Hout Bay flats go sectional title and get facelift
A neglected block of flats in Hout Bay, Cote D'Azur, is being restored and the units are to be sold under sectional title.
The original block consisted of 18 two-bedroom units which had the big advantage of being strategically situated on the corner of Victoria and Oxford roads, with easy access to Cape Town and the freeways as well as to the best of Hout Bay's shopping centres, beachfront, restaurants and harbour.
Richard Edwards, manager new business for Nedbank Corporate Property Finance, says the new developers are implementing a thorough renovation and upgrading scheme for both the buildings and the grounds.
Prices in the renovated complex vary from R975 000 to R1.2 million for the two-bedroom units while the studio apartments are priced at well below these levels.
The purchase prices are VAT inclusive and purchasers will not have to pay transfer duty.
In due course the buildings will be extended with a further 16 apartments.
Of these, eight will be studio apartments with 38m2 of floor space, all with their own private gardens. The other eight will be two-bedroom units with 83m2 of floor space.
On-site parking for residents and visitors is provided. the security is being beefed up with new palisade fencing and direct intercom connections by means of which visitors can contact occupants. it has been promised that renovations will be of an exceptionally high standard.
The project will have open-plan itchen/lounge/dining rooms and the kitchens will have granite tops, new stoves, extractors and cupboards.
The two-bedroom apartments have en suite bathrooms, and a second bathroom with toilet, basin and shower.
New lighting has been fitted throughout.
Marketing has been entrusted to Propmark Hout Bay, who can be contacted at 021 790 5900.
Edwards said that the new block would add another dimension to the
residential sector of Hout Bay which, he said, had long been in need
of the kind of better facilities that this development would provide.
Article from: - http://capeargus.co.za/