Property investment: Triple-storey Sandton penthouse on the market for R250m
Leonardo hits new heights Three luxury penthouses with price tags of R45m apiece have already been sold off-plan at exclusive mixed-use development, The Leonardo, which is set to become Sandton’s tallest building on completion within two years. 190 apartments with a total sales value of R1.1bn have been sold at the Legacy Group’s and Nedbank’s new skyscraper, which is under construction in Maude Street, a stone’s throw from the JSE. Six of the building’s proposed 42 storeys have been completed. Legacy Group sales director Gijs Foden says the development is already sold out up to the 33rd floor. When The Leonardo was first launched just over a year ago, prices of one-bedroom apartments started at R3.2m including Vat (or R45,000/m2). Apartments spanning floors 28 to 31 were recently brought to the market at R4.1m-R16.m including Vat. Eight penthouse apartments sized between 540m2 and 600m2, of which three have already been snapped up, are selling for between R40m and R45m. Foden says ...
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