Real Estate May 2016 ( Issue 32 ) by REAL|life

REAL

ESTATE ISSUE 32 • MAY 2016

DESIGN

Houghton’s hottest office space | Girls on top | The future of city living | Luxury timepiece trends

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A VIEW SO INSPIRING IT WILL LEAVE YOU BREATHLESS

RECENTLY SOLD

SOAK UP THE VIEWS FROM THE ROOFTOP OF APARTMENT 12720

- Request a tour at your convenience

APARTMENTS AVAILABLE TO VIEW EVERY WEEKEND – 10AM TO 5PM ADDRESS DETAILS Apartment 7015 (Entrance on Lloys Ellis Avenue, off Osborne Ave, at Houghton on the 7th). Office – 011 034 2201 || Alan Becker – 082 718 8100 Email – alan@thehoughton.com

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CREATIVE GROUP

Come see for yourself why our apartments are being snapped up. VARIOUS OPTIONS AVAILABLE: THREE, FOUR AND FIVE BED EN-SUITE APARTMENTS

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ESTATE

REAL

ED’S LETTER

LOVE

YOUR

HOME

LIVE

THE

LIFESTYLE

PUBLISHED BY PA MEDIA, THE CREATIVE GROUP HEAD OFFICE Old Castle Brewery, 6 Beach Road, Woodstock, Cape Town, 7925. www.realestatemagazine.co.za 087 828 0423, 021 447 7130

EDITORIAL TEAM EDITOR Michelle Snaddon michelle.snaddon@thecreativegroup.info ART DIRECTOR Leah de Jager DEPUTY EDITOR Julia Freemantle

Michelle Snaddon Editor, REAL ESTATE

KIRSTY WILKINS Kirsty joins the team as The Creative Group’s copy editor. She started working in publishing just after graduating with a BA in English and Communications. Her 10 years’ experience spans two cities – Cape Town and London – as well as various print and digital products. Loves: tra ellin ood co ee oo s you ll nd one in her a pretty much constantly ritin photo raphy and the idea of ad enture sports She also tends to proofread menus for fun…

LEAH DE JAGER Leah is Real Estate’s new art director. She brings a versatile and dynamic creative background to the team, with a career in both retail and publishing. She’s a natural artist, who can doodle a future wallpaper on a notepad or prepare a delicious meal for family and friends down to the smallest detail. Her glass-half-full approach to life is contagious and her sense of ad enture means you ll most li ely nd her clim in a roc face with her family over the weekends.

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MAY 2016

CONTRIBUTING FEATURES WRITER Genevieve Putter COPY EDITOR Kirsty Wilkins ONLINE EDITOR Andy Möller ACCOUNTS AND FINANCE Katrien Janse van Vuuren PRINTING Paarl Media

Love the environment! Please recycle this copy of REAL ESTATE after you have read it.

ADVERTISING SALES MICHÈLE JONES Sales and Marketing Manager michele.jones@thecreativegroup.info 084 246 8105 SUSAN ERWEE (DEVELOPERS) Key Account Manager susan.erwee@thecreativegroup.info 083 556 9848 YVONNE BOTHA Key Account Manager yvonne.botha@thecreativegroup.info 082 563 6685 JIMMY BALSARAS (PROPERTY) jimmy.balsaras@thecreativegroup.info 083 387 2227 TONY TANDI Sales Consultant tony.tandi@thecreativegroup.info 073 380 6110 ADVERTISING BOOKINGS AND SUBMISSIONS Jackie Maritz Advertising Coordinator jackie.maritz@thecreativegroup.info 078 133 5211

COVER IMAGE Sarah de Pina ARTWORK Sarah Biggs, Ian Grose and Leonce Raphael Agbodjelou PHOTOGRAPHS Lar Photography and supplied

t’s not often that I get the chance to write to you in the middle of a heavy tropical downpour. I’m sheltering under the sturdy thatch of Makuti palm on the shores of a remote island hideaway, watching the water morph into a moody pool of splattering droplets. As soon as the clouds pass, I fully expect it to turn indescribably blue again. But if I say any more it’ll spoil our little black book of heavenly retreats we’re putting together for you – do look out for it in the following issue of Real Estate. May is the time to turn to our own personal sanctuaries at home and ecause inter al ays surprises us ith early chilly snaps e re focusin on edrooms n pa e you ll nd inspirational ideas on ho to create the ultimate cocoonin one ut e en if you only declutter or recon ure your storage, or change the wall colour or the headboard, you’ll feel ready to embrace winter. We love the moody ut fresh rey on rey of this eylandts space a o e This month e elcome irsty il ins our eady eyed copy editor and Leah de a er our un appa le new art director, to the team. And we’re thrilled we don’t have to say goodbye to Lucia Viglietti, who is working with us on special projects. Kirsty and Leah’s arrival coincides with an issue jam-packed with both global and local stories such as insi htful hi hli hts from the ni ht ran ealth eport pa e and a snapshot of the hallo ed halls of alon nternational de la aute orlo erie in Gene a earlier this year pa e On either side of these features we take you behind closed doors into the just-opened M&C Saatchi Abel head offices in ou hton pa e a creati e yet corporate space that as masterfully curated y Tonic to showcase their invaluable collection of contemporary art. Equally impressed by the rising interior design talent in South Africa, deputy editor Julia Freemantle has also put together six pro les from pa e of up and comin omen to atch in the industry We’re looking forward to seeing more of their work. Enjoy the last blissful days of autumn!

DISCLAIMER The publisher of this magazine gives no warranties, guarantees or assurances and makes no representation regarding any goods or services advertised within this edition. © The Advertising Joint Venture. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from the publisher. The publishers are not responsible for any unsolicited material.

THE CREATIVE GROUP CEO Shaun Minnie shaun.minnie@thecreativegroup.info

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CONTENTS

24 PHOTOGRAPHS Karl Rogers and supplied

40 24 MATERIAL GIRLS

The dream commission, the challenges, the role models: six women to watch talk local interior design

30 DREAM BIG

M AY 2016 11 WORD ON THE STREET 14 CAR REVIEW

Rolls-Royce’s new Dawn convertible combines tradition with a good dose of sex appeal

18 BUILDING BLOKS

When it comes to city living, compact design is crucial – and Blok has it mastered

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MAY 2016

Break the design rules with our inspiration for a multipurpose bedroom space

36 WELL COMPOSED

aatchi el s ne o ur office is an ode to cool design and contemporary art

40 WATCH THIS SPACE

The top 10 trends in luxury timepieces to emerge from this year’s exclusive SIHH in Geneva

45 THE WEALTH REPORT

Art, jewellery, property and even soccer teams are on Knight Frank’s 2016 investment watch list

55 MARKETPLACE

The property news you need to know now

68 DREAM HOME

Live your best life at one of these Seychellois villas

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Life is the canvas on which you paint your unique story.

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Artists: Reshada Crouse, Velaphi Mzimba, Paul Emsley and Nelson Makamo.

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THINGS TO SEE, TRENDS TO SPOT AND PLACES TO BE

TIME AND PLACE

TEXT Genevieve Putter, Julia Freemantle and Michelle Snaddon PHOTOGRAPHS Trevor Stuurman and supplied

A Place in Time, Nirox’s winter show, will run until July 2016. A collection of more than 40 works by artists from Africa, Europe and the USA – including Richard Long, Willem Boshoff, Nandipha Mntambo, Moataz Nasr and Marco Cianfanelli – will consider contemporary sculpture practice as an ancient human tradition to make and appreciate objects in the context of an exceptional display of artefacts on loan from the University of the Witwatersrand Origins Centre museum collection, on until July. niroxarts.com

STREET CRED Whether you call it sports luxe or athleisure, one thing is evident: track pants and sneakers have never been a more desirable combo. Brands such as Adidas Originals have dazzled with not only the creative styling of their new ranges and celeb collaborations (think Rita Ora and Kanye West) but also via cool new campaigns. Enter the latest worldwide launch of Generation NMD (or #genNMD), a multimedia celebration of urban nomads, featuring the people creating and inspiring local street culture. In November last year we paired the well-known Igers with Cape Town’s urbanists and next month is the second editorial instalment, focusing on Jozi. Clearly, it’s a thing. adidas.co.za

Africa rising At its recent debut at African Fashion International’s Mercedes-Benz Fashion Week Joburg, pan-African fashion label Mille Collines was the talk of the show. Inspired by the cosmopolitan cities of Kigali, Cape Town and Nairobi, the label’s designers have recently expanded the brand to South Africa through their online shop. The collection was an expertly crafted fusion of African aesthetics and contemporary styling, called Curio City, with models sporting turbans and ’60s-style sunglasses, all in shades of taupe, grey and white with pops of yellow, blue, khaki, peach and green. We may just have a new fashion crush. millecollines.es

