Asrin launches final phase of Nuutgevonden development in Stellenbosch

Asrin Property Developers will this week (September 2017) launch the final phase of their Nuutgevonden development in Stellenbosch.

“Particularly exciting,” says Elmarie van Huyssteen (from Chas Everitt), one of the agents marketing this project, “is that there are five freestanding, full title homes as well as sectional title apartments for sale in the last phase, and the pricing is as competitive as one can get.”

Since Nuutgevonden’s launch five years ago, with the occupation of the first units only four years ago, homes here have increased in value on average by 15% per annum. Sixty square metre apartments bought at R569 000 would now sell for around R960 000, while the value of the houses have increased from the initial R899 000 to the current selling prices of R1 550 000.

Many of the apartments at Nuutgevonden were bought by parents whose children attend Stellenbosch University and the majority of remainder of tenants are professionals renting who work at the surrounding wine farms and restaurants. 
This development has done very well, not just in sales and the increase in value, but in demand for rentals or homes to buy, and the scheme is well managed as a whole, said Van Huyssteen. 

There are few opportunities to buy property below R20 000/m² in Stellenbosch now, and this is the last chance for anyone considering buying in this area to be able to purchase anything for under R1 million. There is very little chance that any future development will be able to be as competitive as this because of the shortage of land available in the area, she said. 

There are 62 two bedroom apartments available with average sizes of 60m². These will be in five walk-up blocks two and three storeys high and the building layout is different to the first phases, while the internal layouts of the apartments are very similar to the popular first phase units. There will be a central courtyard with a communal area and parking bays allocated to each unit. Prices of the apartments range from R965 000 to R995 000.

As mentioned above, abutting the apartment phase is a prime residential component with five freestanding homes available in a separate enclave. These are priced from R1 550 000 to R1 650 000 and will have two or three bedrooms, two bathrooms, and a garage included in the price. Home sizes range from 90m² to 100m² and plot sizes from 221m² to 421m² (larger than the initial plot sizes of the other freestanding homes in Nuutgevonden) and are fully walled. Space is at a premium here and these homes are a one of a kind investment, said Van Huyssteen. 

Each portion is access controlled and offers on-site security.

There is an abundant and lush landscaped area along the river bank, which will create a pleasant ‘reserve’ wetland area. 
The finishes in the apartments and freestanding houses are of a high standard, with built in Smeg ovens and hobs in the kitchens, granite (or possibly Caeserstone) countertops, and superior A-Grade ceramic tiles or a choice of laminate wooden flooring. All the units will have solar panel water heating. A major plus is that all units have fibre optic cable availability.
There are many benefits to buying a new home, the most prominent being the five year NHBRC warranty. There is no transfer duty payable and the prices include VAT and transfer fees, said Van Huyssteen. All four major banks have pre-approved 100% finance for pre-qualified buyers.

Construction at Nuutgevonden should commence by February 2018 with completion by December 2018, in time for occupation for the 2019 academic year.

Those who are planning to buy an apartment to rent will have no problem in finding tenants, with envisaged rentals for the apartments possibly being around R8 500 to R9 000 for 2019, said Van Huyssteen.

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