Construction is set to commence on a new, larger and more sophisticated sectional title complex comprising 119 units in Kenilworth, Cape Town.
Average prices at Three Fountains start from R755 000 for a 32 square metre bachelor unit to R940 000 for a 46 square metre one bedroom unit and R1.375 million for a 67 square metre to 71 square metre two bedroom unit.Rawson Developers have moved onto the 6 562 square metre site in Greenfield Road, Kenilworth (above the suburban railway line) and demolition of the double storey apartment blocks erected there some 50 years ago has begun. The site is bounded on the other side by Harfield Road, which is being used to access the site, thereby leaving Greenfield Road residents largely undisturbed.
Carl Nortje, Managing Director of Rawson Developers, estimates that by the end of this month the construction team will be in full swing with the building of the sectional title complex designed to replace the previous blocks. Known as ‘Three Fountains’, the 119 units are set for handover in September 2015.
Three Fountains will consist of two five storey blocks steeped into the fairly gentle slope of the ground so as to give two roof profiles.
Trevor Weston-Green, Rawson Developer’s Property Development Analyst, says from the start, Three Fountains has attracted an amazing amount of buyer interest.
In just nine months since the launch, he says they are already 75 percent sold out without the construction team even moving onto the site, and they now have only 30 apartments left to sell.
Weston-Green says usually sales pick up once the construction stage commences as buyers acknowledge this step as confirming that the development will go ahead. He says clearly, in this case, they have not needed this extra precaution, as they have simply looked at the previous developments that Rawson Developers have completed in the last few years and known that it is a safe bet.
Weston-Green says the exceptionally fast sales rate (probably the fastest in Rawson Developers’ history) has been achieved because buyers were, from the start, aware that the value for money is exceptional. Average prices at Three Fountains start from R755 000 for a 32 square metre bachelor unit to R940 000 for a 46 square metreone bedroom unit and R1.375 million for a 67 square metre to 71 square metre two bedroom unit.
“It has to be borne in mind that this is the first apartment development in this section of Kenilworth for some 15 years, and there was a strong demand for it.”
"The new complex will introduce to the area certain sophisticated elements and chic modern fittings not seen here before and as the majority of its units will have balconies, north facing units will have views of the southern spine of Table Mountain, while those facing south will look across towards Muizenberg."He says many people throughout the Cape Peninsula and further afield have always admired the quiet, treed, well-landscaped atmosphere created by the older homes and sectional title developments in this part of Kenilworth, and it has always been seen as a desirable place in which to live. "The new complex will introduce to the area certain sophisticated elements and chic modern fittings not seen here before and as the majority of its units will have balconies, north facing units will have views of the southern spine of Table Mountain, while those facing south will look across towards Muizenberg."
Undercover and open parking has been provided for all the residents’ vehicles within a security fence and ample visitors' parking has been supplied. There will also be a 24-hour guard stationed at the entrance to the completed development on Greenfield Road, which will improve the security in the area.
Weston-Green says although prices have been kept low, the standard of Rawson Developers’ finishes is high.
“We have, for example, used 600mm by 600mm square ceramic tiles in the kitchens and bathrooms and granite tops in the kitchens. We have also specified that the kitchens in all units will have ovens, hobs and extractor fans and significant power savings will be brought about by the use of heat pumps rather than the traditional electrical systems which are rapidly becoming obsolete.”
For more information on the development, email or call Trevor Weston-Green on 082 783 4393.
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