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MAY 2016

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WORD ON THE STREET

THE INSIDE STORY With behind-the-scenes info from the designers of 289 hotels across 181 countries, this year’s much-anticipated annual book by Design Hotels is a collection of exceptional photography and in-depth insight from the visionaries that brought these awe-inspiring hospitality concepts to life. What’s more, this edition includes the Influencers List, which features the backstories of the 10 most influential designers in the global hospitality industry. A must-have for design-philes across the globe. designhotels.com

Natural beauty

Designer Philip Pikus’ inaugural Contemporary Classics range of fabrics celebrates quality and the timeless beauty of neutral shades and natural textures with 100 per cent linen, chunky weaves, cotton and the sustainable fibre of the moment, bamboo. Designed to be layered, mixed and matched, the plains (elegant and understated tones of taupe, grey, bone and linen) are complemented by a classic broad subtle stripe for a chic year-round look. In line with its natural aesthetic, the brand is committed to sustainability and awareness, and has a conscience at its core – all are locally made, too. Available through Lula Fabrics and T&Co. philippikus.com

LIGHT HEARTED

Writing on the wall The Rug Company’s newest range, Farrah – by New York designer Nicole Fuller – has us in a swinging ’60s time warp. Inspired by the decade’s graffiti art fashion scene, pioneered by Stephen Sprouse, Fuller’s large-scale rugs are made of wool with the bold patterning in luxurious hand-spun silk. Available in two colourways, grey and ruby, and adding an extra element of luxury, the rugs can be custommade to any dimensions. therugcompany.com

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Copper is having a real moment – and it’s the perfect warm shade to introduce as an accent in winter, although it also won’t date. We love the retro silhouette and anthropomorphic personality of this charming Cristian Mohaded Wander lamp for Roche Bobois. And if you’re not into copper, it also comes in black, grey, coral and white. roche-bobois.com

FEBRUARY MAY 2016 2015 www.realestatemagazine.co.za www.realestatemagazine.co.za

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WORD ON THE STREET

Bush magic

A surprise newcomer to the Thornybush Collection, The River Lodge – located near Royal Malewane – is more homeaway-from-home than the rest of the options in the portfolio. Once the personal hideaway of GT Ferreira, Peter Hobbs and Trevor Jordan, it’s the newest exclusive-use lodge, and with the affable Liza Huismans at the helm, guests are in for a treat. Relaxed and open-plan, the main living area leads to an extended deck with superb views over the river and a water hole. Here, curious nyala quietly watch visitors’ breakfast rituals, while buffalo drift down the riverbed, pausing to drink with their young calves. But the elephant know better. Purposefully striding off, they often head to a favourite spot: the lofty private family suite, suspended in the trees and with double suites connected by a sensational living area and a pool. Pausing first to see if the coast is clear, they casually drop their trunks over the edge and enjoy a satisfying ‘sluuuuurp’. Watching them play in the riverbed below was akin to the excitement of an extraordinarily lucky aardvark sighting: magical bush moments. thornybush.co.za

Star attraction

Gourmands will love one-Michelinstar South African chef of the moment Jan Hendrik van der Westhuizen’s inspirational new offering: Jan: A Breath of French Air. Beautiful photography and vintage illustrations blend with his memories and a celebration of the delicious dishes served at the legendary JAN, his now-famous eatery in Nice, south of France. ‘I remember when he left for Paris, after styling a few food shoots at Elle,’ says editor Michelle Snaddon. ‘This is everything he dreamt of … and more.’ Signed copies are available from his website. janhendrik.com

LUNCH REDEFINED Myoga always intrigues, but its new five-course tasting menu takes fine dining at lunch to new heights. At R275 per head, it’s set to keep those in the know coming back for more because it’s impossible to make a choice without asking someone at the table if you can have a taste of their dish. Book as a group to do just that! You’ll be in for some flourish with a touch of magic. myoga.co.za

Teatime If you’ve frequented Cape Town’s markets or festivals over the last few years, you will no doubt have come across Lady Bonin’s tea caravan. Jessica Bonin left the advertising and film industry to pursue her passion for tea and has become something of an institution. Her next step on her journey is a permanent space on 233 Long Street. A first for Cape Town, the tea bar will serve more than 50 different local and international varieties, from Japan and China to Korea and India. Aside from being able to find exotic blends, you can also immerse yourself in this ancient and soothing ritual by taking part in a traditional tea tasting ceremony. ladyboninstea.com

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MAY 2016

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CAR NEWS

BLUE IT MAY BE ROLLS-ROYCE’S ‘SEXIEST’ CAR, BUT THE DAWN IS WONDERFULLY TRADITIONAL TEXT Terence Steenkamp PHOTOGRAPHS Supplied

n a world where carmakers scramble to satisfy every possible taste and whim, Rolls-Royce builds vehicles that remain doggedly loyal to the marque’s ethos. They’re aristocratic, spectacularly refined and effortlessly powerful. And it’s no different with its latest model, the Dawn convertible. Not that you’d expect anything less from a car that costs the same as a grand home in the Western Cape’s Winelands, where the British brand launched the vehicle to the world’s press. Admiring the car before we depart from Delaire Graff Estate, the drop-top instantly charms. Its exterior design remains loyal to Rolls-Royce’s core principles: a 2:1 wheel-to-body height (think hot-rod); a long bonnet balancing a long rear overhang; a high shoulder line; a tapering rear-end. On the Dawn, the roofline is sleek despite the cloth top featuring six bulky, insulating layers. What’s more, Rolls claims that, with the roof raised, the vehicle is quieter inside than the Wraith coupé (and as spacious). Lowered in 22 seconds, the top stows under a flush deck finished in pleasingly tactile Canadel open-pore panelling. With the side windows

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raised, the flawlessly trimmed cabin (which can be outfitted in any material you choose … at considerable cost, of course) is a serene place. Later in the day, after lunch at the spectacular Rooi Els seafront home The Glass House, we head towards the challenging Franschhoek Pass. I’m nervous – depending on the exchange rate at the time of order, the vehicle costs in the region of R10.5 million, and it isn’t exactly a sports car – but I shouldn’t have been. So perfectly judged are the Dawn’s controls, and so clear are the sight lines along that immense bonnet to the Spirit of Ecstasy mascot, that the vehicle manages to feel both exceedingly special to drive and simultaneously unintimidating. The 6.6-litre V12 engine is silent unless called upon to waft occupants past slower vehicles, which it does with verve, and the ride is controlled but cushioned. All this bodes well for Rolls’ target of lowering the average age of its vehicle buyers to the mid-40s. But, despite the fact that the Dawn is, according to Rolls, its ‘sexiest’ car yet, it remains tenaciously traditional. And that’s exactly how it should be. rolls-roycemotorcars.com

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SHOW HOUSE

BLOKS L L

T T

L T

T T

TEXT Julia Freemantle PHOTOGRAPHS Karl Rogers and supplied

rban living is a catchphrase much bandied about these days in design circles as cities grow and planning increasingly needs to cater for more people in nite areas Few developers actually walk the talk, however, when it comes to creating homes that really address the need for compact ut stylish residential desi n Not only is the team at Blok proactive at problem solving as far as spaces are concerned, the company is committed to lasting change in how its city works – from interactive street spaces and parks to energy efficiency pu lic transport and for ard thin in collaborations with other enterprises with the same alues or in ith existin systems and structures to improve on them and make them more beautiful, but not in isolation, is why they’re more than just a de elopment company This comes through strongly in SEVENonT in Green Point, the second project in the area by lo formerly derelict three storey uildin the structure was renovated entirely into its current e storey unit incarnation retainin only the old arched entrance which gives it personality and charm le er features such as ooden indo oxes and clip on alconies are typical of lo s inno ati e ethos and mission to create outdoor spaces There s also a central atrium and reen lun in the uildin Just across the road, the upgraded Thornhill Park is another of the company s passion pro ects fter

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noticing how many of the apartments for sale in the area needed work, the owner decided to invest in the uildin e did the maths and the nishes appliances and lifestyle that lo o ered ust made it a no rainer she comments To complement the contemporary open plan aesthetic set in place by Blok, Gillian Goodwin of 89 Interior Design and her team chose to apply a calm colour scheme throughout and keep the spaces uncluttered onsiderin it s rented out re ularly to isitors to ape To n ut also used y the o ner and her family when they’re here from Joburg, it needed to appeal to a variety of people, but speak to the owner’s personal aesthetic, so Gillian had to strike a alance et een the t o t had to e homely ut also neutral she says To this end she used paint and allpaper on accent alls to create a layered e ect that feels li ed in ut uni ersally appealin outh frican desi n features stron ly and the art and o ects lean to ards li ht hearted ut still hi h end inny la inx prints and a stri in aul du Toit original are minimal in style and primary in colour e li e to sho case local desi n and had a fe pieces made up y artisans adds Gillian She’s also stayed true to Blok’s dedication to ersatility and space maximisation and li ht bright aesthetic – a canary yellow steel bench in the kitchen seats more people than chairs and looks slee er hile su tle texture adds uno trusi e depth It’s unpretentious contemporary design at its most easy oin not unli e lo itself blok.co.za; 89interiordesign.co.za

