select
|

Tallest residential development launched for Bree Street

The new development 16 on Bree in Bree Street, Cape Town, will soon be home to the tallest residential development in Cape Town’s central city.



Pam Golding Properties (PGP) is marketing this luxury lifestyle development. The 36-storey retail and residential project by FWJK Development is expected to be completed by December 2019.

"The new ‘16 on Bree’ forms part of the latest wave of development and redevelopment sweeping the central node, helping place Cape Town on a par with cities such as New York, London and Hong Kong,” says Dr Andrew Golding, chief executive of the PGP group.

“This is testament to the long-term vision of the city, developers and investors alike, who have embraced its potential and demonstrated sustained confidence in the area’s long term future.”

Laurie Wener, PGP senior executive for developments in the Cape region, says buyers are looking for urban living with secure parking and convenient access to the best the city has to offer.

"The 16 on Bree development places residents in the heart of hip Bree Street, with its art galleries, antique shops, artisan restaurants and contemporary bars. Bree Street has become a destination in its own right - reflecting the diversity and creativity of Cape Town.”

Bree Street already offers regular events such as “First Thursdays”, where people can frequent art galleries and eateries until late, and “Open Streets” where the road is for reserved for pedestrians.

16 On Bree is also within the city’s Urban Development Zone which entitles purchasers who let out their apartments to claim the UDZ accelerated depreciation benefits. Wener says this is an attractive benefit for investors who are, in effect, obtaining an interest-free loan from the South African Revenue Service over an 11-year period for repayment from the proceeds of the resale of the apartment.

The development offers a range of units: studio apartments from R1.5m, one bedroom units from R1.9m and three bedroom units from R7m. The penthouse apartments with four bedrooms start at R13.9m.

Residents will have access to the swimming pool and recreation facilities on the 27th level and an outdoor gym. A day crèche is planned to provide for the growing number of working parents moving to the city.

In keeping with the heritage grading of the HHO and Felderman buildings on the site, the development has been designed to include historical elements in the facade. Meanwhile, the street level design will reflect the urban landscape seen elsewhere on Bree Street and the double-volume colonnade along Prestwich Street will be for pedestrian access only.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK