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#Rialto Bay - ? floors - Mixed Use - Strand, Cape Town

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NAME: Rialto Bay
USE: Mixed Use

By Marco

Sixty percent of a mixed use development in Strand in the Western Cape has been sold.

Situated in South Africa's Western Cape, just 25 minutes from Cape Town's CBD, Strand offers all the progressive facilities one has come to expect - good schools, malls, clinics, endless retail outlets and a vibrant nightlife. At the same time it offers a more relaxed atmosphere.

Construction began in January 2008 and is set to be complete by the end of the first quarter of 2009. Rialto Bay is situated on the beachfront in Strand where the Rialto Cinema used to stand, and makes provision for a ground floor retail area of approximately 550sq m and an additional storage area of 110sq m.

Above the retail area are 30 upmarket Mediterranean style luxury apartments, catering to the needs of all by including wheelchair friendly ramps and a large lift. Selling from R1,895m (including VAT) with no transfer duty payable, buyers can choose from two or three bedroom apartments ranging in size from 97sq m to 234sq m. These sizes include balconies, two duplex and two triplex penthouses.

Additional store rooms are available to residential tenants, as well as single or tandem parking bays.

The price for new apartments on the beach front range from R17,010 to R27,574 per square metre.

"Finishes for all apartments are of superior quality and security within the building is reinforced with underground parking and 24-hour armed response security and concierge reception facilities," says F P Dos Santos, CEO of LKC Investment Holdings.

The finishes include granite tops for the kitchen and vanities, carpeted bedrooms and tiled floors in living areas and kitchens.

"The apartments have been designed around a central core so that you get 270° wrap around views of the ocean and mountains," says Eduardo Nunes, an architect at Van Riet and Mansvelt.
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Can Capetonians confirm if this is under construction already.
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