Our search for value along the Dolphin Coast this week
reveals a true gem, a mere stone’s throw from the southern tip of Zimbali
Coastal Resort. Situated on a very well elevated site, with spectacular sea,
beach and coastal views, is the Westbrook Beach Estate. Driving northwards
along the M4 you will notice some of the new homes that have been built on this
ridge with commanding sea views. The estate is 10,3 ha in extent, relatively
small when compared to the other estates within the area, but similar in many
ways to Hilltop Private Estate and Port Zimbali Estate.
There are a total of 82
freehold properties within Westbrook Beach Estate, of which 16 have been
developed. The estate has one sectional scheme, known as Sea Breeze, which is
developed and consists of 29 units. Two of these apartments have been
registered this year to date, and these transactions were recorded at
R1,250,000 and R1,400,000. With selling prices of under R9,000/sqm this
represents very good value for an opportunity located within a secure gated
community. The estate levies are currently R1,055 p.m. and the sectional scheme
body corporate levies are approximately R1,500 p.m. The property falls within
the Ethekwini municipal area as the Tongati river to the south of Zimbali is
the boundary line between the municipal districts.
Our five year transfer data
analysis for the estate indicates the following level of recorded trade: 2007 –
14 sales with a combined value of
R11,48m; 2008 – 14 sales at R10,12m; 2009 – 10 sales at R6,5m; 2010 – 9 sales
at R6,13m; 2011 – 15 sales at R9,96m; and 2012 year to date – 6 sales at
R3,25m. The average selling price, across all transactions, is currently
R1,543,211. This places the Westbrook Beach Estate within the strike zone of
the most popular price bracket in the market at the moment.
The relatively low
level of sales volumes over the past few years also provides the opportunity
for current buyers to buy low before the prices start moving upwards. For
anybody looking for great value for a large new completed home below R4m, this
estate is a must see option to add to the list. With such excellent sea views,
and conveniently positioned close to the popular Westbrook Beach, the amenities
of Ballito and the airport, it is only a matter of time before these properties
experience more and more demand and prices are forced upwards.
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