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HALF THE APARTMENTS SOLD IN NEW DEVELOPMENT IN ILALA RIDGE, UMHLANGA

“The fact that these sales in ‘Bahia Club’ have been concluded in recent months at a time when the property is still in the early stages of recovery is indicative of the high desirability of Ilala Ridge, which has become well established as a haven for those seeking a quiet, convenient and secure lifestyle in very appealing surrounds,” says Schenk.

Bahia Club is a multi-phased development with the first two phases comprising Santana, a block of 24 one, two and three bedroom apartments, and Salvador, a block of nine units with two and three bedroom apartments – the latter all with sea views.  

Priced between R895 000 and R1.97 million (including VAT), the units range in size from 50-131sqm and include balconies and either one or two undercover parking bays. All the apartments are built to a high standard with quality finishes such as porcelain tiles. Services are already in place and construction well under way, with occupation anticipated around August 2011. Provision has also been made for a clubhouse and pool area.

Says Schenk: “Easily accessed off Umhlanga Rocks Drive, Bahia Club is ideally positioned just five minutes’ drive from Gateway shopping centre, La Lucia Mall and Crawford School. Umhlanga hospital is nearby as is the fast growing Umhlanga business node and La Lucia Office Park complexes. In addition, the new King Shaka International Airport is a quick 10 minute drive.

“Designed in the airy, spacious Floridian style of the area, and with gated access and 24 hour security guards, Bahia Club provides the peace of mind of estate living together with the convenience of a lock-up-and-go apartment.  But one of the key attractions is the value for money.  Ilala Ridge is very well established with an upmarket and private ambience, and many of the properties have sweeping valley and sea views.

“Pam Golding Properties has successfully marketed several developments in the area and can attest to the value for money of Bahia Club. Some five years ago prices in Ilala Ridge were for example, R1.3 million for a 134sqm apartment ie approximately R10 000 per square metre. Now the same property would fetch R1.8 million, despite the slowdown in property values. Another example is a development in Ilala Ridge called La Palma Terraces, which has seen prices almost double in price over eight years. In comparison Bahia Club’s prices of R15 000 to R16 000 per square metre represent excellent value in today’s market,” says Schenk.

Enjoying the cool sub-tropical breezes from its elevated position, Ilala Ridge is favoured by investors and end-users alike. This includes a broad spectrum of buyers from the younger set seeking a safe environment for the family to mature couples wanting a convenient, trouble-free, lock-up-and-go apartment.

Adds Schenk: “This new development also offers sound investment return for the buy-to-let market. This area is much sought after for rentals and investors can expect around R5000 per month for a one bedroom and R6500 for a two bedroom apartment.”

For further information contact Pam Golding Properties Umhlanga on 031 5615300 or email umhlangarocks@pamgolding.co.za.



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