Areas and Places

Pent-up demand drives sales at “The Vantage”

A brand new development to be constructed in Mouille Point, Cape Town, has more than half sold out within weeks of its launch to market – without a single advertisement published. Pam Golding Properties has the exclusive mandate to market “The Vantage”, which will overlook the Green Point Urban Park and Golf Course, with mountain and stadium views. Prices range from R3.15 million for its upmarket apartments.

Pam Golding Properties’ (PGP’s) area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, says 13 of the 22 available apartments have already been snapped up – more than half by buyers who were registered with PGP on a waiting list for new developments. “This is an indication of the substantial pent-up demand for brand new, modern apartments offering a secure and convenient lifestyle in a prime location,” Moraitis says, “as well as of the critical shortage of stock in this market. We previously saw similar high demand for the nearby development Amalfi, where there are only two units available for sale. Clearly buyers have a healthy appetite for this lifestyle and this area in particular, with its cosmopolitan seaside way of life, friendly village atmosphere and wealth of leisure activities. The local Ratepayers’ Association is also extremely effective, while safety and security is maintained by high visibility policing, which further enhances the area’s appeal.”

The Vantage will be located in Bay Road, and will feature a striking modern façade with a distinctive A-frame roof structure, designed by acclaimed Fabian Architects. The building will offer 20 one- and two-bedroomed apartments with top quality finishes, including Caesarstone kitchen counters, porcelain tiles and custom-fitted kitchen and laundry appliances, as well as HD flat screen televisions. The units will range in size from 65sqm to 98sqm. There will also be two luxurious 145sqm penthouse units occupying the top two levels, each with its own private deck and swimming pool, and direct lift access. Prices for the remaining apartments range from R3.15 million to R4.1 million, while the penthouses are priced at R10.7 million and R12.6 million.

Developers Earthspring say the building will feature state-of-the-art safety and security features, including biometric access control, intercom and CCTV camera systems, plus 24-hour manned security. Secure undercover parking will be provided for both residents and guests. The building will also feature a central heat recovery system for energy efficient climate control throughout.

Pam Golding Properties’ area specialists and development agents Lynn Pinn and Paul Levy say residents will enjoy easy access to the Promenade and Three Anchor Beach, as well as the Green Point Park, golf club, tennis club and outdoor gym, and the nearby Virgin Active health club. “There are ample opportunities for healthy outdoor activities in the vicinity,” they say, “from roller-blading, cycling and surfing to para-gliding off Signal Hill. The area is also renowned for its restaurants, from casual coffee shops and bistros to fine dining establishments, most of them within walking distance of The Vantage. Every amenity one could imagine is within a few kilometres’ reach – not least of all the V&A Waterfront.”

As a result of the positive market response to this development, construction can commence imminently, with completion anticipated by December 2015. Moraitis notes that this is an unusually rapid turnaround from launch of a development to anticipated completion – a time frame of just 18 months, for a process that usually takes three or four years.