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SHOW HOUSE

‘WE LIKE TO SHOWCASE LOCAL DESIGN AND HAD A FEW PIECES MADE UP BY ARTISANS’ GILLIAN GOODWIN, INTERIOR DESIGNER

Interior designer Gillian Goodwin applied a neutral palette to the open-plan spaces, with pops of primary colour for interest. Artist Paul du Toit commands the living-room wall, striking just the right note of simplicity and sophistication OPPOSITE FROM TOP Textural subtlety, via rugs (this one is from Hertex) and fabrics, ensure that the space is layered without being too busy. The coffee table is from Eleven Past and the cushions are from Skinny laMinx; South African design, like this stool from Pedersen + Lennard, gives the spaces a cool, contemporary and locally relevant feel

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THE ART AND OBJECTS LEAN TOWARDS LIGHT-HEARTED, BUT STILL HIGH-END

CLOCKWISE FROM TOP LEFT Gillian used wallpapers on a few accent walls to add depth and interest. This grey and neon wallpaper by Werner Aisslinger from Home Fabrics adds a graphic touch to the main bedroom; Smeg appliances come standard in Blok apartments and perfectly complement the quality finishes and sleek, seamless kitchen spaces; charcoal tiles break the stark whiteness of the bathroom OPPOSITE Clever casual seating and a simple contemporary trestle in the open-plan kitchen/dining/living room area offers versatility and maximises on space. The yellow bench is from Lim

MAY 2016

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SHOW HOUSE

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JUNE 2016

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FROM LEFT The apartment’s design, like Blok itself, has moments of offbeat coolness; a combination of artisanal fabric (cushions from Bbellamy & Bbellamy) and minimal design pieces give the spare room a youthful feel

NINEonS The latest project launched by Blok is NINEonS, a study in clever design. It takes the ethos of the company to the next level by making manifest its ‘third spaces’ philosophy in a seamless execution of multipurpose design devices and maximisation of the footprint. The Super Cupboard, Great Wall and Compact Bedroom were all conceived with the goal of allowing

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FOR SALE For information on similar apartments available in SEVENonT – or on other developments – call 087 752 6677 or email sales@blok.co.za

the homeowner to define the spaces and their uses. Versatility is key and defined boundaries, set uses and enclosed spaces are no longer applicable with this in mind. The duality of function is imperative to modern living, says co-founder Jacques van Embden. ‘Multipurpose spaces that offer a homeowner more than one living solution are imperative – people demand more from their space and the home needs to respond to this,’ he says.

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2016/04/21 1:26 PM

Life.

Something that happens between meals.

At the heart of your Blok kitchen, lies a Smeg gas stove from a country where cooking is an artform. The dedication shown by our Italian masters to their craft is what inspires Blok to partner with the best, making crucial details add up to an elegant whole. A place where aesthetics, future-facing products and peerless fittings combine to make each Blok apartment a masterpiece of thoughful design. Because Blok, is in the detail. Contact us for more information on how to become a Blok home owner and share in our journey to creating the perfect urban living experience.

BLO

sales@blok.co.za +27 87 752 66 77 blok.co.za

MATERIAL MEET SIX OF THE DYNAMIC WOMEN WHO FORM THE NEW GUARD OF INTERIOR DESIGN IN SOUTH AFRICA TEXT AND PRODUCTION Julia Freemantle PHOTOGRAPHS Karl Rogers

ADRI VAN ZYL, ATELIER INTERIORS WHAT’S THE MOST REWARDING ASPECT OF DESIGNING SPACES? Definitely seeing your drawings come to life. DOMESTIC OR COMMERCIAL JOBS: WHICH DO YOU PREFER? I like both, actually – commercial has a quicker turnaround time, which keeps you on your toes, plus it’s rewarding, while domestic projects tend to be more personal and because of that, special. WHO IN THE INDUSTRY DO YOU ADMIRE? Trevyn and Julian McGowan – I’m a huge fan of how they’re constantly pushing the boundaries of South African design and endorsing local collaboration while at the same time being the country’s biggest design advocate abroad. They really are a showcase for how to be approachable, inclusive and highly successful within an industry that’s too often about individuals. WHAT’S THE MOST ENJOYABLE PROJECT YOU’VE WORKED ON? I’m really loving one of my current Cape Town ventures. It’s a hotel called the Gorgeous George, situated on Greenmarket Square. George has a bit of an eccentric side! WHICH OBJECT/SPACE DO YOU WISH YOU’D DESIGNED? Sketch restaurant and art gallery in London – the entire place is dusty pink and completely bourgeois. atelierinteriors.xyz

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MAY 2016

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WORKING IT

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WORKING IT

KELLY ADAMI, COPPERLEAF STUDIO WHAT PROMPTED THE CHANGE IN CAREER DIRECTION FOR YOU? I loved working in decor journalism because it gave me the opportunity to meet so many talented people in the industry. But I’m quite a practical person so just being an observer of all this creativity always made me want to dive in and be part of it. I trained as an interior designer so it was a natural progression for me to move back into the field. WHO HAS BEEN YOUR SINGLE BIGGEST INSPIRATION? The former editor of Condé Nast House & Garden Liz Morris. I worked with her for three years and she is always one step ahead of the trends. She taught me that taking creative risks almost always pays off.

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HOW WOULD YOU DESCRIBE YOUR AESTHETIC? I strive to create spaces that are elegant and sophisticated yet livable, because ultimately, to feel comfortable in a space, it has to have a certain level of practicality. I like to juxtapose clean lines and simple shapes with rich, luxe textures. WHAT IS THE MOST CHALLENGING ASPECT OF WHAT YOU DO? You have to rely on suppliers to complete some elements of the job, which can be frustrating – I believe that when you’re offering a service, you’re only as good as the work you deliver, so it can be difficult to manage. WHICH OBJECT/SPACE DO YOU WISH YOU’D DESIGNED? I always come back to the classics. The 606 Universal Shelving System by Dieter Rams, designed in 1960, is so timeless. For me the things that are most beautiful are those that fulfil a function, too. copperleafstudio.co.za

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WORKING IT

‘QUALITY OVER QUANTITY SHOULD INFORM OUR DESIGN DECISIONS’ CAMILLA FRASER

CAMILLA FRASER, CAMILLA FRASER DESIGN WHAT IS THE MOST CHALLENGING ASPECT OF WHAT YOU DO? That I clearly understand my client’s brief and execute it to their expectations while challenging them on certain design decisions. WHAT’S THE ONE THING YOU WISH YOU’D KNOWN FROM THE BEGINNING? Time and finance management, because it always takes longer and costs more than expected. HOW WOULD YOU DESCRIBE YOUR AESTHETIC? Neo Traditionalist, with a love for the handmade, the unusual and objects or materials that are made from natural fibre. I also favour classic over faddish. We consume so much throughout our lives and quality over quantity should inform our design decisions. And lastly I’m very pro local and support South African talent, such as African Sketchbook, My Tile ceramic tiles and Mungo linen. WHO IN THE INDUSTRY DO YOU ADMIRE? Binky Newman of Design Afrika: she has sourced and developed handmade products for more than 20 years in Africa. All her pieces have design integrity and help sustain rural craft. Plus, I am a basket addict. TELL ME ABOUT THE MOST ENJOYABLE PROJECT YOU’VE WORKED ON? Collaborating with my client Abigail Bisogno, who gives me creative freedom, is not afraid of taking risks and shares my love of leopard print! WHAT WOULD BE YOUR DREAM COMMISSION? An old building with beautiful proportions, a creative client with an extensive collection of Eastern ceramics and African textiles, and an experimental nature. 083 350 7144

