First East London mixed use development captures essence of trend living

Posted on 04 June 2007. Source: Daily Dispatch
 

Novate Property Investments media release

31 May 2007

 

First East London mixed use development captures essence of trend living

 

Triple Point, East London’s first mixed used development, has captured the imagination of investors with developer Novate Property Investments releasing the second building of 65 apartments, only a week after the development’s introduction to the market.

 

Triple Point, spearheaded by Novate Property Investments, comes after impressive property sector performances for the province over the past six years. These performances provided the impetus for Novate to apply the new urbanism approach to their R500 million development located in Beacon Bay , East London, just off the N2, on the new Quenera highway, next to the proposed Life Healthcare Hospital .

 

The “new” urbanism or mixed use approach aims to decrease stress, caused by the ever increasing distances between people’s work and “play” lives. It does so by creating developments which combine work, home and recreation spaces. Loosely modelled on the highly successful Melrose Arch in Johannesburg , the 12 hectare Triple Point comprises three nodes: residential, office and retail as well as a hotel and conference complex. It is an integration of trendy spaces that bring people, from all walks of life, together in harmony.

 

“This is a development that is aimed at the successful professional who wants to create a better lifestyle by reducing time consuming activities like travel and other mundane daily tasks. The additional time will give them the freedom and space to find a better balance between live, work and play. Residents will find much of this inspired lifestyle within the one kilometre radius of the development,” says Novate Property Investments strategic development manager Grant Wheatley.

 

Located alongside the Quenera River , the residential node will comprise three buildings of 70 one, two and three-bedroom apartments as well as 35 three-bedroomed luxury homes. The homes will have the best vantage points of the valley as well as access to the river.

 

The trendy appeal of the development will be emphasized in the architectural design of the different nodes. East London architect Fjord Jordaan has stylishly interwoven the best of Euro African elements through the use of natural stone, steel and glass. Careful attention has been given to details such as wider streets in order improve people experience of high street shopping while also looking at how people move from one section of the development to other.

 

A further experiential element of the development has been added through extensive landscaping. Over 7,000 m ² of land will be landscaped. More than 10,000 m ² will be paved. Over 500 indigenous trees and 1,500 m ² of lawn (excluding the luxury homes) will be planted.

 

Other features of the development include a gym and crèche facilities together with a runner’s track. Ample storage as well as armed response will also be offered. Three private swimming pools service the apartment buildings.

 

The 10,000m ² retail node will include a shopping centre with restaurants, coffee shops and convenience stores. A critical value-add for this node will be the piazza – a highly styled leisure area - that will give shoppers a venue to entertain and enjoy refreshments.

 

The office node comprises 10,000m ² of sectional title office space with tenants being offered state-of-the-art technology and highly stylized customization. The node will house up to 2,000 office workers. There is also option of leasing.

 

The development also includes a 120-roomed four-star hotel with conference facilities. Novate Property Investments is currently negotiating with one of the country’s leading hotel chains to set up operations within the development. An announcement is expected in July 2007.

 

The use of technology has been extensive in order to maximize convenience. Consequently developers offer features such as a high-speed internet access footprint, DSTV and high definition readiness. Biometric access, which uses the physical features of users, will be used for access to private areas. Keyless entry to homes and apartments is an optional extra. Developers are also considering license plate recognition for access control to the residential section. Security is major consideration and developers have installed 50 cameras to monitor security as well as keeping entrances to the development to a maximum of two.

 

Consulting engineering firm Arcus Gibb points out the development meets the highest environment standards. Some of the environmental features included are energy saving measures such as LED lighting as well as limiting the use of energy through non reflective glass. Developers have also taken care with the Quenera River and removed the alien vegetation, allowing it to run more effectively.

 

“Triple Point is designed to be a quality investment, one that talks to current and future trends. It aims to give investors a respectable return on their investment. However, investors should see this as a long term investment. We also believe East London ’s property market is a strong contender for continued growth,” ends Wheatley.

 

“Direct benefits will be evident from the increased employment that is generated by Triple Point. The increase in income will have a positive knock-on effect on a people’s income and spending patterns. Due to the localised nature of the development, it is likely that the spending will take place mainly within the city,” explains economic analysis company Geonomics MD Chris Ettmayr.

 

Construction of the apartments and the hotel starts in August this year and is due to be completed in 2008. Construction of the office and retail nodes will follow with the entire development expected to be complete for the 2010 World Soccer Cup celebrations.

 

While local skills will be extensively used in the project, specialist skills are drawn from further afield and include Melrose Arch architects Osmond Lange who are responsible for the retail and office designs, JSE-listed construction contractor Group Five who has been contracted to build the 210 apartments and Red Landscape Architects who will oversee the landscaping elements. Market consultants are SMG Africa. Property SI is the appointed estate agency handling the sales.

 

954 words

 

Grant Wheatley

Novate Property Investments

Telephone 043 726 6341

Email grant@novate.co.za

 

For Novate Property Investments (media relations)

Antoinette Panton

SMG Africa

Telephone 043 726 8833

Email Antoinette@smgafrica.com