Fairway View Phase 3 development

Private Property South Africa
Cathy Nolan

Fairway View Phase 3 is situated on Augusta Crescent in Pollak Park just 2.5 km from the Springs CBD and 3.5 km from Carnival City. It is just off the Springs West Road and 4km from the M17 Freeway which allows quick access to Benoni, Boksburg and Brakpan.

The complex is located next to the Springs Country Club Golf Course. Some of the units overlook the golf course. It is built on two levels and there are 1 bedroom/1 bathroom units and 2 types of 2 bedroom/1 bathroom units. All units have patios (ground floor units) or balconies (upstairs units). There are 72 units and the nine blocks are well spaced to provide excellent living conditions. Security is in place.

The recently completed new units are ready for occupation and the features are:

  • Some fully tiled units and some with carpets in the bedrooms

  • Excellent quality royal cherry fitted cupboards in the kitchens and bedrooms

  • The kitchens have tasteful black post form tops and ovens and hobs are supplied

  • These is provision for washing machines and in the kitchens and pre-paid meters are fitted

  • Each unit has its own carport and there are external washing lines available

  • The club house has a large hall, fitted kitchen and bathroom with basins and toilets

The units represent an excellent investment opportunity for buyers who either want to live in the units or who wish to “buy-to-rent”. AgentDirect will be managing the complex and placing tenants and managing them for owners. There is high rental “demand” in the area for these aspirational units.

AT THESE PRICES CAPITAL APPRECIATION IS EXPECTED TO BE GOOD!

The financial considerations for “buy-to-rent” investors are as follows:

Apartment Type Sq. m. Available Price (from) Per sq. m. Deposit Bond
1 Bedroom - 1 Bath Simplex 35.5 11 259,950 7,323 5,000 254,950
2 Bedroom - 1 Bath - Simplex 45.3 55 289,950 6,401 5,000 284,950
2 Bedroom - 1 Bath - Duplex 59.1 6 329,950 5,583 5,000 324,950
RENTAL vs. COSTS Rentals Levy & Rates Repayment Surplus
1 Bedroom - 1 Bath - Simplex 2,950 620 2,167 163
2 Bedroom - 1 Bath - Simplex 3,250 650 2,422 178
2 Bedroom - 1 Bath - Duplex 3,550 675 2,762 113
  • The Bond rate is calculated at a conservative Prime +1%

  • For more, call Diana on 083 310 3463 or email her at dianak@agentdirect.co.za

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