The demand for property in areas such as La Lucia is ever-growing, and seeing opportunity within spaces that already exist, with no space still available, is the key to meeting this demand. It is in saying this that it is no wonder that JSE-Listed Growthpoint Properties has seen the need in the residential market and have released their first-ever residential development in KwaZulu-Natal.
Set to stand tall above La Lucia Mall, one of JSE-listed Growthpoint Properties’ oldest retail assets in north Durban, Kent will look over the suburb’s landscape; forming part of the holistic development plan for the mall itself.
“The development, Kent, consists of 63 modern residential apartments in the sought after La Lucia suburb, offering first time buyers and investors the opportunity to acquire property at affordable prices. The overall development totals roughly R142mil which will further enhance and stimulate the Growthpoint owned La Lucia Mall supporting Growthpoint’s vision to diversify and stay on trend with the ever-changing property market,” says Kobus Blom, Growthpoint’s Regional Development Manager.
Growthpoint plans to turn the mall into a complete 360 integrated lifestyle that will see apartments and office space, making it the first-of-its-kind in the La Lucia area. The mall is Growthpoint’s most valuable retail asset in the province, worth more than R1 billion. As part of the bigger development plan, a significant R70 million refurbishment of La Lucia Mall itself was completed last year.
“The prime location and surrounding suburbs lend itself to an upper-end residential development. An in-depth market research study done by Rainmaker Marketing highlighted the shortage in residential properties in the La Lucia area,” Blom says.
While the exterior of Kent blends with the neighbourhood aesthetics, you’ll be met with internationally inspired home designs. Kent introduces New York-style, urban 1, 2 and 3-bedroom apartments from R1, 6 million. Each apartment enjoys ample natural lighting and ventilation, including a separate laundry drying area. Boasting open-plan spaces, exposed brick features, and unique semi-industrial interiors, Kent creates a trendy, modern home, unlike any other residential offering in the La Lucia area.
All upper floor units boasting balconies overlooking magnificent sea views, while ground-floor units have gardens. The development will be situated directly across the road from the public park, which will be maintained and secured by Growthpoint.
“Our vision is to make life at Kent as simplistic as possible. You need only to step outside your door to capture the essence of life and explore your neighbourhood. Just an elevator ride away from the resident pool and entertainment area, Kent will be your haven to escape to unwind,” ends Blom.
Construction is anticipated to commence later this year, with completion of the development expected by September 2022.
Kent sales are managed by Pam Golding Properties.