FWJK has announced that it had sold out its R385 million residential development known as THE DOCKLANDS situated in De Waterkant, Cape Town in little over a month to Cape Town investors according to Craig Armstrong, regional director of FWJK.
This 134 apartment development in the highly desired Prestwich Street location of Cape Town involved some engineering gymnastics in retaining an existing office building structure and adding three floors to it plus an excavated basement parking level constructed under the existing parking level.
Armstrong noted that FWJK’s Co Development at Cost development methodology proved irresistible to investors who bought stacks of four and more apartments in the development in order to take advantage of the huge profitability available due to the high prevailing retail selling price of apartments in this sought after precinct.
The construction contract has been awarded to JLK Construction and will commence in November 2016.
