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Free State waking up to a new morning? |
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Free State waking up to a new morning?
The Free State, long being the Cinderalla on the South African scene, is undoubtedly waking up and I am convinced that it will be an area worth considering for investment. Not only are they the joint holders of the Curry Cup (rugby's top honors in South Africa) and the judicial capital of South Africa, but as Rodney Hayter reports, a new development at Bethlehem (a relatively small town in Eastern Free State) has created much interest.
CAPE-TOWN-based national property group Pinnacle Point Holdings reports
a 43 percent of sales target valued at R43 million in a three-day burst
of its Wesselheim Secure Lifestyle Estate in Bethlehem.The estate,
which was launched last week, is the first by the company in the Free
State.
The multi-million-rand development overlooking Loch Athlone forms the
latest link in the Pinnacle Point chain that has seen the group
transact more than R1bn in sales in the past two years and bring to the
market investment properties in Mossel Bay, Clarens, Port Elizabeth,
Romansbaai and Pietermaritzburg.
Being developed on farmland previously under Highveld grass and
eucalyptus groves, the 45ha Wesselheim estate includes 222
free-standing stands and five medium-density townhouse developments.
Land sales range from R250 000, on ground gently undulating down to
Loch Athlone from a flat hilltop area dominating the central portion of
the site.
Principally aimed at current homeowners wanting to relocate and local
farmers requiring the security of estate living near town, Pinnacle
Point Holdings CEO Ashley Stone anticipates the developments will be
buyers’ primary homes, meeting the growing demand for secure estate
living in Bethlehem. The estate includes a clubhouse with two tennis
courts, squash courts, bowling greens and a fitness centre. The
surrounds provide cycling and jogging tracks interspersed with exercise
areas, while Loch Athlone provides opportunities for speed-boating,
yachting, water-skiing and fishing.
The guardhouse will be manned around the clock for maximum security.
Ownership includes membership of the nearby Clarens Golf and Trout
Estate.
Construction of bulk services is to begin early next year, taking a
year to complete. Buyers have two years after transfer to start
construction and another year in which to finish.
Pinnacle Point Holdings’ portfolio includes the flagship Pinnacle Point
Beach and Golf Resort at Mossel Bay-based, Clarens Golf and Trout
Estate, the Romansbaai Beach and Fynbos Estate, the Wedgewood Village
Retirement Golf and Country Estate (PE) and the Elephant Hill’s
Residential Estate (PMB).
Stone said the company had, in the past two years, become the largest
golf course developer in South Africa, developing numerous lifestyle
estates like Wesselheim while maintaining strict adherence to
environmental sensitivity.
“Entrenched in Pinnacle Point’s corporate strategy is a long-term
commitment to upliftment in every community in which we are involved.
Our future as a nation depends on business working hand-in-hand with
local communities,” Stone said.” (Always do right - this will gratify
some and astonish the rest.- another of Mark Twain's comments)
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