Pretoria - Balwin Properties, one of the largest sectional title homebuilders in South Africa, has already achieved pre-sales of 240 apartments in its first development in the Waterfall node.
This follows the company last year acquiring development rights in Waterfall, comprising three separate land parcels, for R1.5billion that will enable it to develop about 15500 sectional title apartment over the next eight to 10 years.
A host of commercial and residential developments have already been completed in Waterfall, including the R5bn Mall of Africa, which opened its doors to customers in April last year.
The Polofields, the first of the land parcels that will be developed by Balwin Properties, will comprise 1512 sectional title upmarket residential apartments once completed.
Balwin chief executive Steve Brookes said last week that demand had been exceptionally strong and The Polofields had achieved more than 240 pre-sales to date.
Apartment prices in The Polofields range from R2 million for a two bedroom, two bathroom apartment, to R2.12 million for a three bedroom, two bathroom apartment.
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Brookes said Waterfall was a high growth node in Gauteng and one of the most desirable areas to be developing in.
“The Polofields offers an unparallelled opportunity to the market to acquire a prestigious upmarket apartment in a secure estate situated in a prime location. The estate offers easy access to freeways, public transport, rail amenities and work opportunities in the Waterfall CBD.
Infrastructure
“We will continue to work closely with the communities and authorities to bolster the supporting infrastructure that will undeniably make Waterfall the place to be for decades to come.
“We anticipate high demand for our apartments to be sustained throughout every phase of our upcoming developments in this new node for Balwin while we continue to expand our presence in Gauteng, Cape Town and beyond,” he said.
Brookes added that in line with Balwin’s phased build-to-sell business model, the estate would be developed over several phases according to demand.
He said that the estate was a high specification and slightly different to Balwin’s typical model, with each apartment block consisting of three levels and offering investors a choice of three layout types.
Three bedroom apartments range in size from 114.8m² to 118.4m², with each allocated two parking bays.
Brookes said the apartments were certified with the Green Building Council of South Africa on the basis of energy, water efficiency and building material sustainability while all lighting was energy efficient, with gas hobs fitted in the kitchens and all hot water systems gas operated.
Amenities in the estate will include a lifestyle centre, gymnasium, restaurant, laundromat, wellness spa, squash court, function room, cinema room, swimming pool, children’s outdoor cinema and games room, eco car wash and a yoga deck. The other residential estates in Waterfall to developed by Balwin are Waterfall Fields and Waterfall Ridge.