Live-work-play developments prove to be the recipe for future successes

CENTURY CITY on the N1 is the “quintessential live-work-play precinct” with more than 60 000 people living and working in the area, says Paul da Silva, Pam Golding Properties agent for Century City.

This “city within a city” has various attractions, including parks, accessible public transport, shopping centres, schools and recreational activities. Da Silva says the precinct offers a range of accommodation for the full life cycle, from units for first-time buyers to lifestyle retirement options.

“Century City is ideally located on the N1, close to a premium shopping centre and many corporate offices, but without the overcrowding and congestion one would experience in Cape Town’s CBD.”

Mixed-use developments will “continue to be the recipe for success going forward”, says John Chapman, a director of the Rabie Property Group, the developers behind Century City.

Apart from mixed-use developments, property markets in Claremont and the Tyger Waterfront are prime examples of how commercial developments impact properties and lifestyles in the neighbouring suburbs, says Pam Golding Properties’ Sandra Gordon.

Claremont’s CBD and surrounding suburbs are flourishing because of easy access to public transport, convenient location to popular schools, and the stability of Cavendish Square as a core business node. And, with its prime location, Gordan says Claremont has attracted more businesses to its CBD, and “thus made the surrounding property more appealing”.

Looking at this appeal, she says Upper Claremont has become home to some of the most expensive residential property in the southern suburbs on a rand per square metre basis with developments catering to the growing need for secure, bespoke estate living in the suburb.

Similarly, The Tyger Waterfront property market – where apartments are within walking distance of the Tygervalley Shopping Centre and surrounding office blocks – has shown steady price growth in recent years, says Annien Borg, Pam Golding Properties managing director for the Boland and Overberg.

The average sales price of apartments is at R1.3 million thus far this year. Sectional title prices have shown 74.8% growth over the past five years.

MIXED-USE Living close to a central hub, such as Claremont, positively impacts neighbouring property prices, creating demand for developments such as Cadogan Place.