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WORKING IT

‘YOU NEED TO KEEP A CLOSE EYE ON THE DETAILS’ BONE DESIGN

NICOLA ORPEN AND HAYLEY TURNER, BONE DESIGN WHAT IS THE MOST CHALLENGING ASPECT OF WHAT YOU DO? Working with unskilled labour, industry constraints and tight budgets while trying to achieve an international standard of work. WHAT’S THE ONE THING YOU WISH YOU’D KNOWN FROM THE BEGINNING? Project management is always a large component of our work, even if you have a dedicated PM. If you want your designs to be executed as you’ve envisioned, you need to nurture them throughout the process – factors change throughout, from site conditions to budget constraints, so a design is ever changing from concept through to completion. You need to keep a close eye on the details. WHO HAS BEEN THE SINGLE GREATEST VISUAL INSPIRATION? We draw inspiration from all over: following artistic blogs, travelling (design fairs and our local surrounds) as well as industry trends. International designers, specifically Diane von Furstenberg, who’s also a strong female creative business icon, give us energy to do great things. WHO IN THE INDUSTRY DO YOU ADMIRE? Beatty Vermeiren Architects. Their symbiotic approach complements exterior and interior beautifully. Tracy Lee Lynch is a creative punch in the face. Her dynamic style and ability to balance an African aesthetic at a European level is exciting and inspiring. WHICH OBJECT/PIECE OF FURNITURE/SPACE DO YOU WISH YOU’D DESIGNED? Hayley: Coming from a textile background, the Climbing Leopard rug by DVF for The Rug Company. Nicola: The Juicy Salif lemon squeezer by Philippe Starck for Alessi who said ‘It’s not meant to squeeze lemons, it is meant to start conversations.’ I wish I had his bravado. WHAT WOULD BE YOUR DREAM COMMISSION? A contemporary face-lift to the classic old lady that is the fictional Grand Budapest Hotel. bonestudio.co.za

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WORKING IT

LONDIWE MBHELE, LSZ PRIMELUX WHAT PROMPTED THE CHANGE IN CAREER DIRECTION FOR YOU? While I’m still involved in fashion journalism, I see interiors as more of an inevitable progression and expansion of my love of creativity – I was introduced to interior design in my early teens where we learnt the basics, such as colour, balance and proportion, and I was sold. Maybe I have returned to a true love. HOW WOULD YOU DESCRIBE YOUR AESTHETIC? It’s a juxtaposition of the old and new or the bygone and contemporary. I enjoy designing something layered, which is an extension of us as humans – we are complex. And because I dabble in product

design, mainly in ceramics, I can say it is contemporary. WHO IN THE INDUSTRY DO YOU ADMIRE? Philippe Starck, simply because of his longstanding career and that he’s really pushed boundaries in design and has made incredible and unforgettable objects. WHAT WOULD BE YOUR DREAM COMMISSION? I love food and there’s something about coming together and breaking bread in a convivial atmosphere, so designing a restaurant would be great – the Social Kitchen & Bar is a good example. It merges things l love, which are food and books, in an industrial, contemporary space. 073 884 4424

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BEDROOMS

Open-plan areas need smart thinking to feel well put together, and multipurpose design is one way to ensure the space works hard. A panel that divides the room and serves as a headboard is the ingenious device that Olivier Chabaud Architects (olivierchabaud.com) used to section off a loft. Mounted lights add to the seamless effect by doing away with the need for side tables

DREAM BIG COMBINE CLEVER DESIGN WITH SENSUAL FABRICS TO CREATE RELAXING BUT FUNCTIONAL SPACES TEXT Julia Freemantle PHOTOGRAPHS Supplied

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BEDROOMS

AHEAD OF THE CURVE 02 Look at existing decor elements

that could serve as a headboard – a discarded window, a weathered shutter. The idea here is to add character, which this arched mirror (mounted on the wall) does. Be careful to maintain balance, however – its vintage appeal and the roughness of the timber wall has been countered with luxurious marbled ‘Spinel’ fabric in charcoal/silver from Black Fabrics’ Anthology collection (blackfabrics.co.za) to elevate the look 03 There’s no rule that says your bed has to be against a wall. Introduce drama by placing it in the centre of the room, using a standing hinged headboard to offer a sense of seclusion. When planning the space, take your cue from Midsummer Milano (midsummermilano.com) by creating a bedroom environment where all the elements – from the linen to the furniture – are in harmony. Consider luxe fabrics (they use Zegna and Agnona cloth) to give the upholstery added polish 04 Casarredo’s Sound Night bed (casarredo.co.za) by Gamma International is a revelation for couples with different habits. The headboard is divided and each side can be adjusted independently. The solid wood frame is covered in Italian leather and available in a range of colours and textures

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BEDROOMS

FREE THINKING n Built-in elements are increasingly being eschewed in favour of loose, freestanding pieces that can be swapped, moved around and altered easily. This thinking can be applied to everything from storage to lighting (use hanging pendants instead of a sconce or lamp). Side tables are the easiest to find quirky substitutes for, such as chairs, piles of books or stools – the one below from Tuck Box Design (tuckboxdesign.com.au) provides a less formal effect

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BEST SEAT IN THE HOUSE 05 Even when working with something super traditional, such as a colonial-inspired, mosquitonetting-clad four-poster, such as this one by Inge Moore of London-based interior design firm HBA, small tweaks can enhance the experience. The elegant grey tone used in the bedrooms at Belmond Eagle Island Lodge in the Okavango (belmondsafaris.com) not only updates the look but also allows greater visibility through the fabric when sitting in bed 06 Architectural details can add visual depth as well as serve a purpose. When in the building stages, consider a permanent headboard-cum-mantel that frames the bed as well as acts as a display surface. Light and breezy, this all-white and wood bedroom scheme is dressed in Linen House’s Haze bedspread 07 Even a quick fix can create an impact. Paint is the easiest and most cost-effective way to create illusion. Don’t be scared to use colour, either – especially in a child’s bedroom

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BEDROOMS

THE INS AND OUTS 08 Blok’s (blok.co.za) design ethos when conceptualising its latest project, NINEonS, was compact, clever design that answers the imperative of urban living – multipurpose spaces. These drawers built into the bed base are a clever yet simple way to utilise every inch of space in an apartment without sacrificing a sleek, contemporary aesthetic 09 The Fitted wardrobe by Rodolfo Dordoni for Poliform (poliform.it) is an ode to lightness – where the wardrobe enhances the brightness of the spaces thanks to the thinness of the structure. The design features smoky almost-transparent doors – lit from within – that are both dramatic and very modern, creating the effect of a contemporary boudoir. The Senzafine island adds to this dressing-room space with additional easy-to-access storage in a luxe execution 10 Storage on show is no longer a no-no – the idea of creating a feature out of a rail is in keeping with an urban, open-plan way of living and can be charming if you keep it tidy. An idea to prevent the area from feeling unfinished is to paper the walls in a feminine pattern – this dressing space is an example, where a pretty design from Silk & Cotton Co (silkco.co.za) keeps the look light and elegant

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P R I VAT E M

LAUNCHING 18JUNE2016

R E S I D E N C E R

WORKING IT

WELL COMPOSED T T L

L T

TEXT Kelly Berman PHOTOGRAPHS Sarah de Pina

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hen loo out my office indo to my left and ri ht all see is trees trees and more trees says erry pufane mana in director of aatchi el in o ur nly six years after i e el founded the a ency hose or for rands such as e and ando s led to its d ocus ency of the ear status the company has ust mo ed into a stri in ne lac and hite uildin y rchitects et in leafy ou hton it may e ut the uildin s plush interior is per cent ur an sophistication than s to

MAY 2016

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a restrained ut comfort conscious approach y Tonic s Gre Gam le hilippe an der er e and licia eet e Tonic as char ed ith ma in the office feel more li e an art allery one you could play relax concentrate and colla orate in ore than pieces from the a ency s extensi e collection are i en pride of place in the numerous common areas hose intense lashin s of colour and airy open spaces are eared to inspire the inno ati e minds at or t s a creati e illa e says pufane an office that feels more li e a home for the approximately sta ho or at the roup s four companies aatchi el di ital a ency reati e par media a ency aatchi onnect and aatchi frica

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Kirsten Lilford’s painting of high-profile advocate Jeremy Gauntlett polishing his shoes hangs in the boardroom OPPOSITE Tonic selected items from its own collection of streamlined furniture to complement the agency’s extensive art collection, which here includes pieces by Sarah Biggs, Ian Grose and Leonce Raphael Agbodjelou

‘OUR PHILOSOPHY IS TO APPROACH EVERYTHING WITH BRUTAL SIMPLICITY’ JERRY MPUFANE, MANAGING DIRECTOR

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WORKING IT

THE BUILDING’S PLUSH INTERIOR IS 100 PER CENT URBAN SOPHISTICATION WHY CHOOSE TO BUILD ON A BARREN PIECE OF LAND? Primarily, we wanted to create an inspirational and comfortable office for our employees. We are, after all, a creative agency. Considering we’re growing and there are a number of unique companies in our group, we needed to be in the same space. It’s also better to own your premises. HOW IS M&C SAATCHI ABEL’S PERSONALITY REFLECTED IN YOUR OFFICE SPACE? Our philosophy is to approach everything with brutal simplicity, whether it be the processes we apply in running the business, how we get to our ideas or the creative solutions we offer our clients. We believe that simple messages are easier to understand and are retained for longer. Everything about this philosophy is reflected in our building: its black-and-white colour scheme, simple navigation, open spaces and artwork. HOW DO YOU FIND WORKING WITH TONIC? Being a professional services company, they know what they’re doing and understand our sentiment, culture, vision for our building and our business. They also get the art gallery thing – that we wanted an environment to enhance creativity and facilitate inspiration. Their pareddown aesthetic matched perfectly with our focus on simplicity. TELL US ABOUT YOUR OWN OFFICE I have only what I need. There is no piece of furniture that doesn’t get used every day. Anything else is superfluous. ANY FAVOURITE ARTWORK ON THE WALLS? Kirsten Lilford’s painting of Jeremy Gauntlett – the famous senior counsel involved in many high-profile cases – captured in a rare family moment [see previous page].

