Nedbank finances upmarket development in Stellenbosch

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Artist impression of Nuutgevonden estate. Artist impression of Nuutgevonden estate.

Discover anew the unique lifestyle offered by the “Town of Oaks”.

Situated between lush vineyards of the Cape Winelands at the foot of the majestic Simonsberg mountains, Nuutgevonden – which literally translates to “newly discovered” – offers property buyers an unrivalled opportunity to enjoy the unique lifestyle offered by the second oldest town in South Africa. Steeped in rich history and adorned with fine examples of elegant Cape Dutch, Victorian and Georgian architecture along quiet streets lined with magnificent oak trees, Stellenbosch provides the perfect balance between a tranquil lifestyle and everyday convenience.    

An exciting new development financed by Nedbank Corporate Property Finance, Nuutgevonden is a secure estate that captures the charm of living in Stellenbosch by offering breathtaking mountain views and lush surrounds.  

It also offers convenience with a variety of amenities such as braai facilities, a swimming pool, a club house, walking trails and safe parks to enhance a country lifestyle. Its prime location, just 4km away from the world-renowned University of Stellenbosch and with easy access to the N1, makes it the ideal choice for students, a great investment for first-time homeowners and an attractive option for buy-to-let investors tapping into the substantial demand for student accommodation in this town.

“Demonstrating our commitment to the property market, Nedbank Corporate Property Finance is pleased to team up again with its long-standing client, Asrin Property Developers, to bring a range of lifestyle options to homeowners, tenants and property investors through this exciting new property development,” comments Richard Thomas, regional executive Nedbank Corporate Property Finance, Cape. “This development, valued at R96 million, will bring to the Stellenbosch market sectional title apartments with secure parking, as well as free standing single storey and duplex houses, to cater for the strong demand for student accommodation, as well as the needs of property owners who are buying in this prime multi-faceted property market for a wide range of reasons.”

Situated off the R304 on the outskirts of Stellenbosch, the development covers 64 187m² and comprises the construction of 141 sectional title residential apartments in six sectional title apartment blocks in three phases, as well as the establishment of 52 freehold plots (plot and plan) at a total capital investment of R59 million.

The sales price of the individual apartments, which are 59m² and 60m² in size, range from R599 000 to R725 000, while the houses – ranging between 100m² and 120m² in size – are priced between R849 900 and R1 190 000.  This ensures affordability for those who want to attain a unique lifestyle in one of the world’s most beautiful towns, renowned for its world-class educational facilities.   

The development of Nuutgevonden is being undertaken by Asrin Property Developers, one of Cape Town’s leading black empowered property developers, who have built a solid reputation in the Western Cape property market. Harnessing a wealth of management experience across the full spectrum of property developments, including residential, commercial, industrial and retail, the group’s most prominent developments include the Melkbosch Village and Coral Heights developments in Melkbosch Strand, Villa D’Algarve in Muizenberg, Knights Ridge in Milnerton, as well as the Somerset Waterfront in Somerset West, Falcon Crest at the Tyger Waterfront and a mixed-use development, Eden on the Bay, in Big Bay Waterfront.  

“The enthusiastic uptake of the units during the pre-sales of Phase 1 and Phase 2 reflects the solid fundamentals that have been brought together in this particular development,” concludes Thomas. “More than 70% of the nett sell-out value has been achieved in both the first and second phase of the development within weeks of the launch.

It is a prime example of the development success that occurs when respected and experienced property developers identify unique and profitable development opportunities and bring these to fruition with tailor-made financial solutions provided by Nedbank Corporate Property Finance, the property finance provider of choice in South Africa.”  

 

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Cape Town Property Market  |  Commercial Property Finance  |  Nedbank CIB Property Finance