Estate Living September 2016 Digital Issue | Page 33
Whilst the plans have been drawn up for
each plot type, investors may design and
build their own bespoke home, using an
architect of their choice, provided the
design adheres to the estate’s design
guidelines.
met.” says Mark Tame. The homeowners’
association will then take over the
responsibility of decision-making with
regard to security, adherence to the
environmental management plan and
compliance with the design guidelines.
The residents of Chapman’s Bay Estate
are demographically diverse. Some buyers
are from other parts of the country, such
as Johannesburg and Durban, and some
The 30 town houses were developed by from abroad have bought holiday homes
Magnus McDowall of Flagstone Property here, but most units have been sold to
Developments, whose early investment families from Cape Town. Since property
in the town house component played sales commenced, the developers have
an integral role in springboarding been very happy with the uptake. The
infrastructural development and early speed at which phases 1 to 5 were sold far
construction on the estate. Flagstone’s exceeded expectations, with around 70%
successful track record in property of units sold, and the process has begun
development made it the ideal candidate to find buyers for phases 6 and 7, which
to develop the town house offering. “The are arguably the most exclusive and besttown houses are especially attractive to positioned plots on the estate.
young professionals, as they are priced at
the right level to give them entry into the
property market,” comments Magnus. The
families who got in on the action when the
town houses were launched have seen a
property value growth of around R1 million
in 18 months.
“From a developer’s perspective, our
infrastructure mandate is now complete,
and once the last few remaining plots have
been sold and built on, our obligations are
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ESTATE REVIEW
Terrace units, which are three- and fourbedroomed single-storey homes that
emphasise outdoor living.