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CLOCKWISE FROM TOP LEFT Adjoining the boardroom is a multipurpose dining/ meeting area that mixes natural materials such as wood and marble; the red lounge area on the second floor features a painting by Iranian-South African artist Sepideh Mehraban; the building wears its corporate colours â&#x20AC;&#x201C; black and white â&#x20AC;&#x201C; on its exterior; in the blue lounge is Out of Step/Glow of Hope, a collage by Karin Miller OPPOSITE Colour-themed chill-out zones on each floor are clearly visible from the interior stairwell. On the first floor, two photos by Kenyan artist Cyrus Kabiru look out over the space

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LUXURY TREND

WATCH THE SALON INTERNATIONAL DE LA HAUTE HORLOGERIE (SIHH) IN GENEVA IS THE WORLD’S MOST EXCLUSIVE LUXURY WATCH SHOW, WHERE STANDARDS ARE SET AND TRENDS ARE FORGED TEXT Charleen Clarke PHOTOGRAPHS Supplied

he world’s wealthiest – largely dressed in black – sip Champagne, sampling foie gras and talking in hushed tones. This extraordinary gathering? The annual Salon International de la Haute Horlogerie (SIHH) in Geneva. Some say it’s strategically timed so that it’s ahead of Baselworld. Not that you can compare them, really: they’re both leading watch events but only anyone who is anyone is asked to the SIHH – top watchmakers (many of them part

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of the Richemont stable) ask pre-eminent clientele, dealers and a smattering of journalists to attend. Within the world of luxury watches, this is the invitation to receive. The most incredible timepieces are on display and (if you’re an extremely lucky journalist or a massively wealthy buyer) there’s the chance to chat to higherups from the maisons. The SIHH is also a sure indicator of the future of watchmaking; it’s the only trend barometer worth measuring. So what’s the forecast for this year?

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LUXURY TREND

THE DAYS OF LUXURY TIMEPIECES HAVING EXORBITANT PRICE TAGS ARE OVER SURPRISINGLY LOW PRICES

BRAND BOUTIQUES

The days of luxury timepieces having exorbitant price tags are over. Montblanc, for instance, launched its Heritage Chronométrie Collection (bottom right) at the SIHH. It’s a snap at €2 850 (with a strap) and €2 950 (with a steel bracelet). It made sense to target a wider audience, Jérôme Lambert, the company’s chief executive officer, exclusively revealed to Real Estate at the SIHH. ‘We’re not dropping our standards – these value offerings still have the DNA and soul of our maison,’ he stressed.

While there may be exceptions in South Africa – Cartier, Montblanc and Panerai (its first shop in Africa opened in February this year) – the maisons more commonly have brand boutiques overseas. And now, more and more are opting to sell selected timepieces through their own stores. Typically, these are limited editions, such as Piaget’s Emperador Coussin XL 700P, a cushionshaped watch that was revealed at the SIHH and has an exclusive 118 pieces. Some say this could lead to higher prices because the maison has no competition. Others say that prices could drop because the middleman has been eliminated. This is, of course, a moot point – cost is largely irrelevant to top-end buyers.

SURPRISINGLY HIGH PRICES While Montblanc was offering luxury timepieces with a (relatively) affordable price tag, it was clear that economic woes have not deterred watchmakers from producing the occasional super-opulent timepiece. Richard Mille divulged its RM50-02 Tourbillon Split Seconds Chronograph at the SIHH. Developed in partnership with Airbus Corporate Jets, it costs $1 050 000 and only 30 will be produced. Incidentally, the company also launched a nifty mechanical fountain pen, the RMS05, which features a nib that pops out at the push of a button. Compared to the watch, it’s a steal at €91 600 (plus local taxes).

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WATCHES AS JEWELLERY This is neither new nor surprising but it was emphasised at the SIHH when Cartier dazzled visitors with a flamboyant collection of 13 distinctive timepieces. While each was extraordinary, three stood out: the Tourbillon Mystérieux Azuré pendant watch calibre 9463 MC (right), Dragon Mystérieux watch calibre 9981 MC and Panthère Mystérieuse pendant watch calibre 9981 MC. The culmination of thousands of hours of work, these white-gold creations feature a treasure chest of jewels – with the additional benefit of being able to tell the time.

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LUXURY TREND

BESPOKE TO THE FORE Now, even limited pieces are not considered exclusive enough, with many maisons confirming that it’s truly customised items that are gaining the most popularity. This trend was indicative of the way in which the world is changing, explains Dominique Bernaz, the head of Atelier Cabinotiers (the bespoke arm of Vacheron Constantin). ‘Designer brands have become so accessible that they’re almost commonplace. As a result, bespoke is becoming sought-after among the mega wealthy. The kind of clients I deal with have custom cars and buy original paintings so expect a level of exclusivity,’ he told Real Estate.

GOLD REGAINS ITS SHINE There was a time when gold watches were considered crass but this is no longer the case and this year, gold outshone steel by nearly two to one. That said, few were yellow gold. Rather, rose, pink, red and white dominated.

POWER OF THE PURSE In the past, the luxury watch market was predominantly the domain of men but now brands are finally aware of women’s buying clout and adjusting their strategies accordingly. As a brand that has long treated their female audience with the same importance as their male buyers, Piaget (right) has a 50 per cent female customer base. The increased focus on women is thanks to their changing interests, explains Chabi Nouri, the director of marketing, communications and brand equity. ‘They’re far more interested in aspects such as movements than ever before,’ she says. To capitalise on this growing interest, a number of brands such as Piaget, Cartier, Jaeger-LeCoultre (previous spread, main image) and Roger Dubuis have tailored collections specifically to women.

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RETRO STILL RULES Luxury watchmakers and legacy are synonymous – the story, the craft, the past: these are all intrinsic to their perceived value and this is reflected in their pieces. Panerai always looks to its history before creating anything new. Its CEO, Angelo Bonati, is passionate about remaining true to the maison’s heritage despite criticism that his watches are large and too weighty. ‘Yes, the Panerai watch is heavy. It is big; it is strange. But it is different and it has a strong personality. Most importantly, there is a history here,’ he says. The new models in its Radiomir 1940 collection (previous spread, bottom left) reference those created for the commandos of the Italian navy in the forties. Accordingly, the case is made of AISI 316L stainless steel with a polished finish and it is water-resistant to 10 bar (a depth of about 100m).

BLUE IS THE NEW BLACK Black – which used to be the most popular dial colour – isn’t the only obvious choice any more. Take, for instance, the latest Vacheron Constantin Overseas models (left) which feature a translucent blue lacquered face that perfectly offsets the luminescent gold hands and redesigned Arabic numerals. Incidentally, the new sports watches come with nifty interchangeable bracelets and straps.

STRAPS ARE MORE IMPORTANT Previously, the face was the main event but maisons such as JaegerLeCoultre, IWC Schaffhausen (below), Roger Dubuis, Vacheron Constantin and Montblanc all concentrated on straps at the SIHH. Some of these companies are even going in-house – Montblanc’s Jérôme Lambert says that the maison produces its own straps in Italy. Others have partnered with specialists. IWC, for instance, is working with Italian shoe manufacturer Santoni, and Roger Dubuis has partnered with Parisian brand Massaro.

