NottingHill, a sectional title development situated in Ferndale, Randburg where the iconic Velskoen Drive-In was once located, is ideally suited to first-time homebuyers and investment buyers who are looking for an excellent return.
Chris Renecle, MD of Renprop, points out that Ferndale is a sought-after area as it offers easy access to a wide range of amenities, business hubs and major road networks. “This makes it ideal from both a residential and business perspective, which is evidenced by the fact that property in the area tends to sell relatively quickly. Even thought Ferndale is ideally positioned, property within the suburb has still remained affordable, which has contributed to the area’s popularity among buyers, especially first time buyers,” he says.
NottingHill, which consists of 360 sectional title units ranging in size between 40m2 and 65m2, is one of the best priced residential developments in the area. Russel Peach, Divisional Manager of Renprop Residential Projects, reports that it has been exceptionally well received among buyers. “NottingHill is over 70% sold out and there are now less than 100 units still available for purchase. The one-bedroom units are completely sold out, and the two-bedroom units available are priced from just R780 000.”
The development offers its residents all the benefits of secure living in a convenient location with a range of facilities including shopping centres, medical facilities, good schools, sporting clubs and gyms, among others, nearby. Units are fibre ready and the complex provides 24-hour, access controlled security, a clubhouse, a children’s play area as well as a communal swimming pool and tennis court that residents may make use of.
All of the units have been completed with contemporary finishes. Construction is complete and the units are ready for immediate occupation.
“NottingHill remains an attractive property purchase option – whether buyers are looking to reside there themselves, or from an investment perspective - as it has a financially sound body corporate with low forecasted levy increases, which is an exceptionally important element to consider in any sectional title purchase,” says Renecle. He explains that sound financial management of a complex is essential to ensuring that it is well-maintained, which will in turn ensure that the properties have a much better appreciation potential and will therefore be a good investment option for buyers.
Investors have further been attracted to purchasing units within NottingHill for buy-to-let purposes as it offers a high rental yield in a well located, fast growing node.
As a special offer on the last few units available, all new purchasers receive 12 months free levies included in the purchase price.