DESPERATE FIRST-TIME PROPERTY BUYERS GETTING CREATIVE PAGE 3
1 17 FEBRUARY 2023 360 PROPERTY PICTURE: MOHAMED ABDELSADIG/PEXELS
Love is in the air, but don’t just say ‘yes’ to buying a home together
BY BONNYBUYING a property with the one you believe you will spend the rest of your life with can be an exciting and rewarding decision but even if you feel your love is everlasting, you have to protect yourself in case the relationship fails.
There is no love lost when it comes to fighting for something with an ex-partner in a court of law.
More often than not, says property investor Ben Malapile, couples decide to buy properties together without being married or even planning to get married, and after a few years, they break up and fight for the property.
“In some cases, the couple assisted each other with paying the monthly instalment and can’t afford it individually.”
Before couples buy together they should have their affairs in order and, if they choose to buy as an unmarried couple, they should clearly stipulate what would happen to the property if they decided to part ways.
Does the property have to be in both our names?
If you are not married but are contributing to the property together, the best way to protect yourself is to have it registered in both names, advises Eduan Milner, of Eduan Milner Attorneys, Notaries and Conveyancers in Cape Town.
After all, having ownership is the “ultimate decision”.
“Yes, there will have to be a division (in the event of you breaking up), such as one party buying the other out, or sale of the property to a third party, but neither of the parties can deal with the property without the co-operation of the other.”
If you and your partner wish to have the property registered in one of your names, you must, at the least, conclude an agreement that regulates what would happen to the property if you split up or it was sold. However, the drawback is that it remains an agreement that must be enforced in a court of law, and this could take a long time, he says.
“By that time, the owner could have sold the property and spent the money. Such an agreement would be a far second place to ownership itself and could give a false sense of security to the one party if he/she was not aware of the procedure and time it would take to enforce his/her rights.”
Buying a property and obtaining a mortgage loan is a long-term commitment, so this decision has to be made after considering all factors, says Leonard Kondowe, the finance manager for the Rawson Property Group.
“When you buy jointly it helps improve your affordability levels which will then enable you, as buyers, to qualify for bigger
mortgage bond finance.”
What happens if I am not working but have money to contribute?
Milner explains that the mortgage bond will always follow ownership, so if the property is registered in both names, the bond also has to be in both names. And the fact that one of you does not have an income will not prevent that person from becoming a mortgagor as the bank will look at the affordability of the application as a whole.
“If your contributions are going to be different, you could even register the property in a percentage that is not equal, such as 70/30, for example. However, both parties would be fully liable under the bond, irrespective of the percentage in which you hold shares in the property.
“Should you split up, the proceeds from the property would be divided according to each one’s share, unless a party could prove that it must be different, for example, if an agreement was concluded to that effect.
“Of course, the party feeling aggrieved by the split would have to bring an action in a court of law to enforce his/her rights. For example, if the parties initially decide on a 50/50 split but, during the course of the relationship, the one party contributed more than they had initially foreseen, they could either conclude an agreement to reflect that the one
party has contributed more or they could transfer a further percentage to that party to reflect an increased ownership.”
However, the last-mentioned option would be costly as it would need to be registered in the Deeds Office and transfer duty would come into play, he says.
If my partner is paying the bond but I am paying for other household costs, what rights do I have to the property?
In a case like this, Milner says, both parties are effectively contributing to the property, one by paying the bond and the other by covering other expenses.
He adds: “If the property is registered in both your names, but the contributions are not equal, you should conclude a written agreement to that effect. If you split up and one party has contributed more than his/her pro rata share, he/she would be able to recover additional contributions only in a court of law.
“However, if they do not keep book of such additional contributions and have it in writing, it is going to be very difficult to prove.”
In a nutshell, how best can my partner and I protect ourselves if we buy a home together?
The best way to do this, Milner explains, is to have the ownership in the property reflect each of your respective investments in the property. If your investments are not an accurate reflection of your ownership percentage, you must reduce it to writing and even amend such documents as the situation changes over the years.
“I know, however, that very
few people do it as they seldom think of the bad times while it is going well. However, what you do not put in writing is going to be very difficult to prove a couple of years down the line.”
