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THE LAKESIDE IN MUIZENBURGRE/MAX of Southern Africa is proud to announce that RE/MAX Peak was awarded a sole mandate to market The Lakeside - a sectional-title development of 9 700m2 on the False Bay coast, valued at over R70-million. Situated on Henley Road in old Muizenberg, this newly finished development, which offers 40 two-bedroom and 18 one-bedroom contemporary styled apartments, all with balconies, presents residents with a spectacular view of either Muizenberg Peak, Table Mountain or the wetlands of the beautiful Zandvlei Nature Reserve. "The upmarket location and modern design of this very attractive and secure complex makes it a very good buy right now," says Russell Pearson, Broker/Owner of RE/MAX Peak. "It is within walking distance of the False Bay Station and offers residents the opportunity to walk straight from their secure environment into the parklands of Zandvlei, home to many species of indigenous birds and waterfowl among others," he says. It's also within 20 minutes drive from Cape Town and can be reached by Metro train from the main station in Cape Town. The development, which boasts a wetland area, is enclosed by electric fencing and has electronically controlled access points at entrance and exit areas. Each apartment has a lock-up garage while one parking bay per apartment can be reserved at an additional cost of R10 000. A limited number of storage facilities are also available for more or less the same amount. "Indoors, the kitchens are especially attractive with granite counter tops, Defy ovens, hobs and extractor hoods," notes Pearson. Living areas and kitchens are beautifully tiled while bedrooms are carpeted wall to wall. "Ample built-in cupboards add to the bedrooms luxurious look and feel," says Pearson. The smallest one-bedroom apartments are priced from R758 000 while loft units of 150m2 are selling for just over R2-million. "We have not seen a major development of this size and value in the famous village of old Muizenberg for a while now. The unique combination of mountain, beach and vlei makes The Lakeside a once-in-a-lifetime investment opportunity," notes Pearson, adding that Muizenberg's warm water temperatures due to the warm Mozambique currents of the east coast makes it a popular swimming and surfing spot. Commenting on sales activity in the Greater Muizenberg region, Pearson says that sales have been ‘reasonably brisk' in the R500 000 and R1,2-million price range while buyer enquiries with regards to property in the afore-mentioned price ranges have increased since the beginning of the year. While a limited number of stock is available in sought after suburbs like Lakeside, Kirstenhof and Tokai where prices range from R900 000 to R4-million, a slight oversupply of stock, particularly in the newly developed suburb of Capricorn Beach, situated immediately to the east of Muizenberg, is experienced. "This is due to the fact that more than 700 new apartments and homes have been built over the past three years. These properties however offer excellent value for money as most homes are built within security complexes among others," comments Pearson. Typically, a small two- or three-bedroom home in Capricorn Beach can be bought in the region of R600 000 while a luxury lock-up-and-go townhouse with an unhindered sea view can reach over R2-million. As far as prices for top-end properties are concerned, world-class apartments in The Majestic Village, a unique 24-hour security complex with luxurious Spa and treatment centre, situated on the slopes of Kalk Bay, opposite the famous harbour, currently reach between R3,7-million and R7,5-million. "A top-end villa in St James will furthermore sell for more than R10-million at the moment," notes Pearson. Entry-level apartments in Marina Da Gama on the other hand, another large suburb adjacent to Muizenberg, currently sells for R490 000 while entry-level homes sell for approximately R550 000. Aside from a magnificent newly listed mountainside plot overlooking Kalk Bay harbor for R1,5-million, the availability of vacant land is limited. Commenting on property trends in Muizenberg, Adrian Goslett, CEO of RE/MAX of Southern Africa, says that estate living has become increasingly popular in the area over the years. "This shows that security still plays a huge role in the purchasing decision of the modern-day homeowner."
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