Phase Two of CapeGate Village, the hi-tech lifestyle residential and commercial development to be built next door to the planned CapeGate shopping centre, will be launched on August 9.

About 70% of the R214 million digital village project has already been sold, according to marketing developer Chris Tapsell of Group 3 Properties.

The first phase, consisting of 145 apartments and 40 offices with a total sales value of nearly R145.5m, has been sold out within six weeks.

The third phase, consisting of offices only, has also recently been sold to accommodate the administrative staff of the CapeGate shopping centre.

The second phase will consist of 77 apartments with a sales value of R35.9m, 54 offices valued at R33.1m, and a retail component worth about R11m.

The concept of automated living in an office environment, with convenient shopping on the doorstep, is proving as popular in the CapeGate area as it was at Tyger Valley, where Group 3 Properties' six earlier digital developments were all rapidly sold out.

At least 15% of the purchasers at CapeGate Village have bought property in earlier projects such as the Waterfront Cascades, showing investor confidence, says Tapsell.

An attraction for purchasers is that they are not only investing in property, but also in a lifestyle that takes convenience to the "nth degree".

Tapsell says one reason why his latest project is selling so fast is that an easy payment plan has been structured, giving purchasers of both residential and office units a lengthy period in which to prepare themselves financially for their investment.

Prospective homeowners who bought in the first phase range from young professionals, attracted by the electronic gadgets and free access to the internet that is included in the price, to older people wanting lock-up-and-go accommodation with easy access to the airport. South Africans working abroad have purchased about 5% of the units as an investment, he says.

Local investors bought about 50% of the A-grade offices in the first phase. Group 3 Properties encourages investment by offering a 12-month rental guarantee, extending the timespan still further before purchasers need to provide their own finance, says Tapsell.

The remainder of the Phase One office units were sold to owner-occupiers, predominantly from the service industries, including a firm of attorneys that purchased a whole floor of interconnecting units.

Already there have been many enquiries for offices in Phase Two, he says. These will be smaller to make them more attractive to investors.