Echoing this, Carl Coetzee, the chief executive of Better Bond, says it is advisable to have a clear agreement that sets out each party’s contribution to costs including the deposit, transfer costs, monthly bond payments, home maintenance and utility bills.
“Buying a property with someone else – whether a partner or a group of friends – involves a great deal of trust. You will need to do full property transfer if one of you decides to pull out of the partnership and exit the bond agreement.”
While there are many factors to bear in mind with joint ownership, if done properly, he says it could be an effective way of making home ownership more accessible to a couple who would otherwise be unable to afford a bond on their own.
There’s no right or wrong answer when considering buying a home alone or with a partner, but Coetzee says there are some considerations to bear in mind.
“You and your partner would both be jointly liable for the bond repayments, legal, and administrative fees associated with the buying and selling of the property and any other associated costs. Also, the credit scores of both partners would be affected if either of you default on your bond payments. Also, the others in the partnership would have to cover the defaulter’s share of the payment to avoid the risk of losing the property.”
2 17 FEBRUARY 2023
It is vital that all factors are considered before taking the plunge to purchase a property together. PICTURE: COTTONBRO STUDIO/PEXELS
Unmarried couples need to use their heads and not their hearts when making the long-term commitment
FOURIE bronwyn.fourie@inl.co.za
First-time buyers taking out personal loans to get home loans
BY BONNY FOURIE bronwyn.fourie@inl.co.zaFIRST-time home buyers desperate to purchase property are resorting to taking out personal loans to help them get a mortgage.
There has also been an increase in the number of aspiring owners turning to the Government’s Finance-linked Individual Subsidy Programme (Flisp), says FNB Property economist Siphamandla Mkhwanazi.
Even though house-price growth is dropping, many South Africans cannot afford to put down deposits, and are mainly relying on 100%+ bonds.
In the latest FNB Property Barometer, Mkhwanazi says 73% of first-time buyers are using bonds of 100% or higher as their primary means of funding their home purchases. The figure for Q4 2022 is slightly higher than that from Q4 2021.
Only 16% have sufficient savings to help them get approved for a home loan, and 5% are turning to the Flisp subsidy.
“As affordability becomes more stretched, we expect homebuying activity to decrease in the coming months. In particular, the steep interest rate hiking cycle and elevated inflation have eroded affordability, making it difficult for
buyers to save enough for a down payment,” Mkhwanazi says.
An interesting trend that was not often seen at the end of 2021, but was being used by 5% of buyers a year later, as at Q4 2022, is taking our personal loans from banks in order to secure mortgages.
“Anecdotal evidence suggests that some first-time buyers have turned to unsecured lending to fund their upfront deposit. Additionally, there has been an increase in reliance on government subsidy programmes, such as Flisp, to help these buyers enter the market.”
He adds that internal mortgage applications data further supports the rising popularity of home loans with lengthier payment periods, such as longer than 20 years. This, however, is being seen more predominantly among lower-income earners.
“Notably, however, homeowners have an inclination to pre-pay their mortgages. In Q4 2022, the average holding period for a mortgage was around 92 months (seven years and six months), but lengthens to 119 months (approximately 10 years) for more affordable properties.
“Mitigating against the weaker fundamentals are factors such as changes in consumer preferences due to the pandemic, structurally
improved affordability, credit availability, and a higher household formation rate.”
Mkhwanazi says debt-toincome and debt-servicing ratios remain low by historical standards. Lenders are therefore expected to be more competitive and offer more affordable options to attract customers, countering the effects of higher borrowing costs.
“Non-labour income is also expected to remain relatively supportive of activity in higherincome market segments.”
Non-labour income includes capital gains, dividends, interest, transfer payments, gifts and prizes.
THE AFFORDABLE MARKET
In the report, Mkhwanazi says the market is expected to see a decline in sales volumes and price growth as households face financial strain.
However, some lenders are putting more focus on this market and introducing innovations to improve affordability, such as longer mortgage terms, collective buying options and more streamlined administration of Flisp.
“Additionally, volumes will benefit from people moving from high-priced properties due to rising debt costs.”
Despite the expected downward pressure on prices, he says the persistent shortage of housing and strong desire for home ownership will partially offset it.
MIDDLE-PRICE MARKET
Although the latest employment data showed a “positive surprise” with job gains, Mkhwanazi notes that most were low-quality jobs. This, combined with the global economic slowdown, increases the likelihood of a downturn in activity.
“As a result, we anticipate a decrease in buying activity. However, stable interest rates and increased competition in credit markets should help support activity. Additionally, modest household savings may provide some relief against rising living expenses.”
Forecasting house price inflation (HPI) for 2023, Paul-Roux De Kock, the chief analytics officer at Lightstone, believes the mid-value market segment “should be more resilient” than other segments as it will gain from the more active informal economy as well as activity from buyers out of the higher value segments wanting to downscale.
This will be welcome news from homeowners and sellers in the segment as, in a worst-case scenario
prediction, house-price growth is expected to drop to only 1.2%. It even has the potential to reach 4.2% in a ‘best-case scenario’ outlook.
AFFLUENT MARKETS
After a productive 2021 and 2022, marked by favourable pricing, a robust recovery in non-labour income, improved balance sheets in the aftermath of the pandemic, and the rise of remote work, Mkhwanazi expects a decrease in buying activity this year, partly due to a drop in buyer confidence. That said, supply-side factors might mitigate the impact on price growth.
“Sales related to emigration have slowed, and construction of new housing units should continue to decline.”
Higher-value outstanding mortgages in sections of the luxury market segment have seen this segment more negatively affected by the upward interest rate cycle, and Lightstone expects this to continue under the both the worst-case and middle-case scenario forecasts.
“In our High HPI scenario, we expect HPI in this market to start recovering sooner than the lower value market segments but coming off a low base, we see limited upside potential in 2023,” De Kock says.
3 17 FEBRUARY 2023 FIND US HERE: @iolproperty @iolproperty @iolproperty.co.za DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency.com Executive editor Vivian Warby vivian.warby@inl.co.za Features Writer Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za
Even though house prices are dropping, many people can’t afford to put down a deposit and are resorting to other means to get a foot on the property ladderMany have turned to unsecured lending and government subsidies to buy their first home. PICTURE: RODNAE PRODUCTIONS/PEXELS
4 17 FEBRUARY 2023 PICTURE: JONATHAN BORBA / PEXELS TO ADVERTISE IN KWAZULU-NATAL Sherine Budhram 0 84 460 7295 sherine.budhram@inl.co.za Antoinette Gilbert 083 793 5382 TO ADVERTISE IN WESTERN CAPE Abigail Wilmot 083 212 1141 abigail.wilmot@inl.co.za antoinette.gilbert@inl.co.za TO ADVERTISE IN GAUTENG National Listings
5 17 FEBRUARY 2023
6 17 FEBRUARY 2023 dogongroup.com A visionary company with decades of experience ALEXA HORNE 082 349 7799 SOUTHERN SUBURBS 021 671 0258 ADDO - EASTERN CAPE - R50 MILLION LONGHILL RESERVE AND LODGES Tranquil elegance meets majestic nature at Longhill Reserve in Addo, Eastern Cape. A private game reserve and lodge offering luxury self-catering accommodation, this ±1765 ha property is located close to the border of the world-renowned Addo Elephant National Park. Nestled in the heart of the natural bushveld, an ideal breakaway from the hustle and bustle of city life Web Ref: RL12509 EXCLUSIVE EXCITING NEW RELEASE ALEXA HORNE 082 349 7799 BERNICE KAYE 072 942 0548 SIMONNE WAKEFIELD 082 392 2669 CONSTANTIA UPPER - R13.95 MILLION BRAND NEW HOME OFFERING MAJESTIC MOUNTAIN VIEWS This modern home with spacious open-plan lounge, dining room and cosy fireplace leads to a large undercover patio fitted with glass stacking doors which flows onto a sparkling pool and deck area Brand new modern finishes are found throughout this special home. This home offers a modern and secure lock-up-and-go lifestyle for the discerning buyer in a desirable location EXCITING NEW RELEASE Web Ref: RL12518
