The Yacht Club - R1.2 billion mixed-use development in Foreshore

Artist’s impression of The Yacht Club, the new R1.2 billion mixed-use development to be built on the Cape Town Foreshore.

The Amdec Group will develop The Yacht Club, a R1.2 billion mixed-use project on the Cape Town Foreshore at the gateway to the V&A Waterfront.

“The development will include residential, hotel, and office space, making it an ideal mixed-use facility for those who want to live, work, and play in a safe and secure precinct,” says Nicholas Stopforth, joint managing director of Amdec Property Development, the development managers of The Yacht Club.

“The Yacht Club’s outstanding location makes it the ideal site for a mixed-use development. It is next to the V&A Waterfront, a stone’s throw from the Cape Town International Convention Centre (CTICC) and on the doorstep of the Foreshore. A variety of world-class tourist, business, retail, and recreation facilities are all well represented in the immediate vicinity.”

The development is in the Roggebaai Canal Tourism Precinct, named after the Roggebaai Canal which runs through it and connects Cape Town’s financial hub, the CTICC, and the V&A Waterfront.

Stopforth says The Yacht Club’s nautically inspired design will reflect the heritage of this setting. On completion it will be the biggest development of its kind in the Roggebaai Precinct, joining the existing developments of Harbour Bridge Hotel and Suites and Canal Quays apartments.

“Set for completion mid-2017, The Yacht Club will include a podium of modern, flexible office space and two towers of urban hotel and apartment living. Features include generous parking, easy access, excellent design, quality finishes and animated public areas alongside the pedestrianised canal environment. Security features include access control, CCTV cameras and onsite security personnel, and energy-efficient features include double-glazing and LED lighting.

“The Yacht Club’s A-grade business space includes offices that are flexible in design. The office suites will be ideal for businesses with links to the node’s financial or maritime corporates, the travel and tourism industries, as well as retail, conferencing, entertainment and the arts,” says Stopforth.

“The apartments would suit young professionals, first-time buyers and investors, as well as corporate and long-stay accommodation. Buyers can choose from one and two bedroom units, and luxury corner apartments that take advantage of the building’s views. Apartment sizes will range from 54m2 to 95m2 with a starting price of R2.4 million.”

Stopforth says the development has the potential to include a hotel and associated serviced apartments. Negotiations with a well-known international hotel group are advanced.

“The precinct is designed around public areas, with benches and pedestrian pathways, and links effortlessly to the city and beyond. The Yacht Club has dedicated access at the junction of several transport systems, which makes it easy to get to by car, bus, shuttle, taxi and by water taxi on the Roggebaai Canal.

“Nearby amenities include restaurants, shopping, banking, health clubs, entertainment and much more at the V&A Waterfront, Cape Town Foreshore and the CTICC node. It has easy and immediate connections to the city’s major arterial roads and direct highway links across the city and to Cape Town International Airport.

“The R180 million Cape Town cruise-liner terminal is approved directly north of the Yacht Club, and will be completed in 2017 in time for the opening of The Yacht Club,” says Stopforth.

Commenting on the residential component of the new Yacht Club development, Pam Golding Properties says it has been overwhelmed by enquiries.

“The response to our initial marketing campaign has far exceeded expectations, with enquiries from Johannesburg, Durban and the Western Cape,” says Basil Moraitis, area manager for Pam Golding Properties in the City Bowl and Atlantic seaboard.

“There is an acute shortage of residential stock available in the central city and especially in this precinct, and we expect this development to appeal to a wide profile of buyers including investors, end-users and non-resident holiday home owners.

“The units will be particularly attractive to investor buyers, particularly those who want to accommodate adult children studying in Cape Town and want to establish a foothold in the property market.

“We anticipate that the Yacht Club development will entrench the trend started by the V&A Marina development and now the expanded mixed-use node under construction at the Silos. It has become apparent that the successful rehabilitation of industrial sites is closely linked to the successful integration of residential units in that area.

“There is also a worldwide trend of under-utilised prime industrial waterfront sites being repurposed into sought after residential and mixed-use nodes such as the Fishermans Wharf in San Francisco, the redevelopment of the waterfront precinct at Port Vell in Barcelona as a result of the 1992 Olympic Games into a popular tourist and residential precinct, and the extensive redevelopment around Canary Wharf in London.“

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