Rapid sales in chic new Green Point development

A chic new apartment building located in a prime position on Green Point’s Main Road has seen rapid sales, particularly to young professionals and international buyers.

Pam Golding Properties (PGP) reports that after a lengthy lull in the developments market, the appetite for well-priced developments is returning, with a number of new projects selling well.  “The Legacy”, located at 145 Main Road, is already 80 percent sold out, with just four apartments still available for purchase.  PGP is marketing these remaining units from R1.695 million to R3.489 million, inclusive of VAT.

PGP’s area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, says The Legacy is the brainchild of acclaimed developers Berman Brothers, who acquired the site in the run-up to the 2010 Soccer World Cup.  “They developed the land as a joint venture with local entrepreneurs John and George Comitis, co-founders of the Ajax Cape Town football club,” he says.  “The vision was to be part of the World Cup legacy – hence the name of the building – by developing a landmark residential space at the very foot of the Cape Town Stadium.”

“Berman Brothers have a reputation for high-quality developments, with their previous projects on the Atlantic Seaboard including The Equinox and The Regent,” continues Moraitis.  “But they showed particular foresight in recognising the potential of this location, at a time when Green Point had not yet developed into the trendy residential space it is today.  The huge capital expenditure on the stadium and the adjacent Urban Park has been a massive shot in the arm for the area, which now has a vibrant culture of cafes, restaurants, clubs, décor shops and delis, and has become a thriving hub of the media and advertising industries.  It is only natural that young professionals working in these industries have been drawn to the building, as have foreign buyers wanting a modern, centrally-located base in the city that is close to major amenities and affordably priced.”

Completed in April 2011, The Legacy consists of a total of 47 one- and two-bedroomed apartments in the main building, and a further six in the attached annex, Le Petit Legacy, which has access to the full range of the building’s facilities.  These include excellent security with a 24-hour concierge, CCTV access system and direct lift access to the secure basement parking.  The building also has a roof-top pool and entertainment area.  All units are equipped with air-conditioning, high-quality finishes and solar heating panels for hot water.  The interiors are a collaborative effort between MLB Architects and Emmanuelle Sebillet Design, and include natural textures, granite kitchen counters, top-quality appliances and energy-efficient lighting and heating. Buyers can choose from two serene colour schemes, reflecting either a modern classic or contemporary design theme.  The apartments range in size from 46sqm to 158sqm, and include four two-bedroomed penthouses as well as three spacious garden apartments.

Moraitis says the success and popularity of The Legacy have underscored the desirability of the Green Point area, prompting the developers to bring a second similar building to market, just a few blocks away.  “The Odyssey” will be launched in mid-September (2012) with a similar trendy, sophisticated design theme and state-of-the-art finishes.  The 59 apartments will be priced from R999 000 to R5.5 million.

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