7 17 FEBRUARY 2023 A visionary company with decades of experience Rentals 021 433 2580 LUXURY 3 BEDROOM PENTHOUSE With its unique European influence and designed by one of Cape Town’s most accomplished architectural firms dhk, this modern 3 bedroom penthouse oozes luxury and comfort while overlooking the trendy heart of De Waterkant. Framed by Dixon Waterkant and Hudson streets, Old Cape Quarter cradles the existing retail and commercial floors of the Piazza. Your home is an elevator ride away from that early morning coffee, trendy restaurants, galleries, boutiques and upmarket late night hangouts DE WATERKANT - R25.5 MILLION NATACHA NEUBURGER 083 449 9933 SERRYN PRYTZ 082 770 7680 HEAD OFFICE 021 433 2580 Web Ref: RL12528 NEW RELEASE WELL POSITIONED JULIETTE APARTMENT Beautiful corner apartment in sought-after Juliette with 2 bedrooms both en-suite and a separate guest cloakroom A very spacious living area leading out onto a wide balcony with superb canal, and Yacht Basin views V&A WATERFRONT - R13.5 MILLION NATACHA NEUBURGER 083 449 9933 HEAD OFFICE 021 433 2580 Web Ref: RL12524 NEW RELEASE LIVE THE HIGH LIFE AT THE MIRAGE Elevated West facing sea and mountain views. 2 Bedrooms (en-suite). Separate guest cloakroom and integrated kitchen Balcony, communal pool and gym. 2 Secure underground parking bays in modern and secure complex DE WATERKANT - R3.95 MILLION GRAHAM COWBURN 082 421 6764 HEAD OFFICE 021 433 2580 Web Ref: RL12521 NEW RELEASE EXCLUSIVE CHOICE SELECTION OF CAPE TOWN’S DEVELOPMENTS EXCLUSIVE A STATEMENT OF EXCELLENCE Ideal for those seeking a life of luxury, vibrancy & seclusion, 26 De Longueville merges design with security, privacy & convenience. VAT Incl. - No Transfer Duty 26 DE LONGUEVILLE FRESNAYE - FROM R12.75 MILLION PAUL UPTON 071 610 8088 Web Ref: ND51 FORTRESS OF AN ADDRESS 6 Unique homes composed in 3 identical constructions breathe effortlessly within the urban landscape. VAT Incl. - No Transfer Duty LUXIA RAVINE BANTRY BAY - FROM R39 MILLION ADRIEN EPSTEIN 083 455 5661 Web Ref: ND55 BREAKING THE MOULD Strand Beach breaks free from conventional shapes. Strand Beach is designed to reflect the harmony of the environment around it. . VAT Incl. - No Transfer Duty STRAND BEACH SEA POINT - FROM R4,783,250 LEAH 082 608 3388 SERRYN 082 770 7680 Web Ref: ND23
RONDEBOSCH
RONDEBOSCH R2,5 MILLION
RONDEBOSCH R2,8 MILLION
ROSEBANK R1,65 MILLION
RONDEBOSCH
RONDEBOSCH R1,95 MILLION
R3,1 MILLION
Spacious Three Bedroomed Apartment (123m²) above the Main Road in pretty garden setting. Fitted Kitchen and Bathroom. *Parking Bay. Walk to
over Bath. Fitted Kitchen. *Garage. *Walk to Shopping Centres, Restaurants, UCT and Transport.
CONTACT: RHONDA C: 082 448 7795 T: 021 685 2212 E: RRPSALES@MWEB.CO.ZA / WWW.RHONDARAADPROPERTIES.CO.ZA
A RARE OPPORTUNITY NOT TO BE MISSED
This magnificent home sits high on our beautiful mountain at the edge of National Parks land and has uninterrupted views across False Bay towards Simon’s Town, the Hottentots Holland Mountains of Somerset West/Stellenbosh and South to Rooi Els as far as the eye can see.
Once you enter you almost have the feeling of being on board ship with every room boasting breathtaking views from every corner of the property.
PROPERTY DESCRIPTION:
TOP LEVEL: 1:
3 Garages with direct access double glazing, sliding doors and Euro style open in/tilt windows and doors for easy cleaning with lounge and dining view preserving Luxaflex Blinds. Fantastic entertainers kitchen with views, Luxaflex Blinds, open in/tilt windows, easy access drawer and cupboard systems. Energy saving instant water heaters for kitchen and bathrooms. 3 phase energy supply to enable load balancing and instant water heating. Beautifully appointed entrance, secure and side garden patio, lounge and dining areas with large balcony, 3 x 316 plate stainless steel pillars clad in ALU support sea facing beam. Low maintenance Rhein Zinc Eave cladding and gutter on main roof. Warranties on main and new garage roofing. Stainless steel recessed gutter on main roof feeds 2 x 6000 litre tanks in large level 3 store room, programmable water system.
