IMPRESSIVE PLUMSTEAD HIGH SECURITY BOUTIQUE APARTMENT COMPLEX LAUNCHING ON 2ND AUGUST

Those pessimists who think that the Cape residential property community has beaten a retreat and headed for the hills may be surprised to learn that Anne Porter Knight Frank, the Claremont headquartered estate agency, have been given a sole mandate to market a new 15 unit, three storey complex in Upper Plumstead – and that the initial response has been encouraging, even though the project has yet to be launched.

 According to Lanice Steward, MD of Anne Porter Knight Frank, the design of this development has already earned high praise from those who understand these matters.

 The developers are the respected building contractors Justclaire.  To be known as Villa Riche, the project will be launched on 2nd August.  It is sited in Staines Road, above Main Road, on the Constantiaberg mountain side, an area very definitely considered, said Steward, to be the most prestigious part of Plumstead, said Steward.

 The building will have two ground floor units and four exclusive duplex penthouses in addition to a further eight two bedroom and one single bedroom duplex with inter-leading staircases.  Floor sizes will vary from 55m2 to 71m2.  All units will have balconies and while the majority of these will be small those attached to some of the penthouses will be as large as 32m2 and ideal for entertaining.

 Most of the units will enjoy “knock-out” views of Constantiaberg and the back table of Table Mountain.  Steward said that the design by architects Raubenheimer and Harvey is pleasingly modern, with the façades having varying colours and protruding and recessed sections, while the aluminium framed windows and full length glazed doors are neatly framed in white plaster mouldings.  On-site parking will be provided for vehicles on a ratio of two per penthouse and one per normal unit.

 A very clever aspect of the design, said Steward, is that it has almost no corridor space, the duplex flats being accessed from the first floor level by their own staircases and the living, dining and other areas being largely open plan.

 Additional advantages of the development, said Steward, are that it will offer excellent security.  The building will be enclosed by a high wall with electric fencing and the site is within easy walking distance of many retail centres, other useful facilities and public transport.  The Constantia Shopping Centre is just a stone’s throw away.

 Prices start at R900,000 and rise to R1,3 million for the most luxurious of the penthouse suites.  These prices, said Steward, are exceptionally good value for quality apartments and are inclusive of VAT and conveyancing costs and as the buyers will not be taking transfer until mid-2009, they represent exceptional value.  By then, she added, the market is likely to be moving upwards and Steward quoted the ABSA report of 15 July which said that “the second half of this year and 2009 will be the time to buy property, especially from an investment and buy-to-let/rental point of view”, because residential property will by then be giving good returns.

Anne Porter Knight Frank’s agents handling the project are Neava Enslin (083 501 9179) and Wilma Vorster (083 558 7199).