Avenida, a secure estate comprising 64 apartments in the first phase, is to be developed at Burgundy Estate, Cape Town by the Rabie Property Group.
Priced from R850 000 and R995 000 respectively, the one and two bedroom apartments – most of which will be north-facing with balconies and all of which will boast Fibre to The Home providing residents with high speed internet connectivity – will be built in a cluster of three storey blocks maximizing garden and mountain views.
When fully developed, Avenida will also offer wide open spaces with a number of pocket parks and lush landscaping, as well as a host of other communal facilities including a swimming pool and clubhouse, braai facilities and a children’s play area.
Designed by award winning architects, Boogertman & Partners, the development will be fully walled with access control and electric fencing along Tygerberg Valley Road.
Development Director, Miguel Rodrigues, says a stone clad entrance will provide a strong sense of arrival at Avenida setting it apart from other developments at Burgundy Estate.
Apartments will vary in size from 48 square metres to 73 square metres, excluding balconies, while all top storey apartments will have private braai facilities. All apartments will have at least one parking bay or lock-up garage with many also offering a second bay.
Avenida is the fourth development to be undertaken at Burgundy Estate by Rabie Property Group since it joined forces with Nedbank two years ago to complete the up and coming suburb. The first development, Vermont, comprising 190 one, two and three bedroom apartments has been acquired in its entirety at cost of R200m by a private investor for rental stock. Construction of Vermont is being phased with final completion scheduled for April 2017.
This was followed by Zarina, a development of 181 apartments and townhouses of which 157 units have been sold for a total of R173 million. Zarina is due for completion in September 2017. The third development being undertaken by Rabie at Burgundy is the recently launched Springfield project comprising 68 freestanding homes, of which around 30% were snapped up in the first few weeks of being launched with strong interest being shown in the remaining units. Construction of this development is due to start in the first quarter of 2017 with completion scheduled on a phased basis between Spring 2017 and April 2018.
Rodrigues said construction of Avenida, which will comprise a total of 183 apartments when completed, is due to start in January 2017 with completion of the first phase scheduled for February 2018 and the entire development within the third quarter of 2018. The total development cost will be in the order of R235 million.
Avenida will be launched over the weekend of 15 and 16 October from the Rabie Sales Centre in Burgundy Estate.