The demand for mixed-use residential precincts such as Harbour Arch is likely to intensify in the next few years, as prevention measures in a post-pandemic reality make controlled-access living, offering a range of amenities, even more desirable.
“The pandemic has certainly changed the way we choose to live, work and play, and Harbour Arch will be on a par with international mixed-use precincts, such as Canary Wharf in London, that combine urban living with excellent facilities, “ says Mariël Burger, Pam Golding Properties agent for the Mouille Point, Waterfront and Foreshore areas. In fact, living at Harbour Arch will be akin to owning a property in one of South Africa’s luxury lifestyle estates. These estates, offering an enviable lifestyle and upmarket facilities, are always sought-after, especially at the upper end of the market. According to research group New World Wealth, more than 40% of South Africa’s High-Net-Worth Individuals live or own property in an estate.
“Savvy buyers see the value of investing in a residential development that will allow them, or their tenants, to live in an environment where it’s possible to social distance, implement health and safety precautions and enjoy an optimal living experience,” says Burger.
Also, with more people spending time at home now that remote working has become prevalent, quality of life has become a key consideration when buying or renting a property. “Harbour Arch ticks all the boxes when it comes to embracing the live-work-play lifestyle that has become a global trend” adds Burger. When complete, the Amdec Group’s 5.8-hectare precinct will comprise six towers surrounded by landscaped public spaces brimming with shops, two international hotels, offices, health clubs, restaurants and cocktail bars.
Burger says mixed-use precincts appeal especially to young professionals who would rather pay for convenience and safety, than spend extra on fuel and utility costs to live in the suburbs. They are also attractive to buyers wanting to downscale the size but not necessarily the value of their properties. With superlative finishes, the professionally managed Harbour Arch offers a compelling lock-up-and-go lifestyle. Most of the units in the first residential tower have been sold, but there are a few two- and three-bedroom units still available, including a three-bedroom unit of 109m2 with magnificent mountain views listed for R6.05 million, and a courtyard-facing unit with three bedrooms, on the 21st floor, for R7.05 million.
Excellent progress has already been made on the bulk earthworks of the R14 billion development set to transform Cape Town’s Foreshore, and the first residential tower is scheduled for competition and handover in early 2023. While the global pandemic may have slightly pushed out completion of this first phase, it has highlighted the many advantages a development of this scale can offer. Melrose Arch, the Amdec Group’s flagship mixed use development in Gauteng, has shown how residents have been able to procure essentials, while enjoying controlled leisure activities during lockdown without having to leave the precinct. Harbour Arch will offer the same convenience in a walkable, professionally managed environment, says Burger.
With interest rates at record lows, and indications of yet another repo cut on the way before the end of the year, it really is the ideal time to invest in this iconic gateway to Cape Town’s CBD, says Burger.
For more information, contact Mariel Burger: 082 372 2573 or firstname.lastname@example.org
Posted by The Know - Pam Golding Properties
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