Prime penthouses keep Waterfront property sales pumping
MARKETING of the remaining two p e n t h o u s e s i s u n d e r way a t t h e One&Only Hotel at the V&A Waterfront.
L a s t y e a r, S e e f f P r o p e r t i e s ’ Atlantic seaboard MD Ian Slot and Waterfront V&A Marina area specialist Emelia van der Linde sold the first penthouse for over R110 million – a record price for residential property in South Africa.
Slot says penthouse one now has an additional roof garden, which was not included in the original design.
“The original size was 905m² which gave a price of R116 022/m². As the building pro g ressed, it became apparent that the vast roof area would be ideal for a breathtaking, expansive, private roof garden. Now with 1 440m² the price will be R72 917/m², with four parking bays and a storeroom.”
The V&A Waterfront is one of the most successful dockland renewals in the world, attracting about 22 million visits each year. There are 537 apartments in total in six apartment blocks on the front yacht basin and 11 on the canal.
“The Roggebaai precinct, which is also on the canal adjacent to the V&A Marina, is where Canal Quays is soon to be completed. Seeff sold all the apartments in this development and has launched the six luxury penthouses on top of Canal Quays.”
Van der Linde and Karen Miller say there have been more unit resales this year than in 2008.
“Prices for penthouses on the canal start at R21m and on the front yacht basin the Pinmore penthouse is for sale at R78m. Pinmore has six apartments, one of which is this penthouse. The split-level home has its own private lift, a double garage and a parking bay, two lounges, uninterrupted views of Table Mountain and the front yacht basin, a wraparound terrace, a pool, and a large entertainment area.
According to the July issue of the Residential Property Price Ranger, Seeff sold a two-bedroom flat listed at R7.8m on the canal for R45 190/m² and a two-bedroom, g round-floor unit listed at R15.75m for R65 611/m² on the front yacht basin. The other sale reported for the Waterfront was a three-bedroom unit listed at R24m and sold for R62 500/m².
Lawhill is the last development on the Marina, between the Kyle- more block and the One&Only.
Slot says: “All the apartments in the five-storey Lawhill overlook the hotel, and have uninterrupted views over the Waterfront islands, through the canals, over the lock, through the yacht basin and across Table Bay. At Lawhill you can still buy direct from the developer, which mea n s yo u wi l l p ay t h e l a u n c h prices.”