FORMER Stocks & Stocks boss, Bart Dorrestein's plan to create an upmarket leisure hub in Sandton came closer to finalisation yesterday at the sod turning ceremony of a R600m mixed-use development, Michelangelo Towers.

The 33-story development consists largely of 150 luxury residential apartments with prices ranging between R1,2m and R25m on a site located in Maude Street.

The development, which is part of a broader plan that includes the Michelangelo Hotel and Sandton Square had been dismissed by many as wishful thinking.

Now operating as Legacy Group, Dorrestein has managed to secure the support of BoE, which comes in as a financier and an owner of a small stake in the high-rise development.

A joint venture between Stocks Building Africa formerly Stocks & Stocks and Group 5 has been appointed as the main contractors for the project.

Dorrenstein said Legacy was looking to complete the development within 25 months. 'This will be Africa's most prestigious high-rise development,' he said.

Michelangelo Towers encompasses a 4500m² lifestyle design centre linked to Sandton Square. The site is between the Michelangelo Hotel and CitiBank, opposite the Sandton Convention Centre.