All 90 luxury apartments in the iconic Crystal Towers Residences have been sold bringing the total value of sales to more than R238million.
The Crystal Towers Residences forms part of the mega R750million mixed used Crystal Towers development which also includes a 180 room five star hotel, the African Pride Crystal Towers Hotel and Spa, restaurants, a gym and health spa, conference facilities and meeting rooms as well as Triple A grade offices.
Greg Deans, a director of the developer, Rabie Property Group, said the final six apartments had been sold to an international investor for a total of R18million.
“This development came on stream at the height of the recession and in spite of that all units have been sold in what is unmistakeably the most upmarket residential development undertaken at Century City to date.
“At a cost of around R30 000 a square metre, there is no doubt Crystal Towers Residences lifted the bar in terms of the quality of development on offer in the precinct and has added a new dimension to the mix of our city,” said Deans.
Units in Crystal Towers Residences varied from studios to one and two bedroom apartments and a number of two, three and four bedroom penthouses. Prices varied from R1,5m up to R13,5million for a four bedroom penthouse which is the highest price paid to date for a residential property at Century City.
Deans said the profile of buyers had varied with owner occupiers tending to go for the larger units while the studio apartments had proved extremely popular with investors and business travellers. About 12% of purchasers, he said, had been foreign including the buyer of the R13,5 million four bedroom four bathroom penthouse.
He said selected apartments had been offered with a unique investment package with purchasers able to contract the services of a dedicated professional management company to let out apartments on behalf of investors as well as offer a bouquet of other valet services from arranging airport shuttles to cleaning the apartment, providing a laundry service, stocking the fridge and any other required services to ensure owners of a hassle-free investment.
“Quite a few of the sales had been to buyers who were either visiting or staying at the adjoining hotel and had been over-awed by the breath-taking design and quality of the building and the five-star lifestyle it offered.
“These apartments are truly in a class of their own. Not only are they centrally located, but they offer a secure lock up-and-go home and an opulent lifestyle with every conceivable amenity, from a world class spa and gym, to all night deli and the largest shopping centre in the Western Cape, right on site or in easy walking distance.
“In addition every detailing has been meticulously applied, from the imported German kitchens with Caeser Stone countertops, to climate controlled living and bedroom areas and heated bathroom floors while outdoor patios offer breathtaking views of either Table Mountain, Hottentots Holland Mountains or the Atlantic Ocean”.