With the fast paced local and international film industry spending up to R7-billion a year in Cape Town, a newly spawned property development promises to cater to the special requirements of this massive market.

The Hyde, due to launch in October, is a glamorous complex that will reside in Sea Point’s London Road, where the 36 luxury self catering apartments are set to offer an exclusive hotel-like experience that film makers are accustomed to.

"With the film industry forming such an integral market in Cape Town, it seemed logical to create a dedicated place with specialist features to optimise and add to the working and hospitality experience of film crews residing in the Cape," says Louise Maranz from Vered Cape.

Maranz adds that The Hyde has been specifically designed as an investment opportunity for avid property investors through continuous short-term letting to film industry players.

"The idea is to generate a continuous revenue stream for the investor through guaranteeing a constant tenancy of film makers who reside in Cape Town all year round. We are confident that investors and potential investors will yield a return of nine to 12 percent. Furthermore, The Hyde will be zero-rated for VAT purposes, thereby allowing investors to sell their apartments without the transfer duty penalty that they would pay on a commercial property," says Maranz.

Managing agents and film industry specialists Amazing Spaces have been assigned to The Hyde to ensure an enduring and constant inhabitance of film makers in the complex. "This has made it easy for us to guarantee such an impressive return to our investors and most importantly, property owners need not worry about sourcing and securing their own tenants. Buyers will also have the opportunity to make personal use of their investment, as owners have the option to enjoy their investment space for up to four weeks per year," says Maranz.

With the completion date set for October 2008, 22 units have already been sold. Exceptional custom designed features for the film world, such as casting rooms and fully fledged concierge and chauffeur services have been factored in to ensure that crews reach their locations collectively and on time. The layout of the complex — a pool situated on the roof and an open plan reception and guest lounge — have been designed to stimulate networking activities, which are paramount to the industry.

Each apartment will be fully furnished and fitted with hotel grade furniture and adorned with five star finishes. One parking bay will be allocated to each apartment, including lock-up storage areas and 24 hour security guards with access gates and keys.

Units are sized up to 57m², comprising of 30 large, one bedroom apartments and six studio flats. Prices start from as low as R1.45-million to R1.95-million with levies set at only R5.50 per m².