The Madison, Tricolt Group’s 23-storey luxury residential development at 142 Bree Street, recorded more than R1.25 billion in off-plan sales during its launch last week. The result is believed to be the highest launch sales value achieved by a residential development in South Africa, setting a new national benchmark.
Ahead of the public launch, 96 apartments were secured through Tricolt and KGP Luxury Realty’s networks of investors, friends and family. A further 176 apartments were reserved in less than an hour during the public launch, bringing the total to 272 of the development’s 378 units.
A carefully planned launch
The Madison was brought to market by Tricolt Group, with KGP Luxury Realty facilitating sales and Launchbase providing specialist off-plan marketing expertise.
By the close of launch day, reservations representing 74% of the development’s total sales value had been secured, subject to their conversion into bankable sales. Securing enough reservations to meet the pre-sales threshold in a single launch day is believed to be unprecedented for a South African residential development of this scale.
Jessica Cabanita, Sales and Marketing Director of Tricolt Group, said the result reflected the strength of the Tricolt brand and a coordinated strategy that began well ahead of the public launch.
‘The Madison resonated strongly with the market from the moment it was introduced. Tricolt’s track record gave buyers the confidence to act early, with 96 apartments sold through our database ahead of the official launch. That response created significant momentum before the Launchbase campaign and platform were activated.’
For Launchbase, the result demonstrates how distinctive design, clear positioning and a coordinated campaign can differentiate a development in an increasingly competitive market.
‘The speed and scale of the response show the importance of building buyer confidence well before launch. By combining targeted digital engagement with a seamless sales process, we were able to convert significant early interest into an outstanding result,’ said Dean Lederle, co-founder of Launchbase.
An icon in the making
Tricolt’s in-house design team, led by Aram Lello, reimagined the site at 142 Bree Street to create what is already being recognised as one of Cape Town’s most exciting new architectural landmarks. Every line, material and detail has been considered to create a lasting legacy. Through timeless design and uncompromising craftsmanship, The Madison sets a new benchmark for luxury residential property in Cape Town.
‘From the outset, we knew we had an opportunity to create something special, not simply another residential building. We wanted The Madison to feel distinctly Cape Town and make a positive contribution to Bree Street and the surrounding neighbourhood. The response has surpassed our expectations, and we’re genuinely grateful for the confidence buyers have placed in us,’ said Tim Kloeck, CEO of Tricolt Group.
The development offers a mix of suites, apartments and penthouses designed for both owner-occupiers and investors. The offering has resonated particularly strongly with the domestic market. South African buyers accounted for 80% of launch sales, reflecting continued local confidence in Cape Town’s premium residential sector.
Future residents will enjoy a dynamic collection of amenities, including a sixth-floor clubhouse and swimming pool, Cape Town’s first Gold’s Gym, landscaped leisure spaces, wellness facilities, flexible coworking spaces, concierge services and street-level cafés, restaurants and retail.
Giving back beyond the build
Beyond its commercial success, The Madison launch also created an opportunity to make a meaningful contribution to the local community.
Tricolt Group, KGP Luxury Realty and Launchbase each pledged R1 000 for every apartment secured during the public launch. With 176 apartments secured, the initiative has already generated R528 000 for selected Cape Town charities, with the beneficiaries set to be announced in the coming weeks.
‘Property developments should create opportunities that have a positive impact on the communities around them, not simply leave a physical legacy. We’re proud that this launch will do exactly that,’ said Brad Morgan, co-founder of Launchbase.
The Madison marks Tricolt Group’s continued expansion into the Cape Town market, following its establishment as one of South Africa’s leading luxury residential developers through a portfolio of landmark Johannesburg projects.
While many residential developments take months, and sometimes years, to achieve comparable sales volumes, The Madison secured 72% of its apartments during its launch period.
‘A result of this magnitude requires more than a compelling marketing campaign. It reflects close alignment between the developer, sales team and launch strategy, supported by a product that buyers genuinely believe in. The Madison demonstrates what can be achieved when all these elements come together,’ added Morgan.
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Picture: Supplied
