Appetite for Mixed use Development in Umhlanga as units sell

Posted On Wednesday, 05 March 2014 09:46 Published by
Rate this item
(0 votes)

'The Zen' mixed-use development – adding a new dimension to uMhlanga Newtown living

The Zen uMhlanga.

The area is already well developed, with the acclaimed Gateway Theatre of Shopping at the epicentre and with a five acre green belt running alongside with beautifully landscaped green lawns, shady trees and a large natural freshwater pond.

Security and safety in the Newtown precinct is of a high standard, with 24 hour CCTV surveillance and patrols. A further advantage is the proximity of King Shaka International Airport, just minutes away, as well as office parks in the La Lucia and uMhlanga areas.

Pam Golding Properties secured an exclusive mandate for the marketing of 61 residential apartments and 12 offices and retail units, which are being sold off-plan at The Zen.

Being a mixed-use building, the ground floor comprises 12 commercial or retail units, each 100sqm in size, available to purchase at R17 500 per square metre (excluding VAT).

As a recent new urbanism project, the focus of design in the uMhlanga Ridge Town Centre on the north coast of KwaZulu-Natal has been on a public environment that is accessible to all, safe and convenient for pedestrians, attractively landscaped, managed and maintained. The architecture embraces an eclectic, contemporary approach which appeals to people of all ages.

Elwyn Schenk, area principal for Pam Golding Properties in uMhlanga and eMdloti says: “With its trendy clear lines and central location in the heart of uMhlanga Ridge Town Centre, The Zen is already proving immensely popular.Completion of the project is anticipated for August 2015.

“Purchasers to date are a mix of young buyers seeking to gain a foothold in the property market for a modest price, as well as buy to let investors wishing to achieve a good return on investment. 

"Given the position, appealing modern design and reasonable pricing, demand is brisk for a development such as The Zen with the residential component attracting those who prefer to own their own apartment – sometimes with financial assistance from family members – rather than pay the high rentals which the area commands. The latter naturally serves to make the units very appealing for buy to let investors.”

Last modified on Wednesday, 05 March 2014 10:21

Most Popular

Anuva Investments launch Section 12J hospitality fund with property partners Flyt Property Investment

Oct 18, 2019
Zane De Decker HR
Investment into Section 12J venture capital vehicles has seen a huge uptake over the last…

Fairvest to become fourth property company to list on A2X

Oct 30, 2019
DARREN WILDER
Fairvest Property Holdings, a real estate investment trust with a market cap of R2…

Property market ready for take-off as bond grants rise

Oct 18, 2019
BetterBonds Mortgage Monitor
Housing demand has continued to gain momentum since the start of the year and in the…

Significant shifts in the Winelands commercial sector

Oct 18, 2019
Caption Somerset West commercial
A decade of corporate semigration and decentralisation fuelled the Winelands commercial…

Equites Property Fund Interim Results

Oct 18, 2019
Andrea Taverna Turisan CEO Equites Property Fund
Equites Property Fund Limited (Equites) today announced distributable earnings for the…

Please publish modules in offcanvas position.