#Heritage Quay - Mixed Use - 5F - Durban Point

[Luf]

NAME: Heritage Quay
LOCATION: Durban Point Waterfront
STATUS: Proposed
FLOORS:5F
HEIGHT: ?
USE: Mixed (Hotel, Shops, Residential)

"Heritage Quay Apartments and Heritage Quay Hotel are positioned amongst restaurants and shops along the canals. This offers not only convenience, but an exciting and stimulating environment to live in. These single bedroom apartments exude gritty contemporary industrial character whilst offering the ultimate in modern convenience and state of the art technology. This is the essence of what waterfront living - with modern day amenities and secure parking immediately accessible within the development."

*1 bedroom residential apartments
*All with canal views
*Outdoor public spaces
Starting from R 795,000-00.

*1 bed studio suits
*All with canal or harbour views
*Hotel operated by Three Cities Hotel Group Ltd
*Owners entitled to 30 free nights in their unit per calendar year
Starting from R 635,000-00.
Retail and Office spaces
Starting from R 975,000-00

[Durbsboi]

wtf, when did this happen? are emmet & emmet still the architects on this job? I still got there plans lying in my office some where, but can garuntee you this wasnt there.

[dysan1]

cool cool...so where is this in relation to Heritage square????

[dysan1]

love the industrial steel and brick look

[Luf]

Originally Posted by dysan1

cool cool...so where is this in relation to Heritage square????

Its across the road - Heritage Square is on lot 3.7 and 3.8 - on Point Road.\

Norman F is the man to ask the questions - he is involved with this.

According to an email i recieved, Heritage Square should start construction in August - lets see if that happens though.

[dysan1]

Interesting, there has been no info on this in the press at all which is wierd.

other thing is that its the same developer and all as Heritage square. Will the two hotels be linked or will they be two separate entities??

PS where did ya get the pics? thanx for posting mate, good to see some more projects, i will feel better tho when they are rising

[SYDNEY]

Very, very nice ... Cape Town does the Industrial-chic look so well I would love to see the finished product.

[NORMAN F]

Not launched yet, but not far away will keep you posted

[Luf]

Originally Posted by NORMAN F

Not launched yet, but not far away will keep you posted

Ah come on Norman im sure you can tell us a little more about the this development Pleeeeeeeeeeeez! Give us something mate, anything!

Are you guys going to be (responsible for) building the canal?
Is it all the same guys as Heritage Square?

Really excited about this - A new development for Point is going to be awsome plus the canal is being expanded - This is really going to compliment Heritage Square and the whole develpment.

Here some more pics:

This is the Hotel Component


Here is the residential Componet. One bedrooms (quite small) but really nice for a younger couple or just for a small holiday spot


BTW: A good mate of mine recieved this via email - I think his folks have bought at Heritage Square so he is on their mailing list - he pasted them on to me to put here.

[dysan1]

greatn stuff mate...i am really liking this one...any idea on the size of this hotel and the size of the heritage square hotel?

The area needs hotels to open to start bringing it to life, as it is a proven fact that when hotels open their doors in an area it immediately starts coming life, alot quicker than residential apartments do.

[e22sky]

good!

[NORMAN F]

Still early days developer holding back launch as we still need a few sales in Heritage Square to reach trigger.

Suites still selling well dispite the general stagnation in The Point Waterfront and the credit crunch.

I put this down to the superior returns on hotel income as apposed to residential units, projections show a bond liquidation in year 10 with 10% equity.

[Luf]

Thanks Norm!
Please keep up us updated on both projects.

[Durbsboi]

Norm are you working on just this project? do you know whats going on with Heritage square?

[dysan1]

yeh the VERY VERY long delays on heritage square do not fill one with confidence in the developer

[NORMAN F]

Originally Posted by Durbsboi

Norm are you working on just this project? do you know whats going on with Heritage square?

The southern portion of Heritage Square has been designated phase two and possably a commercial element.

In phase one the loft suites on the Point Road side of the development have been scraped and replaced with smaller suites, this makes sence as the lofts were not moving and the demand for the smaller units strong.

The web site will be re-launched next week with the new floor plans

[Durbsboi]

cool, thanks for the info, any idea if emmet & emmet are still the architects?

[Luf]

Norman - as all the appartments are one bedroom,
Is that not going to be difficult to sell?

Hows heritage square coming along? when we going to see ground breaking?

[NORMAN F]

Originally Posted by Luf

Norman - as all the appartments are one bedroom,
Is that not going to be difficult to sell?

Hows heritage square coming along? when we going to see ground breaking?

The two bedroom loft suites were not moving this is why we have restructured them into smaller suites.

The project is geared to income opportunities on a hotel revenue base, income should cover bond repayments and running costs, liquidating the bond in 9-10 years.

Where as rented residential units in the area require a substantial subsidy to cover bond and levy costs

[Luf]

thanks very interesting.

How have sales been in Heritage Quays?
I am sorry to tell you this but marketing is very poor. No press on it and not even a website?

Norman, Heritage Square: whats happening mate? You said you would break ground in August but has anything happened? I am very excited for this one!