Westville Estate still growing

Activity at Westville's stylish new R800 million Westwood Estate is hotting up, in spite of indications that the residential property market is slowing down.

Buyers who scrambled to purchase flats in Westwood's first phase started moving into their new homes early this year, with final occupation having taken place at the end of March.

Strelitzia Terrace, which consists of 116 flats, is now almost fully occupied with owners taking advantage of the stylish club house and swimming pool, as well as enjoying the benefits of the secure perimeter and access control at the gatehouse.

"Handing over the first apartments in this sought-after development was hugely exciting and rewarding," said Lance Gore of Spencer Gore Developments.

"Fortunately, we have not been impacted too much by load-shedding schedules as we are well advanced on the development and, while being very disruptive and inconvenient, the contractors are learning to work around this by using generators." He said that of more concern to the property market were the continued high interest rates which looked likely to remain for a while.

"It is no secret that this has caused a slow-down in sales at high-end developments, but this has impacted Westwood much less due to the fact that it is a reasonably priced estate offering great location, security and convenience.

"We would far rather be in the market we are in as there is still demand for our product." Gore said Plumbago Terrace (phase two) was on track and would be ready for occupation in early July, while Aloe Terrace (phase three) should be completed in early November as planned.

He added that land in phase four, consisting of 128 townhouses and 171 freestanding units, would be released as soon as the market research and evaluation was completed, but it would probably be before the end of the year. It could also be as early as July if, as it appeared, there was demand.

A bonus for Westwood Estate owners is the anticipated opening of the R600 million Westwood Mall by October, on the southern border of the estate. The shopping centre has already secured anchor tenants such as Pick n Pay, Woolworths, Mr Price and the Edcon group.

Central to the development, which is north of the M13 where it crosses the N2, is a green conservation belt comprising nearly 11ha of the 30ha estate. Gore said replacing existing alien vegetation with indigenous woodland was in progress. Also due for completion in the next few months is the Essex Terrace/University Road interchange, which is being widened.