Nedbank Property Finance and Asset Finance have once again shown their faith
in Charles Potgieter, CEO of Charles Potgieter Investments, one of the
leading property developers in Cape Town's Northern Suburbs. Nedbank
Corporate have agreed to finance Potgieter's latest big project at Tyger
Falls, the new Northern Suburbs mega-development on the banks of the four
hectare lake in the old quarry which is destined to become the Northern
Suburbs' new-and-only waterfront precinct.
The Potgieter project will cost in the region of R80 million and the first
phase, now going ahead, will take up approximately half that sum.
Potgieter, working in collaboration with dhk Architects, is building a
residential development on the northern side of Tyger Falls on an elevated
site 20m above the water level. The new building will offer "near perfect"
views of the entire waterfront and the whole of Tyger Valley, across the
roofs of buildings on a lower level.
The dhk design allows for three floors of 52 apartments and a fourth floor
on which there will be four penthouse suites. A double basement will provide
secure roofed parking for cars and the entire site will be encircled by
security fencing with only one access point giving double security because
the entire Tyger Falls area will also be fenced and controlled.
The building façade has been given life and interest through the use of
setback and protruding sections which prevent it taking on the all too
common flat look seen on many large complexes and the different sections of
the façade will be decorated in varying but complementary colours. Extensive
use will be made of balconies.
Internally, the finishes, some of which will be optional extras, will be
luxurious, with the now almost obligatory granite tops in the kitchens and
under floor heating available to buyers who want it. Top grade carpeting as
well as floor to ceiling tiles will be standard. Units will have two
bedrooms, varying in size from 59,7 m2 upwards. The penthouses will have 101
m2 and will offer three bedrooms. All units will be satellite enabled for
DSTV. Prices are pitched from R619,000 (for standard units) to R1,350,000
(for the penthouses).
Richard Edwards, Nedbank Corporate's Property and Asset Finance Regional
Manager, New Business, said that the average price in the project will be
R10,800 per m2 and this, he said, compares favourably with the R12,000 per
m2 average price of other developments at Tyger Falls.
Heidi Aucamp of Heico Property Solutions is handling the sales and
marketing. A deposit of R5,000 will secure a unit, the balance being payable
on transfer, which on the first units can be expected to take place just
before Christmas.
Of the 56 units in the first phase, 32 have already been sold. Charles
Potgieter said that he expects full sell out before completion of the first
phase.
Publisher: Cape Business News
Source: Cape Business News
Second Tyger Falls project goes ahead
Posted On Wednesday, 28 May 2003 02:00 Published by eProperty News
Nedbank Property Finance and Asset Finance have once again shown their faith in Charles Potgieter, CEO of Charles Potgieter Investments...
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