Major trend to apartment living sees units in Infinité development in Bedfordview snapped up prior to launch
A strong market demand for secure and convenient, upmarket living in Bedfordview in Johannesburg has seen 50 units in phase one already snapped up through Pam Golding Properties ahead of the official launch of Infinité, a major 10-storey, 200-unit sectional title apartment building in a prime site on the corner of Nicol and Bradford Roads.
Located directly opposite Eastgate shopping centre, this is the first high-rise development of its kind in Bedfordview. Existing sectional title apartment developments are few and far between, being in the region of five levels, with Infinité being the first 10-storey project launched in the area. The development includes a swimming pool, clubhouse with kitchen, gym and two meeting rooms, plus a lobby with concierge.
The luxurious and modern design of the building takes its inspiration from the mathematical infinity symbol, with clean, lucid lines and flow and generous use of glass to capitalise on the scenic views and maximise natural light, particularly on the north and south facades.
“The uptake of this ideally positioned apartment development is exceptional and we anticipate a quick sell-out of the first phase as we are currently dealing with a further 40 buyers,” says Dave Coutinho, development manager of the special projects division of Pam Golding Properties Johannesburg East.
“We have received a tremendous response via the Pam Golding Properties website, where buyers have already reserved their units pre-launch. With its close proximity to OR Tambo International Airport, we’ve received enquiries from a mix of local career-minded men and women seeking lock up and go living and a sound investment, as well as those from elsewhere in Africa, with one buyer already from Kenya. Others are downsizers wanting a more compact residence in a great location – a trend increasingly evident worldwide.
“Notably, with potential monthly rentals from R7 500 up to R13 000 and even R36 000, we are seeing some investment buyers acquiring four units at a time.”
Says Dr Andrew Golding, CE of the Pam Golding Property group: “This luxury new development is set to markedly change the face of Bedfordview’s residential property market. The immediate response from the marketplace speaks volumes, underlining the increasingly high demand for apartments, as the bulk of existing residential property in the area comprises freehold.
“Situated in a thriving hub only 12 minutes from OR Tambo Airport and its Gautrain Station, and close to highways, good schools, restaurants and numerous other amenities, this contemporary designed project will set a new benchmark in modern living, catering for a huge demand for secure and convenient sectional title accommodation in the burgeoning and affordable East Rand. One of the key attractions is the spectacular view on both the northern and southern side of the building.
“An affluent and primarily residential suburb catering for a wide variety of home buyers, property investors and tenants, Bedfordview offers easy access to major transport routes, including the M1, N12, R24 and N3 as well as excellent shopping facilities which in addition to Eastgate include nearby Bedford Centre, which is in walking distance, and Parkmeadows Shopping Centre. There are also hospitals and sports facilities in the vicinity, such as golf, tennis and bowling.”
Each with a terrace/balcony, the units in Infinité offer exceptional value for money, given the prime location of the site and quality of the development. Prices start from R890 000 for 40sqm one bedroom, one bathroom studio units, from R1.19 million for 40sqm ground floor units with exclusive use gardens of 25-62sqm, from R1.075 million for 52sqm one bedroom, one bathroom units, and from R1.595 million for 79sqm two bedroom, two bathroom apartments, with loft penthouses selling from R2.97 million for 100sqm with two bedrooms and two bathrooms and from R4.49 million for 144sqm with three bedrooms and three bathrooms.
Each unit includes a Bosch fridge, freezer, gas hob, electric oven, convection hood, dishwasher, washing machine and quality finishes throughout, as well as hansgrohe fittings and high ceilings. The development is pet friendly, with small dogs allowed.
The development includes 383 secure parking bays over three basement levels catering for tenants and visitors and state of the art, 24/7 security. The three homes which were previously located on the site were demolished some nine months ago and construction of a one bedroom, one bathroom show unit has been completed as well as a spacious on-site office with a large scale model of the development, where Pam Golding Properties agents are based.
The project has been launched by respected property developer Baojin Chen, chairman of Fatasy Property, recognised for developing the Adriana in Sandton as well as the successful, 28 666sqm mixed use development, Crown City in Crown Mines.
Says Chen: “The area to the east of Johannesburg is rapidly growing in popularity among home buyers, being in prime position within easy reach of the city centre as well as being central to Sandton, Rosebank and Melrose Arch. The demand already being demonstrated for this exciting new development is underpinned by the increasing popularity of the appealing, leafy area of Bedfordview coupled with all the fundamentals which attract home buyers and investors, namely location, convenience, quality and the very real potential for sound capital appreciation.”
According to Lightstone statistics Bedfordview is a high-income suburb with a predominant LSM (living standards measure) of 10. Average selling prices in 2015 were R3.51 million for freehold and R1.25 million for sectional title property.
Based on actual sales in the marketplace from 2010 to 2015 year on year growth saw property values increase by 21.1 percent for freehold and 25.1 percent for sectional title, while for the 10 year period from 2005 to 2015 residential property values reflect a whopping year on year appreciation of 89.8 percent for freehold and 93.5 percent for sectional title.
Interestingly, from June 2015 to July 2016, 44 percent of buyers in this upmarket suburb were in the age group from 36-49 years, with 24 percent of buyers aged 18 to 35 and a further 24 percent from 50 to 64 years of age.
Infinité is designed by AMG Architects, a leading contemporary design firm which has been involved in a broad spectrum of property developments including those comprising numerous upmarket residential units in sought after locations in Johannesburg such as the 600 unit Sandton Skye in Sandton, and a number of successful retail and office developments – including two 4 star Green Star rated office buildings in Pretoria and Sandton.
The official launch of the development is from 5-7 August 2016. For further information contact Dave Coutinho of Pam Golding Properties on 010 595 4300 or 083 625 1530 or email [email protected] or [email protected].