Area is seen as “the next big thing” as it is adjacent to the CBD
A mixed-use development is planned for the Woodstock-Observatory-Salt River area, which is garnering great interest due to its location.
Given the growing unaffordability of the CBD, Steven Holvec, developments manager for Seeff Southern Suburbs, says this area is seen as “the next big thing” as it is adjacent to the CBD but also offers “excellent access” to the southern suburbs and others areas.
“It is sought after for the location, but also has its own unique attractions and enjoys the same street-café culture and urban energy as the CBD.”
To meet the demand for housing in the area, a number of new developments are selling fast, Holvec adds, with the latest being SALT, a mixed-use development offering 184 one and two-bedroomed apartments of 55.4m² and 78.4m² respectively.
Apartments are priced from R1.295 million a unit.
Careful thought has been given to maximise the modern, upwardly mobile lifestyle, and Italian-designed kitchens and vinyl “wood” flooring are some of the stylish features.
“Each apartment has a balcony and secure parking. There will be state-of-the-art security features throughout. The ground floor will comprise a retail component.”
In addition to developments in the area, such as SALT, being “clearly excellent investments”, Holvec says buyers and investors should note that the development falls within the Urban Development Zone, which means investors can take advantage of the UDZ tax incentives.