PROPERTY: New Development in Randpark Ridge Offers Two Bedroom Apartments for Under R1 Million
Recent Western Cape Business News
SEEFF Randburg is about to launch sales under exclusive mandate for national developer Reeflords’s latest 317-unit project in the popular suburb of Randpark Ridge, allowing investors to now obtain property in a formerly unaffordable suburb with an excellent location.
Seeff agents Regina Moqabolane and Siyabu Fadane, say Orchid Ridge is conveniently situated at the corner of Beyers Naude Drive and CR Swart Road in Randpark Ridge and is close to nature reserves, schools, churches and shopping centres amongst others.
“The development is also very central to many other areas in the region and points of interest include the Northgate Dome, N1 highway, Clearwater Mall, Cresta Mall, popular restaurants, the Lifestyle Garden Centre, excellent medical facilities like Wilgeheuwel hospital, Monte Casino and an amusement park for children. A drive of less than 35 minutes to the North West also puts owners in close proximity to the heart of The Cradle of Humankind.”
The Seeff agents continue that the development offers a unique architectural design approach that exudes opulence and includes a gym, pool, clubhouse, fibre optics, children’s play area, 24 hour security and CCTV.
“Orchid Ridge boasts one bedroom and one bathroom apartments (51m2) for R675 100, two bedroom and one bathroom apartments (68m2) for R918 200, two bedroom and two bathroom apartments (75m2) for R982 000 and three bedroom and two bathroom apartments of 94m2 for R1 229 000”.
Chris Hajec, MD for Seeff Randburg, describes Randpark Ridge as one of the most “liveable suburbs” in Randburg.
“With Orchid Ridge a first-time home buyer is not only given the opportunity to own in a suburb formerly out of their reach in terms of affordability, but will also have the peace of mind that five to seven years from now when they are ready to upgrade, they own an investment which will go a long way towards financing the next step-up or which can be maintained as an income producing asset”.
Hajec adds that rental yields at Orchid Ridge are predicted to be higher than the average market.
“It is not very often that two bedroom and two bathroom units come onto the market in a sought after area at below a million rand, no transfer duties and the banks are keen to provide finance.
A development like this is likely to buck the trend of poor rates of appreciation prevalent in South African housing stock and first-time home buyers are more often than not creating a win-win situation when they decide to invest”.
Orchid Ridge will be launched on 1 November.
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