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Sep 06, 2007:
In the eight weeks since the launch of phase one of Grand Central Wynberg, 239 (58%) of the 414 apartments on sale in the R212m residential and retail development block have been sold.
This represents a total sale to date of over R100m.
Mike Greeff, CEO of Greeff Properties, said the project "will transform the Wynberg CBD".
He said it is proving attractive to buy-to-rent investors, who comprise some 50% of the buyers to date, and to first-time home buyers, especially those who are currently living further east of Wynberg.
"Many people have expressed their delight to find that they can get a unit in this central urban area, close to so many facilities, at costs as low as R340k."
In the first phase buyers are being offered: • 30sq m to 38sq m studio units; • 34sq m to 38sq m one-bedroom units; and • 52sq m to 67sq m two-bedroom units.
Prices range from R340k to R820k.
Greeff said demand for fifth and sixth floor apartments, i.e. those at the top of the block, has been the strongest, as most of these units will enjoy panoramic views of either the Kirstenbosch mountains and Devils Peak, the Silvermine range and False Bay.
Occupation of the first units is scheduled to take place from mid-2009 and selling and marketing of phase two is now planned for an earlier kick-off than originally envisaged.
For more information contact 083 679 1809 or send an email.
