Fernwood launches phase two
Kloof's middle-income housing project to receive 18 more units.
ACUTTS Property Group launches the second and final phase of Fernwood Eco-residential estate in Kloof on Saturday 31 August.
The competitively priced middle-income housing project’s 30-unit initial phase has been virtually sold out.
The development, being undertaken by Classic Crown and situated in Fernleigh Drive in Kloof amid abundant wildlife, brings to the market 18 new units. Apartments start from R749 500, two-bedroom units from R1.03 million and three-bedroom units from R1.09 million with buyers offered a range of fittings to match personal taste.
Building on phase two commences in January next year with occupation expected by May 1 and the whole phase will be developed as a single project.
Acutts chairman, Pat Acutt, said the success of Fernwood phase one reflected the appetite South Africans have for good quality, affordable housing. This development brings investors the chance to live among nature as 80 percent of the land will be retained in its indigenous state.
Consequently, owners can indulge in hiking trails to the waterfall or the African Crowned Eagle viewing platform. Beyond these large birds of prey, wildlife includes dussies, ruby-footed giant black millipedes, the Kloof frog, Yellow Billed Kites and several Kingfisher species.
Indigenous trees include Red Beech, Hluhluwe Creeper and Climbing Granadilla.
Fernwood recreational facilities include an extensive playing field and swimming pool, while the development boasts both 24-hour security and pet-friendliness.
“While some sites have sea views, owners are assured of breath-taking views wherever their homes are situated within the estate,” said Acutt.
The property is zoned for Kloof schools as well as having accessibility to St Mary’s and Thomas Moore.
Acutt said most developments coming to the market currently cater to the upper income brackets without regard for middle-income South Africans. Fernwood seeks to redress that balance and, given the bulk of phase one was sold on launch day, there is a clear demand within this sector.
The first 14 units in phase one will transfer ownership in September with the balance ready for occupation before Christmas.
“The majority of the units will be owner-occupied with only a handful purchased for investment purposes. The buyers have all expressed excitement at the prospect of property ownership,” added Acutt.
