Amazing Spaces transcends the traditional real-estate model

Source: Supplied.

In a report by Uswitch, the film that had the biggest effect on property prices is Mrs Doubtfire starring Robin Williams. Located in San Fransisco, California, it is estimated to have increased neighbouring properties by 253%.

In second place is Bohemian Rhapsody set in London. This property is estimated to have increased neighbouring properties by approximately 247% – more than twice as much as the Dursley’s house front from Harry Potter.

With Cape Town hosting almost 10 000 film productions annually it’s no wonder homeowners are delighted when their homes can double up as a film location. Not only could property earn them between R10,000 to R70,000 per day, but the prime capital value growth of between 2%-3.9% - coupled with high rental-income potential - can also act as a hedge against inflation.

Notably properties that are in high demand by production companies are also those found in Cape Town’s top seven residential areas spotlighted by property investors as Clifton, Bantry Bay, Camps Bay, Bishopscourt, Constantia, Llandudno, and St James.

Connecting global film crews and lifestyle property investors with exclusive South African properties since 2000, is seasoned property and film locations expert, Julia Finnis-Bedford of Amazing Spaces.

Source: Supplied. Bohemian Rhapsody.

Having renovated many of her own properties over the past 25 years, her passion for real estate inspired her to launch Lifestyle Investments as a division to her film locations business, Amazing Spaces. Knowing what a property needs to transform it into a lucrative income-generating asset is what she is known for in the industry.

“Having worked with some of the world’s most renowned production companies over the years has given me incredible insight into what the latest global trends are in architecture and interior design.

"I understand what works and what doesn’t and can equally advise any potential buyers on what can be done to not only enhance their home but also make it more appealing when they wish to put it on the market to sell or list it as a shoot location should they wish to earn a secondary return on their investment,” said Finnis-Bedford.

Constantia's film appeal

A suburb known for its rich history and lush leafy environment is Constantia. Listed as one of Cape Town’s Prime 7 suburbs it’s also one of the South Africa’s most sought-after film location neighbourhoods, adding to the appeal for property investment there.

“Constantia’s trees, wide open spaces, and the varying styles of homes make it the perfect space for film shoots. While this can be disruptive to a neighbourhood we ensure that the process is managed very carefully so as to not impact the neighbours.

"We also always give back to the community as much as possible and in Constantia this means using Sarda as a base camp for crews and actors. The funding they receive from film shoots assists them in offering free equine therapy to children and adults living with intellectual and physical disabilities," said Finnis-Bedford.

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Longvale Manor in Constantia will soon host Oscar winner Sam Rockwell (Three Billboards Outside Ebbing, Missouri), Haley Lu Richardson (The White Lotus), Michael Peña (The Martian), Emmy nominee Zazie Beetz (Joker), and Bafta winner Juno Temple (Ted Lasso) in the filming of Good Luck, Have Fun, Don’t Die.

With Monterey in Bischopscourt acting as the backdrop for an upcoming black comedy thriller film, Hutington, written and directed by John Patton Ford, stars Glen Powell along with Margaret Qualley and Ed Harris.

The most famous Cape Town film location is “The Midden” in Constantia and was the setting for Black Mirror starring Myley Cyrus, Love Island UK and Kissing Booth starring Joey King.

The film Morning After is set at “The Midden Cottage” just next door. Since listing with Amazing Spaces in 2018, The Midden gets approximately 20 shoot-days per year.

Profitable location properties

Of homes sold, at least 30% of new home owners continue renting out their homes as location properties because of the returns and the ease of co-ordination provided by having an experienced film locations team managing the entire process with buyers ranging from South Africans to Germans and British with some Americans.

The current real-estate market in Cape Town can be characterised as a seller's market. With this dynamic it means there are more buyers than sellers, giving sellers the upper hand in price negotiations.

As a result, property values are increasing, creating a competitive atmosphere for prospective buyers. This coupled with the increasing demand for location properties means that buyers interested in homes that are film location-ready stand to benefit in the long run.