17 Jul 2013
Russel Peach, residential sales manager at Renprop Residential, says that 90 percent ofThe Link has been sold to date and the last of the 340 units will be completed in December 2013. “There has been a strong uptick in all areas of residential property over the last 18 months, with a marked increase in enquiries from both buyers and sellers.”
In response to the strong demand for sectional title property, Renprop Residential, in conjunction with development partner Space Developments and Standard Bank, is launching Sunninghill’s first and only apartment development, Manhattan on July 18.
The five-storey building, set on a 2ha plot, will provide residents with lift access to the apartments, which are available in one bedroom, one bathroom; two bedroom, one bathroom and two bedroom, two bathroom configurations. Boasting neutral colouring and earthy tones, the open-plan apartments will include top end finishes and fittings such as built-in vanities in the bathrooms, as well as feature walls. Residents can also enjoy the facilities of a clubhouse and rim-flow swimming pool.
Designed with clean, modern lines, the apartment development will cater to up and coming executives who want to live close to the heart of Sunninghill’s business precinct and the Sandton CBD. Priced from mid-R900 000 upwards, apartments are ideally suited to buy-to-let investors or owner occupiers.
Peach says that it is situated in the heart of the business precinct, close to major arterial routes and the Rivonia Road N1 intersection. Manhattan is also close to a number of medical facilities such as the Netcare Sunninghill Hospital, entertainment facilities such as Montecasino as well as shopping centres such as The Core and Sunninghill Village Shopping Centre.
He says there is a shortage of secondhand stock, which is currently driving the demand for well-priced sectional title units, with properties priced in the R800 000 and upward range, the most active and in demand. Some of the properties turn around in less than half the average industry time of 48 days, which is an indication of the level of demand for quality sectional title units.
Debbie Justus, residential re-sales manager at Renprop Residential, says properties that are priced right will sell in the re-sales market in the shortest time, owing to the demand for well priced homes and value for money in certain segments.
Peach says that well located sectional title developments in this region of northern Johannesburg are sought-after and often provide investors who buy off plan good returns in terms of rental yield and capital appreciation. "As such, we are anticipating a high level of interest at the launch of Manhattan,” he says.
For more information, visit www.renprop.co.za.
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