LEVEL 2.
2 Bedrooms both with beautiful en suites, common balcony access and fabulous views. Ample cupboards. Carpeted bedroom areas..
LEVEL 3.
This level is office space with a separate bathroom at the moment but can be turned into an apartment with its own entrance or alternately another 2 bedrooms. Inside ALU American Shutters for security and comfort.
ASKING PRICE R7.25 MILLION
8 17 FEBRUARY 2023 CONTACT: RH ONDA C: 082 4 48779 5 T: 021 6 8 5 221 2 E : rr p sa l es@m web. c o.z a/ ww w. rh ond araa dp rop ert i es .co.z a
ES W e specia li se i n the S al es a nd Rent als of res i dentia l propert y i n the Southern Suburbs a nd Surrounds . Cont a ct u s t oda y f o r all y o ur Bu yi ng, Sel li ng an d Renta l need s on 082 448 7795 / 021 685 2212 . CONTACT US NOW: 082 448 779 5 Security Complex above Main Road. Large Three Bedroomed Apartment (127m²) with mountain views. Fitted Kitchen and Lounge with Balcony. *Plus Garage. *Close to UCT, Schools, Shops and Transport. ROND EBOSC H R1, 5 M I LL IO N Spacious North-Facing Two Bedroomed Apartment with Lounge and Balcony with Mountain Views. Bathroom with Shower over Bath. Fitted Kitchen. *Garage. *Walk to Shopping Centres, Restaurants, UCT and Transport. Small Security Complex above the Main Road. Large modernised Bachelor converted to One Bedroomed Apartment (46m²) with Kitchenette, Built-in Cupboards and Balcony. Shower Bathroom. Walk to UCT, Jammie Shuttle, Shops & Transport. Small Security Complex. Two Spacious Bedroomed Apartment with lounge leading to large Balcony. Fitted Kitchen & Full Bathroom. *Parking Bay. Close to Dean Street Shops, Restaurant and Jammie Shuttle Stop.
RHON D A R AA D PRO PE R TI
R1, 5 MILLION Spacious North-Facing Two Bedroomed Apartment with Lounge and Balcony with Mountain Views. Bathroom with Shower
UCT, Jammie Shuttle, Main Road Shops & Transport. Security Complex Ecklenberg in pretty garden setting. Spacious Three Bedroomed Apartment (200m²) with Stunning Mountain Views. *Kitchen, Dining Room, Sun Room, Two Full Bathrooms, TV Lounge & Laundry Room. *Tandem Garage. *Close to Shops & Transport.
Charming Two Bedroomed Apartment (95m²) with Fitted Kitchen open to Dining Room / Lounge and Balcony with views. Full Bathroom and Sep Toilet. **Covered Parking Bay. **Walk to Kingsbury Hospital, Library, Restaurants, Jammie Shuttle, Shops and Transport! WHITEHALL COURT R1,35 MILLION Large One Bedroomed pied-à-terre Apartment with Lounge and Balcony & Stunning Mountain Views. 24HR Security Shareblock Complex. Fitted Kitchen. Shower Bathroom. **Garage. **Catering & Cleaning Services. **Walk to Shops, Baxter Theatre and Library! RONDEBOSCH
R5,3 MILLION CAVENDISH HEIGHTS R2,1 MILLION
and Large Modernised Three Bedroomed,
Modern Fitted
to
Grove Club, Newlands Cricket Stadium, leading Schools, Shops and
Prime
to Schools, UCT, Shops and Transport.
Charming
Two Bathroomed Apartment with Entrance Hall, Lounge and Balcony.
Kitchen with built-in Oven, Hob and Extractor Fan. Close
Kelvin
Transport.
Position! Spacious Two Bedroomed Duplex Apartment with Garage for Sale. Dining Area and Lounge leading to Large Balcony with Views! Fitted Kitchen and Full Bathroom. Walking distance
Charming Two Bedroomed Apartment with Fitted Kitchen (with built-in Oven, Hob and Extractor Fan) open plan to Lounge and Balcony. Two Bedrooms with Ample Cupboards. Bathroom with Shower over Bath, Toilet and Basin. **Plus Carport. Academic Mile - Walk to UCT!.
