The past eighteen months have been challenging for developers and investors. During this period, the industry has experienced Covid-19 and its subsequent lockdowns but despite this all, the Fresnaye area within the Atlantic Seaboard has experienced the highest capital appreciation in the country, estimated at 34%.
“This new finding underpins the desirability for a prime location and a scarce offering, regardless of external economic factors that come into play” comments research and marketing partner, Stefan Botha, Director of Rainmaker Marketing.
Considering the rise in demand in this desirable location, the Station House Sea Point development has achieved remarkable sales success to date at R330 million worth of sales since its launch in early March 2021.
Full funding has been secured with construction now underway and set to complete on time to deliver a unique product to investors. As a result of this milestone, the developers, Berman Brothers, in partnership with D2E Properties, have announced additional two-bedroom options.
“We are thrilled that we have not only outperformed any residential development of its type on the Atlantic Seaboard, but we have also achieved our presales target. This has resulted in our finance facility with Investec Bank being unlocked” shares Paul Berman, CEO of Berman Brothers.
“Investec is excited to partner with D2E Properties and Berman Brothers in making Station House a reality, a truly unique, on trend and market leading lifestyle offering in Sea Point” says Jerome Passmore, Regional Head of Investec Private Banking, Western Cape.
The success of the development is testament to the demand for a residential offering of this nature, which is unheard of in South Africa. Station House allows buyers to have they require within one secure address, from a safe covered parking and full 24-hour surveillance to an off-street supermarket, deli, rooftop restaurant, pool and bar, gym, workspace, and social facilities.