Century Lake residential

Posted On Tuesday, 26 February 2002 03:01 Published by
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THE first of the eagerly awaited and much discussed residential complexes is about to be started at Century City.
THE first of the eagerly awaited and much discussed residential complexes is about to be started at Century City. Bellandia have announced that they will be going ahead with a R16 million development of 48 units within the Century City estate.
Helen Harding, Sales Manager for Bellandia, said that careful research had shown that the demand would be for a range of units from single bedroom loft apartments to two bedroom, two bathroom units – and this is exactly what Bellandia will provide, at prices ranging from R250 000 to R450 000.
The design, handled by architects Maas & Coetzee, will complement that of the Canal Walk retail centre. It will, therefore, be Italianate, with ornamental colourful facades and classically shaped windows. The site, said Ms Harding, is within walking distance of the shopping centre and all the Century City entertainment facilities.
The apartments will be situated on the banks of one of the Century City lakes with its many different varieties of birdlife. In addition, they will have stunning views across the lake to Table Mountain and Lion’s Head.
The new complex, said Ms Harding, will comprise two blocks, one of which will be single storey, while the other will be triple storey. Most of the upper storey units will have balconies, while those on the ground floor will have large, attractive patios.
Access to the site will be via electronically controlled entrance gates and the whole site will be protected with electrified security fencing.
The site’s close proximity to the city, said Ms Harding, is a huge bonus.
'The traffic congestion on the N1, the N2, the Black River Parkway and other arteries into the town is forcing people either to live closer to the city or to find work in decentralised areas', she said.
'As on all our recent apartment projects,' said Ms Harding, 'we expect 30% of our buyers to be investors. A unit can be secured with a 10% deposit, the balance to be paid on transfer. As this will usually take place some 12 months after purchase, the investor kicks off with a built-in, inflation induced profit. We think this area will prove so popular with residents that a capital appreciation of 10% to 15% prior to transfer is likely.'

Publisher: Cape Business News
Source: Cape Business News

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