For savvy property investors, the Cape Town Foreshore offers an excellent location for vacation home investment. It’s hard to believe, but many years ago, the area now known as the Foreshore was once a thriving waterfront on the shore of Table Bay. In the 1940s, the area was reclaimed, paved and slowly developed into the suburb that stands at present.
Properties here are primarily short term apartments, which share available real estate with a number of notable commercial buildings and landmarks such as the Cape Town International Convention Centre (CTICC), Civic Centre and the Artscape Theatre Complex.
What makes the Foreshore a good choice for vacation home investment, and what else should investors know about this constantly developing area?
Cape Town Foreshore Vacation Home Investment
In order to understand the future of the Foreshore, it is useful to consider its history. About a hundred years, the Foreshore was a thriving harbour. Fishermen launched their boats from a small beach found nearby, while ships anchored in the bay. Passengers and cargo were ferried between ships and small jetties. Changes began to take place in the 1800s. The North Wharf was built, followed by the Breakwater and Docks. The diamond and gold rush, combined by the war attracted many troops, refugees and immigrants, while also increasing the demand for shipping. This lead to the expansion of the port.
Much later, in the 1940s, the shoreline changed even more drastically. A huge area of land was reclaimed from the sea to become what we now know as the Foreshore. The Roggebaai beach, old fishing harbour and Adderly Street’s pier were removed to make way for the newly paved land. This is why roads such as Waterkant and Strand Street still stand in the heart of the city, so far away from the ocean.
Even as late as the 1990s, the land around the Foreshore was largely used as part of the inner city road system. The development of the V&A Waterfront, followed by the CTICC and general improvements within the CBD’s structure created the perfect climate for the Foreshore to become the central, ideally located area it is today. In more recent years, the addition of high-end apartment complexes has created the ideal area for corporate travellers and holidaymakers wanting to be close to major landmarks.
What advantages does Foreshore vacation home investment have to offer? Let’s have a look…
- Central location. The Foreshore is minutes away from Adderley Street, Long Street and other landmarks within the City Centre. It’s equally close to the V&A Waterfront, while being in driving distance of Green Point, Sea Point and Camps Bay. This provides travellers with a highly central location that is suited to business and leisure trips.
- Business-ready. The area is within easy reach of major business hubs, including the Cape Town International Convention Centre, which plays host to a number of world-class corporate events throughout the year. For business travellers seeking to be close to commercial headquarters and conference venues, this makes the Foreshore an ideal choice.
- Tourist-friendly. Tourist attractions in the area meanwhile include the Castle of Good Hope, which can be accessed foot, Uber or on the popular red city sightseeing bus; Adderley Street, one of the city’s oldest and most fascinating streets that is home to many beautiful old buildings; the Artscape Theatre Complex, which plays host to many operas, ballets and performances each year and Pier Place, a public square on Heerengracht Street.
Do you currently own an apartment in Foreshore that you would like to rent out for short term travel? Totalstay offers a fully managed approach to vacation home investment that includes day to day management, reservations management, guest concierge and active marketing across multiple channels. Our portfolio of apartments, aparthotels and villas spans across the city, with a strong focus on the CBD and Atlantic Seaboard suburbs. To learn more about our solutions, contact us today and let us know how we can take your vacation home investment to the next level of success.