WATCHMAKERS AND LEGACY ARE SYNONYMOUS – THE STORY, THE CRAFT, THE PAST ARE ALL INTRINSIC www.realestatemagazine.co.za

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W E A LT H R E P O R T

LUXURY TRENDS

WEALTH THE ANNUAL KNIGHT FRANK WEALTH REPORT SHEDS LIGHT ON HOW THE SUPER-WEALTHY ARE INVESTING THEIR MONEY TEXT Madelaine Ollivier and Ben Kinnard (Wealth-X), Andrew Shirley and supplied PHOTOGRAPHS Supplied

Last year, the most expensive work in the modern-art world was sold to a museum in Qatar for $300 million: When Will You Marry? by Paul Gauguin (this image). Picasso’s Women of Algiers also broke records for a painting sold at an auction after reaching more than $179 million, while Reclining Nude by Modigliani wasn’t far behind, going under the hammer for $170 million to a buyer from Shanghai. Clearly, 2015 was ground-breaking. The overall art index rose by a muted 4%, however, as other genres fared less well during the course of the year. Classic cars were the top-performing passion investment with an annual growth of 17%, and the hunger of ultra high net worth individuals (UHNWI) to collect the world’s most desirable objects seemed stronger than ever when a Hong Kong businessman paid the top price ever achieved for a piece of jewellery: the Blue Moon diamond. The value of the Knight Frank Luxury Investment Index (KFLII) rose by 7% in 2015. This compares with a 5% drop in the value of the FTSE 100 equities index and a rise of only 1% for the top end of the London residential market. But this masks a mixed performance across the 10 asset classes in the KFLII: classic cars (+17%) continue to top our league, with furniture again bringing up the rear (-6%). Even furniture secured a new high for a living maker, however, when Phillips sold a Marc Newson Lockheed Lounge couch for £2.4 million in a slew of stellar auction results.

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W E A LT H R E P O R T

GLOBAL LUXURY SPENDING PATTERNS 11

200

0 20

300

100

150

CLASSIC CARS Eight of the 25 cars ever to have sold for more than $10 million at auction went under the hammer in 2015 (although none managed to beat the record set by Bonhams in 2014 when it auctioned a 1962 Ferrari 250 GTO Berlinetta for $38 million). These included all-time-high results for: n McLaren $13.75 million – interesting because of its youth) n Jaguar ($13.2 million) n Porsche ($10.1 million) Despite this, growth is slowing and is considerably lower compared with the 12 months leading up to September 2014, when the HAGI Top Index zoomed up by 25%, explains Dietrich Hatlapa of analyst HAGI. This is due to the fact that the collector market is reacting to a downturn in global liquidity and potential interest rate rises.

Wealth-X’s index is based on the proportion of UHNWIs from each of the principal geographic regions who own at least one of the following luxury assets – yachts, private jets, collectables (fine wine, antiques, art, jewellery and watches) – and a luxury vehicle worth more than $100 000. This allows Wealth-X to compare the likelihood of a UHNWI from a particular region owning a luxury asset against the global average. The overall index is equally weighted across the four asset classes. In a world where many UHNWIs are cash rich yet time poor, yachting continues to provide the ultimate sanctuary for privacy and an opportunity to spend quality time with family and friends. Currently, North American UHNWIs are below the global average for yacht ownership. However, due to the high levels of wealth in the US, it’s expected ownership will increase. In Asia, there tends not to be such an affinity with the sea, compared with countries in the Pacific and Europe. This could be one reason for the lower proportion of Asian yacht-owning UHNWIs. UHNWIs in Africa and Latin America show a much stronger propensity for private jet ownership (2.0x and 1.59x respectively) than the global average. Poor commercial travel infrastructure within the regions, combined with significant travel distances between business hubs on each continent, could be a contributing factor to this high demand. The index highlights that, within Africa, the number of UHNWIs with a luxury automobile is 1.55x the global average. Although wealth in Africa is extremely concentrated in certain countries, we see growing potential for luxury brands including high-end auto marques. Despite ongoing difficult economic conditions in many emerging markets, the appetite of wealthy collectors hasn’t diminished. If anything, during periods of economic uncertainty, many wealthy individuals in these markets look for tangible investments such as paintings (particularly the contemporary, modern and impressionist genres), which will appreciate in value, as opposed to luxury clothing and leather accessories. The Luxury Spending Index shows that UHNWIs in Europe are almost twice as likely to own a collectable compared with the global average. UHNWIs in Asia and Latin America, however, are below the global average.

8.5% Mercedes-Benz 300SL

4.1% Ferrari 275 GTB/4

2.6% Shelby Cobra

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JEWELLERY

WINE

ART

A Hong Kong-based billionaire set an all-time record for a gem or piece of jewellery when he bid US$48.4 million for the Blue Moon, a rare, vivid-blue diamond auctioned by Sotheby’s Geneva in November. The day before, he paid $28.5 million for a brilliant pink diamond sold by Christie’s.

Wine had a good year with the Knight Frank Fine Wine Icons Index up 5%. Many of the investmentgrade Bordeaux wines have now started to recover from the slump induced by the sharp drop in Chinese demand, says Nick Martin of Wine Owners, which compiles the index.

Contemporary and modern artists have performed particularly well this year, with Picasso’s Women of Algiers setting an all-time auction high of $179 million through Christie’s in May. Many other artists, including Modigliani ($170 million) and Twombly ($70.5 million), also scored personal bests.

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W E A LT H R E P O R T

SOCCER While the playgrounds of the superrich are constantly changing, a new generation of young, extremely wealthy entrepreneurs and business people are looking for new ways to invest their money. Not everyone who buys a club is a fan nor do they own the club as a status symbol. They may not even be viewing ownership as an opportunity to increase the target audience for another of their businesses. There is money to be made. According to Deloitte’s annual Review of Football Finances, EPL revenues rose 29% last year from £2.5 billion to £3.3 billion. Wages have increased by just 6%, far less than anyone expected. In February 2015, the league sold television rights to its games for a record £5 billion, 71% above the previous deal. Many assume that this growth cannot be sustained exponentially, but others believe that increased TV revenue is linked to the globalisation of football, and in that sense there is plenty more audience to capture and monetise. There are other key revenue streams: ticket sales, of course, being one. But you can buy a season ticket at Bayern Munich for the equivalent of £104 and Barcelona for £74, which is less than the cheapest available in the top four leagues in both England and Scotland. So how have Barcelona and Bayern Munich become the second and fourth richest clubs in the world respectively, in spite of (relatively) cheap season tickets? There is another strand of revenue aside from broadcasting and match-day income: commercial revenue. There are rights and major sponsorship deals on a regional or global level. Bayern has the second-largest kit deal in the world, a 15-year contract with Adidas worth £42.5 million a year to the German club. However, even this pales in comparison to Manchester United’s deal, also with Adidas, worth £75 million per year. There are also other properties for sale: stadium naming rights, training kit deals, leisurewear partners; Manchester United even has an official Global Noodle Partner. The list, the potential and therefore the income, is almost endless.

IMPORTANT CITIES ‘Our survey results confirm that London and New York’s positions at the top of our survey results look invincible for the immediate future due to their long-established lead over other cities,’ says Liam Bailey, head of research at Knight Frank. ‘However, further down the leader board, the main battleground is Asia, where our respondents predict that Shanghai will eclipse Hong Kong’s position, in terms of its importance to the wealthy over the next 10 years.’ The report also looks at which city has the best connections to the world’s wealthy. This analysis was undertaken by combining an assessment of city level UHNWI population and flight time. Paris tops the list as the most accessible city to UHNWIs based on travel time, with more than 16 900 UHNWIs living within two hours of the city. Although New York has the most UHNWI residents, London’s geographical position means that within a two-hour flight time, the city is accessible to more than 16 000 UHNWIs, compared to New York’s 8 300, helping to explain London’s primary importance to the global UHNWI population. The concentration of wealth within Europe propels cities in this region high up the ranking of ‘wealth accessibility’ on this measure.

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W E A LT H R E P O R T

SECOND-HOME HOT SPOTS

The world’s leading prime residential property markets rose on average by 1.8% in 2015, according to latest PIRI results. This was similar to the 2% growth a year earlier. The gap between the strongest- and weakest-performing luxury residential markets in the PIRI 100 has shrunk considerably from 97 percentage points during the tumultuous times of 2009, to 45 points in 2015. Despite this convergence, the index still had some significant outperformance last year. Vancouver leads the rankings by some margin, with prices accelerating 25% during 2015. A lack of supply, foreign demand and a weaker Canadian dollar explain the city’s stellar performance. Antipodean markets also performed strongly. Sydney, Melbourne and Auckland all recorded double-digit annual price growth, up 15%, 12% and 10%, respectively. Of the 34 locations where prime prices slipped in 2015, 22 were located in Europe. Yet there is renewed optimism that prices in the region’s most popular second-home destinations, particularly Spain, Italy, the Algarve and parts of the Côte d’Azur, are close to bottoming out. The relaxation of cooling measures in some Chinese cities has had an immediate impact, with luxury prices in Shanghai at the end of 2015 14% higher. Despite areas of growth, the world’s emerging markets are not the shining beacons they were two to three years ago. The US Federal Reserve’s recent rate rise, the resulting strong dollar and the collapse in commodity prices all help to explain why Buenos Aires (-8%) and Lagos (-20%) are located at the end of the PIRI 100.

