False Bay's coastline has a new face!

THE redevelopment of the Calder's Kings Hotel in Fish Hoek is expected to spark off the renaissance of the South Peninsula's False Bay coastline, an area that has hitherto been undervalued.

This is the belief of André de Villiers, principal of Chas Everitt International's False Bay franchise who was born in 10th Avenue and schooled at Fish Hoek Primary and High. The agency has been awarded the sole mandate to market the new Calders-On-Bay development, with an innovative style described by the developers as, 'Contemporary Cape Coastal '.

Calder's Kings originally built by the Calders family as a hotel was sold on auction in October last year by its last owners, the Salvation Army. The property was bought by Circlevest Properties of Pretoria and locals have been waiting for months to find out what they have planned for the new property.

It has now been announced that the hotel will be transformed into an up market, luxurious apartment block.

The excitement is evident in André de Villiers' voice as he speaks about the redevelopment of the property. "This building heralds a whole new revival for Fish Hoek, what I would like to call the 'renaissance' of the town and the False Bay coastline.

"This development will belong comfortably in any five-star area. It will make Fish Hoek reconsider its own identity, and it's the start of big things to come. I am thrilled about it!"

Circlevest have hand-picked a professional team to manage the transformation of the property from a hotel to an exclusive luxury apartment block. The architects on the project, DG Architects, were responsible for PriceWaterhouseCoopers' head office as well as buildings for Africon and Alexander Forbes.

A total of 14 exclusive and contemporary units will be available, with prices ranging from R875 000 to R2,295 million. The smallest unit is a sizeable 90 m² including balcony, while the largest unit will have a total floor space of 18 5 m² inclusive of balcony.

André says that the asking prices are (deleted) half of what is currently being asked at comparable developments in areas in which such luxury developments are already established. "For the smallest unit at Calders-on-Bay, the price works out to R9 554/m², while the most expensive is R12 807m². This is well below what such luxury apartments are currently selling for elsewhere in Cape Town .

"Even more significant is a comparison between Calders-on-Bay's prices and older apartments that have been recently re- sold in Fish Hoek. The Residential Property Price Ranger for the period from December 2004 to January and February this year reveals that a unit at Outspan Lodge was sold at R12 966/m², while one at Woodside was sold at R10 000/m²." No new levels will be added to the existing hotel's structure, although the roof will be raised to allow for two level loft apartments on the upper floor.

Buyers can choose between one and-a-half bedroom units, two-bedroom units and three-bedroom units, with one, two or three bathrooms. The eight largest units will have storerooms allocated at no extra cost. Four of the units will be situated on the ground floor, a further four on the first floor, and six loft apartments on the spacious second floor. The six loft apartments all have two levels.

The development will also offer a launderette, privately-owned store rooms, individual (deleted) parking and an elevator to the second floor. Finishes will be of the highest standard and the emphasis will be on luxury. The project has a total investment value in excess of R20 million and Calders-on-Bay is expected to be completed by November .

André says that the luxury and high standards of the development will at last do justice to the jewel that Fish Hoek is. "Too many people have done things on the cheap in Fish Hoek and it's a blight on the Valley. My family has lived in Fish Hoek 'forever' and on principle I would not allow my company to be associated with marketing some of properties and developments out there. I travel extensively and have been in real estate for over 20 years and I know the value of what we Fish Hoek and environs have to offer.

"Calder's-on-Bay will be the development that sets a new benchmark for people to put real money into investment this side of the mountain." Calders-on-Bay will be officially launched this week with a function at Clovelly Country Club . For more information on the development or an invitation to the launch , phone Shirley Heydenrych on 083 266 7501 or André de Villiers on 083 230 0549 or the Chas Everitt False Bay office on 021-7841630. A comprehensive website can be viewed on www.CaldersOnBay.co.za

Article by: Chas Everitt International's - False Bay