Completion of Asrin Property Developers’ Azure on the Bay development is expected by May 2016 and there are only 14 units left for sale.
Construction and sales at Asrin Property Developers’ 83 unit upmarket apartment development, Azure on the Bay at Big Bay on the west coast of Cape Town, has gone according to schedule, with full completion expected by May 2016 and handovers to begin in June/July 2016, says Shiraaz Hassan, commercial director for Asrin.
The show unit is now all but complete and it is expected to be open to the public for viewing in the first week of December. Of the 83 apartments released for sale approximately one year ago, there are now only approximately 14 units left for sale.
“The agents, Pam Golding Properties, are positive they will achieve full sellout of the units by the end of February 2016,” said Hassan. “In terms of timing and placement of this development, we feel that these units have been well received because there is a scarcity of beachfront property below the R2,5 million mark within the popular Big Bay waterfront area. The average sales prices of units at Azure on the Bay have sold from R1,8 million to R3,5 million for a penthouse suite”.
Buyers into this scheme have been attracted by the richly landscaped, sheltered communal courtyard area with pool, he said. In addition, being close to the ocean and a stone’s throw from the Eden on the Bay retail centre allows the discerning investor to enjoy the best that the West Coast has to offer without having to drive anywhere. This has enhanced the investment appeal of Azure, said Hassan.
“The Big Bay Waterfront is definitely set apart from many others when it comes to offerings within walking distance. Those who live here have many world-class restaurants on their doorstep as well as convenience stores and a good selection of boutique stores,” he said.
“The beach here is a popular spot for many and becomes a hive of activity, particularly in the holiday season. It offers pretty much all the lifestyle attractions that the Atlantic Seaboard does, at a fraction of the price. This is, however, without the frustration of a shortage of parking or congested open spaces,” said Hassan.
The design of the building is a well conceived one, with its single basement parking area allowing direct access to units via a lift, and view corridors strategically placed so that each unit enjoys a view of either Table Bay, the courtyard or the sea.
“With many of the units already gaining 11% in value since the development’s launch, it is easy to see why those who have bought here have opted for this development to invest in and we look forward to handing over completed units to our eager buyers,” said Hassan.