Luxury Orchards Development bears fruit for all
Category Property News
On 31 May, Minister of Rural and Land Development, the Hon Gugile Nkwinti, participated in an historic Atlantic seaboard sod-turning ceremony on Tramway Road, Sea Point, marking the launch of the upmarket Orchards urban development project on the border of Sea Point, Fresnaye and Bantry Bay, which will benefit a trust fund established for 34 families dispossessed of their land in 1961. "It's a triumph of cooperation between national and provincial government, the Land Claims Commission, the claimants and the City of Cape Town," said Councillor J.P. Smith. Within the last eight months, the Tramway Road Community Trust tabled a sustainable plan reconciling all parties and setting in motion the luxury residential development. In terms of the agreement, a partnership has been created between the Trust, Investec and Novabuild, which has underwritten the loan and agreed to oversee the development and construction of the apartments. "It's the balance of need, skills and savvy that has ensured the success of the project," says Investec's André Theron, while Minister Nkwinti noted that the initiative provided a formula that could be used as a blueprint for other land restitution developments. DG, specialising in luxury properties on the Atlantic seaboard, has been appointed as the marketing agent for the exclusive Orchards development. DG, commenting on the extreme buoyancy of the present property market, reports having achieved neighbouring residential sales of well over a quarter of a billion rands in the last six months alone. The Orchards development occupies 7 500 m2 of prime land, with 75 units on landscaped grounds surrounding a citrus orchard and heated communal outdoor swimming pool. All apartments will be served by an underground parking facility. Architects Stauch Vorster have designed contemporary lines, with units enjoying state-of-the-art, sophisticated finishes and magnificent sea, mountain or orchard views. Additional facilities include Wi-Fi connectivity throughout the estate and a fully equipped Technogym fitness room with Kinesis exercise wall. The residential development has been deemed pet-friendly and is minutes away, on foot, from the beachfront promenade, shops and all amenities, yet sufficiently set back to ensure being an oasis of calm. Project Marketing Director for the Orchards, Ursula Ehrentraut, says that, "Various property types are available, starting at R2,5 million for a one bedroom unit, to duplex maisonettes and penthouses up to R12 million, with their own private pool. This is more than a savvy investment in a prestigious position - it's an investment in an exceptional lifestyle." TripAdvisor, the respected and largest tourist dotcom website for discerning travellers, has just awarded Cape Town the status of "Best City Destination in the World", as voted by its international followers. "This will certainly have a notable impact on property demand for Atlantic seaboard properties," says Ehrentraut. The Orchards is symbolic of a dream that's come to fruition, with land restored, development occurring and benefits being spread among all stakeholders. It's one of the most upmarket projects of its kind on the Atlantic seaboard and has immediately excited off-plan investor interest. The project is anticipated to be complete within 18 to 24 months, with occupation taking place in mid-2013.
Author: Dogon Group Properties