In the face of unflagging demand for Cape seaside property, agents operating in Lagoon Beach say they are experiencing keen interest from local, upcountry and international buyers.
Pam Golding Properties' area manager for the Western Seaboard, Madelon Venter, says demand has been increasing steadily over the past few years, as the area has taken shape. "Lagoon Beach now boasts four sectional title complexes, with a fifth due for completion by the end of this year, plus two hotels, both of which offer permanent accommodation as well. This suburb represents the southern-most developed area of the Western Seaboard, making it enviably close to the CBD and Waterfront, yet without the congestion problems experienced by some areas further up the coast."
From an historical perspective, Lagoon Beach marks the site of one of South Africa's most famous maritime rescues. It is here that the Dutch East Indies ship the "Jonge Thomas" beached and broke up during a howling north-westerly gale in June 1773, resulting in the loss of all but 47 of its 207 crew. The survivors included 14 men who were famously dragged from the sea by Wolraad Woltemade and his courageous horse, before they drowned while attempting an eighth rescue trip. It is this stretch of famous beachfront that forms the front garden of most homes in Lagoon Beach.
PGP's MD for the Western Cape metro region, Mick Joyce, says capital appreciation in the area has been significant, thanks to its fine location and the scarcity of units available for sale: "A two-bedroomed unit that sold new for R446 000 in 1997, and traded hands at R850 000 in 2003, is now on the market at R2.1 million," he says, "giving a good indication of the kind of growth that is being enjoyed. Yet there are still apartments available at a reasonable R1.3 million in the popular Leisure Bay complex – this for a one-bedroomed, sea-facing unit. At the upper end, prices range up to R3.495 million at Neptune's Isle and R4.5 million at Spinnakers, while in the Lagoon Beach complex, buyers can obtain fully-furnished two-bedroomed apartments of 94sqm to 130sqm, for between R1.895 million and R3.1 million. We expect that the steady growth seen over the past 10 years since the suburb was established, will continue as the area enjoys ongoing interest from buyers in Cape Town, Gauteng and overseas – particularly the Irish, German and Austrian markets. These include buy-to-live purchasers as well as those seeking investment opportunities or holiday accommodation."
One of the properties currently for sale in Lagoon Beach is a spacious triplex unit at the small but popular Spinnakers development. On the market at R4.495 million inclusive of VAT, the 211sqm home offers four bedrooms and outstanding views from every floor – best enjoyed from the comfort of the jacuzzi on the top-floor balcony.
