The Strand, long known as a sleepy holiday town with beautiful stretches of white sandy beaches, is starting to make its mark with developers, writes ANNAMARIE SMITH

ORIGINALLY a fishing village situated in the centre of what is now called the Helderberg region, The Strand has become a soughtafter investment destination for both property developers and home owners.

With one of the most spectacular uninterrupted stretches of white beach on the SA coastline, the Melkbaai section is becoming The Strand's showcase area. Several high rise apartment blocks provide lucrative investment opportunities for overseas investors as well as for families who are either relocating or buying holiday accommodation.

Construction projects totalling more than R1bn are currently changing the face of the old, formerly mainly Afrikaans-speaking town, where owners of freestanding homes have seen their values increase by up to 300% in the past year. The Strand, together with neighbouring towns Somerset West and Gordons Bay, is experiencing the biggest property boom in its recorded history. Soon it will host SA's highest residential building when construction of the 25-storey Topaz block is completed in August next year.

The area, which is within striking distance of a range of upmarket leisure facilities such as top-rated golf courses, as well as a number of the Cape's famous wine routes, is starting to feature more prominently on tourist brochures and investment guides.

A new 270-unit retirement village, to be called Summervale, is under construction in Gordons Bay, while the Somerset Mall, an already upmarket shopping and entertainment area, is undergoing extensions valued at R150m that will be completed this year, adding to the area's attractiveness to permanent residents.

Monte Jordaan of Multi Projects, marketers of five residential apartment blocks in Strand says: "The Strand now attracts a younger group of affluent Englishspeaking investors aged between 35 and 55 in the A and B income groups."

He says the influx of young entrepreneurs and leisure-orientated investors, which started as early as 1995, prompted the development of the blocks, which will add 465 residential units to the area's housing stock when they are completed in about 18 months' time.

Beachfront apartment prices have escalated by more than 40% in the past 12 months. New investors in the area fall into one of three categories, permanent residents, holiday apartments for investment purposes, or purchases for resale or rental.

The encouraging mix of investors has caused the area to compare well with areas such as Bloubergstrand, but property prices are still substantially lower than those along the Atlantic seaboard.

Multi Projects is developing a healthy mix of accommodation, with four of the apartment blocks situated directly on the beach with magnificent views across the False Bay area, and the more affordable Nautica positioned off the beach road. Topaz, the flagship development with a prime position on the Golden Mile, boasts luxuries such as a 21m heated swimming pool, jacuzzis, a gymnasium, a home theatre, and more.

The area also has its own R20m residential golf estate following the development of the existing Strand Golf Course, which is almost sold out.

Agents say one of The Strand's main advantages is its centrality and convenience, with Cape Town International Airport a matter of minutes away by car. There is also easy access to the R44, one of the Cape's most established wine routes between Somerset West and Stellenbosch.

Anant Singh's Dreamworld Film Studio, a R453m project that is to be erected on a portion of the Vergenoegd wine estate, is expected to attract further investment in the Helderberg region and add to the influx of residents.

Jun 11 2004 09:23:46:000AM Business Day 1st Edition