Civil contractors have moved on to site at Waters Edge, a R385-million new high-rise residential development overlooking the spectacular 16ha Intaka Island wetlands reserve and surrounding waterways in Century City.
From left: Tafadzwa Ncube and Mariska Auret from Rabie Property Group with Hennie Davel and Christoff Lottering of Group Five.
Mariska Auret, project manager of Rabie Property Group, said the site, which is situated between Aurecon and Knightsbridge and backs on to Canal Walk Shopping Centre, had been handed over to Group Five in mid-May and earthworks had now begun.
“Following earthworks, piling is programmed to commence in the first week of June with construction starting in late August with completion scheduled on a phased basis between November 2017 and February 2018.”
Waters Edge will comprises 144 north and north east facing apartments, of which 114 have been sold for a total value R282-million ahead of construction starting.
Brian Usher, sales director of Property World, the specialist on-site agents, says this represents 80% of the number of apartments and 74% of the total value.
The development will consist of 41 one bedroom apartments, 71 two bedroom apartments and 32 three bedroom apartments including two penthouses. All apartments will have balconies and will be hard wired offering high speed internet connectivity.
The units vary in size from 62 square metres to 205 square metres, including balconies, and are priced from R1,7-million to R5,7million, VAT inclusive.
Usher said the remaining stock comprised mostly larger units which would appeal to owner occupiers.
“Once construction gets under way and they can start to see what they will be getting, we expect these units to move very quickly as it is truly an exceptional development.”
Designed by Munnik Visser Architects, the eight storey building is built on a plinth which elevates the height of the structure by two floors and allows for pedestrian movement and extensive landscaping of the ground level plaza.
While it will have the convenience of being on the doorstep of Canal Walk, an adjoining structured parking garage will act as a buffer between Waters Edge and the shopping centre, says Usher.
The building will be serviced by three lifts with at least one allocated basement parking bay being provided per apartment with residents able to rent additional bays in the public parking garage which will also provide parking and 24 hour concierge services for visitors.
Basement parking for residents will have a separate entrance to the structured parking garage and offer direct access to the apartments via two lift lobbies.
