Partnership Sealed on Atlantic Seaboard Sets Sights On New Horizons
Category Property News
South Africa, Cape Town - Two leading influential forces in the renaissance of Sea Point will be taking their partnership to new heights with the acquisition of a majority stake in DG Properties by developers Berman Brothers.
The two companies have been at the forefront of the transformation of Sea Point from a decaying suburb to a thriving and sought-after residential and retail area, consistently showing an impressive year-on-year increase in the value of property per square metre for many years.
Berman Brothers has been responsible for signature luxury developments that have helped rejuvenate the suburb and contributed to the growth in property values. Examples include iconic projects such as Strand Beach, nestled on the slopes of Signal Hill; The Kings on Sea Point's Main Road; and The Estate, situated at the top of a hillside cul-de-sac on the boundary between Fresnaye and Sea Point.
"This has given rise to a rebirth and revival of the suburb, and recent years have seen much development taking place in Sea Point, both the refurbishment and upgrading of older buildings, as well as the construction of brand-new luxury residential developments which enjoy the prime location, views, amenities and all else that the area has to offer," says DG Properties.
"Local developers (and also Sea Point residents) the Berman Brothers, have contributed enormously to this revitalisation - having undertaken many of the exciting developments which have significantly boosted Sea Point's appeal and property values."
Paul Berman of Berman Brothers says these developments have proven to be extremely popular as they are ideally located just a stone's throw from Cape Town's incredible outdoor attractions such as V&A Waterfront, Lions Head, Clifton and Camps Bay beaches.
"You are within walking distance of a vast variety of renowned restaurants, cafes and shops, as well as some of the world's most beautiful beaches. Coupled with this, property in Sea Point is still offering great value for money compared to neighbouring suburbs within the desirable Atlantic Seaboard."
"Whatever draws you to invest in a Sea Point property, it's clear that this suburb on the Atlantic Seaboard is a much sought-after place to live or visit. The unique wind-free micro climate similar to the Mediterranean makes for a sound investment," says Berman.
"With the confidence built on significant capital investment in the Atlantic Seaboard over decades, and the cementing of ties between the visionary Berman Brothers and the experience and expertise of DG Properties, the partnership is an ambitious strategic move toward developing a bigger national footprint and further opportunities for growth."
DG Properties, who have offices in Johannesburg and Cape Town's Atlantic Seaboard, as well as the Southern Suburbs, were responsible for the record-breaking R290-million deal on a seven-bedroom mansion above Cape Town's glamorous Bantry Bay and Clifton - the highest price ever achieved for a property in Africa. And it is not just sales records: DG secured a staggering single holiday rental of just under R1 million for four nights on the Atlantic Seaboard, as well as a short-term rental of R220 000 per month on a house in Bantry Bay, and an astonishing R450 000 per month lease on an estate in Constantia.
"We are developing a significant footprint in the Southern Suburbs. We have also had great success in Gauteng and despite the property market being slow, we are very optimistic about the future as we continue to grow the company," concludes Alexa Horne, newly appointed Managing Director for DG Properties.
Author: Weekend Argus, May 2019