Estate Living Magazine Investment - Issue 34 October 2018 | Page 17

Another attractive development
in the Westlake area is Balwin
Properties's Westlake Eco-Estate
situated near the Westlake wetland
and comprising 770 one-, two- and
three-bedroom units, also starting at
around R700,000 and fetching rentals of
around R7,800 for a one-bedroom unit.
It offers a lifestyle centre, swimming
pool, jogging/walking trail, boutique
gym, restaurant, and braai area.
‘Modderfontein is set to eventually
accommodate around 30,000 residential
units,’ says David Ingle, Seeff’s MD in
Edenvale and Bedfordview. ‘A town centre
is planned (to be named “Modderfontein
New City'), along with the much anticipated
Mature living
Heritage Estate, situated off Peace Street in Modderfontein is an
elegant mature lifestyle estate for people over 50 looking for a
retirement option together with assisted living services, and for
investors buying to let. Developed by Capstone 237, the estate
consists of 126 sectional title, pet-friendly units, with modern
finishes and fully integrated imported kitchens. Prices start at
R1.3 million, with levies averaging around 1.5% of the sales price
annually.
Myron Economacos of Capstone 237 states that the first two
phases of 60 units have been completed, transferred and
occupied, and another 32 units in phase 3 are due to be
transferred in October 2018. Phase 4 – a further 34 units is due
to be completed by January 2019.
There are currently close to 100 residents in the estate. The
market has expanded to include healthy, working 50-something-
Fish Eagle View
Modderfontein Gautrain station, which will catapult the area into
one of Gauteng’s most desired residential locations, as it will
be a central urban spine connecting Kempton Park, Midrand,
Sandton and Germiston,’ he says.
Busamed hospital serves both Modderfontein and Linbro Park,
and schools in the area include Founders Hill Private School,
School of Modern Montessori, and The King’s School Linbro Park.
year-olds, and the lock-up-and-go apartments are popular with
investors and people buying for their parents.
The focus of Heritage Estate is the stately Heritage House, which
was built in 1910, and is being renovated under the guidance of the
Provincial Heritage Resources Authority Gauteng (PHRAG). This
will house the dining hall, library and gentlemen’s bar. Heritage
House overlooks the enchanting oval of landscaped gardens with
indigenous plants and heritage trees, and The Pavilion, which
dates from 1925, and houses the coffee shop.
www.estate-living.co.za
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