Waterfall City, Gauteng
Hotels
Details
Total GSA / GLA*m2: 15 434
Effective GSA / GLA* m²: 3 082
% pre-let/ pre-sold: >85.0
% completed Jun 2022 (excl land): 40.0
Estimated practical completion date: Q4 FY23
Effective estimated capital cost R’000: 57 500
Effective estimated value on completion R’000: 78 749
Book value at Jun 2022 R’000: 33 246
Description
Ellipse Waterfall, located on a prime city gateway site opposite Mall of Africa, is a co-development with Portstone.
Ellipse Waterfall will on completion comprise four deluxe high-rise towers, named after celebrated astronomers: Newton, Kepler, Cassini and Galileo. Newton and Kepler towers (Phase 1, 270 units), a 50/50 undivided share with Portstone was completed during FY21 and 236 units have been transferred.
The completion of the Cassini tower (Phase 2, 185 units) is expected in Q4 FY23 with more than 85.0% of units pre-sold. The marketing launch of Galileo tower (Phase 3, approximately 145 units) is planned for October 2022. Attacq’s interest in Phase 2 and Phase 3 is 20.0%. Phase 1 has achieved a 4-star GBCSA multi-unit rating (by design and as built) certification, with the rest of the development targeting the same certification.
