Amdec develops R135 million Retirement Village

Amdec Property Development is jointly developing the R135 million Belle Woode lifestyle project, a 117-unit upmarket retirement village on the border of Dainfern and Fourways Gardens in Broadacres.

“Belle Woode presents a unique retirement investment opportunity in the vibrant growing area of Broadacres, which has experienced extensive residential and retail development in recent years, creating the need for a retirement village,” says Nicholas Stopforth, Amdec’s Gauteng regional director.

Joint developer with the Tyris Group and Qumo Projects, Amdec will act as development manager of Belle Woode and will manage the project until completion. Basil Logan, MD of Tyris Realty, welcomes the working relationship that his company has formed with Amdec. At present the Tyris Group is responsible for the turnkey development and construction of approximately 750 sectional-title, cluster and retirement homes per year and is especially active in the Northern Suburbs of Johannesburg. Logan believes that the new association will be mutually beneficial to both parties, especially in the field of retirement villages which are in such short supply at present.

Amdec is a leading property development, investment and project management specialist currently managing property developments with a market value in excess of R4 billion. Amdec is an active investor in Belle Wood bringing the weight of its balance sheet, knowledge of property finance, experience in property development and reputation to the project.

“The phased development of Belle Woode has commenced with the installation of bulk services,” reports Amdec’s Gauteng Development Manager Gerhard Botha. “Sales valued at R30 million have been concluded with 39 units already snapped up, most of which comprise the 44 unit first phase,” notes Botha.

Belle Woode offers a mix of single storey, two-and three-bed stand-alone homes with garaging as well as one bed assisted living and two-bed duet homes available to purchaser’s wishing to scale down. The residences are located within a state-of-the-art ‘smart village’ with 24 hour broadband and centralised television. It also features hi-tech security with thumb print recognition, alarms and panic buttons fitted to each home.

Residents will enjoy a community centre with lounge, dining and pub area in addition to a library, gym and heated pool, 24-hour nursing facilities and non-hospitalisation care. Various optional services are available on request including cleaning, meals and laundry.

Open parklands and meandering walking paths with benched seating areas are key lifestyle features of Belle Woode, which is also ideally situated in close proximity to shopping centres, theatres, movies, hospital and a variety of outdoor activities.

Completion of the first phase is anticipated in May 2008, the second in November 2008 and the final phase is scheduled for completion in February 2009.

Amdec was founded in 1989 by father and son team of civil engineer John Wilson and chartered accountant James Wilson, Amdec is active in all sectors of property development with landmark Cape developments including the mixed-use Tyger Lake in Tyger Valley, commercial development The Terraces in Steenberg Office Park, the retail lifestyle development Westlake Lifestyle Centre in Tokai as well as residential developments Normandy Village in Plumstead.

The investment in Belle Woode follows Amdec’s expansion of its business into Gauteng following its 50% acquisition of Melrose Arch in joint venture with Property Partners in August 2005, which also includes investment in a portfolio of JCI buildings including 28 Harrison Street, Consolidated Building and 88 Fox Street and its redevelopment of 120 End Street in Doornfontein.