A new “edgy” industrial chic mixed-use development in Woodstock, to be named 10 on Searle, will be coming on stream and 15 residential units are now available for purchase through Gail Gavrill of Tyson Properties Sea Point.
“This will be a redevelopment of an existing office block, creating a mix of retail, office and upmarket residential space in a well-known Heritage building on Old Searle Street and, the developers, Vestacor Properties, envisage that this lifestyle building will become a landmark in the area”, says Gavrill.
The three residential floors will be added to an existing building, and will be set back to allow for abundant terrace space, as well as accommodating the Heritage specifications for redeveloping this building.
Vestacor are known for their innovative products in the form of mixed-use developments, heritage site restorations and site-use conversions and 10 on Searle will add to their already successful portfolio, she said.
The architect responsible for the design of the 10 on Searle conversion is Michael Dennett of DV8 Architects, who are well known for their philosophy that architectural design should not “be safe, stagnant or sterile”.
The residential units for sale are two bedroom two bathroom sectional title apartments, having a choice of either harbour, mountain or park views (the park immediately across the road is being redeveloped). There will be five units per floor, and range in price from R2,765,000 to R4,770,000 including VAT. The sizes of units range from 79m2 to 120m2, and some units have extraordinarily large terrace spaces in addition to the living space – as much as 114m2 on the largest unit.
Each unit will be assigned two parking bays, which is a bonus in this area, in the basement.
Finishes and fixtures in the units are high end and include white marble aggregate flooring and Bosch appliances in the kitchens. All the units have floor to ceiling glazing, maximising on the views and light infiltration into the units – giving all units an open, airy feel.
The Woodstock area has changed a lot in the past few years, with many young professionals taking advantage of the still-affordable prices of the well known Victorian semi-detached cottages here. There are many trendy restaurants (a couple in the top listings of the world) and innovative media and other businesses, offices, shops and furniture showrooms have sprung up in cleverly converted and revamped warehouses or abandoned buildings. Many businesses have chosen to make this area their base as buildings have been revamped and redeveloped to give it an urban chic feel and look, one that is vibrant and has a very different feel to the CBD, says Gavrill.
Being this close to the city, as well as main routes to the airport and amenities close by, will make investing in a unit at 10 on Searle a popular choice for investors as well as young professional owner-occupiers. “Anyone who buys in here will get good capital appreciation, almost guaranteed because of the demand here,” she said.