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R3bn investment into new CT suburb

Total investment into Sandown – adjoining Parklands North on the West Coast of Cape Town – is expected to exceed R3 billion, including an established top private school, easy access to MyCiti Bus routes, extensive recreational and open spaces as well as commercial mixed-use properties.
R3bn investment into new CT suburbSandown will be larger than Pinelands, extending over 190 ha. It is positioned north of Sandown Road and extends eastwards from Wood Drive towards the recently launched Rivergate development, and will include up to 2,000 houses with plot sizes ranging from smaller entry level erven (300 m²) to larger erven (750m²).

Whilst the intention of the developer is to provide a higher income residential living environment, the range of residential opportunities will enable new homeowners to buy into the development, as well as provide high-end investment opportunities for established homeowners. These opportunities will include secure villages one of which is already at and advanced stage of planning.

The total projected investment value is about R2.7 billion in the residential portion and about R350 million for the 7.7 ha of commercial land currently available. This value should triple as more commercial land becomes available along Sandown Road.

These commercial erven, already available from R1,400/m², include both retail and office opportunities in the commercial precinct along Sandown Road, with 93,000sq metres of commercial bulk, roughly the size of 18 rugby fields, available for future development.

The Milnerton Estates Limited, landowners and developers in the area for the past 100 years have already invested heavily into this new suburb by building the secondary campus of Parklands College three years ago. This campus which will eventually accommodate 1,300 learners, already provides an array of sporting facilities and other amenities over its 15.5 ha. With Parklands College already well-established and ranked amongst the top 15 schools in the Western Cape, the time was right to compliment the school with an upmarket suburb.

A modern contemporary language in architecture

From a built environment point of view, the range of development opportunities will create an urban landscape with contrasts in height, massing and architectural appearance. This, together with the undulating topography, will ensure an appealing urban landscape.

Sandown will also have open and recreational spaces, with future public open space for sports fields situated to the north. These opens spaces, incorporating the Fynbos Corridor, the Table View Nature Reserve and stormwater management systems will extend the biodiversity network in the area.

The developers have created both residential and commercial guidelines, to encourage a modern contemporary language in architecture, while “revivalist” or “period” architectural styles will not be permitted. The standard of architecture has been set by Parklands College and the residential guidelines will encourage residents to match this standard.

Regarding access and transportation, Sandown Road on the southern edge of Sandown provides a major road link between the R27 (West Coast Road) and the N7. It is within walking distance of the Virgin Active, the Food Lovers Market and the Checkers Hyper on the adjoining Parklands North development.

Sandown, which is on the MyCiti Bus collector route, is 5km from Big Bay, 4km from the Blouberg Beachfront and 21km from the Cape Town International Conference Centre.

The ASKA Property Group, who are well established in the area, have been appointed joint project managers and sole selling agents for this exciting new venture.

http://www.bizcommunity.com/Article/196/568/123453.html#more – Bizcommunity

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