|CAPE-TOWN-based national property group Pinnacle Point Holdings reports a 43 percent of sales target valued at R43 million in a three-day burst of its Wesselheim Secure Lifestyle Estate in Bethlehem.|
The estate, which was launched last week, is the first by the company in the Free State.
The multi-million-rand development overlooking Loch Athlone forms the latest link in the Pinnacle Point chain that has seen the group transact more than R1bn in sales in the past two years and bring to the market investment properties in Mossel Bay, Clarens, Port Elizabeth, Romansbaai and Pietermaritzburg.
Being developed on farmland previously under Highveld grass and eucalyptus groves, the 45ha Wesselheim estate includes 222 free-standing stands and five medium-density townhouse developments. Land sales range from R250 000, on ground gently undulating down to Loch Athlone from a flat hilltop area dominating the central portion of the site.
Principally aimed at current homeowners wanting to relocate and local farmers requiring the security of estate living near town, Pinnacle Point Holdings CEO Ashley Stone anticipates the developments will be buyers’ primary homes, meeting the growing demand for secure estate living in Bethlehem. The estate includes a clubhouse with two tennis courts, squash courts, bowling greens and a fitness centre. The surrounds provide cycling and jogging tracks interspersed with exercise areas, while Loch Athlone provides opportunities for speed-boating, yachting, water-skiing and fishing.
The guardhouse will be manned around the clock for maximum security. Ownership includes membership of the nearby Clarens Golf and Trout Estate.
Construction of bulk services is to begin early next year, taking a year to complete. Buyers have two years after transfer to start construction and another year in which to finish.
Pinnacle Point Holdings’ portfolio includes the flagship Pinnacle Point Beach and Golf Resort at Mossel Bay-based, Clarens Golf and Trout Estate, the Romansbaai Beach and Fynbos Estate, the Wedgewood Village Retirement Golf and Country Estate (PE) and the Elephant Hill’s Residential Estate (PMB).
Stone said the company had, in the past two years, become the largest golf course developer in South Africa, developing numerous lifestyle estates like Wesselheim while maintaining strict adherence to environmental sensitivity.
“Entrenched in Pinnacle Point’s corporate strategy is a long-term commitment to upliftment in every community in which we are involved. Our future as a nation depends on business working hand-in-hand with local communities,” Stone said.