1 On Albert - Cape Town's' First Ever Micro-Living Apartments - Has Broken Ground
Category Press - News
Cape Town, South Africa: 1 On Albert in Woodstock, Cape Town's pioneering micro-living development, has broken ground and construction is underway. Ironically, the biggest crane in the Western Cape has been brought on site to assist developers give birth to what will be the first micro apartments in the City.
Once completed, the apartments - which were designed by award winning architects Louis Karol and the interiors designed by leading hotel room designer Grant Gillis - will range in size from entry level 21 square metre studios, at a cost of R985 200 (VAT Incl), to 75 square metre two-bedroom units, at a cost of up to R2,650 million - with no transfer duty. All the apartments will feature top-end finishes such as SMEG appliances, flat screen smart TV's and uncapped fibre internet.
1 On Albert will also feature communal recreational spaces, shops, a food court, laundromat, heated swimming pool and more - all part of a new conceptual design in living known as integrated living solutions which incorporates all the elements needed for inner-city living without actually having to leave the building," explains DG properties, who are marketing the development in association with AJ Holdings and Power Group. JLK Construction are the builders of 1 On Albert, and FNB is the bank financing the development who have further confirmed that 5% deposits are acceptable as long as the unit is under R1.7 Million gross.
"Millennials are prepared to sacrifice space and purchase smaller meterage units If the location is right. They want to be close to the city centre, close enough to walk, bike, or rely on public transportation. 1 Albert Road is located on the MyCiti bus route and with an Uber point at its doorstep. 1 on Albert has shown that it is the answer to first-time buyers looking to get their foot in the door, and sales have been consistent, despite being in a tough market," says DG Developments.
"Woodstock is undergoing an urban renewal with many exciting new buildings, as well as new businesses moving into the area, making it a hip and happening neighbourhood that is filled with plenty of interesting places and people."
1 On Albert is expected to be completed by December 2020 and a show unit has been constructed on-site, complete with all fixtures, finishes and furnishings for viewing purposes. For further information visit http://www.dogongroup.com.
Author: Property 360