Asrin Property Developers and International Housing Solutions have announced that construction is complete on the fully sold out phase one of Vanguard Residential Village at Heideveld.
Handover of the 135 units started at the end of June this year, says Shiraz Onia, construction director at Asrin.
“Construction on this phase has gone incredibly quickly and smoothly,” said Onia. “Work started in September last year and to date has run without glitches.”
This phase comprises a mix of freestanding homes and sectional title apartments, which sold at prices ranging from R389 900 to R445 095 including VAT and transfer costs for the apartments, and R629 900 to R688 895 including VAT and transfer costs for the houses.
Work on phase two, which consists of 102 two bedroom apartments with 45m² each is well underway and is expected to be completed by early next year. The prices of the new units in phase two of Vanguard Residential Village range from R389 900 to R688 895 and, as on all the other Asrin developments, above average finishes have been used such as fully tiled floors and laminate wood flooring. Ovens and built in stoves, however, are optional extras, said Onia.
Rawson Properties and Pam Golding Properties are the agents handling the sales at Vanguard and they have a full time sales office on site.
Most of the buyers at Vanguard Village are first time home buyers and owner-occupiers that are younger couples, said Onia. There are, however, some retirees who have bought here to downscale, he said.
There is currently a high rental demand, with units achieving rentals of R3 800 to R4 200 per unit per month for a two bedroom 45m² apartment, said Onia.
“As this development is the only lifestyle estate available in the affordable bracket in this area, we envisage phase two selling out quickly. Demand is high in the affordable bracket and supply is lower than it should be, and Asrin work hard towards creating affordable housing opportunities in secure environments such as these. The fact that we have a high calibre joint venture partner in IHS makes this a lot easier,” he said.