COMMERCIAL
Rethinking residential
COMMERCIAL
“ Cpirit Village View offers the perfect blend of serene country living and modern comfort. Nestled in the sought-after town of Dullstroom, it is an ideal investment opportunity for those seeking a luxury guesthouse, a boutique accommodation business or a spacious family getaway. Cpirit Village View comfortably accommodates up to 18 guests across two beautifully appointed residences- a main triple-story guest house and a separate luxury self-catering garden unit,” explains Dart.
Rethinking residential
The most talked about trend right now is the conversion of commercial properties into residential and student accommodation with more and more developers entering this market. Latest trends favour mixed-use developments that minimise travel costs and congestion.
Dart puts the rise in mixed-use developments down to urban migration, lifestyle integration and a continued remote work culture.
The growth of live-work-play precincts reflect both the diversification of income streams( residential, retail, office) and their strong appeal to tenants seeking lifestyle and flexibility.
More importantly, town planning pre-1994 did not reflect the true dynamic of the economy with the workforce located in outlying areas. Issues such as location close to places of work, availability and cost of public transport and proximity to medical and educational facilities were seldom considered.
He acknowledges that there is a compelling case for investment in commercial to residential conversions – especially those with an affordable housing component.
In fact, many local governments are actively seeking opportunities to partner with developers to leverage inner-city residential projects as a way of addressing growing social housing backlogs and addressing urban decay in city centres.
An example of what can be achieved was a property in Salt River that was sold by High Street to big precinct developer Divercity for R30- million.
This has morphed into Divercity’ s R280-million inaugural Cape Town development( known as 9 Hopkins) which broke ground last year and will bring around 400 affordable rental apartments to Salt River.
28 REI MAGAZINE JULY 2025