The huge commercial investments being made in key nodes in Bedfordview and the surrounding industrial areas are giving the local residential property market a welcome boost.
This newly-built home in Bedfordview has four en suite bedrooms, a home theatre and staff accommodation, as well as a guard gate for additional security. It is on the market for R18.75 million - click here to view.This is according to Mike Dobbin, owner of the local RealNet franchise, who says new factories, warehouses, offices and retail venues are being built on the doorstep of Bedfordview in the Greenhills Industrial Estate and Meadowdale, while existing shopping precincts undergo multimillion-rand upgrades.
He says this bodes very well for the local residential market, and they are already seeing record prices being achieved for top quality properties here.
“We are also seeing many more high-end properties being placed on the market now, such as a newly-built home priced at R18.75 million, for which we have an exclusive mandate.”
The huge Eastgate mall, which is Bedfordview’s premier shopping destination, will shortly be expanded to include an IMAX Theatre, two new Cine Prestige theatres and new SterKinekor theatres, as well as a huge new Edgars store, says Dobbin.
“In addition, the soon to be launched Oriental Shopping Centre in Bruma will bolster the already considerable Chinese community in Bedfordview, which also has large Italian, Greek and Lebanese communities.”
A newly-launched development in a sought-after part of Bedfordview is offering four bedroom, four bathroom cluster homes from R7.25 million - click here to view.He says these diverse communities contribute to a vibrant cosmopolitan ambience with many tennis, bowls and social clubs, and a multitude of top eateries.
Bedfordview also offers many open spaces like the Vodacom Driving Range and Gilloolly’s Farm, as well as one of the biggest Virgin Active gyms in SA.
Dobbin says another very strong driver of the local property market is the presence of excellent schools, including St Benedict’s for boys, St Andrew’s for girls, Bedfordview Primary, Leeuenhof, Saheti, Bishop Bavin, Redham House and Bedfordview Christian School.
While Bedfordview is almost fully developed, he says there are still a few property development opportunities.
“We are seeing a trend of developers building six to 12 cluster homes on one site, offering luxury accommodation with the emphasis on ‘green’ technologies and security.”
Typically, he says these clusters range in size from 350sqm to around 600sqm, and are priced from R4.5 million to R7.65 million, which is a sure sign that Bedfordview is once again attracting a more affluent category of buyers.
“These buyers see Bedforview as the ‘Sandhurst of Ekurhuleni’, and don’t in any way consider luxury finishes such as marble countertops and bathrooms as overcapitalisation.”
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