The picturesque seaside village of Hibberdene, situated just an hour from Durban on the KwaZulu-Natal south coast, is poised for growth with an investment of R4 billion and spin-off of some 60 000 jobs anticipated through a major small craft harbour and eco-estate project.  This is an area which has emerged as a prime location for residential property investment and a major tourist destination and which is about to undergo a transformation with a proposed harbour and waterfront project that includes a significant residential component, as well as other new residential developments.

Jill Kriel, Pam Golding Properties' area principal, says the project is on track with the environmental impact assessment now completed.  "This major new project will have significant benefits for the area, injecting new investment into the economy, job creation and providing a significant tourist attraction," she says.

Commenting on the local property market, Kriel says sales in the area have remained buoyant over the past two years, with PGP sales increasing by some 30 percent per annum over this period. PGP sales comprise approximately 47 percent of the local residential market. The company is extremely active in terms of residential development projects in the area.

She says: "The 26-unit Marina Palms development, which is just 200 metres from the proposed small craft harbour, is now sold out, at prices averaging at R1 million.  During the busy December period sales at Wozani Ridge Eco-estate were very buoyant and 50 percent of the total of 85 stands are now sold.  The entry level package ie land and villa, is priced at R1.1 million, while the average completed package is in excess of R2 million.
Buyers can choose from 14 villa designs and have three years to build."

In addition, PGP are currently marketing two new residential developments in the Hibberdene area. Bendigo Ridge, a new sectional title development comprising eight freestanding houses, each averaging at 175sqm, is situated in Anerley, 10km south of Hibberdene.  The homes have three bedrooms, two bathrooms and double garages, while the complex will be fully walled with additional security through electric fencing and remote access control.
Prices range fro R863 000 to R1.1 million and construction is already under way.

Comments Kriel: "The Anerley area is extremely popular among retirees and holidaymakers alike, and has a beautiful beach protected by shark nets and life guards, and a tidal pool.  It is also a popular fishing spot.  With all the scenic and tranquil appeal of a small coastal village, it is however close to all essential services."

Wave Crest is a new sectional title apartment block comprising only 10 units, and well situated only 200m from the beach, and with scenic breaker views.  It is located in Melville, where PGP recently sold a beachfront house for R5.8 million, believed to be a record price for the area between Port Shepstone and Scottburgh.  The attractive beach includes a tidal pool and good fishing locations, and is generally not over-populated with day-trippers or holiday crowds, says Kriel.

The two and three bedroom apartments at Wave Crest each have two bathrooms, main en suite. The apartments have upmarket finishes with granite kitchen counters, marble tops in the bathrooms and sundecks to enjoy the views - with whales often spotted beaching in the waters close by.  The complex will be walled with access control, and facilities include a laundry, swimming pool and braai entertainment area, and staff quarters.  Kriel adds that apartments are priced from R799 000, which is competitive for this type of quality, well-situated coastal property.

Ends

Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Pam Golding Properties