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LUXURY APARTMENTS WHERE THE RIALTO CINEMA ONCE WAS
97 On Strand on beach front 9
7 On Strand, set on the site of the former landmark Rialto Cinema in the Strand, has now been launched and has four show apartments ready for viewing. The master of ceremonies at the launch event was former Miss South Africa and Top Billing presenter Jo-Ann Strauss, who matriculated from local school HottentotsHolland High. Guests included Raoul Barenblatt, former owner of the Rialto Cinema, and ward councillor of ward 83 Dave Venter. Local businessmen Andre du Plessis and Arjan Ockhuisen took on the semi-complete apartment building – which had been stalled for two years –, and have upgraded it significantly. Barenblatt out- The view of False lined the history of the location, where the original movie house was owned by his father from 1935, but which burnt down early one Saturday morning – after a showing of Hans Die Skipper) in 1952 – to be rebuilt with modern conversions in 1980. “The Rialto may no longer exist, but now a new, modern, beautiful building is in its place, and I congratulate Arjan and Andre on this lovely building, and wish them lots of luck for the future, which they
certainly deserve,” Barenblatt said. A commemorative sculpture of a movie camera was unveiled, which now graces the entrance area of 97 on Strand. Some insight into what the Council has in mind for the area was provided by Venter: “I can remember coming to the Rialto in the winter time, when you got a cup of soup and a blanket to cover your knees! In terms of what is going to happen in the precinct opposite this building, which is supposed to house 130 traders, but sometimes sees up to 210 – this is going to see the number of traders reduced and moved into a focal area. Also, the sea wall, which was built in the early 1900s, will start being Bay from the show flat repaired and upgraded from the next financial year. To upgrade the entire wall from Greenways to the Lourens river will take five years and cost R27–37 million, and will take the form of an esplanade where people can walk and sit. The environmental impact assessment is currently being done and processes are being put in place, and we plan to start next year in the tidal pool area.” Monte Jordaan, CEO of Somerset West-based Multi Projects, whose
Multi Projects Property Management Pty Ltd arm will be handling the body corporate management, tenant management of units belonging to owners , who want to use their units for holiday accommodation, said that since 1995 about 700 new beachfront apartments have been built in the Strand. “Since 2004, 472 new apartments have been completed on the Strand beach front and most have been sold, with potential buyers entering the market every month. If everything normalises as it should in due course, prices of beach front apartments will recover substantially. So I believe the time to buy is now. “Those who think the market is going to drop further – I think you have missed the boat. At the current rate we will run out of available stock in the next 18 months – and from then on the pressure on prices will go upwards, especially in a premier building like this, which compares to the best in the world.” Ockhuisen and Du Plessis bought the building six months ago and they foresee completion of 97 On Strand by 1 December. They have agents on site at the building every day from 10:30 until 16:00 to show potential buyers around, with four furnished show flats on the fourth floor. The 31 apartments include one-, two- and three-bedroom/penthouse layouts and are sized from 77 m² to 185 m² (from 94 m² to 209 m² including balconies). The balconies wrap around corners, so that every apartment has the best of all views: sea, and mountains one way, and the Helderberg the other. The apartments range from R1,295 million to R1,895 million for a spacious two-
97 On Strand bedroom en suite apartment, and from R3,2 million to R4,750 million for a penthouse. There are also two one-bedroom apartments each priced at R1,495 million. All prices include VAT, transfer duty, and one shared lockable garage. There is a commercial element on the ground floor, and four of the five
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shops have been taken, with negotiations taking place on the final one. Four of the apartments have already been sold. View the show flats on site, 7 days a week from 10:30-16:00. Contact the office on 079 820 5646; email info@97onstrand.com. Phone Arjan Ockhuisen on 076 043 4640 or Andre du Plessis on 082 255 9555.