New Sea Point development to create immersive lifestyle experience
Blok’s latest development - SIX ON N - is the urban property developer’s answer to a shift in the investment paradigm, "a result of buyers increasingly prioritising their lifestyles".
The new 87-apartment development set to launch officially on the 15th of October, will be situated on the renowned Norfolk Road in Sea Point. Starting from about R1.1m (VAT incl), SIX ON N’s apartments are anticipated to be extremely attractive to both investors and owners alike, says Jacques van Embden, Managing Director at Blok.
"The development marries the lifestyle benefits of shared spaces with the convenience of a serviced offering, creating an immersive residential experience.
'Challenges former notions of home'
“We wanted to design a forward-thinking solution that took into account the economic climate, historically low interest rates, as well as the growing desire for flexibility in both where we live and stay. This development seeks to challenge our former notions of home and how we live, both in our private space but also in shared spaces and our neighbourhood.”
In addition to a deli/grocer on the ground floor, where residents can purchase essentials as well as luxury foods, SIX ON N will also offer shared leisure spaces, such as a rooftop pool and dining room.
Van Embden says that the advent of Covid-19 has altered people’s approach to work and has therefore also influenced the design.
'An integrated workspace in each apartment'
“As people continue to spend more time at home for the foreseeable future, we have created private boardrooms that can be booked by owners and tenants, as well as an integrated workspace in each apartment, so that residents have the flexibility to work comfortably from home.”
SIX ON N’s homes are cleverly designed to make full use of the space, resulting in a product that feels significantly larger than its physical footprint might suggest - while the developer’s signature Blok Raw finish contributes towards keeping the initial investment low, and the yield and living experience high.
“We as developers put pressure on ourselves to offer compact spacing through thoughtful and innovative design solutions, which meet the expectations of modern life - meaning that one can pack more living into a smaller space,” he explains.
Van Embden notes that in South Africa, there remains an affiliation with home ownership or with owning an investment property, yet as the recession takes hold globally, consumers are increasingly cash-strapped. “Affordability has always been a key factor that drives ownership decisions, and is now more compelling than ever, he says.
'Sea Point remains a continually desirable'
“Fortunately, property remains an extremely resilient asset, and is considered one of the more stable investments over a long-term period. In addition, the interest rates are currently the lowest they have been in five decades, making it an attractive time to buy.”
Buyers can also take comfort in the fact that Sea Point remains a continually desirable investment location that offers access to two beautiful natural assets - the mountain and sea - integrating with a globally exciting, modern cultural and entertainment city.
“Blok’s ethos has always centred around connectivity and a passion for community, and the development concept is congruent with this. SIX ON N features a host of leisure attractions on its doorstep, making for an incredible lifestyle.”
The property developer will release further details in the coming weeks. “We are extremely excited to introduce this dynamic product to the market, and at a very opportune moment,” says van Embden.