Security Complex in Pretty Garden! Spacious Three Bedroomed Duplex Apartment (115m²) with Two
* VIEW BY APPOINTMENT SUNDAY 2 - 5 PM! TO VIEW THESE AND OTHERS - CONTACT 082 448 7795 PLEASE CONTACT AGENT FOR ALL VIEWING DEBBIE 073 140 2543 IRENE PORTER PROPERTIES
Balconies and Mountain Views! Lounge, Dining Room, Fitted Kitchen (in need of TLC,) Full Bathroom & Guest Toilet. Parking - first come, first serve. *Walk to UCT, Jammie Shuttle, Shops & Transport.
9 17 FEBRUARY 2023
Bidding opens 22 FEB 2023 @ 12h00
https://bidlive.maskell.co.za
URGENT ONLINE AUCTION OF A PRIME ±8396m² MEDIUM IMPACT MIXED USE STAND WITH ROAD FRONTAGE TO BOTH WHITE ROAD AND MURDOCH CRESCENT: LOCATED IN WESTGATE, PIETERMARITZBURG IDEAL OPPORTUNITY FOR DEVELOPERS AND INVESTORS
Duly instructed by the Business Rescue Practitioner for Capital City Housing NPC
The property is zoned as Medium Impact Mixed Use which provides for a restricted range of commercial activities, workshops, offices, restaurants, residential development at medium intensities of development and with limited impacts
Contact Danielle (Candidate Property Practitioner) on 082 801 6827 / danielle@maskell.co.za • R50 000 buyer's card deposit payable by EFT • 10% deposit payable on fall of hammer • FICA to be provided • “Above subject to change without prior notice • Sale subject to confirmation (E&OE) *Automatic staggered ending time : if a lot receives a bid within the last 10 min, bidding will remain open for an additional 10 min - If any further bidding occurs, the extension timer will reset to 10 min - If no further bidding activity occurs, the lot closes when the timer runs out
10 17 FEBRUARY 2023
11 17 FEBRUARY 2023 The Rules of Auction & CPA Regulations can be viewed at www.in2assets.com or at Unit 503, 5th Floor, Strauss Daly Place, 41 Richefond Circle, Ridgeside Office Park, Umhlanga Ridge. Bidders must register to bid and provide original proof of identity and residence on registration. The Rules of Auction contain the registration requirements if you intend to bid on behalf of another person or an entity. The above properties are subject to a reserve price and the sale by auction is subject to a right to bid by or on behalf of the owner or auctioneer. In terms of the POPI Act, our contact details have been stated in this document. By responding to such, you hereby opt in for future marketing communication via email, mobile and WhatsApp. Email optout@in2assets.com to be removed from all future communication. CONTACT US FOR MORE INFO: 0861 444 769 info@in2assets.com www.in2assets.com 063 500 1652 Auction Date & Time: 16 March 2023 | 11h00 | Auction Venue: Mount Edgecombe Country Club, Gate 2, 1 Golf Course Drive, Mount Edgecombe | Terms: R50 000 refundable registration deposit. Strictly by EFT. FICA Documents are required | Auctioneer: Andrew Miller 21 PROPERTIES ON AUCTION – 16 MARCH 2023 TENANTED COMMERCIAL UNIT Sections 1-4 Crystal Rock, 16 Solstice Road, Umhlanga Newtown Centre Total Extent: ± 960 m² | 26 Parking bays | Fully Tenanted | Gross Annual Income: ± R 3.3 Million ± 1 100 M² COMMERCIAL DEVELOPMENT SITE IN PROMINENT BUSINESS PARK Erf 2056 Shelly Beach Extent: ± 1 100 m² | Steel Structure and Architectural Plans for ± 400 m² Development included in the sale TENANTED MINI FACTORIES IN