Southbeach Weligama achieves first milestone; breaks ground

Tuesday, 22 March 2022 03:33 - - {{hitsCtrl.values.hits}}

Southbeach Weligama etches first milestone by breaking ground at the site and sells 40% of the apartments in six weeks

From left: Balmond Studio Project Director Derek Timms, SBW Director Larimon Balmond with Annabelle, CSEC Managing Director Eng. Shiromal Fernando, SBW Managing Director John Balmond, Buildmart Managing Director Hema Perera, SBW Senior Consultant Dilshan Kodituwakku and Udayanga Alwis from CSEC

Aerial view of the Southbeach Weligama property at the groundbreaking ceremony

40% of the apartments sold in just six weeks
Category One Contractor Buildmart secured for construction, reaffirming unsurpassed quality

Sri Lanka’s most exciting new freehold address on the Weligama coast entered its first chapter of construction in a groundbreaking ceremony held recently at the site. It also etched another milestone when in just six weeks, 40% of the apartments had already been sold.

Southbeach Weligama is internationally designed by trailblazer Balmond Studio led by Sri Lankan born Cecil Balmond OBE, the world’s leading thinker on form and structure. He has been a consultant on some of the world’s most famous buildings including the CCTV Tower and London Olympic Tower 2021 and is the lead architect for the John Keells Cinnamon Life project in Colombo. His son John leads the Southbeach Weligama project.

Breaking ground at the site in Weligama also means that Balmond Studio is keen on completing the 106 apartment complex billed to transform oceanfront living by its scheduled date of 2024. The construction will be led by Buildmart, a Category One Contractor reaffirming the project’s commitment to unsurpassed quality. The complex offers exceptional value offering an investment of $ 16 million (Rs. 3.2 billion) and has a current mix of foreign and local buyers. The initial booking deposit is 5% and 15% upon signing of the Sales and Purchase Agreement.

With an affordable alternative to a five-star hotel, Southbeach Weligama which has 75 meter pristine beachfront and 35 meter pool narrates a complete, distinctive and ethical lifestyle with a year-round yield for its one and two bedroom apartments of 727 square feet and 1,137 square feet respectively, predicting a gross rental yield of 6.5%. Southbeach Weligama is a celebration of modern beachfront living which empowers the local community, where local craftspeople will produce furniture for the project, an art gallery will showcase modern Sri Lankan artists and a music room will be a hub for local musicians to gather.