Sandton’s tallest building lives in a world of its own
The pièce de résistance is a 3,300m² triple-storey penthouse that is on the market for a whopping R250m
The Legacy Group and Nedbank’s latest Sandton landmark, the super-swanky The Leonardo, has set a new benchmark for sectional title apartment prices with the recent sale of a 580m² penthouse for a cool R60m.
That translates into a rand per square metre rate of just more than R100,000/m² – believed to be the highest price paid to date for a sectional title property in Gauteng.
It is roughly on a par with that achieved at Sol Kerzner’s One&Only Waterfront hotel in Cape Town where penthouses have changed hands at more than R100m apiece.
The mixed-use Leonardo, which is under construction in Maude Street just a stone’s throw from the JSE, is already towering 30m above The Michelangelo Towers. The latter, another Legacy Group development, was until recently Sandton’s tallest building.
The Legacy Group’s latest Sandton skyscraper is now approaching 52 storeys and will reach 55 floors on completion towards the latter part of 2019. The development will comprise about 230 apartments, of which more than 80% have already been sold off plan.
Prices started at about R3.2m when The Leonardo was first launched just more than two years ago. Entry-level apartments are now selling from R4.5m.
Besides its residential offering, The Leonardo also houses sectional-title offices, a business centre, lounge, spa, restaurant and crèche.
But the pièce de résistance is a 3,300m² triple-storey penthouse – The Leonardo Suite – that is on the market for a whopping R250m. The luxury abode will boast a 900m² rooftop garden, a 20m lap pool, a private lift, staff quarters, a gym and a cinema.