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09 Dec 2014PROPERTY: UMhlanga Penthouse Sold for R24.9m Prior to Official Launch Of New Development - Silver Ridge
Recent Kwazulu-Natal Business News
“Apart from its pleasing weather conditions, with approximately 320 sunny days a year and all year round swimming, the growth of uMhlanga has been fuelled by a number of key factors. These include primarily the migration of business from the city northwards to this thriving, easily accessible region, the appeal of proximity to the new King Shaka International Airport and the Dube TradePort, and the availability of development land.
“Growth in this northern corridor continues unabated, with the demand for residential property continuing to outstrip supply in the area, which has resulted in developers re-entering the market in a substantial way,” says Schenk.
Recent new developments marketed by Pam Golding Properties uMhlanga include Beacon Rock phases I and II – where only 12 units are still available for purchase, and in Zenith Drive - The Zen, which is currently under construction, with all the residential units having sold out in a short period of time.
Schenk says an area which has caught the eye of purchasers is Izinga Estate. Situated on the ridge north east of the vibrant Gateway hub, Izinga is designed in an architectural style which embraces an earthy African palette combined with Balinese and Mediterranean forms. This incorporates attractive, indigenous landscaping, tranquil open spaces and magnificent walking paths; all this just minutes’ drive from the Gateway Theatre of Shopping and uMhlanga’s glistening beaches. Much of Izinga Estate is already well established with both free standing and duet homes set in lush surroundings.
Tongaat Hulett Developments has several phases of development planned for the area, all to be within the parent management association, and providing for gated and non-gated options. Several new tracts of land have been released with commanding elevated positions.
“Located within Izinga Estate and just launched through Pam Golding Properties uMhlanga is the Silver Ridge series of exclusive private residences – a development which is earmarked for success. These include two, three and four bedroom apartments priced from R3.2 million, two and three bedroom duplexes with private gardens from R6.3 million, four bedroom villas with rooftop pools from R14.5 million, and opulent five bedroom penthouses priced up to R24.9 million – one of which has already been snapped up prior to the official launch of this new development,” says Schenk.
Silver Ridge is designed by architects Louis Karol in conjunction with Wilkins Architects of Durban, with modern architecture and environmental awareness meeting cutting edge design through expansive outlooks, elegant lines and floor to ceiling glazing. Sleek, sliding aluminium shutters offer privacy while energy-efficient environmental control lessens the carbon footprint.
Expertly terraced with expansive balconies, most of the units in Silver Ridge will enjoy sweeping sea views up and down the coastline. Finishes will be in Caesarstone / marble counters, with porcelain tiles or white oak timber floors. The area enjoys 24 hour security CCTV coverage, with gated access and 24 hour guards. All units are pet-friendly and have undercover parking, villas have their own garages, while the complex includes a gym and pool facilities.
Adds Schenk: “Backed by award-winning developers Nedbank, Beare Holdings and Extra Dimensions, sophistication and state of the art living is at the forefront of Silver Ridge. This goes hand in hand with uMhlanga’s relaxed but luxurious ambience which has high appeal for local and international investors alike.”
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