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Phase one of CT project on stream

Property24
Phase one of CT project on stream


Phase one of a Rondebosch development in Cape Town is now nearing completion, and construction of a second phase is due to commence in 2008.



Buyers will take transfer this December.

Phase one of Rondebosch Oaks, which has 150 sectional title units, was sold out in 72 hours when it was launched in February 2007.

It offered bachelor, one and two-bedroom apartments in a price range from R440k to R995k. These vary in size from 26sq m to 70sq m. The smaller units have open plan living and dining areas but in the larger units kitchens are separate.

Henry added that there are now clear indications that renting in this development - which is close to several of Cape Town's oldest schools, the University of Cape Town and the Newlands sports grounds - will be no problem. Even the smallest units, he said, will command a rental of R2,500 per month. He said at this stage it appears that the average price escalation has been approximately 20%.

Henry said work on a second phase of 106 units is expected to start in 2008, but consultation with the nearby residents will first take place to discuss the aesthetics of this phase.

A central open space on the site with mature trees (including a large yellowwood) has been preserved and further extensive landscaping is taking place at present.

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