Rawson Developers latest development in Rondebosch, Rivers Edge, has shown that there is still life in the residential market, says Paul Henry, CEO of this division. In the four months since the new project was launched, the units have, he says, proved extremely popular, with over 80% of the development already secured and the balance still selling consistently.
'The sales have been weighted towards investors but a fairly large percentage are first time buyers and parents securing accommodation for their children attending the tertiary institutions in the immediate vicinity,' said Henry. 'UCT, Varsity College and Damelin are all nearby. The purchaser mix has been similar to that in Rondebosch Oaks, Rawson Developers previous development in Rondebosch.
'The position and pricing of Rondebosch Oaks have attracted a steady stream of enquiries and availability has been consistent since the development was completed two and a half years ago. We are finding that the demand at Rivers Edge is as good as at Rondebosch Oaks,' says Trevor Weston-Green, Rawson Developers Analyst who also heads the sales department.
'Many buyers,' said Weston-Green, 'have been drawn from outside the Cape Town area. We have secured purchasers from countries throughout Africa and further afield, in the UK, Europe and even China. This shows how widely known the Rondebosch area is. Buyers are aware of the increased rental returns that any new development here can provide'
Rawson Developers, said Weston-Green, have used web based marketing to spread the word and drive traffic to the developments website www.rivers-edge.co.za.
'By tracking the source and pattern of buyers viewing the site we have been able to improve the website and ensure that the information is easily accessible,' he said. 'Todays buyers are now technologically savvy and want full information online before phoning and speaking to an agent. This has put us in the enviable position of having some buyers contacting us simply to sign the sales file as they already have done their homework and know which unit they want to secure'
A major reason for the popularity of Rivers Edge, Weston-Green added, is the emphasis on security. Rivers Edge will have 24-hour manned security, entrance control, remote control gates and fingerprint access to the building. It will be only the third development in Rondebosch with a 24-hour manned security, and the only one with fingerprint access.
Rawson Developers are currently extending their investors database for their future developments.
'We have several upcoming developments, details of which we will be notifying the potential investors through this database, prior to their being published in the newspapers,' said Weston-Green.
