Picture: THE SUNDAY TIMES
Picture: THE SUNDAY TIMES

Cape-based Rawson Developers is undertaking their largest and most ambitious development as they turn 25, by launching an 11-storey luxury apartment development in Newlands, the home of the Mother City's original cricket and rugby stadiums.

Newlands and its surrounds are becoming a new central business districts (CBD) in Cape Town's southern suburbs. 

Head of marketing at Rawson, Brad Morgan, said Newlands Peak would create investment and living opportunities for people who recognised potential in the area.

"Newlands and Claremont already have a financial district. We believe Newlands Peak can attract professionals who work at the asset managers and other financial service groups based in this part of Cape Town," Morgan said.

As many as 232 apartments at Newlands Peak will sell for between R1.35m and R13.2m, with penthouses priced at the upper end.

The apartments will be located across eight floors. There will also be two floors of penthouses, a rooftop deck and two heated swimming pools, a coffee shop and a restaurant. All of the apartments are pet friendly.   

Rawson says it has focused largely on developing in the southern suburbs.

"One of the main reasons we have focused on this area is because of the consistent demand and capital growth there. We are able to offer great value for money," said Morgan.

"We recently had a major focus on the suburb of Observatory because a lot of the area falls within the Urban Development Zone. This allows our investors who purchased in these particular developments to be able to claim up to 55% of the purchase price as a tax deduction. The southern suburbs are also close to the University of Cape Town and and its medical campus so the demand for accommodation — both to rent and buy — is further stimulated by the development's proximity," he said.

Newlands Peak is expected to be completed in three years’ time.

Rawson has also developed The Winchester, Rondebosch Oval, The Westwood and Madison Place.

andersona@businesslive.co.za