AUSTRALIA’S GOLD COAST A popular second-home destination, the arrival of the Commonwealth Games in 2018 has kick-started investment, with a new light rail system and a AU$200 million airport expansion planned. Competitive prices, compared with Australia’s top cities, plus strong fundamentals – local population growth and expanding tourism – underpin demand along the 57km coastline.

CÔTE D’AZUR A perennial favourite with the super wealthy, the south of France is in the nascent stages of recovery. Last year there was an upturn in sales activity, with strong demand for the village of Mougins and the exclusive Cap d’Antibes.

IBIZA The island’s prime market continues to outperform mainland Spain, with areas such as San Jose, the marina and properties in Ibiza Old Town generating strong interest. Year-round flights from most top European cities, good international schools and strong 4G internet connection have persuaded many wealthy young professionals in northern Europe to either relocate or commute long distance.

CONTENT EXTRACTED FROM Knight Frank’s The Wealth Report, www.knightfrank.com/wealthreport

UNPACKING THE PIRI 100

Australasia

North America

Asia Pacific

Latin America

8.8%

6.7%

3.7%

3.2% 2.9%

Russia & CIS

Africa

12.4%

Europe

Middle East

A PERENNIAL FAVOURITE WITH THE SUPERWEALTHY, THE SOUTH OF FRANCE IS IN THE NASCENT STAGES OF RECOVERY

0.1%

HOUSE PRICE GROWTH BY WORLD REGION Average 12-month % change to Q4 2015

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ADVERTORIAL

THE GARDEN ROUTE’S GEM OUBAAI: THIS MAY JUST BE YOUR NEW HOME

FOR MORE INFORMATION, VISIT OUBAAIGOLFESTATE.CO.ZA, CALL 044 851 0164 OR EMAIL INFO@OUBAAIHOA.CO.ZA

MAY 2016

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n 2001, it was the beauty of Oubaai that inspired Ernie Els to design an 18-hole championship course, his first in South Africa. ‘Oubaai is the place where I have incorporated and put into practise all the challenges and all the experiences I have gained from playing the greatest courses around the globe,’ he says. This in turn inspired a golf and lifestyle estate: a collection of contemporary homes and apartments with some stunning views. Fancy a life of relaxation? It’s here you’ll find 242ha of natural habitat to explore as well as a fivestar hotel and spa. Today, Oubaai is one of the country’s premier golf resorts with some of its most outstanding real estate. Residents are encouraged to make the most it in a secure environment. Surrounded by rivers, forests, mountains and sea, Oubaai was made for relaxed outdoor or adrenalinefilled adventures. While you’re at liberty to lose yourself in the resort’s natural beauty, it’s only an eight-minute drive to George Airport, where you’ll soon be on the next flight to Joburg, Durban or Cape Town.

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2016/04/19 2:46 PM

ADVERTORIAL

SITARI COUNTRY ESTATE SEAMLESSLY MERGES LUXURIOUS COUNTRY LIVING WITH MODERNDAY CONVENIENCES

FOR MORE INFORMATION, CALL 087 890 0033 OR SIGN UP FOR PRELAUNCH NOTIFICATIONS VIA THE WEBSITE: SITARI.CO.ZA

MAY 2016

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ADVERTORIAL

LUXURY

THE CAPE’S AWARD-WINNING ESTATE, SITARI COUNTRY ESTATE IN SOMERSET WEST, PRESENTS A DEVELOPMENT LIKE NO OTHER

SPEND TIME IN NATURE

GET THE BEST IN DECOR

Sitari Country Estate intricately combines 3 150 residential opportunities with open green spaces, herb gardens, orchards, ponds and tranquil trickles of water. Children can run wild while parents enjoy slow evening walks along the 14km bike path stretching through the estate. The reinstatement of the second-largest vlei in the Helderberg Basin – Sitari’s Zeekoevlei Wetland – will also bring the outdoors to residents’ doorsteps. The area is surrounded by the rolling hills of the Helderberg and Hottentots Holland Mountains, and is home to a beautiful array of fauna and flora, meaning that visits from rare South African creatures such as genets and black eagles can be a lovely surprise for Sitari residents.

Five types of property developments are available, including luxury and premium apartments, village homes, country homes and country plots. Each is curated with incredible attention to detail, from the ceilings, light fixtures and windows, to the bathroom taps, kitchen appliances and flooring. Purchasers also have the option of building their dream home on the country plots. Sitari’s options cater to every family’s requirements from young couples who are ready to move in to families and investors.

ENJOY SECURE LIVING Visitors are required to enter through either the 1 849m2 main gatehouse complex or secondary gatehouse, both of which will have biometric readers, number-plate recognition and 24/7 staffed access control. Boundary walls on the outside of the estate will feature underdig protection, serrated strips, anticutting and anticlimbing, with electrics on top as well as Future Fibre Technologies with heat-sensitive triggers. Each junction inside the estate will have four-way cameras connecting to the control room.

FOCUS ON YOUR CHILD’S EDUCATION In 2016, the fastest-growing independent school brand in South Africa, Curro, opened its doors to more than 2 000 children at Sitari. As the leader of outstanding education facilities across the country, Curro strives to create the sustainability needed to ensure an ongoing level of excellence in learning.

A total of 124 sectional title apartments are set for completion in December 2016 and early 2017 respectively. In addition, both phase one and two of the country plots are completely sold out, testament to the lifestyle, convenience and luxury that is presented at this award-winning country estate. Phase three will soon be launched with much interest from potential clients.

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The ultimate lifestyle investment exclusively for the over 50s. Only 10 units left in Phase 2. Priced from R1.45 million - R4 million. Price includes Transfer Duty and VAT. Rentals available.

Situated in one of the fastest-growing investment areas of Johannesburg, near Greenstone and Stoneridge Shopping Malls, and close to Sandton, Midrand, the new Gautrain Station (proposed for 2019) and O.R Tambo International Airport, Heritage Estate offers a superior community lifestyle for over 50s looking to retire in the stately elegance of a Heritage property set in parklike surrounds. Covering an area of four hectares, the focus of the Estate is the stately Heritage House, built in 1910 and surrounded by an enchanting Oval and a Pavilion, plus indigenous landscaped gardens with heritage trees. The homes are elegantly designed with superior-quality interiors, space and excellent security. The estate guarantees peace of mind for making the lifestyle of health and wellbeing a priority in a village of Sectional Title simplex, duplex and penthouse units. Home-based assisted care services will enable residents to age gracefully with minimal concerns. A state-of-the-art Clubhouse will offer a restaurant, library and business centre, and top-quality security will be provided, ensuring residents' safety. Other convenient features include a shuttle shopping service and fibre optic backbone to units. ON SHOW TUESDAY - SATURDAY 10AM-4PM. SUNDAY 10AM-5PM. Follow pointers from Modderfontein Road into Peace Street.

Sally Wright 082 806 3069

GAUTENG DEVELOPMENTS Office: 011 923 4400 pamgolding.co.za/property-developments

PROPERTY NEWS, REPORTS, AND DREAM HOMES FOR SALE

TEXT Genevieve Putter and Michelle Snaddon PHOTOGRAPHS Supplied

NO DRY WALL DRAMA Property developers, architects and even art gallery and restaurant owners: everyone wants to know more about Habito. When it comes to customising interiors, this new dry wall product is unbelievably strong. It can hold artwork, flat screens, shelving, scooters – practically anything you like – with ease (up to 15kg of weight with one woodscrew, making it tougher and stronger than other plasterboards). And better yet, you don’t need a drill to hang heavy items: simply screw it straight into the wall. How about resistance to knocks and bumps? Anyone who has lived with dry walls may be sceptical but Habito is reinforced, which minimises damage. As a result, it’s also a better insulator and sound absorption is increased, making most spaces calmer, more comfortable and more restful. The technical jargon, for those in the know, is that it’s soundproofed and insulated with a systems rating of RW 43 DB, which also gives it enhanced acoustic properties. habito.co.za

