[Image: Facebook]
Another day, another property development.
If it seems like there is a new one every day, you’re not wrong. And we are very used to ones in Cape Town selling out before they’ve even had a chance to officially go live with sales because the demand list is so very long.
But one that’s outside of Cape Town and bordering the Cape Winelands has broken records, seeing R618.6 million in apartment sales concluded in a single day.
The Charles is a new residential development in Somerset West. During their recent online launch, which took place on 18 March, Pam Golding Properties sold 124 studio, one-, two- and three-bedroom apartments, as well as a penthouse, in this bougie new building.
Located a convenient 20 minutes from the airport and a hop, skip and a jump to the nearest wine farm, The Charles was built in the landscaped grounds of the grand Lord Charles Hotel in Somerset West.
Pam Golding Property group’s chief executive, Dr Andrew Golding, said of the development, “Set to become a landmark, The Charles redefines apartment living in sought-after Somerset West. This represents one of the highest-volume, launch-day sales we have achieved, underscoring the strong demand for this first-of-its-kind development in the town”.
The Charles is being developed in a joint venture between UNIR Projects, IGUAL Property Group and 181 DevCo. They have appointed renowned architects, Grosskopff Lombart Huyberechts (GLH) & Associates Architects. “The Charles occupies a truly prime location, and from the outset we identified a clear demand for a premium apartment offering in this part of Somerset West,” said UNIR Projects’ Clifford Kupritz.
During phase one, 140 of the 178 units comprising apartments priced from R2.1 million to R7.3 million, along with penthouses from R25 million, were released.
But what led to such speedy sales? The Charles introduces a lifestyle-led apartment offering largely absent from the Helderberg property market (at least, for now). “The development forms part of a broader trend reshaping residential demand across the Western Cape,” Golding said.
“Strong rental demand across the Helderberg basin, coupled with continued semigration to the region, has resulted in an unprecedented shortage of rental stock in Somerset West. With limited new apartment developments of this scale coming to market, The Charles is widely regarded as a rare opportunity to secure property in a rapidly evolving lifestyle destination”.
Pam Golding’s area manager for Somerset West, Stellenbosch, Gordon’s Bay and Strand, Louise Varga, is not surprised by the interest in this development. “Since launch day, our sales team has received daily enquiries and has been inundated with concluding contracts. Buyers to date comprise a broad mix, with a strong investor component that quickly recognised the value in this stylish development,” she said.
Of course, people buying a unit at The Charles are also buying into a lifestyle. It combines on-site amenities, secure lock-up-and-go living and panoramic mountain-and-sea views in one of the region’s most established locations. Residents will have access to a curated range of lifestyle amenities, including a reception, clubhouse and lounge, resort-style swimming pool, a spa, restaurants, an indoor gym and lush landscaped gardens.
Additional features include 24-hour security with biometric access and secure parking. Owners will also be able to take advantage of the existing facilities at the Lord Charles Hotel. For those lucky enough to own a penthouse, these feature a spacious private terrace and swimming pool, with views across False Bay, the Hottentots Holland Mountains and the Helderberg range.
More people are opting out of city life because the price of luxury in Cape Town can be unattainable. So, it makes sense that areas like Somerset West are on the up and up. Close enough to Cape Town, close enough to wine farms and now home to modern luxury lifestyle estates.
[Source: Daily Investor]
Helen Wallace
www.2oceansvibe.com