- 106 apartments on Weligama beach from $129,000 equivalent of 26 million rupees
- An investment of USD 16 Mn which is LKR 3.2 Bn with 40% foreign and 60% local buy
- Unique design features combining internationally acclaimed architecture design combined with Sri Lankan artisanal craft
- Balmond Studio’s signature design in Colombo is Cinnamon Life
The beautiful Weligama coast will soon play host to Sri Lanka’s most exciting new freehold address – SouthBeach Weligama. These 106 apartments offer exceptional value designed by the internationally renowned Balmond Studio, designers of Cinnamon Life, Colombo.
With an investment of USD 16 Mn (LKR 3.2 Bn), the property currently has 40% foreign and 60% local buying where the initial booking deposit is 5% and signing of the Sale & Purchase Agreement is 20%.
Balmond Studio combines over 50 years’ experience in architecture and design having worked on the Gherkin in London, Bird’s Nest in Beijing and Australia’s Sydney Opera House among others with Cinnamon Life being its visionary ideal for Colombo’s transforming skyline.
It’s London and Colombo design studios renowned for innovation, creativity and passion for modern design is led by Sri Lankan born Cecil Balmond OBE, the world’s leading thinker on form and structure. His son John Balmond who leads the Southbeach Weligama project explains the unique proposition Balmond Studios adds to the Sri Lankan property development landscape.
“Southbeach Weligama offers an affordable alternative to a 5-star hotel infusing a complete, distinctive and ethical lifestyle, promising year-round yield, setting a new trend for coastal living,” he says.
“In 2017, the Oxford Business Group predicted that beachfront properties in Sri Lanka will increase in value by 50% and in fact, Weligama land values have increased 84% since 2016 as per a report by Jones Lang Lasalle. With these statistics depicting the high value Southbeach Weligama narrates, our one and two bedroom apartments at 727 square feet and 1,137 square feet respectively are predicted to bring in a gross rental yield of 6.5%,” he also says.
Balmond Studios has partnered with global commercial property and investment management company Jones Lang LaSalle Inc. which has offices in 80 countries, to position a high level team at Southbeach Weligama to ensure investments are secure and in safe hands.
Besides a 75 meter beachfront and 35 meter swimming pool, John says, “Our entire look is a celebration of modern Sri Lankan talent, from showcasing local artists in the art gallery to having all the furniture handmade in Sri Lanka. The feel is about elegant sophisticated beachfront living embracing international lifestyle vignettes with our renowned F&B partner from London operating the restaurant and poolside bar, while our design intertwines the surrounding Sri Lankan landscape in all its multiple hues”.
The eight storey Southbeach Weligama’s oxidized copper façade and blue/green glass balconies reflect the colour palette of the Indian Ocean and surrounding coconut palms. The spacious interiors with its high ceilings, large rooms and balconies are complimented by artisan furniture and lifestyle vignettes handmade by Sri Lankan carpenters and masons.
“We believe strongly in 360 degree sustainability principles being integral in everything we do,” says John of Southbeach Weligama aiming to meet the Platinum standards of the Green Building Council of Sri Lanka.
“We infuse the synergies of renewable energy and design into our project, with turbines and solar panels powering the lobby and restaurant areas and rainwater harvesting conserving water. We are building strong relationships with our local communities to not just ensure sourcing local produce but also that every piece of furniture within the property is artistically crafted by Sri Lankan artisans. And for every apartment sold, we will donate USD 1,000 to Lanka Environment Fund towards their conservation projects. It is up to us, to protect today in order to create tomorrow,” he also says.