Amdec to build R1.2 billion luxury Condo on ‘strong demand’
Artist impression of The Yacht Club - Amdec Group’s new R1,2 billion mixed-use development in the gateway to Cape Town’s Waterfront.
Melrose Arch owners, the Amdec Group is to develop a R1.2 billion mixed-use development at the gateway to Cape Town’s Waterfront precinct in response to strong demand for luxury homes.
Known as The Yacht Club, the development will comprise residential, hotel, retail, and office space located within the Roggebaai Canal Tourism Precinct, named after the Roggebaai Canal which runs through it, connecting Cape Town’s financial hub, the vibrant CTICC, and the V&A Waterfront.
Nicholas Stopforth, Amdec Property Development’s Joint MD, told SA Commercial Prop News last Wednesday that The Yacht Club’s outstanding location makes it the ideal site for a mixed-use development.
Amdec is recognised as South Africa’s leading developer of New Urban lifestyles, with the iconic Melrose Arch mixed-use precinct part of its pioneering portfolio.
Stopforth explains: “The development is strategically positioned adjacent to the V&A Waterfront, a stone’s throw from the Cape Town International Convention Centre (CTICC) and on the doorstep of the city’s historic Foreshore. A variety of world-class tourist, business, retail, and recreation facilities are all well represented within the immediate vicinity”.
On completion it will be the biggest development of its kind in the Roggebaai Precinct, joining the existing developments of Harbour Bridge Hotel & Suites and Canal Quays apartments.
Set for completion mid-2017, the development will feature one bedroom, two bedroom, and luxury corner apartments that take full advantage of the building’s spectacular views. Apartments will range from 54m2 to 95m2 with a starting price of R2.4 million.
Stopforth also confirms that the development has the potential to include a hotel and associated serviced apartments. Negotiations with a well-known international hotel group are advanced in this regard.
The R180 million Cape Town cruise-liner terminal is approved directly north of the Yacht Club, and it will be completed in 2017 - perfectly timed for the opening of the development.
Amdec Property Development, part of the Amdec Group, are the development managers of the project.
