Luxury lifestyle complex for Centurion 
Nick Wilson

Property Correspondent

FORMERLY listed property holding company Lyons Financial Solutions Holdings will develop a R320m luxury residential development in Centurion early next year.

The company said the 30-storey luxury lifestyle complex, called Lake Towers, would be situated on the Centurion Lakefront.

Speaking from India last week, Lyons executive director Garry Fromentin said that the development would include a small portion of retail property.

“Very simply South Africans are fast growing their level of acceptance to live in apartment buildings as a strong alternative to gated communities, which I call Noddy villages,” said Fromentin.

The company had owned the site for the development for some time, he said.

Fromentin said Bart Dorrestein of the Legacy Group was planning to build a 20-storey development on the other side of the lake, which would include retail, residential and hotel aspects.

The two developments would “complement each other rather beautifully”, Fromentin said.

He said the group had a lot of confidence in the Centurion area.

These new property investments would stimulate the local economy, including a rise in property prices, job creation and a boost to the supplier industry. There would also be an influx of new residents.

The development would consist of more than 300 luxury residential apartments, which would range in price from R900000 to R4,3m, Fromentin said.