Attacq Ltd (Attacq) the JSE listed REIT developing Waterfall City, and Waterfall Logistics Hub, in partnership with property developer, Tricolt, has announced the breaking of ground at Ellipse Waterfall, the first high rise development within Waterfall City.
Comprising four luxury high-rise towers, named after celebrated astronomers Newton, Kepler, Cassini and Galileo, the R1.25 billion development has exceeded market sales expectation despite the country’s prevailing economic challenges. Since its launch in November 2018, over 80% of the 272 apartments in the Newton and Kepler towers have been sold, and a waiting list for the final two towers is steadily growing. This is a total value of R550 million in sales to date.
“We believe that Ellipse is poised to redefine the live, work, play ethos in Gauteng. Based on the premise of excellence in infrastructure, safety and sustainability. Waterfall is a fully contained, mixed-use node that encompasses a variety of lifestyle, residential and commercial needs. Ellipse is at the heart of this exciting new metropolis offering the only luxury high-rise apartments in the precinct,” says Giles Pendleton, chief development officer at Attacq.
Designed by dhk Architects, Ellipse is being built on 17 000 m² of land and has been carefully curated with the user experience in mind.
Tricolt chief executive, Tim Kloeck, says: “Each towers’ height is different. Newton has 10 storeys, Kepler has 11 storeys, Galileo 12 storeys and Cassini 16 storeys. The result is remarkable views from every apartment – looking out onto the Magaliesberg or across to the Sandton skyline.”
Attacq chief executive, Melt Hamman, says: “Waterfall is situated on the business corridor between Johannesburg and Pretoria, and is supported by two Gautrain bus routes, private schools, a private hospital and has world-class lifestyle and leisure amenities on its doorstep. This makes Ellipse a compelling proposition to discerning investors looking for long term capital growth and secure rental yields.”
Ellipse Waterfall phase one is scheduled for completion in mid-2021.