News from - Anne Porter Knight Frank

GREEN POINT STADIUM WILL RAISE PROPERTY VALUES IN THE AREA

All the fears that Green Point residents expressed regarding the way in which the new stadium would lower property values in its area have proved unjustified, says Lanice Steward, MD of Anne Porter Knight Frank.

In fact, says Steward, there are now clear indications that the advent of this massive structure is raising property values in close proximity to it.

“Anne Porter’s Sea Point offices report that there has been no rush to sell and that prices here have held up better than in many other parts of our territory,” said Steward.

Luxury apartment (and restaurant) projects in the area, she added, have proliferated and 1950s type buildings with little architectural merit have been renovated and have taken on new lives.

Steward said that TV coverage of the Beijing Olympics had convinced her these mega-international sporting events have an unparalleled ability to showcase and publicise an area.

“Do not be surprised, therefore, if Green Point and Mouille Point find themselves the focus of greater attention and an increased demand for property,” said Steward. “I see them becoming “in” places which overseas and upcountry people place high on their “must inspect” lists.”

One Mouille Point apartment complex to benefit noticeably from the increasing popularity of the area, said Steward, has been the 12 storey Seaways building sited on Platinum Mile. This has large two and three bedroom units, all with balconies, big entertainment areas and lock-up garages.

Anne Porter Knight Frank is currently selling one such unit for R2,4 million. It has, says Steward, stunning sea views, enhanced by full length glazing and a “light, bright” interior – and it is within walking distance of the V&A Waterfront.

Article by: www.anneporter.co.za