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Nov 29, 2007:
A R25m affordable residential and commercial complex is to be launched in Grassy Park, Cape Town.
"It will, we believe, set a new benchmark and will initiate the long-awaited upgrade of the area which is now likely to be ongoing for several years. The project will ignite the transformation potential of the whole of Lake Road," says Michael Garvin, project manager.
To be known as the Aashiqually Centre, Haroon Daya, marketing agent, says the new complex will be sited on a 4,100sq m erf bounded by Lake Road, Fourth Avenue and Kleinsmidt Road. The site is ideally positioned for quick and easy access to Wynberg and Strandfontein.
Architect Gordon Hart has evolved a scheme which will comprise three separate three storey blocks, one of which, on Lake Road, will have eight shops of approximately 60sq m each on the ground floor. Many of the apartments above the shops will have good views of Table Mountain's Southern Spine.
"We decided to break with the traditional prescribed configuration for this type of development, where the whole building is normally surrounded with asphalt paved parking bays," said Garvin.
"Instead, the development will accommodate vehicles in a central courtyard and the ground floor flats on Fourth Avenue and Kleinsmidt Road will have private enclosed exclusive use gardens. These will enhance the entire neighbourhood."
The break with prescribed layouts, said Garvin, had delayed the launch of the project by ten months.
Apartment floor sizes are approximately 60sq m and units will all have two bedrooms. There will be 37 apartments altogether in the complex. The upper floor apartments are priced from R460k to R498k. The ground floor apartments with gardens are priced just above R500k.
Garvin says finishes and fixtures will include solid hardwood painted front doors, ovens, hobs and formica countertops in the kitchens and carpets and tiles (of the purchaser's choice) in the living rooms, bedrooms, kitchens and bathrooms. All units will have sliding doors leading, on the upper floors, to Juliet balconies and on the ground floor to gardens.
The external façades of the buildings will be constructed with an attractive cream iron spot face-brick with broad plaster bands around the windows, while the roof will be tiled in charcoal grey "Elite" tiles.
The development will be wired for communal television with the option for the homeowners' association to later upgrade to DStv. Electricity will be supplied via prepaid meters and water will be separately metered.
The entire development will be enclosed with a plastered brick wall topped by an electrified fence. There will be only one controlled entrance to the flats to ensure maximum security.
Daya said he expects to be sold out by February 2008 and R5k deposit is required which will be held in trust until transfer. Conveyancing fees are included in the purchase price.
"On completion even the smallest units here will command rentals of R3 500 per month," Daya said.
For more information contact Haroon Daya on 083 741 9944.