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Upmarket new residential block with retail space planned for Greenpoint

Continued and growing demand for apartments on the Atlantic Seaboard and in particular in Greenpoint has contributed to a healthy growth in the average selling price in this sector. 


 
According to Propstats, the average selling price of apartments in Greenpoint, taken over the period June 2016 to June 2017 has increased by 6.7% when compared to the average selling price over June 2015 to June 2016. “Investors are drawn to this sector, particularly for growth of the asset as well as a good return thanks to high rental demand,” says Ryan Greeff, Director of Greeff Properties, City Bowl.
 
“The five-year cumulative growth figures for these types of apartments in Greenpoint are particularly encouraging with an increase in selling price of 163%,” adds Greeff.  “The benefits of buying such an apartment off plan are even greater, given that the price excludes transfer duty, so these investment opportunities are sought after, and 35 on Main is by far one of the most promising, given its location, design, contemporary appeal and excellent pricing,” says Greeff.
 
35 on Main is yet another development by FWJK Developments whose signs adorn many of the tower cranes dotted around the City of Cape Town. This project will soon bring their total value of developments completed and under construction in Cape Town to R3,5 billion.
 
Rising eight storeys, 35 on Main, will comprise 32 units. The top floor is to be home to a two-bedroomed and  a three-bedroomed penthouse. Floors two to seven will house both one and two-bedroomed apartments priced from R 2 990 000 (no Transfer Duty).
 
The ground floor comprises an elegant reception/concierge and common areas well as retail/commercial space. Raised about half metre from Main Road street level, the space is to be fitted with attractive full height sliding/ folding glass doors leading to a veranda facing the Main Road walkway.
 
With its buzzing day and night life, comprising pubs, restaurants, the Greenpoint Stadium and a hub of businesses, centrally located Greenpoint attracts young professionals, and holiday makers, both South African and International. “The upmarket offering which is 35 On Main, with its striking, clean architectural lines and modern interiors, is perfectly positioned to cater to these target markets,” says Greeff.  Parking is abundant as every bedroom comes with one allocated and secure parking bay.
 
Construction is planned to start in September 2017 with scheduled completion envisaged in November 2018.


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