select
|

Affordable new apartments near Midrand Gautrain sell out fast

The first phase of the affordable new apartment development, Birchfield, located in Grand Central near the Midrand Gautrain station that launched about six months ago is just about sold out, says Seeff Sandton/Midrand Projects Director, Glen Fisher. The response was overwhelming and testimony to the demand for affordable homes close to transport infrastructure.

Fisher says that the take-up has bucked the national trend where many new developments are struggling to find buyers. Thorough research and careful planning of the type of homes, price ranges and especially the location preceded the launch, something that he says has been vital to the success. The developers, VHB Developers and Construction have a strong track record of developing fine residential complexes in Johannesburg.

The building work on phase one has commenced. The launch of phase two in January 2014 will see another 45 units available for sale. Phases 3 and 4 will be launched later in the year and completion of the entire project is scheduled for 2015.

The 204-apartment complex is located within Midrand's new urban growth node and aside from the Gautrain station, is within walking distance of major infrastructure such as shops, medical facilities, banks, schools, taxi ranks and bus depots and there are several business parks and commercial centres in the immediate vicinity. Midrand's central position is another major draw-card and means that even buyers that work outside the area have quick access to major transport routes via the New Road and Allandale onramps to the N1, says Fisher. The Grand Central Airport is also nearby.

The apartments range in size from 41,8sqm for a one bedroomed unit to 64,6sqm for a two bedroomed unit. Prices are inclusive of all costs and range between R490,000 and R670,000. The interiors are modern with fitted kitchens and built-in cupboards in the bedrooms. The one bedroomed unit has an open-plan living area and shower-bathroom. The two bedroomed units have an additional dining area and a full bathroom.

One of the key aspects is the top class security that includes perimeter electrification, single controlled access, CCTV cameras and 24-hour linked armed response. It is of course also low maintenance, lock-up-and-go, something for which demand is rising, says Fisher. There is secure under-cover parking for residents and visitors. Open lawn-areas provide space for children to play.

While many have been first time home buyers, Fisher says that the development has attracted significant interest from buy-to-let investors given the high demand for rental accommodation and anticipated rental rates of between R4,700 and R6,000 in the area. While prices are still very affordable right now, we anticipate good capital growth in the short-term given the demand for affordable and conveniently located homes where residents are able to get by without a car. The development also appeals to corporates in the area who need to accommodate staff and visitors.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK