Wedgewood Sandton

BALWIN PROPERTIES CANCELS WEDGEWOOD SANDTON DEVELOPMENT

One of Sandton’s largest construction projects in years has been cancelled, as Balwin Properties announced it will no longer move forward with their Wedgewood Development.

 

  • In just seven weeks, the development had achieved over R1-billion in sales.
  • The Wedgewood Development boasted plans for a five-a-side soccer field, outdoor cinema, world-class appliances, a Padel facility and more.
  • The project was supported by significant marketing campaigns, webinars, show-days and ongoing publicity.
  • Visit www.sandtontimes.co.za for more stories.

 

Despite achieving widely publicized record-breaking sales success, the JSE-Listed company, will no longer be going ahead with their Sandton development, Wedgewood Sandton, situated at 114 Rivonia Road, a statement confirmed.

 

Wedgewood Sandton

This decision was made after consulting with board members who agreed that, at this time, the company would no longer focus on its Lifestyle Apartment brand but rather on its tried and tested development models – being the Classic, Green and Signature Collections. All purchasers and investors have been contacted and will be reimbursed in the upcoming weeks as a matter of priority. Balwin Properties assures the public and partners that they are taking this matter very seriously.

// Spokesperson, Balwin Properties

 

Launched in November 2020, the major modern residential project aimed to ‘bring more South Africans within prime locations, like Sandton, in an achievable way’. Offering apartments from R799’000, the new ‘Balwin Lifestyle Apartments’ concept brought studio, one- and two-bedroom apartments in reach of anyone able to pay a R10’000 deposit, with all bond and transfer costs included in the purchase price.

 

Earlier this month, Wedgewood Sandton had officially broken ground. A week later, construction of Wedgewood Sandton had commenced in ‘record time’, with 50 new lifestyle apartments due for release this week at R899’000, including free levies for 1-year.

 

The Wedgewood Sandton website and social media accounts have been taken down. Updates on this story will be provided once more information is available.

 

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Head back to The Sandton Times Home Page for more stories.

 

Sandton Times Correspondent

Sandton Times Correspondent

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