New Apartment Development in Vredehoek

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04 Mar 2013

Vredehoek is becoming one of Cape Town’s most sought-after and desirable areas to live as a wave of urban renewal refreshes and re-energises one of the city’s best-kept secrets.

An artist's impression of the latest venture in St James Street, called The Outlook, which will surpass the high standards set by prior developments, Horizons and Altino.

With a new MyCiti bus route serving the area and Table Mountain on its doorstep, Vredehoek is also benefiting from the upgrading of several old residences into modern apartment complexes, with lifts and parking, by Signatura, John Rabie’s private label brand.

Signatura, the brainchild of John Rabie, has sold-out two developments: Horizons and Altino, both in St James Street. Horizons achieved the highest price ever for a penthouse in the area and Signatura’s newest venture is called The Outlook and will surpass the high standards set by Horizons and Altino, says Rabie.

He says homeowners want to live in the area because it is close to town and has views of the mountain, harbour and city lights. "Its cosmopolitan vibe and little restaurants, bars and quirky shops echoes that found in areas of Sydney, London and New York City, which are also undergoing renewal since being built about 60 years ago."

Rabie says the Outlook reflects the changes in the way people live. It consists of four two bedroom, two bathroom apartments and a three bedroom penthouse, and all come with views. They've added a lift and a secure parking garage with two bays per apartment, which Rabie says are amenities that no other block offers. By working carefully with the architect Juan Bernicchi, they have situated the building to accommodate on-site parking for 9 cars, which is a rarity in the area. The project will be a secure development that is pet friendly and offers a braai and entertainment area for residents.

Each apartment will have a terrace and some have front and back gardens. He says they have found that modern buyers and young professionals want the security and convenience of a lock-up-and-go lifestyle but also want to take advantage of Cape Town’s summer by having a sizeable outdoor area. "Homeowners are no longer content with a tiny balcony or with parking in the street,” he says.

A unit of 87 square metres with a terrace of 47 square metres is priced at R2.85 million, while a 78 square metre apartment with a terrace of 23 square metres is selling for R2.595 million. There are two apartments with small gardens,  one of 100 square metres with a terrace plus  garden area of 48 square metres priced at R3.595 million and the other priced at R3.55 million spanning 100 square metres with terrace and a 42 square metre garden. The biggest unit of 154 square metres, with a 48 square metre terrace is priced at R4.65 million.

Rabie believes that Signatura has sold out its previous two developments in record time – Horizons within two weeks and a waiting list accumulating for Altino before it was publically advertised – because it has hit the sweet spot of property development.

“Globally, there is an uptick in the property market as investors slowly recover their confidence," he says, adding that buyers are taking longer before deciding to spend and are looking for value for money, return on investment, long-term saleability and the overall lifestyle package.

Rabie says Signatura’s design, affordability, attention to detail and facilities like parking, gardens, attractive living areas and a lift in The Outlook meld with Vredehoek’s position and all that it has to offer.

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