Several milestones have been passed in the transformation of The Ambassador Hotel in Bantry Bay in Cape Town into one of the most luxurious and sophisticated residential developments yet to be seen in Africa.
The Aurum development in Cape Town's Bantry Bay aims to combine opulence and nature to culminate in lifestyle artistry, with luxury apartments selling from R13 million to R98 million - click here to view.This is according to Ahsan Hassan Darvesh, Presiden of Da’Realty, who says the City of Cape Town approved plans in April 2016 for the landmark property to be developed into eight presidential residences - each occupying its own floor with private lift access.
The building, situated on the mountainside of Victoria Road, currently housing the hotel’s executive suites, will also evolve into 15 luxurious apartments capped by a show-stopping 530sqm four bedroom penthouse.
Being undertaken by global property investment company Da’Realty, part of the 107-year-old, family-owned Darvesh organisation, Darvesh says the development will be known as Aurum, symbolising gold and radiant light.
Darvesh says he bought the hotel after a lengthy stay during which he realised the potential of the spectacular cliff-face site with the Atlantic Ocean undulating below and Lion’s Head gazing down upon it.
Pam Golding Properties has been awarded an exclusive agency sales mandate, complementing a pre-launch announcement and marketing by Da’Realty. Sales of 60% of the development are already secured.
“Aurum will redefine the concept of limited-edition living in South Africa,” says Basil Moraitis, Atlantic Seaboard area manager of Pam Golding Properties.
“Da’Realty is focused on finding locations that exude innate investment qualities, and in taking luxury development to a new level - promising not only luxurious living, but also high returns,” says Darvesh.“Its timeless style and incomparable quality will put it on a par with the very best in New York, Dubai and London.”
Da’Realty Chief Operating Officer, Lily Eskandari, an interior architect currently based in Cape Town is to oversee the development, says a survey of the building will be undertaken during May 2016, with construction scheduled to start in June. Occupation is set for September 2017.
Orders have been placed with some of the most exclusive international manufacturers to ensure that Aurum is in an uncompromising class of its own - Armani Dada-designed kitchens, dressing room fixtures and fittings by Molteni & Co., Gessi sanitaryware, sound and visual systems by Bang & Olufsen and designer appliances by Gaggenau.
Darvesh says they have already built well-established relationships with over 100 famous luxury brands such as Dior, Chanel and Dolce & Gabbana.
“These links are based on high-end turnkey projects undertaken by the group’s subsidiary, Elegant,” he says.
“It designs, manufactures and installs shop fittings for such brands around the world through its provision of creative, high-quality glass and furniture-fitting solutions for design and architectural industries.”
Darvesh says the reception areas will be adorned with fine glass and crystal chandeliers. Other features will include a luxurious spa, restaurant, 24-hour valet and concierge services and beautifully landscaped grounds around a feature pool.Darvesh says this expertise will be utilised in the Aurum, creating features such as a cascading waterfall on the street-facing façade of each of the two buildings, linking them architecturally and hinting at the luxury within.
The reception areas will be adorned with fine glass and crystal chandeliers. Other features will include a luxurious spa, restaurant, 24-hour valet and concierge services and beautifully landscaped grounds around a feature pool.
Da’Realty has appointed Fabian Architects, engineering and construction group Murray & Roberts, and luxury home development company Metle to implement its ambition to maximise the potential of this exclusive address - under well-established Da’Realty brand guidelines.
“Our vision is to combine opulence and nature to culminate in lifestyle artistry,” says Darvesh.
”Only a true work of art could pay homage to this incredible setting. Aurum will redefine the concept of limited-edition living in South Africa.”
The building, situated on the mountainside of Victoria Road, currently housing the hotel’s executive suites, will also evolve into 15 luxurious apartments capped by a show-stopping 530sqm four bedroom penthouse.He says high-net-worth investors seek environments that offer rare levels of scenic beauty, as well as exceptional opportunities for leisure and pleasure. They also want easy access to art, culture, sports and fine dining.
“Da’Realty is focused on finding locations that exude these innate investment qualities, and in taking luxury development to a new level - promising not only luxurious living, but also high returns.”
Darvesh says Aurum will be followed by a development in Clifton, with a goal of one niche boutique project annually in South Africa.
“Aurum is a location - and brand-conscious buy,” says Moraitis. “This is a trophy prospectus that we are offering to our international database through our network in Africa and the Indian Ocean islands, and with our partner Savills.”
Sea-facing presidential apartments range in size from 270sqm to 600sqm, with prices starting at R110 000 per square metre up to R140 000 per square metre.
Products from some of the most exclusive international manufacturers will ensure that Aurum is in a class of its own - Armani Dada-designed kitchens, dressing room fixtures and fittings by Molteni & Co., Gessi sanitaryware, sound and visual systems by Bang & Olufsen and designer appliances by Gaggenau.On the mountainside of Victoria Road, the luxury residential units range from 140sqm to 550sqm. Each floor houses a maximum of three units, with prices ranging from R95 000 to R120 000 per square metre.
Taking this into consideration, units will be priced from R13 million to R98 million.
Plentiful parking is available on one level of the presidential development, two levels of the mountainside development, as well as 10 additional visitor parking bays.
The secluded location lays claim to almost 300 wind-free days a year, with Clifton’s world-famous beaches only a few minutes’ stroll away. Residents of Aurum also have easy access to top restaurants, the V&A Waterfront and the city’s financial centre.
For more information, click here.
