Speaking last week at the official launch of Asrin Property Developers Melkbosch Village, a R500 million, 461 mixed residential development on a 13,5ha site on the eastern side of the historic Cape West Coast village, Melkbosstrand, Tony Clarke, MD of Rawson Properties, whose Melkbosstrand franchise has been mandated as sole marketing agents of the new village, said that 85% of the units in phase one, i.e. 145 units of 171 units in all, had already been snapped up by the evening of the launch. Sales were concluded by David and Anne-Marie Evans, Rawson Properties Melkbosstrand franchisees, supported by their sales team.
Shiraz Onia, Asrins Sales and Marketing Director, says he had not been surprised by the very quick take-up, considering the well run campaign around the Melkbosch Village launch, headed up by his marketing team Shiraaz Hassan (marketing manager) and Tasneem Rabin (marketing executive).
Asrin CEO, Mr Ishmail Essa said, 'Melkbosstrand has always been a highly sought after residential area with a rustic country atmosphere. Land for development here has for many years been non-existent and the prices that we are able to offer at this village have not been seen for several years, Melkbosch Village offers investors a product selling relatively lower than what our current market dictates'
The development will consist of 202 apartments and 159 freestanding homes and will have 2,000m2 of retail space.
Prices in this initial phase range from R599,000 to R1,055,000. The 60m2 apartments will all have two bedrooms, while the 93 m2 to 150 m2 freestanding homes are priced from R799,000.
Phase one, with 83 homes and 88 sectional title units, is scheduled to come on stream mid 2008 and completion on this phase in anticipated on or before December 2008.
Phase two, with 114 sectional title units and 47 freestanding homes is scheduled for completion on or before December 2009.
Speaking at the launch, Gaff Khan, Asrins Executive Director, said that this is a pioneering breakthrough development because Asrin have invested an approximate R10 million into Social Housing suitable for previously disadvantaged residents within the Melkbos area. This initiative was proposed by the City of Cape Town and fully supported by Asrin. The practice, he added, is in line with similar policies adopted in the USA and the UK, where rapidly rising building and land prices had made home ownership difficult for the less affluent sector. He gave his 'total' assurance that the Social Housing units, would not detract in any way from the aesthetic appeal and value of the development as a whole - their roofing and fa§ades and external finish will, in fact, be similar to that of Melkbosch Village.
David Evans said towards the end of the launch evening that, in his opinion, any buy at Melkbosch Village must represent an excellent investment because, as mentioned, land in this precinct remains in extremely short supply and even redevelopment opportunities are scarce.