CORNUBIA Section 21 (Door 28) & Section 70 (Door 30) Micro Park, 26 Crassula Road, Cornubia Extents: Section 21: ± 143 m² | Section 70: ± 164 m² | 2 Exclusive use parking bays per section | 1 Exclusive use loading bay per section | Fully tenanted | Gross Annual Income: ± R458K 120 OPPORTUNITY RESIDENTIAL DEVELOPMENT SITE 11 Gevers Road, Assagay Extent: ± 7.8 Ha | Well located near Westown | Over 120 opportunities | Views of the Valley HIGH EXPOSURE COMMERCIAL BUILDING 110 Durban Road, Kariega (Uitenhage), Eastern Cape Extent: ± 1 306 m2 | GLA: ± 300 m2 FLAGSHIP COMMERCIAL BUILDING 135 Musgrave Road, Musgrave Extent: ± 2 708 m² | Multi-Level commercial building | Blue chip tenants | High exposure position | Retail & commercial sections | Basement parking MEDICAL CENTRE 100 Peter Mokaba (Ridge) Road, Berea Combined Extent: ± 1 870m² | Fully let medical centre High exposure position | Gross Annual Income: ± R1.1 Million | Large recoveries | Solar panels | Huge parking SILVER OAKS BOUTIQUE HOTEL & CONFERENCE VENUE 17 Silverton Road, Musgrave Site Extent: ± 1 015 m² | 4 Star Boutique Hotel | 11 Bedrooms (Deluxe, executive & single rooms) | Superior fittings and fixtures | Conference Facilities for 50 people | Dining Area, Laundry facilities, Secure parking | Gross Annual Income: ± R1.2 Million | Sold with all movable assets 2 ADJACENT COMMERCIAL BUILDINGS 28 Swapo (Broadway) Road & 54 Balmoral Drive, Durban North Combined Extent: ± 2 048 m² | 28 Swapo Road: ± 496 m² | 54 Balmoral Drive: ± 374 m² | Each Erf sold separately or combined | 45 Parking bays | Conversion opportunity | Fantastic location with huge exposure | Currently A Grade offices | 230 KVA Generator COMMERCIAL & RETAIL BUILDING 1 Link Road, Gordons Bay, Western Cape Extent: ± 669 m2 | Prime corner position | Fantastic high exposure location | Huge passing trade Currently income generating A-GRADE VERSATILE OFFICE & COMMERCIAL BUILDING 33 Umbilo Road, Congella Site Extent: ± 1 434 m² | GBA: ± 1 150 m² | Modern, well-maintained building offering various usage options | Can accommodate multiple tenants | 25 Parking bays | 2 x Gantry Cranes | Sold vacant occupation 2 X RETAIL UNITS WITHIN THE UMHLANGA GATEWAY PRECINCT Units 62 & 64 SS The Palms, Protea Hotel, 14 Palm Boulevard, Gateway, Umhlanga Unit 62 Extent: ± 60 m² | 1 x Secure parking bay | Sold vacant occupation | Unit 64 Extent: ± 28 m² | 1 x Secure parking bay | Sold vacant occupation GROUND FLOOR OFFICE SPACE IN LA LUCIA Section 1 La Lucia Park, 64 Armstrong Avenue, La Lucia Extent: ± 167 m² | 7 Individual Offices (Drywall) | Walk-in Safe | Male and Female Ablutions | Within walking distance to La Lucia | 200 m from the M4 Main Road POPULAR TOTE & COMMERCIAL PROPERTY 11 Pridley Road, Reservoir Hills Site Extent: ± 945 m² | GBA: ± 477 m² | 28 Parking bays | Off Track Tattersall operating for over 20 years | Option to Include Liquor & Gambling Licenses COMMERCIAL BUILDING & TOTE 69 Clarendon Street, Klipkop, Parow, Western Cape Extent: ± 892 m2 | High density residential area | Conversion opportunity | Ideal superette location 4 BEDROOM PENTHOUSE Section 5 SS Ocean Glades, 83 Lagoon Drive, Umhlanga Rocks Extent: ± 514 m² | 4 Bedrooms | Pool & jacuzzi | Entertainers patio | Expansive ocean views | 2 x Double & 1 single garage | Direct access to the beach MIXED USE PROPERTY IN TONGAAT CBD 465 Gopalall Hurbans Road, Tongaat Extent: ± 2 065 m² | 5 x Retail Shops | 2 x 3 Bedroom Units | 3 x 2 Bedroom Units | Mostly Tenanted | Gross Annual Income: ± R634 K INDUSTRIAL INVESTMENT PROPERTY WITH LONG TERM LEASE IN PLACE 94 Columbine Place, Glen Anil Site Extent: ± 3 867 m² | GBA: ± 1 800 m² | Gross Annual Income: ± R 1.4 Million (Lease expires in 2028-7% Annual Escalation) | Can accommodate multiple tenants | Loading Docks into Warehouses | Power Supply: 440 AMPS ± 1 000 M² COMMERCIAL PROPERTY IN VERULAM CBD Sections 1, 2 & 3 SS Verulam Racing Centre, Todd Street, Verulam Extent: ± 1 842 m² | GBA ± 1 093 m² | Ample Onsite Parking (± 40 Parking Bays) | Positioned within the hub of Verulam CBD | Option to include Gambling and Liquor License INDUSTRIAL PROPERTY WITH HUGE EXPOSURE TO N2 FREEWAY 875 Peter Close, Springfield Park, Durban GBA: ± 3 200 m² | Month to month tenancy | Potential for signage & branding companies for additional income to be earned | Gross Annual Income: ± R2.1 Million | Positioned alongside N2 Freeway MUHAMMAD | 079 458 4256 MUHAMMAD | 079 458 4256 MUHAMMAD | 079 458 4256 LUKE | 071 351 8138 BRAD | 073 757 9533 LUKE | 071 351 8138 LUKE | 071 351 8138 VIREND | 071 383 1735 LUKE | 071 351 8138 LUKE | 071 351 8138 VIREND | 071 383 1735 VIREND | 071 383 1735 MUHAMMAD | 079 458 4256 VIREND | 071 383 1735 LUKE | 071 351 8138 LUKE | 071 351 8138 MUHAMMAD | 079 458 4256 VIREND | 071 383 1735 MUHAMMAD | 079 458 4256 VIREND | 071 383 1735 PORTFOLIO DISPOSAL PORTFOLIO DISPOSAL PORTFOLIO DISPOSAL PORTFOLIO DISPOSAL PORTFOLIO DISPOSAL PORTFOLIO DISPOSAL
AGENTS’ DIRECTORY
DOGON GROUP PROPERTIES
Atlantic Seaboard Office 021 433 2580
thekings@dogongroup.com
www.dogongroup.com
RHONDA RAAD PROPERTIES
Cape Town Office 082 448 7795
Email: rrpsales@mweb.co.za
www.rhondaraadproperties.co.za
SHELLEY RESIDENTIAL
KZN
Office 082 412 4463
Email: hello@shelley.co.za
www.shelley.co.za
DOGON GROUP RENTALS
Sea Point Office 021 433 2580
enquiries@dogongroup.com
www.dogongroup.com
DOGON GROUP PROPERTIES
Southern Suburbs, Claremont Office 021 671 0258
southernsuburbs@dogongroup.com www.dogongroup.com
CAPE WINELANDS
Nicho 072 601 1772
Hannes 066 476 1890
sales@aandewijnlanden.co.za
viognier.aandewijnlanden.co.za
SERENITY HILLS ECO ESTATE
Simon’s Town Office 021 786 3947/073 140 2543
Email: iporter@yebo.co.za
www.ireneporterproperties.co.za
PETER MASKELL AUCTIONEERS
KZN
Office: 033 397 1190
Email: info@maskell.co.za
www.bidlive.maskell.co.za
BALWIN PROPERTIES
Ballito Office 084 788 1020
Email: michelle@balwin.co.za
www.balwin.co.za
DOGON GROUP PROPERTIES
Western Seaboard
Office: 021 556 5600 or 021 433 2580 enquiries@dogongroup.com www.dogongroup.com
VAN’S AUCTIONEERS
Gauteng Office 086 111 8267
www.vansauctions.co.za
www.iolproperty.co.za
WIDENHAM RETIREMENT
VILLAGE South Coast, KZN 066 306 0669 / 066 306 0612
www.hibiscusrv.co.za
www.widenhamretirementvillage.co.za
12 17 FEBRUARY 2023
PROPERTY 360
13 17 FEBRUARY 2023 Have you discovered these digital magazines yet? To receive all our FREE digital magazines directly to your mailbox, email iol.magazines@inl.co.za with the word Digital. Advertising Sales queries: Charl Reineke | charl.reineke@inl.co.za Click here to read our magazines now.
