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PGP awarded exclusive sales mandate on Aurum development

Aurum exterior (former Ambassador Hotel)In April the City of Cape Town approved plans for the Ambassador Hotel in Bantry Bay to be developed into eight residences, each occupying its own floor with private lift access. The building currently housing the hotel’s executive suites (on the mountain side of Victoria Road) will also be re-developed. This building will house 15 luxury apartments with one four-bedroom  530m² penthouse.

The development, known as Aurum, is being undertaken by global property investment company Da’Realty and will offer high-end,  exclusive design features such as 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.

The development will be overseen by Da’Realty Chief Operating Officer, Lily Eskandari, an Interior architect based in Cape Town for the duration of the re-development. Eskandari said a survey of the building would be undertaken during may 2016 with construction scheduled to start in June 2016. According to Eskandari occupation is set for September 2017.

Pam Golding Properties was awarded an exclusive agency sales mandate, complementing a successful 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,” said Basil Moraitis, Atlantic Seaboard area manager of Pam Golding Properties.  “Its timeless style and incomparable quality will put it on a par with the very best in New York, Dubai and London.”

The Aurum re-development is likely to be followed by a development in Clifton, with one niche boutique project being developed in South Africa annually by Da’Realty.

Photo: Aurum exterior  – redeveloped former Ambassador Hotel.

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