Luxury tower block for Sandton

Posted On Wednesday, 14 July 2004 02:00 Published by
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A LUXURY apartment tower block is to be built on a private 2ha park of trees and a lake in the Sandton central business district.

A LUXURY apartment tower block is to be built on a private 2ha park of trees and a lake in the Sandton central business district.

Kagiso Intaprop, which developed the Illovo Boulevard in Johannesburg, will start construction of the R300m, 23-floor tower block early next year.

Belgian architect Pierre Lombart and his team studied apartments in world cities for a year to design an equal in the Sandton central business district. Lombart says that in other world cities the greatest luxury is to have a private park.

Called the Sandown, access will be from Grayston Drive and will become part of the interconnected pedestrianised precinct.

Kent Gush, marketing director of Montagu Property Group, will handle the sales.

He says that up to 45% of buyers will be executives between 30 and 45 years old who want a city lifestyle.

Gush expects the next-biggest group of buyers will be people who want to downsize from their homes in Sandhurst, Inanda and Illovo. He says 20% deposits, structured over a period of a year, will be required and prices start at R2m.


Publisher: Business Day
Source: Business Day

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