Somerset Lakes lifestyle estate in Somerset West is offering free private schooling at Reddam House Somerset with each property bought from the developer from October 2016.
According to Jan Minnie, spokesperson for Somerset Lakes, all properties bought from the developer, Omwieco (Pty) Ltd, will include the price of one full year’s tuition for up to one child a family at Reddam House Somerset.
“With the rising cost of education becoming a big concern for many South Africans, we know this will appeal to many parents who are also looking for the safety and convenience that lifestyle estate living provides.
“The main reason for this offer is to make our dream of creating a family-orientated residential community, with schooling located right on the doorstep of the homes, a reality,” says Minnie.
In June 2015, Omwieco commissioned an independent study by Urban Econ Development Economists into the demand and growth impact of including a school in a lifestyle development. The research showed that lifestyle estates developed in conjunction with a school resulted in 10to 15 percent higher property price growth compared to residential areas with pre-existing private schools in the area. Minnie says this trend was present throughout South Africa.
“In addition, research indicates that residential property close to junior primary schools cost 18 percent more than those further away. Senior primary schools increase property prices by 16 percent and high schools by 12 percent. The study also showed that properties close to good quality schools – irrespective of the school level – sold for 31 percent more than properties close to schools of lower quality.
“Both sets of research prove the positive effect quality schools have on property prices. This is also why it was important for us to partner with the Reddam organisation, to ensure our buyers made a good investment decision,” says Minnie.
The new Reddam House Somerset, which opened its doors in 2016, is offering the Independent Examiners Board (IEB) National Senior Certificate.
Minnie says that towns on the outskirts of Cape Town, like Somerset West, have become increasingly trendy over the last couple of years.
“The number of Gauteng residents moving to the southern Cape is increasing. Many young families are attracted to the lifestyle the Cape offers, with its beaches, restaurants and adventure sports, as well as the region’s top class schooling.”
He says an increasing number of property buyers are looking for recreational facilities that are offered by adventure estates. At Somerset Lakes, for example, residents can experience an array of outdoor activities, including fishing, canoeing and sailing on the 6 ha lake.
“On most adventure estates these types of activities are accessible to all residents, from those occupying sectional title units through to those in free-standing family homes. The convenience of this lifestyle is extended to many first time property buyers who may otherwise have been unable to access these activities so readily.”
At Somerset Lakes there are 59 new homes for immediate sale in The Lakes and Kingfisher Terrace phases, with prices ranging from an entry level of R2.16 million for sectional title garden cottages with three bedrooms, to R5.7m for large four-bedroom family homes.
“All these properties will come with the Reddam scholarships and the new owners can expect to take occupation at the end of 2017. The offer will work on a first-come-first-served basis and the sales centre at the estate has been geared up to process the housing purchases and scholarship system at the same time,” says Minnie.