Areas and Places

Pretoria development has investment interest ahead of official launch

Menlyn Maine Towers Perspective
An artist's rendering of Menlyn Maine Towers residential development.

“The approximately 500 upmarket residential apartments, earmarked for development in the iconic Menlyn Maine mixed-use development in Pretoria East by Pam Golding Properties, are attracting a great deal of interest well ahead of their official launch to the market,” says Retha Schutte, Pam Golding Properties Regional Executive, Pretoria region.

Speaking ahead of the official launch of the luxury residential component, which is earmarked for 10 November 2016, Schutte said that the apartment development, Menlyn Maine Towers, has been highly anticipated, hence the popularity of the units among prospective investors, some of whom are from beyond the borders of South Africa.

“Even at this early stage, these residential units have already generated considerable interest. We have been offering a pre-launch special to interested investors and have already received more than 100 expressions of interest in the apartments, which we are marketing off plan. Given that the units have only just come to market and we have not even officially launched the development, this is unprecedented”.

“We are delighted with the high level of interest, although not overly surprised by it. These residential properties form an intrinsic part of Menlyn Maine, Africa’s first green mini-city, and will offer residents a cosmopolitan, urban lifestyle of unparalleled convenience. We therefore fully expected them to be in high demand from the outset. In addition, there is a growing demand for quality accommodation in this rapidly developing region of Pretoria,” says Schutte.

“Priced from R1.2 million for a studio apartment, and with a reservation fee of just R50 000, the investment value inherent in these units is quite apparent. Luxury studio, one-bed, two-bed, and three- bed units are available through the Pam Golding Properties Triology Collection with a wide range of design options to choose from”.

“Individual units are priced from R1,2 million to R5,2 million, offering buyers a tremendous range of accommodation alternatives.”

“At this stage, buyers are looking to snap up the best units from the Collection while they are still available. This is as a once-in-a-lifetime opportunity to secure a well-positioned apartment or an investment property in a prestigious, highly sought-after address.”

According to Schutte, phase 1 of the state-of- the-art Menlyn Maine residential component will consist of three wings, including two impressive high-rise luxury 14-storey apartment blocks. The residential development will be situated in the north-eastern portion of the mixed-use development. All of the buildings are designed to achieve a minimum of a Four-Star Green Star rating by the Green Building Council of South Africa (GBCSA).

“The residential development has been designed by GLH Architects, who have immense experience in residential development design. The building will come equipped with state-of- the-art security, a swimming pool, elevators, wheelchair access, high-quality fittings and high-speed internet connectivity. Residents will furthermore have access to a scenic green park area, around which the apartment blocks have been designed. The buildings were designed to offer superb views of the city of Pretoria,” adds Schutte.

The Menlyn Maine precinct is a carefully designed green mini-city, which is bringing together office, commercial, residential and entertainment spaces and is the largest mixed-use project of its kind within the Pretoria region. The developers have partnered with the international Clinton Climate Initiative to create a precinct that will be one of just 17 green cities worldwide and the only one in Africa.

The streets, residential developments, office buildings, retail outlets, dining establishments, commercial facilities, as well as all other public spaces, are being designed to promote responsible, healthy lifestyles in a sustainable city precinct.

According to Schutte, those who have already secured units have come from a range of different backgrounds. Some buyers have seen the apartments as an investment opportunity that will secure solid rentals into the future. “Others are working at one of the office developments within the precinct and find the ability to work, live and play in Menlyn Maine irresistible. We have had local and even some international professionals and business people, all showing an interest in the collection.”

“There is little doubt that there is a great need for quality accommodation in the Menlyn region, as has been evidenced by the high levels of interest we are experiencing in this new residential development. However, the popularity of these units is also in no small part due to the incomparable opportunity that is on offer at the precinct to secure a lifestyle experience the likes of which will have no equal,” concludes Schutte.