In the space of just one year, a large expanse of land identified for restitution purposes by the Port Elizabeth Land Restitution and Housing Association (PELRHA), has become one of Port Elizabeth’s fastest growing suburbs.
Two bedroom, one bathroom duets in Fairview Port elizabeth are on the market priced from R680 000.“Fairview is exploding,” says Aaron Cohen, MD of Cohen Property Developments, residential developer in Fairview.
“On track to build 250 turnkey homes ranging in size from around 81sqm upwards in the next 24 months, Cohen Property Developments was the force behind the ’importation’ of the duet to Port Elizabeth from Gauteng when the country’s property market dipped in 2008, having made a decision to bring something affordable and low maintenance to the PE market.”
Its popularity in the area is evident, he says, with more than 40 duets currently under construction by his company alone, and unit sales taking place almost daily.
“Fairview has grown significantly in the last 12 months. The value of the properties being built and sold there is rising, and there’s no doubt it’s one of Port Elizabeth’s major focal points in terms of development,” says
Cor van Deventer, a director of Greyvensteins Attorneys, the conveyancing attorneys for Cohen Property Developments.
“Its easy access to amenities makes it a winner, never mind its value-for-money brick and mortar offerings.”
“And that’s the secret behind the success of the duet,” says Cohen, who still owns the first duets he ever built in Port Elizabeth, and says they’re pouring concrete every day.
The Duet
This three bedroom, two bathroom home in Fairview can be bought directly from the developer. It is on the market for R790 000 - click here to view.Cohen says the reason for its popularity is that it combines the best of townhouse living with freehold housing in terms of reduced building and maintenance costs and heightened security features.
Essentially two separate sectional title residences on a single stand with a shared middle boundary, the duet has undoubtedly brought new affordability to Port Elizabeth’s entry-level buyers.
“Our turnkey duet building packages are amongst the most cost-effective ways of buying a home, aside from the land and cement value, there is also value in that we accommodate people’s personal input,” he says.
“Once buyers have obtained their bond approval, they can design their own homes to an extent, and choose their own finishes. Our only requirement is an approved bond,” says Cohen.
Cohen Property Developments also handles the financing process for buyers, “another huge value-add”, says Cohen.
“All our developments are approved by all the major banks, and they are willing to grant 100% home loans to qualifying buyers,” he says.
“And there’s no deposit required, so there’s no risk to buyers, who get pretty much what they want within limitations.”
Priced from R680 000 and offering quality finishes and individual styling, Cohen says the duets are being snapped up largely by young, up-and-coming professionals wanting to live in a good, stable community with easy access to major roads and economic hubs.
“About 70% of our clients are first-time buyers, with the balance being investors in tune with rising demand for decent rental properties and chasing good capital growth,” he says.
Perfect positioning
Sensitive to people wanting to put their personal stamps on their homes, the turnkey packages are flexible, with various options such as facebrick or plaster exteriors, and a choice of fittings and finishes.“Following on the increasingly popular concept of the live, work, play environment, the suburb has broad appeal with homes ranging in value from under R700 000 to more than R5 million and access to good schools, a hospital, the Origin Health Fairview Hospital in nearby Circular Drive is on track to open in mid-2017, and every imaginable amenity,” he says.
“Fairview is also down the road from Walmer Park Shopping Centre, various gyms, shops, nurseries and petrol stations, everything you can think of.”
Stretching over an area of more than 25 000sqm, he says Fairview is zoned not only for residential development, but also has commercial, light industrial and retail components, which include the upmarket Fairview Business Park and the recently opened Willow Road Shopping Centre.
“It’s also the location of the soon-to-be-opened Fairview Sports and Community Centre, which will comprise a multi-purpose indoor sports facility, playing fields for soccer, rugby, cricket, hockey, baseball and softball and a memory centre. Tennis, basketball and netball courts are also planned for the future,” says PELRHA director Clive Felix.
“There has been a surge in residential and other development in recent months, and the business development along William Moffett has definitely acted as a catalyst for this.”
Pricing
“Fairview is also down the road from Walmer Park Shopping Centre, various gyms, shops, nurseries and petrol stations, everything you can think of.” “We’ve partnered with Cohen Property Developments because we believe in the quality of their work and the company as a brand. They offer a really superior-end product of matchless value and quality. There’s nothing else on the market for R800 000 to touch it,” says Van Deventer.
Duets start from R680 000, which will buy a 81sqm two bedroom home with lounge and dining areas leading to an enclosed garden with built-in braai, a well-fitted, modern open-plan kitchen, full bathroom with shower and bath, and a carport.
At the top end of this market, priced at R997 500, is a 145sqm three bedroom, two bathroom en suite duet with double garage, covered braai area, paving and high-end finishes.
From a ’green environment’ point of view, Cohen says the homes are low maintenance with large aluminium windows and guttering, facebrick exterior options and 200 litre solar geysers with element back-up.
All homes come standard with-fully enclosed back and front gardens, ovens, hobs and fitted extractor fans, floor-to-ceiling built-in cupboards, sliding gates, built-in braais and upmarket floor and wall tiles.
Sensitive to people wanting to put their personal stamps on their homes, the turnkey packages are flexible, with various options such as facebrick or plaster exteriors, and a choice of fittings and finishes.
Cohen, who deals with all buyers personally, says he has three meetings with them. The first is to sign the contract, the second to fit the house to the plot, or what he calls the structural meeting, and the third takes place once the building is at floor level to finalise finishes.
And while the process is usually simple, he says he has worked with some buyers for up to a year to make it possible for them to finally become homeowners.
“I believe that a home is a family’s castle,” says Cohen, who, with his brother Stanley, started the company in 2003, and provides jobs for about 1 000 people at any given time.
“I get such pleasure from watching our buyers coming to inspect their new homes, taking photos from the time we start clearing the plot to the day they move in, waving to us as they drive around. That’s what makes this so rewarding - we’re helping build the future.”
For more information on the development, click here.
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