Asrin launches final phase of Nuutgevonden development in Stellenbosch

Asrin launches final phase of Nuutgevonden development in Stellenbosch

Artist’s impression of the final phase apartments and freestanding homes at Asrin’s Nuutgevonden development in Stellenbosch.

Asrin Property Developers recently launched the final phase of the Nuutgevonden development in Stellenbosch.

Elmarie van Huyssteen of Chas Everitt, one of the agents marketing this project says: “There are five freestanding, full title homes as well as sectional title apartments for sale in the last phase, and the pricing is competitive.”

Since Nuutgevonden’s launch five years ago, with the occupation of the first units only four years ago, homes here have increased in value on average by 15% a year. Apartments of 60m2 bought at R569 000 would now sell for around R960 000, and the value of the houses has increased from the initial R899 000 to the current selling price of R1.55 million.

Many of the apartments at Nuutgevonden were bought by parents whose children attend Stellenbosch University and many tenants renting work at the surrounding wine farms and restaurants.

“This development has done very well, not just in sales and the increase in value, but in demand for rentals or homes to buy, and the scheme is well managed as a whole,” says Van Huyssteen.

“There are not many developments where you can buy property for less than R20 000/m2 in Stellenbosch now, and this is the last opportunity for anyone considering buying in this area to be able to purchase anything for under R1m. There is very little chance that any future development will be able to be as competitive as this because of the shortage of land available in the area.”

The final phase consists of 62 two-bedroom apartments with an average size of 60m2. These will be in five walk-up blocks two and three storeys high, and the building layout is different to the first phases, although the internal layouts of the apartments are very similar to the popular first phase units.

There will be a central courtyard with a communal area and parking bays allocated to each unit.

Prices of the apartments range from R965 000 to R995 000. There is no transfer duty payable and the prices include VAT and transfer fees. Van Huyssteen says all four major banks have pre-approved 100% finance for pre-qualified buyers.

Abutting the apartment phase is a prime residential component with five freestanding homes available in a separate enclave. These are priced from R1.550m to R1.65m and will have two or three bedrooms, two bathrooms, and a garage. House sizes range from 90m2 to 100m2 and plot sizes from 221m2 to 421m2, which are larger than the initial plot sizes of the other freestanding homes in Nuutgevonden, and are fully walled.

“Each portion of Nuutgevonden has its own access control and on-site security,” says van Huyssteen. “The landscaped area along the river bank will create a pleasant ‘reserve’ wetland area.”

The finishes in the apartments and freestanding houses include built in Smeg ovens and hobs in the kitchens, granite or engineered stone countertops, and A-Grade ceramic tiles or a choice of laminate wooden flooring. All the units will have solar panel water heating. A major plus is that all units have fibre optic cable availability.

“There are many benefits to buying a new home, the most prominent being the five year NHBRC warranty,” says Van Huyssteen.

“Those who are planning to buy an apartment to rent will have no problem in finding tenants, with envisaged rentals for the apartments possibly being around R8 500 to R9 000 for 2019.”

Construction at Nuutgevonden should commence by February 2018 and completion is scheduled for December 2018, in time for occupation for the 2019 academic year.

Call Elmarie van Huyssteen on 082 745 6556 or Barbara Stapelberg on 082 440 6080 and Oyleng Majiet on 082 319 2523. Email elmarievh@everitt.co.za, or marketing@asrin.co.za.