Greeff Properties/Coessa reports an increase in sales at Leisure Developments’ Grand Central apartment project in Main Road, Wynberg to the point where a sell-out is now in sight.
At the end of February, of the 414 units in the tower block, which is the first phase of the project, 340 had been sold. The apartments are priced from R405 000 for a bachelor flat, from R490 000 for a one bedroom unit and from R640 000 for a two bed unit.
“Although some 30% of the potential buyers have probably been knocked out by the National Credit Act and the new interest rates, this is one development for which there is still ongoing demand,” said Mike Greeff, CEO of Greeff Properties. “At least 40% of the buyers are first time applicants looking to find a foothold on the property ladder and there are literally hundreds of such buyers.”
Occupation will be given from the final months of this year. The construction team has now topped out on level two and is moving ahead rapidly.