The first home handovers at Nuutgevonden, a lifestyle development in Stellenbosch, 4km from the town centre, is expected at the end of September.
Apartments sell from R599 000 and the single residential homes from R899 000 including VAT and transfer costs at the Nuutgevonden lifestyle development in Stellenbosch currently under construction.
Apartments sell from R599 000 and the single residential homes from R899 000 including VAT and transfer costs.
Developed by Asrin Property Developers, this is said to be proceeding well and is proving to be one of the company’s most successful projects, says Asrin’s commercial director, Shiraaz Hassan.
Construction began in April on the Nuutgevonden site and it has become a busy hive of activity.
The boundary walls are completed, the construction team is out of the ground on 42 of the plot and plan units and 70 percent complete with the fully sold out sectional title two bedroom two bathroom apartments.
Completion of the first single residential units is expected from the end of August this year and handovers are expected to begin by the end of September.
The sectional title block is scheduled for completion by the builders’ break with occupation dates set for January 2013.
These units are all two bedroom two bathroom apartments with balconies and the upmarket finishes such as ceramic tiles, granite countertops and stainless steel kitchen hobs, for which Asrin is well known, says Hassan.
They have 60 square metres of floor area and are low density - being in four blocks each with a ground, first and second floor.
All north facing units in block A enjoy great mountain views.
Hassan explains that the introduction of a second bathroom made the units ideal for two semi-independent occupiers (e.g. students) and to date the buy-to-let investors are mostly targeting this market.
However, a larger percentage of the buyers so far have been owner-occupiers, the majority being linked to the university in one way or another.
Nuutgevonden will offer green energy saving initiatives such as gas stoves in all the units and heat pumps, which will be fitted to the remaining sectional title apartments.
This water heating technology reduces electrical consumption considerably and has won the support of the local authority in terms of energy saving initiatives, says Hassan.
Asrin is also in the process of construction on a long-awaited four way intersection between the R304 and the Welgevonden Link road on behalf of the Stellenbosch Municipality, this
project will allow easy and safe access into the development and benefit the greater Welgevonden residential estate.
When complete, Nuutgevonden will comprise 192 opportunities. Fifty two of these will be single residential plot and plan homes with three bedrooms.
The development will be the first in Stellenbosch genuinely able to claim that it is a lifestyle village.
It will have safe parks for children, a swimming pool, a clubhouse, outdoor entertainment areas, walking trails, 60 percent of the site will landscaped by professional landscapers and will be enclosed in a protective brick and palisade wall topped with electrified wiring.
In this the public entrance will be CCTV monitored and security staff will be on duty 24 hours a day.
“One of the ways of ensuring that projects of this kind are well managed and increase in value is to have an excellent constitution, which has been approved and will be in place prior to the first handovers and the scheme will have its own homeowners’ association and trustees.”
Hassan says the 85 units of phase one are now all sold out.