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 31 ESTATE REVIEW Terrace units, which are three- and fourbedroomed single-storey homes that emphasise outdoor living.