Strand set to become Cape’s own Dubai
17 March 2006
Strand, the sleepy seaside village with the beach recently voted best family beach in South Africa, is fast developing into a glamorous international destination, earning it the nickname of the “new Dubai” among locals.
Until a decade ago, says Herman van Rooy, owner of the local Chas Everitt International franchise, Strand was the preserve of mainly Afrikaans-speaking “binnelanders”, who flocked to the pristine beach and warm waters for their annual holidays.
“But after the 1994 elections, international investors started taking an interest, spearheaded by Germans thanks to the word-of-mouth marketing by the large contingent of German residents in neighbouring Somerset West.”
Since then, the buyers’ profile has changed dramatically. Besides international investors, well-heeled businesspeople from Gauteng are flocking to the area, says Van Rooy. “Many of the older beachfront properties, including the old Rialto cinema, have been demolished to make way for high-rise developments to supply the growing demand.
“And the avant-garde architecture of new developments, the nine-storey Atlantica in particular, is what has given rise to the Strand’s new nickname. And because there are no building height restrictions, the trend is set to continue.”
The Topaz development, currently under construction in Beach Road, is a prime example. It will offer 22 floors of apartments with two floors of penthouses. Such is demand that only four apartments are still available.
The developer says the penthouses sold very quickly and one investor, who paid R5,5-million off-plan, recently rejected a resale offer of just more than R11-million. Prices of the four available units range between R3,6-million and R3,8-million.
However, says Van Rooy, Strand still has a dual property market. “While beachfront property commands prices of up to R20 000/sqm, it is still possible to find a modest home three streets away from the beach for under R1-million.”
The cheapest type of property - one-bedroom flats – now cost around R500 000 in contrast to R350 000 two years ago. And depending on location, average residential homes in the town cost between R800 000 and R1,4-million.
Van Rooy says residents are gearing up to match the efforts of outside developers. One area of concern is the jetty that in earlier days was the focal point of the area. Through neglect, it has become derelict and local businessmen have started a trust to save it. The trust aims to raise R12-million to upgrade the jetty and establish a mini waterfront on the lines of the V&A in Cape Town. Plans include building a shopping centre and a hotel of international standard.
Commercial development has, on the whole, not caught up with its residential counterpart. Van Rooy says Strand’s commercial sector still has a rural feel to it with many businesses and restaurants owned and run by families.
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com