Buy­ers snap up Wa­ters Edge flats for a to­tal value of R256.6m

Weekend Argus (Saturday Edition) - - PROPERTY -

BUY­ERS bought 106 of the 144 apart­ments in Wa­ters Edge, Ra­bie Prop­erty Group’s lat­est res­i­den­tial de­vel­op­ment at Cen­tury City, for a to­tal value of R256.6 mil­lion at its launch last week.

“This rep­re­sents a 66.9 per­cent sell-out and is the high­est value of sales we have achieved at a launch for many years,” says Brian Usher of Prop­erty World, the ded­i­cated on- site sales agents for Ra­bie.

“And that is in spite of the fact that, due to its in­tri­cate design and its lo­ca­tion, the av­er­age sell­ing price of R32 000/m² is higher than most other res­i­den­tial de­vel­op­ments un­der­taken at Cen­tury City to date. How­ever, prices are sig­nif­i­cantly lower than com­par­a­tive de­vel­op­ments in the City Bowl and else­where.

“In ad­di­tion, the fact that this is the last res­i­den­tial de­vel­op­ment, other than at the Oa­sis Lux­ury Re­tire­ment Re­sort, that will be un­der­taken at Cen­tury City for the fore­see­able fu­ture and not un­til the Ratanga precinct is re­de­vel­oped is also strongly un­der­pin­ning sales.”

Usher says Wa­ters Edge, which is be­ing built at a cost of R350m, will back onto Canal Walk Shop­ping Cen­tre and will over­look the 16-hectare In­taka Is­land wet­lands re­serve.

He says two of the three other most re­cent res­i­den­tial de­vel­op­ments at Cen­tury City had sold out within an hour at their re­spec­tive launches, but these de­vel­op­ments were smaller.

“Ma­trix com­prised just 51 apart­ments to­talling R100m and May­fair, 130 units to­talling just over R200m, with the en­tire first phase be­ing sold at the VIP launch and the bal­ance over the launch week­end,” says Usher.

De­signed by Mun­nik Visser Ar­chi­tects, Wa­ters Edge will con­sist of 41 one- bed­room apart­ments, 71 two- bed­room apart­ments and 32 three-bed­room apart­ments in­clud­ing two pent­houses priced from R1.775m to R5.75m. All apart­ments will have bal­conies, be ei­ther north or north-east fac­ing and will of­fer ac­cess to high- speed in­ter­net con­nec­tiv­ity.

The eight- storey build­ing will stand on a plinth that el­e­vates the height of the struc­ture by two floors and al­lows for pedes­trian move­ment and ex­ten­sive land­scap­ing of the ground-level plaza. Units vary in size from 62m² to 205m², in­clud­ing bal­conies.

Con­struc­tion of Wa­ters Edge is ex­pected to start in April with com­ple­tion sched­uled for late- 2017. Visit www. wa­tersedge. cc or call Usher on 082 571 7024.

STUN­NING: An artist’s im­pres­sion of Wa­ters Edge at Cen­tury City, where 106 of the 144 apart­ments have al­ready been sold.

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