A new high-rise luxury residential development – with 23 penthouses – just hit a billion rand in sales
Attacq, the JSE-listed REIT developing Waterfall City and its JV Partner, Tricolt, have announced that total sales for the Ellipse Waterfall development have exceeded R1 billion.
To date, 337 units have been sold in Ellipse Waterfall which is one of the largest luxury sectional title developments in South African history. The first phase, consisting of the Newton and Kepler towers, is nearly 80% completed with the development on schedule, despite construction delays because of the lockdowns.
Construction of the second phase is imminent and includes the flagship building, Cassini, the tallest of the four towers to be completed by the end of 2022.
Ellipse offers 23 penthouses of which 12 have already been sold, including one valued in excess of R50 million. This three-floor penthouse comprises a spa, five bedrooms with en suite bathrooms, walk-in dressing rooms and a cinema.
Residents will have exclusive access to the Luna Club, a multi-concept lifestyle destination, offering premier experiences and services, ranging from access to the indoor gym, a boutique spa, temperature-controlled swimming pools as well as a wellness centre. Additionally, the development has a business centre with boardrooms and conference rooms, and a cigar and whiskey lounge.
“We are proud of the work done to date and humbled by the positive response we’ve received from the public at large. In just the first two months of 2021 we sold 23 apartments valued at over R64 million.
“We believe that Ellipse’s combination of resort-style elegance, world-class amenities and accessibility to the broader Waterfall precinct has made it a compelling investment case for property investors and aspiring homeowners. I have no doubt that this project will continue to break records and achieve unparalleled success,” says Tim Kloeck, CEO of Tricolt.
Ellipse Waterfall is being built to high green design and sustainability standards, while the buildings are predominantly framed in reinforced concrete. It utilises reinforced steel with a recycled content of over 90% to reduce the bodied energy and resource depletion associated with the reduced use of virgin steel.
To reduce the emissions associated with transport, 20% of the project ‘s total contract value is represented by materials or products that have been sourced from within 400km of the site.
Additionally, a selection of insulants that reduce energy consumption and do not contribute to long-term damage to the earth‘s stratospheric ozone layer was used for all thermal insulation applications.
Construction of phase two is expected to take 18 months and will conclude towards the end of 2022. Upon completion, Ellipse Waterfall will offer 590 apartments set in four towers in the heart of Gauteng’s fastest growing business node.
Read: Waterfall City development forges ahead – including a ‘new concept’ Courtyard hotel
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