|The sold-out signs went up at Westwood Estate last Sunday following the sale of 116 units – the first phase in Spencer Gore Developments’ R800 million housing estate in Westville.|
The units – ranging from R400 000 developer-subsidised one-bedroom apartments to R1,2 million three-bedroom apartments – were snapped up in the launch weekend realising a total sales value of approximately R80 million.
“We were overwhelmed by the response,” said developer Lance Gore. “It proves that there is demand for centrally located, well priced and well finished apartments.
“We released 56 apartments on Saturday morning, but due to massive demand we released the remaining 60 apartments later in the day. By Sunday they had sold out.”
The second phase of the development comprising a similar number of apartments will be launched early next year, followed by phase three later in the year. The final phase of the 30 ha estate will be the launch of town houses and freestanding units towards the end of 2007.
Construction of the first phase is planned to begin early next year with completion scheduled for November 2007.