Only ten weeks since they launched their new Kenilworth apartment development, “Three Fountains”, which will be sited between Greenfield and Harfield Roads, Rawson Developers have sold just over 45% of the 119 units in this project.
Carl Nortje, Managing Director of Rawson Developers and Trevor Weston-Green, the company’s Property Development Analyst, have both said that they attribute the rate of sales, the fastest ever achieved in a Rawson Developers’ project, primarily to this being not only the first new development above the railway line in Kenilworth in the last 16 years but also to the price structure which, said Nortje, is significantly lower than that of most Rawson Developers’ recent Rondebosch and Claremont developments.
Average prices here, said Weston-Green, range from R755,000 for a 32 m2 bachelor studio unit to R1,785,000 for a 71 m2 two bedroom unit with a large exclusive use garden. The one bedroom 46 m2 units sell on average for R980,000. The two bedroom apartments have been particularly favoured by purchasers, only 12 of the 40 are still available for sale.
Nortje has explained that prices vary from unit to unit depending on whether they are north or south facing and on the height above ground – the building has five storeys in all.
All units except the studios have balconies and those facing north have panoramic views of the southern spine of Table Mountain. Parking under cover or in the open is provided for all residents’ vehicles within the security fence.
Although prices have been kept low, said Weston-Green, the standard Rawson Developers’ finishes such as 600 mm x 600 mm ceramic tiles in the kitchens and bathrooms and granite countertops in the kitchens have been specified in all units. In addition, all units will have ovens, hobs, extractors and significant power savings will be effected by their being given heat pumps rather than the, now out of date, conventional electric geysers
Nortje expects construction on site to begin by May 2014 and the first handovers to take place by August 2015.