New mixed use development for Century City

A total of 51 apartments, 1 300 m² of double volume ground floor retail and 3 000 m² of offices are now being launched for sale in The Matrix, part of a new mixed use precinct being developed around an urban square which is destined to become the bustling new commercial and hospitality hub of Century City.

Artist’s impression of The Matrix, part of a new mixed use precinct being developed around an urban square at Century City.

An eclectic mix of retro and contemporary styling The Matrix combines robust facebrick façades with concrete, glass and steel to make a strong creative statement and provide an impressive address for residents and businesses.

Being developed by the Rabie Property Group at a cost of R205 million, the sectional title development will comprise six double volume retail units on the ground floor ideal for high visibility destination retail such as boutique showrooms, restaurants and service retail. The retail units range in size from 217 m² to 332 m².

The next three floors will consist of flexible office space ranging in size from 120 m² to a full floor of 1 530 m² and selling at around R20 000/m².

The one, two and three bedroom residential apartments on the top three floors vary in size from 45m² to 103m², and are priced from R1.36 million to R3.06m. Some will have balconies and many will have sea and mountain views.

Steve Cloete, project manager for Rabie, says that “nested” parking in a super basement will be allocated on the basis of 1/100m² for offices and one bay for one-bedroom apartments with the pricier two-bedroom units and all three-bedroom apartments having two bays. Additional parking bays will be available on a casual or monthly basis in a structured parking building also fronting onto Century City Square.

Cloete says that following Rabie’s experience at other recent residential and commercial launches at Century City they expected sales to be brisk, particularly for the residential apartments.

“At the launch of our Mayfair development late last year all 130 apartments were snapped up in days – with the first 70 units being sold within 45 minutes at a pre-launch function.

“We have a fairly extensive list of potential buyers who missed out on our earlier projects which were all sold out long before completion and some even before construction started.”

He says The Matrix apartments and offices are been designed to appeal to investors and owner occupiers looking for a “sexy asset” and a trendy address close to the hustle and bustle of Century City Square.

“The apartments, with their distinctive architecture combining exposed concrete ceilings with beautifully finished bulkheads with downlighters, timber vinyl floors and exposed brickwork interiors, are very different to what we have done before and we believe the development will appeal to a broad market.”

Cloete says that north and west facing apartments will all have airconditioning and finishes will include imported kitchens with built in appliances.

Also fronting onto Century City Square is a 900 seat conference centre with a total capacity of 1 900 over 20 venues, a 125 bedroom hotel, the Annex, 4 500 m² of offices to let over four floors above the conference centre with ground floor entrance; the Apex, an eight storey building comprising 7 900m² of offices over seven storeys with ground floor restaurants, bistros and coffee shops, and a six floor structured parking building. This, together with a super basement parking garage, will provide a total of 1 330 parking bays for the buildings around the Century City Square.

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