Fourth block in Oasis Luxury Retirement Resort tops out
Construction of the 11-storey Palme d’Or, the fourth luxury apartment block in the Oasis Luxury Retirement Resort in Century City, has topped out with building on schedule for practical completion in June 2016.
With seven months still to go, 46 of the 50 apartments have already been sold for a total consideration of over R194million representing 88% of both the number of units and the total sales value and a further two units are under negotiation.
Owen Futeran, a director of the Oasis Joint Venture, which comprises the Rabie Property Group and a Harries Projects consortium, said this was highly unusual for a retirement product.
“The tempo of sales has picked up tremendously in recent years since buyers have been able to see the high quality of what we are developing in terms of the apartments and what has been developed to date in terms of the communal facilities including the Club House and the 110-bed Care Centre.”
He said resales at Oasis were also very buoyant with 12 apartments having been resold so far in 2015 for a total consideration of around R35million.
“After the deduction of agent’s commission this represents a capital growth of more than R7million for buyers with around 20% of this profit being paid over to the Levy Stabilisation Fund.”
In fact, he said, since 2010 there had been 38 resales totalling R120 million and representing a gross profit of more than R26million with a total contribution of more than R5million to the Levy Stabilisation Fund.
“The number of resales has been escalating as the Resort grows and matures and correctly priced apartments are selling relatively quickly and good capital growth.”
All apartments boast quality finishes and air conditioning while most have utility rooms and the one bedroom apartment has a study.
All apartments will have at least one basement parking and most of them will also have a store-room included in the price.
Palme d’Or will be serviced by two lifts and a 24 hour dedicated concierge, and will be linked undercover to the Oasis Club, the facilities of which include a 25m indoor heated pool where regular water aerobics classes are given by a qualified teacher, a massage room, sauna, steam room, a gym, a library, lounge areas, a restaurant, bar, bridge room, billiard room and a new, large multi-purpose recreational/entertainment venue and very popular coffee bar with a patio overlooking ponds and beautiful landscaped gardens.
For further details contact Cindy, Linda or Lorenda on 021 2500592/3.