An unusual Atlantic Seaboard development
- 25 Nov 2011
The Orchards – so named because nearly half of the property will be devoted to the planting of citrus trees – is situated on the last piece of available land in the area large enough for a residential development of this nature.It will comprise a combination of apartments, townhouses and penthouses, together with a variety of upmarket communal features, all within a walled setting that offers high-tech security. As such it will appeal equally to those seeking a carefree luxury lifestyle as it will to non-Capetonians looking for an investment opportunity in one of the country’s most sought-after areas.With apartments on offer from R2, 5-million - which is very rare for the area - it is apparent that the developers have employed a realistic and competitive pricing strategy that takes into account current market conditions. And investors who buy off-plan at current prices, and put down their deposit, will not only enjoy a wider choice of apartments, lay-outs and finishes, but may well benefit from any upside in the property market when the development is completed in mid-2013.The Orchards development enjoys the financial backing of Investec, in partnership with the developers, the Nova Group. Internationally renowned architects Stauch Vorster are responsible for the design of the development, which is being marketed by leading local agents, the Dogon Group.Sarah Smith of the Dogon Group describes the development as unique, given the shortage of further land available for any similar development in the future.“The only other comparable property in the area is The Avenues in nearby Fresnaye, which comprises a number of walled townhouses. As a ‘security village’, The Avenues, which was built in the early 1980s, has enjoyed enormous popularity, with investors having enjoyed returns several times higher than their original investment. Even in the current market, units seldom become available in The Avenues, and when they do they are quickly snapped up.“The Orchards is the modern-day equivalent of The Avenues, and apart from state-of-the-art security, offers modern finishes and a range of 21st Century facilities, which include heated swimming pool, fitness centre, concierge service and of course the environmentally-friendly orchards themselves,” she says.Upon completion the complex will consist of 75 units ranging from 1 bedroom apartments to duplex townhouses, some of which will have their own private swimming pools, to luxury penthouses that will enjoy sea views. Within walking distance of shops, amenities and the beachfront promenade, the development is nevertheless sufficiently set back to ensure privacy and exclusivity.“The Orchards ticks all of the boxes in terms of current trends regarding property developments, and at current prices, it offers real value. With excavations having already commenced on the property, the development is now ready to go to market, and we anticipate significant interest and high demand,” she said.