In 2017 Dewvest identified the declining central business district of Somerset West as an opportunity to realise value and promote growth. The urban trend of retail malls migrating from the High Street caused the area to experience decline in the first quarter of the 21st century; in spite of the existing infrastructure, proximity to high LSM residential suburbs, access to schools and services, heritage, unique architecture and central location in a high-growth hub.
Since 2018 Dewvest has been acquiring real estate in the Village Community Garden and Main Rd areas of the Somerset West CBD as well as the adjacent surroundings. With their long-term view and vested commitment to the area, they proceeded to upgrade some of these unique properties while retaining their village charm and architectural style. Dewvest works closely with neighbouring property owners, ward councillors, local municipality, community forums and neighbourhood social media platforms. Our densification and mixed use (work, live, play) approach and the ability to attract new tenants to the area has caused feet in the area to increase exponentially. This has been well received by law enforcement agencies, retailers and residents alike.
National brands have signed leases and commenced trading, local businesses have relocated to the hub, yields have increased dramatically and the CBD has benefitted from the projects completed to date.
Currently Dewvest is involved with the upgrades of the Culemborg flats (off Drama Street) and the Village Garden, while the repositioning and enhancing of the Fountain Square and Twin Oaks Centre & Tower are ongoing projects.
In 2022 Dewvest became a founding partner of the ‘Somerset West Village Collective’ an initiative aimed at fostering collaboration between stakeholders in the area. The Collective encourages residents, commercial and retail participants and developers to work toward a communal goal; the upliftment of the area to the benefit of all.