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New Kenilworth estate homes
Category Property News
The growing appeal of low maintenance community living coupled with high levels of security has seen demand for homes in secure estates increase in recent years, with these properties now accounting for around 15% of the entire property market in South Africa.
However, with the average price of these properties being nearly three times the national average for a freestanding house according to Lightstone data, they are increasingly priced beyond the reach of most beleaguered budgets, especially in sought-after areas like Kenilworth in Cape Town.
This is why the latest offering in this suburb is attracting keen interest, say Ruth Leach and Anne Goddard of Lew Geffen Sotheby's International Realty.
"Salisbury Mews is in a tranquil, tree-lined street, with just six contemporary freehold townhouses for sale off-plan and, although building is only due to commence in June, four units have already been sold," say the agents.
"These homes are a rare investment opportunity as they offer excellent value in a high value area, with the lock-up-and-go-convenience of an apartment and the relaxed lifestyle of a spacious house."
Units are priced between R4.16 million and R4.78m plus VAT, with no transfer duty payable.
"Designed with privacy in mind, the units have generous ground floor open plan living spaces that flow out to secluded patios and compact gardens. Gourmet kitchens are fitted with Smeg ovens and all three luxurious bedrooms upstairs have en suite bathrooms."
Other features include solid engineered wooden floors by Oggi, pebble vent-free fireplaces, double garages and security including electric fencing, cameras, aiphones with camera recognition, security beams and infra-red internal alarm systems.
"According to Lightstone data, the average sale price of freehold homes in Kenilworth for the past year ending April 30 is R6.994m, which makes these luxurious homes exceptionally well-priced," says Claude McKirby, southern suburbs co-principal for Lew Geffen Sotheby's International Realty.
"They are also a considered investment as secure homes in prime locations will always attract investor interest, especially those priced below R10m.
"When demand outweighs supply in desirable upmarket suburbs, investment almost always yields exceptional returns - irrespective of market conditions - with properties in secure estates being especially liable to significant capital growth."
"Convenience is increasingly topping buyers' wish lists," say Leach and Goddard, "and in Kenilworth everything residents could possibly need is virtually on their doorsteps: from a choice of top class shops, popular eateries and first-rate medical facilities to a variety of outdoor activities and sports facilities.
"And, with the huge upgrades currently under way in Kenilworth, including a host of new shops and amenities, the node is developing a 'village' feel and residents will soon be able to walk to all their favourite venues in the new shopping hub, including a brand-new Pick and Pay, Knead Bakery, Bootleggers, Sorbet and Wine Concepts.
"The suburb's central location also places it close to all the schools in the area as well as Claremont and Constantia.
Salisbury Mews is due for completion in April 2020.
Author: Lew Geffen Sotheby's International Realty