Luxury high-rise apartments to be developed in Waterfall City
Ellipse Waterfall, a partnership between JSE-listed Attacq and Tricolt, will bring urban luxury living to one of Gauteng’s fast-growing business nodes
Nearly a decade into its life, Attacq is building residential assets in the Waterfall precinct for the first time.
JSE-listed Attacq, which owns Mall of Africa and the PwC office tower, has partnered with Tricolt, a leading property development company, to launch the first high-rise luxury apartments in Waterfall City.
If these succeed, other residential assets will be added to the precinct.
Ellipse Waterfall is set to bring urban luxury living to one of Gauteng’s fast-growing business nodes.
Residents will be able to select from executive one-bedroom apartments (starting from 44m²) to flagship three-bedroom duplex penthouses, offering up to 327m² of living space, including private rooftop gardens and heated pools. Prices will range from R1.49m to R12m.
“For Attacq, our focus is to provide capital growth and distributable earnings by leveraging our four value drivers, the most notable of which is our Waterfall development. Ellipse represents a natural next step as we look to diversify the residential offering within Waterfall City and expand on our work, live, play value proposition,” said Melt Hamman, CEO of Attacq.
The development is comprised of four towers, the Newton, Kepler, Da Vinci and Galileo, totalling 590 apartments. The first phase of development is set to be completed by 2021.
Tim Kloeck, CEO of Tricolt, said that Ellipse Waterfall offered an attractive value proposition.
“Valued at R1.2bn, and located in the heart of the city, Ellipse Waterfall will provide secure, lock-up-and-go type convenience whether bought as a home or buy-to-let investment.”
Giles Pendleton, head of development at Attacq, said this was needed at Waterfall.
“Waterfall’s expansion into the residential space was both strategic and necessary, which is why we entered into a joint venture with industry leaders, Tricolt.
“They are renowned for their superior developments built to the highest quality, and their ability to deliver on time and within budget. We believe that with this addition to our residential offering, the precinct will finally cement its place as Gauteng’s most prestigious mixed-used precinct,” he said.