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Tallest residential development in Cape Town CBD launched

Feb 26 2017 17:34

Cape Town - The new development 16 on Bree in Bree Street, Cape Town, will soon be home to the tallest residential development in Cape Town’s central city.

Pam Golding Properties (PGP) is marketing this luxury lifestyle development. The 36-storey retail and residential project by FWJK Development is expected to be completed by December 2019.

"The new ‘16 on Bree’ forms part of the latest wave of development and redevelopment sweeping the central node, helping place Cape Town on a par with cities such as New York, London and Hong Kong,” says Dr Andrew Golding, chief executive of the PGP group.

“This is testament to the long-term vision of the city, developers and investors alike, who have embraced its potential and demonstrated sustained confidence in the area’s long term future.”

Laurie Wener, PGP senior executive for developments in the Cape region, says buyers are looking for urban living with secure parking and convenient access to the best the city has to offer.

"The 16 on Bree development places residents in the heart of hip Bree Street, with its art galleries, antique shops, artisan restaurants and contemporary bars. Bree Street has become a destination in its own right - reflecting the diversity and creativity of Cape Town.”

Bree Street already offers regular events such as “First Thursdays”, where people can frequent art galleries and eateries until late, and “Open Streets” where the road is for reserved for pedestrians.

16 On Bree is also within the city’s Urban Development Zone which entitles purchasers who let out their apartments to claim the UDZ accelerated depreciation benefits. Wener says this is an attractive benefit for investors who are, in effect, obtaining an interest-free loan from the South African Revenue Service over an 11-year period for repayment from the proceeds of the resale of the apartment.

Variety of units

The development offers a range of units: studio apartments from R1.5m, one bedroom units from R1.9m and three bedroom units from R7m. The penthouse apartments with four bedrooms start at R13.9m.

Residents will have access to the swimming pool and recreation facilities on the 27th level and an outdoor gym. A day crèche is planned to provide for the growing number of working parents moving to the city.

In keeping with the heritage grading of the HHO and Felderman buildings on the site, the development has been designed to include historical elements in the facade. Meanwhile, the street level design will reflect the urban landscape seen elsewhere on Bree Street and the double-volume colonnade along Prestwich Street will be for pedestrian access only.

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pam golding properties  |  cape town  |  property

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