Buyers invest R72 million in hi-tech lifestyle

Posted On Monday, 23 June 2003 02:00 Published by
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PRIVATE investors have bought 82 residential units and 41 office units in the R200 million CapeGate Village development, which was launched last Saturday.

The hi-tech lifestyle residential and commercial development will be built just 100 metres away from the planned CapeGate shopping centre near Durbanville. Sales in CapeGate Village to date total just over R72 million. The 82 residential units in Phase 1 represent R36.9m in sales, and the value of the commercial units sold is R35.5m, says marketing developer Chris Tapsell of Group 3 Properties.

Several of the buyers who attended the launch had invested in all six of the company's earlier digital developments and realised a good return when they resold to people on the waiting list. Tapsell says that what purchasers are buying at CapeGate is a lifestyle. The concept of automated living in an office environment, with convenient shopping on the doorstep, has proved extremely popular in the Tyger Valley area, where it was introduced.

Group 3 Properties' earlier developments, including the Waterfront Cascades, were sold out rapidly. Units at CapeGate Village, by far the company's largest digital development, appear to be heading the same way, Tapsell said. "The latest development represents a self-sufficient new world of work, leisure and pleasure, where purchasers will find virtually every facility they need right on their doorstep," he said.

It will comprise 220 residential apartments and 120 offices, all boasting cutting-edge technology that will enable buyers to enjoy a life of push-button convenience. Each apartment will have around-the-clock high-speed internet connectivity 365 days a year, a 54cm flat screen TV/computer monitor with high-performance fibreglass mini-PC, a water purifier, underfloor heating and many other extras.

The apartments will also be enabled for the installation of home theatre and the Beam central vacuum system. The two residential buildings in the development will offer studio apartments, and one- and two-bedroom units. Apartments will vary in size from 30m2 to 72m2, and will be priced from R239 000. All will have balconies with views of Table Mountain or the Hottentots Holland range.

He says the 2 000 homes recently constructed in nearby Debron and Uitzicht underline the fact that the demand for housing in the CapeGate area is extremely high. There is also a strong demand for office accommodation in the burgeoning retail, commercial and industrial business hub, as the closest offices at present are in the Tyger Valley and Durbanville areas.

For more information, contact Christine Flowers of Group 3 Properties on 082 870 7292.


Publisher: Weekend Argus
Source: Weekend Argus

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