Work on a multimillion-rand property development in Mill Park has picked up again, with plots on the upmarket estate expected to go on sale on Monday.
Inex Developments bought the land on Mowbray Street from the Grey Foundation in 2017, with the value of the scheme worth about R150m.
Zoned for a hybrid scheme, the development is a walled estate with one entrance and exit point — with 45 erfs on a plot-and-plan basis.
Buyers will have a choice of different designs that have been drawn up for the 45 plots, with a majority offering a study to work from home.
The average plot size is 550m², with prices about R850,000.
Inex Developments director Morgan Morris said the plots were divided into 11 different shapes, with a building plan matching each size.
“This estate offers strong security features and is well-positioned in the city.”
The smallest sized house comes in at 200m² and the largest at 331m².
“All have a minimum of three bedrooms, open-plan living room, guest toilet, double garage and indoor braai area.”
He said 90% of the homes would include a study.
He said two of the five directors had moved back to Port Elizabeth while keeping their head office in Cape Town.
“This is to ensure the smooth running of the site, marketing and to build strong relationships across the board.
Morris said the company planned to bring entry-level as well as high-end security estates to the market to cater to different buyers.
“Inex Developments has seen a gap in the Port Elizabeth market to bring top-class developments to the city.
“We have put our money where our mouth is and have committed to five different projects and a further four in the pipeline which will be brought to market within two years.”
On the Mill Park development, he said: “The easy lifestyle, the Big Five malaria-free game farms surrounding Port Elizabeth, the excellent schools, stunning beaches, and friendly people are just a few of the positive aspects that stand out.”
Morris said civil works on the development had stalled with the national lockdown, but work had begun in earnest when restrictions were eased.
“Inex Developments has begun the civils works and is on site completing a 4½-month construction programme,” he said.
“This comes after a protracted period of some 3½ years of rezoning the John Dunn fields, which finally came through in December 2019.”
Source: Herald Live