The entire scheme encompasses three distinct building phases and will include a residential, a hotel and an office/retail element. Following two years of construction, phase one, the residential project, is now complete and almost entirely sold out to a mix of Irish, UK and South African investors.

The 180-unit development includes an 18-storey tower with a city-centre microwinery. The groundfloor houses a gastronomic retail component that will distinguish it from other developments and provide the city-living atmosphere.

There are just 11 units available for sale in the tower ranging in price from 200,000 to 660,000.

Work is now due to commence on phase two, which will see the development of the five-star Taj Palace hotel.

Comprised of 174 luxury hotel rooms and 20 luxury residences in heritage buildings, the hotel is within walking distance of many of Cape Town's major tourist and cultural attractions.

Phase three, which will see the redevelopment and upgrading of modern offices and 'high street' retail project will also kick off in 2007.

For further information contact Eurocape Investments Ltd on 01 2776200