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New Developments
Award Winning Apartments Rise to New Heights
In a time of cutbacks, shortages and economic belt-tightening comes some great news for the property market - the award-winning Rialto Bay apartment complex is expanding!
Overlooking the ocean in the Strand’s Beach Road, this stunning, Mediterranean style development was initially created with a ground floor retail area of ±440m² and an additional mezzanine area of ±110m2.
However, LKC Investment Holdings who have developed Rialto Bay in association with Invest Afrique, have recently taken the decision to reach for even greater heights.
Mr. F P Dos Santos, CEO of LKC proudly explains; “The expansion is a very exciting time for us. The retail space has increased from its original size and Rialto Bay is now fully two floors taller. Every apartment is now one floor higher, so a first floor apartment is now on the second floor and so on, right up to the executive penthouses.”
50% of the construction has already been done, including all formwork, with completion scheduled for the end of August 2009. The complex boasts a full basement and mezzanine parking levels with single or double parking bays, wheelchair friendly ramps and a large lift. Additionally store rooms which are usually for retail use can be made available to residential tenants.
Dos Santos continues “ We had previously sold out over 60% of the apartments. However, since we have now expanded the complex, the number of available apartments has gone up accordingly. We now have a total of 13 units left for sale, 4 front facing and 9 at the rear.”
Designed around a central core by architects Eduardo Nunes of Van Riet and Mansvelt and Abrie Jordaan of Jordaan Architects, every apartment has either uninterrupted sea views or sea and mountain views.
Rialto Bay apartments are selling from R1, 895,000, with no transfer duties payable. Buyers can choose from 2 or 3 bedroom apartments ranging in size from 97m² to 234m², with options that include balconies with built in barbeques. There are also 2 duplex and 2 triplex penthouses.
Finishes for all apartments include granite topped kitchens, luxurious carpeted bedrooms and porcelain tiled floors in living areas and kitchens. Security within the building is reinforced with underground parking, 24-hr security and concierge reception.
The development has not gone unnoticed by the international property community, as Rialto Bay recently won ‘Best Apartment’ at the CNBC Europe Property Awards within the category for Africa and Europe.
“We are absolutely thrilled with this award,” says De Santos. “Our aim has always been to create top end value for our customers and investors and Rialto Bay is a perfect example of this.”
For more information on this progressive apartment complex, contact Ari Laspatzis on +27 (0)82 573 4171 or +27 (0)21 424 4325 l visit www.lkcholdings.co.za.
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WIN!
