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The Factory - University Residences, Cape Town, S.Africa A revolutionary development in Observatory. Observatory is one of Cape Town�s oldest and most fascinating suburbs. Observatory (Obz, as the locals call it), takes its name from the Royal Odservatory. Embracing an eclectic mix of zany shops, restaurants and pubs that line the Lower Main Road. Observatory Station is the third stop on the Cape Town � Simonstown railway line, providing transport to the revered retail paradise of Cavendish Square in Claremont, and the warm-water beaches of Muizenberg, Fishhoek and Simonstown. Being so close to a number of world-class tertiary institutions such as the University of Cape Town, the Groote Schuur Medical School, the Cape Peninsula University of Technology and the AFDA film school, it�s not surprising that Observatory has proved a popular dormitory suburb for students, but is also a trendy residential area for young professionals, artists, and musicians. Arthur Quinton Darryl Croome designed residential complex consists of 123 studios, one-bed and two-bed apartments, with prices starting at R574 000. 7-story and 3-story apartment block with garden units. Features include 24-hour security, parking, laundry, gym, rooftop swimming pool and braai area with stunning mountain and Cape Town views. The development is ideally situated just minutes walk away from the Lower Main Road Obz shopping area with its vibey nightlife strip of restaurants and pubs. UCT, CPUT and AFDA campuses are all within 4 kilometres. Demand for rental accommodation in the area has been surging, driven by both young professionals and students, making this an ideal buy-to-let opportunity in an area that is clearly on the up. The site is dual zoned for residential and commercial use, making it perfect for work-from-home business start-ups!  A recently completed cycle path runs along the banks of the Liesbeeck River, and forms part of the Two Rivers Urban Park, Observatory�s popular �green lung�. On the park�s northern border is the nine-hole golf course of the River Club, while on the other side of the Liesbeeck Parkway are the Hartleyvale sports facilities, which include international standard astro-turf hockey fields. The complex is completely separated with its own fence and access control (barrier with controlled access). I LOVE OBSERVATORY! Although residents in The Factory will have easy access to the funkiest part of Observatory and the myriad facilities and entertainment venues it provides, The Factory will nevertheless make going out a tough choice. What with the stunning pool and braai deck, the gym with mountain views, the coin operated laundry and high speed wireless internet throughout, The Factory owners will find their pad being the destination of choice amongst their friends. THE INVESTORS RETURN Recognizing that our average sales price of R18,000/m2 is a bargain for a new product in this market, investors have scooped up to 6 units a piece in a rush to return to the property market. Even parents of UCT students have seen the financial sense in buying a solid investment. CONSTRUCTION Construction is currently underway on the project and completion and occupation is planned before the end of 2013, perfect for 2014 students and professionals wishing to move to Cape Town in December.
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