Construction at Sunrise Villas, the Multi Spectrum Property (MSP) Group’s latest development in the coastal suburb of Muizenberg in Cape Town, is on track for completion in June 2010.

Designed by architects Jacob Walters & Associates and built by MSP Construction, the apartment complex, with an estimated R45-million building cost, comprises six blocks of four storeys each. These will house a total of 147 apartments, including studio, one-, two- and three-bedroom units, and two penthouses. A clubhouse with swimming pool and entertainment area will also be provided.

The development, which occupies a prominent position on Sunrise Circle, just a few steps away from Muizenberg beach, is being built on 14,857sqm of previously vacant land. The property is one of the last remaining seafront sites on the Muizenberg coastline, according to John Coetzee, MD of MSP.

Coetzee says that while seaside living is usually reserved for a privileged few, it has been brought within reach of middle-income earners at Sunrise Villas, where prices range from R749 900 for a one-bedroom unit to R1 139 900 for a two-bedroom loft apartment with entertainment patio.

Buyers have responded so positively that only 50 of the units remain to be sold, he says. “The apartments have been purchased predominantly by local buyers, but we have also sold to South African expatriates, now living in the UK, who want an investment buy or holiday apartment.”

Coetzee adds that a recent study by online data resource SA Property Traders Guide (SAPTG) showed that the average price of beachfront units in Muizenberg is R900 000, compared to Big Bay at R1.3-million and Bloubergstrand at R1.03-million.

“Probably the most interesting revelation in SAPTG’s suburbs trend report is that, compared to its West Coast counterparts, Muizenberg has, by far, shown the most positive growth trend over a five-year period,” he says.

“While sectional title unit prices increased by 11.15% - 11.3% in Big Bay and Bloubergstrand, Muizenberg has had a 24.43% growth rate over the past five years.”

The apartments at Sunrise Villas, many of which will have views or partial views of mountain or sea, range in size from 44sqm for the studio apartments to 76sqm for three-bedroom apartments.

Occupants of the ground floor apartments will also have the use of individual garden areas of 20 – 30sqm each. Some of the apartments will have balconies, spacious enough for outdoor entertaining, leading from the living room through sliding doors, and the penthouse apartments will open onto patio areas.

All the units will have open-plan kitchen, dining and living areas. Fully-fitted kitchen cupboards with granite countertops, and stainless steel ovens, hobs and extractors will be provided as standard.

Each apartment will have a modern bathroom, with those in the two-bedroom units featuring both a shower and a bath. The penthouses, which will have three and four bedrooms respectively, will boast an en suite bathroom to every bedroom.

To help buyers make the most of their living space, the developer has appointed an interior decorating company to offer all Sunrise Villas owners a professional yet affordable service, if required. Coetzee says tailor-made interior decorating solutions will range from R50 000 for entry-level options to R150 000 for high-end luxury options. “These solutions will include hard and soft furnishings, kitchen and electronic equipment, window treatments, and full home and kitchenware packages. They are particularly useful for investment purchasers needing a hassle-free turnkey solution.”

In addition, all the apartments will be equipped for high speed internet and DSTV, and a covered parking bay for each unit will be included in the price. Visitors’ parking bays will also be provided, as will 28 single garages that can be purchased at R50 000 each.

Sunrise Villas will be set in landscaped gardens, consisting of indigenous Strandveld fynbos vegetation, with braai facilities available for residents. A perimeter wall and a guardhouse will be erected. The latter will be manned around the clock to monitor access into the development and ensure security, he says.

The MSP Group, which comprises MSP Developments, i-Mortgage, Point Guard Financial Services and Axis Technologies, among others, has been responsible for many successful sectional title residential developments in South Africa.

Coetzee says the group has played a pioneering role in driving the rejuvenation and redevelopment of Muizenberg, an area close to nature reserves, the Kalk Bay and Simonstown harbours, golf clubs, wine routes, beaches and other amenities. MSP has become a leading developer in Muizenberg, and already has various sectional title developments in the area, he says. - Impti du Toit

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