Rental demand far outstrips supply at luxury Citadel Constantiaberg
Demand for rental apartments in Citadel Constantiaberg, a high-rise block of 91 luxury apartments in the heart of the Southern Suburbs, has been unprecedented with not a single apartment now available to be let, says Ian Matheson, of Avon Chase Properties.
“In fact we alone are having to turn away about 25 would-be tenants a month and know other agencies operating in this area are faced with the same problem,” he said.
Matheson said the strong demand for rentals was in part due to the beautiful architecture and quality of the building, the spaciousness of the apartments and the on-site facilities including a swimming pool, beautifully landscaped gardens and high-level of security.
“But it is also no doubt due to its convenient location in easy access to leading schools and shops including Constantia Village Shopping Centre and the fact that this is the first high-rise apartment block to be built in the Southern Suburbs in 25 years and as such offers a unique opportunity for those who cannot afford to purchase to live in this sought-after area.”
He said about two thirds of the apartments in the seven-storey block, which was developed jointly by Avon Chase Properties and Rabie Property Group, had been sold to date with half of these to investors who had had no trouble letting their apartments.
“With the huge demand for rentals, coupled with the favourable interest rate climate and a variety of incentive packages we are offering investors, there could not be a more ideal time to purchase.”
Investors in certain units, he said, could chose from one of a number of incentive packages – including purchasing a furnished apartment at the same price as an unfurnished one or a R8000 plus guaranteed monthly subsidy.
Nestling in beautifully landscaped gardens, Citadel Constantiaberg has been designed with passion and flair in a classic contemporary style by award-winning architectural firm, Vivid Architects. Set over basement parking, the building has been orientated to maximise panoramic mountain views while penthouse apartments will also enjoy sweeping views from the False Bay coastline to Devils Peak
The studio, one, two and three bedroom apartments all have generous proportions and offer exceptional value for money. The light, bright, modern and sunny units vary in size from 43 square metre studios, to three bedroom penthouses of 142 square metres which also boast a 27 square metre terrace with a pergola and braai. One bedroom units average 68 square metres, two bedroom 83 square metres and three bedroom 117 square metres. In addition all apartments have their own private balconies.
Prices range from R865 000 for studios, from R1,550 000 for one bedroom units of 68 square metres, from R1,575 000 for two bedroom units of 80 square metres, from R2,295 000 for three bedroom units and from R3,150 000 for penthouses of 139 square metres with the top of the range penthouses selling from R3 150 000.
The interior layouts have been designed in clean classical European lines giving an upmarket and spacious ambiance.
Additional attractions include watertight security measures including perimeter fencing and 24 hour manned access control, undercover parking for residents, a communal laundry and boutique gym as well as DSTV and internet connectivity for each apartment.
The development has two access gates, one leading off Boundary Road and the other via Birmingham Road off Main Road.
Great attention has been paid to landscaping which varies from natural river bank planting on the upgraded banks of the river to more formal gardens around the recreational swimming pool area. A paved piazza with bougainvillea-clad pergolas for visitors’ parking and an enclosed seven-storey high atrium allowing light to flood into the entrance foyer all add extra appeal.
Four furnished apartments will be on show this Sunday.
For further information contact Ian Matheson on 083 261 5646.