Affordable homes, investment potential in Protea Heights
Brackenfell in Cape Town’s Northern Suburbs will be celebrating its centenary next year – yet in population and spirit it embraces a vibrant youthfulness.
Pam Golding Properties reports that the area is peppered with a number of up-and-coming suburban areas which are providing the perfect starting point for first-time entrants into the property market, and an ideal home for newlyweds and young families. At the same time, the range of properties on offer also incorporates larger upmarket homes, ideal for professional buyers and more mature families.
One of the suburbs best showcasing this range is Protea Heights, situated just south of the N1 highway and east of the R300. The area is well-located for access to a number of business centres, including Cape Town, Durbanville, Bellville and Stellenbosch. It also lies close to several attractive green belts, including the Brackenfell Local Nature Reserve, the Kuils River Golf Club and the outlying farmlands of Stellenbosch. Many homes enjoy views of the Cape Peninsula and/or the mountains of the Boland, while those occupying elevated hillside erven can enjoy a picture postcard view of Table Mountain by day and the twinkling lights of Cape Town by night.
PGP’s area manager for the Northern Suburbs, Maureen Nel, says the suburb offers a wide variety of housing options at very affordable prices. “Entry level prices start at just R350 000 for a one-bedroomed apartment, or R500 000 for a two-bedroomed unit,” she says. “Also particularly popular with first-time buyers and newly married couples are the many attractive townhouses, which start from around R550 000 for a small two-bedroomed unit with a manageable garden, and range up to around R1.1 million for a larger three-bedroomed townhouse with a double garage. Free-standing homes are also available, priced from approximately R950 000 for a smaller home, and anywhere up to R3.5 million for the largest, most elegant mansions. But those wanting a sizable family home need not stretch their budget that far – one can acquire a four-bedroomed home on 750sqm of ground, with a pool, staff accommodation and a double garage, all for under R1.4 million.”
Besides having immense appeal for the buy-to-live market, Protea Heights also holds potential for the investor buyer wishing to capitalise on the rental market, says PGP’s MD for the Boland and Overberg regions (incorporating the Northern Suburbs), Annien Borg. “The suburb’s close proximity to a number of business centres, coupled with the ease of access to public transport, makes it highly sought after by young professionals,” she says, “so it’s no surprise that it has a large tenant base. There is also huge appeal for the student market, given the close proximity to the University of Stellenbosch. Rentals units in Protea Heights can fetch anything from R3000 per month for a one-bedroomed apartment or over R4200 per month for a two-bedroomed apartment. Rentals for a three bedroomed townhouse would typically range between R5500 and R6500 per month, while a three-bedroomed family home with double garage can attract rental income of R6500 to R7500 per month.”
Brackenfell is often described as the Gateway to the Winelands, and residents of Protea Heights enjoy very easy access to the leading farms of Paarl, Franschhoek, Wellington and Stellenbosch, as well as the Durbanville and Kuils River wine farms even closer to their front door. Other convenient amenities include major shopping facilities at Cape Gate Mall, Fairbridge Mall and Brackenfell Hypermarket, as well as private medical care at the Cape Gate Medi-Clinic. The area also offers access to a number of quality schools, including Brackenfell Primary and High Schools, the parallel medium Bastion Primary, and the Paarl School for children with special needs. A new addition to the offering this year (2012) is the Destinatus school, currently in the process of registering as a private, dual-medium Christian primary school. The school offers classes from Grades Pre-R to Five, and intends expanding to offer Grade 6 from 2013.