s popularity was seen this last holiday season, which extended to almost two months, when record numbers of visitors enjoyed all that the village and Gateway Theatre of Shopping have to offer,” says Schenk.
“Interestingly, 70 percent of Beacon Rock phase one is owned by investors who are earning an unprecedented eight percent rental yield on the apartments against an average for the area of four to five percent. Add to this a healthy capital increase and you have a formula for an excellent long term investment.”
Given the success of the first phase the developers had no hesitation in extending to Pam Golding Properties uMhlanga the sole mandate to handle the sale of the final phase of 44 apartments. These offer configurations of one, two and three bedroom options, along with large luxury duplex and penthouse apartments – several of which open onto lush, private gardens. In addition, ample, secure on site, under-cover parking is provided for each unit.
The price of the units in phase two are as follows: one bedroom units of 59sqm (including 8sqm balcony) are R1.575 million, two bedroom units of 126sqm (including 28sqm balcony) are R2.95 million, three bedroom units of 134sqm (including 24sqm balcony) are R3.5 million, three bedroom duplex units of 178sqm (including balcony of 34sqm) are R4.3 million and three bedroom penthouses of 206sqm (including balcony of 64sqm) are R5 million.
With its wide corridors and open green common areas, the block offers a sumptuous pool and sundeck, secure access control with CCTV security and exclusive-use covered parking with easy access to all apartments.
Adds Schenk: “uMhlanga Rocks village is experiencing a resurgence, with many of its shopping centres and restaurants having been upgraded. Already home to two 5-Star hotels, the area is increasingly sought after by upcountry visitors as an easily accessible and safe destination for both permanent and holiday living.
“Beacon Rock at the entrance to the village is increasingly being known as the new pulse of uMhlanga, attracting young and old alike, the epitome of ‘fun, sun, sea’, he says.
For further information contact Pam Golding Properties uMhlanga on 031 5615300 or email firstname.lastname@example.org