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MARKETPLACE

PLASTI-CITY Berlin-based photographer Laird Kay, whose mother is South African and who spent many a holiday in the Kruger National Park, has more than 24 000 followers on Instagram thanks to his gripping aviation and travel imagery. His latest body of work, ‘Lego City’, comes out of his travels to various metropolises around the world and his fascination for their architecture. Built out of thousands of Lego blocks by Kay’s husband, Raymond Girard, the models are of some of the world’s best-known megacities, including Dubai, Hong Kong and New York. The project was artdirected and photographed by Kay who, while travelling through these urban centres, became fascinated by how modern cities continuously destroy, make over and replace buildings as trends and aesthetics change – making them seemingly disposable and not built to last, like plastic. lairdkay.com

KEEN GREEN Green building is forecast to double globally by 2018. South Africa is currently one of the top performers worldwide in the number of green building projects underway. And our commitment isn’t triggered by regulatory requirements, as is the case in many other countries, but by a desire to do the right thing. These and more interesting green building facts can be found in World Green Building Trends 2016, recently published by Dodge Data & Analytics and United Technologies, on which the World Green Building Council (WorldGBC) was a research partner. worldgbc.org

BANK ON THIS The award-winning Heron Banks Golf and River Estate is situated on 3km of riverfront property along the Free State bank of the Vaal. Its location, just 45 minutes from Joburg, makes it an idyllic and convenient escape from the city and offers an outdoor lifestyle to suit corporates, young families and retirees. Stands start at R775 000 each, but there are also the options of a building package, sectional-title townhouses (starting at R1.295 million each) and the new Duet developments, coming soon – plus the estate is even building more boathouses. heronbanks.co.za

GO ONLINE For more on these stories, visit our website: realestatemagazine.co.za

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My new apartment... Find thousands of apartments for sale on Private Property.

R 1 845 000 NEGOTIABLE

2 bed Apartment in Norwood 45 PARKLANDS DRIVE, PARKWAY

A home for everyone w w w. p r i va t e p ro per ty.c o.z a

MARKETPLACE

AREA SPOTLIGHT> SOMERSET WEST This provides a current snapshot of the Somerset West residential property market.

DEMAND INDICATOR METRICS n Sale listings Properties listed for sale in Somerset West comprise approximately 17% of the total sale listings in the Boland. Approximately 23% of the interest (views) in properties for sale in the Boland is attributable to properties for sale in Somerset West. n Rental listings Properties listed for rent in Somerset West comprise approximately 29% of the total rental listings in the Boland. Approximately 26% of the interest (views) in properties for rent in the Boland is attributable to properties for rent in Somerset West.

PROPERTY TYPES n Sale listings A typical property for sale is a three-bedroom house, currently with a median asking price of R2 993 000. n Rental listings A typical property for rent is a three-bedroom house, currently with a monthly median asking price of R19 000.

MEDIAN ASKING PRICES

LIVE IT UP Take full advantage of luxury estate living at De Velde in Somerset West, whether you’re looking for secure one-, two- or three-bedroom spaces. The tranquil spa and wine cellar add a decadent touch, while the gym (affiliated with Discovery Vitality), two swimming pools and squash facility will entice fitness enthusiasts. The quality interior design and development’s community feel also hold definite appeal. develde.co.za

NATURE MEETS MODERN Subtly merge olive groves, orchards, water features and landscaped gardens with 3 150 beautifully designed apartments. The result? Somerset West’s Sitari Country Estate. The award-winning security complex fuses its natural heritage – the land dates back to the 1700s and includes Klein Zeekoevlei Wetland – with modern facilities, including a school and country clubhouse. More on page 52. sitari.co.za

n Sale listings The median asking prices for residential property are R1.2 million for a complex, R3.73 million for a house and R760 000 for a flat/apartment. n Rental listings The median asking prices for residential property are R9 000 for a complex, R19 800 for a house and R10 000 for a flat/apartment. Currently, the total value of residential properties listed on Private Property in the area is: n Sales R2 994 460 000 n Rental R828 300

BUYING VS RENTING The monthly bond repayment to purchase a typical property, namely a three-bedroom house, with the median asking price of R2 993 000 is R29 882 per month over 20 years at prime of 10.5% with no deposit. The medial asking rental for a three-bedroom house is R19 000 per month.

These findings used current market data for the period 1 March to 31 March 2016.

GO ONLINE For more on these stories, visit our website at www.realestatemagazine.co.za.

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estlake

eco-estate m o d d e r f o n t e i n

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PROPERTY INVESTOR

A HAND-PICKED COLLECTION OF MAGNIFICENT PROPERTIES

YOUR LAND EASY, COST-EFFECTIVE WAYS TO BEAUTIFY YOUR PROPERTY TEXT Patrick Cairns PHOTOGRAPH iStock

ot everybody is a gardener. Some are simply more gifted at growing plants than others. However, everybody should at least take an interest in keeping their garden attractive. The outside of the house is al ays the rst thin people see and a well-tended approach through a neat yard not only makes a property more appealing but will ultimately become a selling point and increase the value of your home. It needn’t cost a fortune to keep a garden in good shape. The real sweet-spot in landscaping is to use techniques and plants that are inexpensive, attractive and water-wise. A good place to start is testing your soil. This will not only identify what it might lack, but will also help you to know what kinds of plants will grow best. This can save you from spending a lot of money buying greenery that isn’t suited to your garden’s speci c conditions Also consider getting an earthworm farm to turn your kitchen waste into natural fertilizer. It’s a great way to go green, and it’s also a fun opportunity for children to learn about recycling. In South Africa, everybody loves a lawn, but grass can be expensive to maintain and it demands a lot of water. More people are now reducing the size of their lawns and introducing ground-cover alternatives that grow more easily and need less watering. These are especially good in shady areas where grass struggles to grow and on slopes or

inaccessi le spots that are difficult to ater and mow. Alternatives include dymondia, white carpet and water mint. As with all plants, it’s important to consider using indigenous options. These are more suited to the environment and so are likely to be hardier and need less water and attention than exotics. Another option to decrease the garden workload is through hardscaping, which is replacing grass with low-maintenance alternatives such as gravel, slate or a rockery. In South Africa these areas needn’t be bare, either, as there are many colourful and textured aloes and succulents that can be used to give life to stony areas. Also consider proteas, cycads and indigenous bulbs such as crinums, cyranthus and gladioli. When deciding where to leave lawn and where to try other options, don’t only think about the edges of the property, but consider island beds that oat in the la n This creates onderful contrasts, particularly if you add height to the middle of the garden. Also consider placing garden pots elsewhere – not just the veranda or outside the front door. Using containers in your beds and around your borders can add colour and contrast to the garden. Putting more than one pot to ether at di erent hei hts and le els gives you options to play with, too. Once you’ve done your landscaping, don’t squander all your good work by neglecting it. All gardens need to be maintained, so remember to water as necessary, weed, trim and thin out anything that looks like it wants to take over more than its fair share.

NEXT ISSUE OPTIMISING YOUR RELATIONSHIP WITH YOUR AGENT

GO ONLINE FOR MORE INFO

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LH 580

Exceptional homes. Powerful network. Finding your home is a personal process of discovery. The accomplished global network of LuxuryPortfolio.com is ready to assist in the journey. To explore the world’s finest properties, enter the web reference for details.

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R58-MILLION

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BANTRY BAY, CAPE TOWN, WESTERN CAPE, SOUTH AFRICA

In one of the most prestigious addresses along the Atlantic Seaboard, this masterpiece is built on the cliff face of Lions Head, offering 180-degree views of the iconic bay. This spectacular family home flows seamlessly into its verdant garden setting. It is an architectural statement designed by award-winning Van Der Merwe Miszewski architects. A creative and low-maintenance blend of glass, steel and concrete allows for an abundance of light and gives outstanding views from every room and floor. Bedrooms flow out onto the balau decks, which have beautiful sea and forest vistas. Bedrooms 5 Bathrooms 5 Garages 2 Living areas 2 Roberto Campobasso +27 (0)82 450 6639 roberto.c@everitt.co.za www.chaseveritt.co.za web ref: 49074

LH 581

DAINFERN, JOHANNESBURG, GAUTENG, SOUTH AFRICA

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R20-MILLION

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This streamlined architectural home is a contemporay masterpiece befitting its premium location bordering the golf course. Superb flow allows you to make the most of the lightfilled spaces, from the central private study to the spacious reception rooms and state-of-the-art gourmet kitchen. The entertainment area includes a bar, covered patio, built-in gas braai, a putting green and swimming pool heated by a solar pump. An elegant walnut staircase leads up to the top level, where the built-in music system invites you to relax and unwind in the luxurious en-suite bedrooms. Fully furnished option is available. Bedrooms 5 Bathrooms 5 Garages 3 Living areas 2 Brian Falconer +27 (0)82 651 7890 brian.falconer@everitt.co.za www.chaseveritt.co.za web ref: 3259161

LH 582

Celebrating its 10th anniversary this year, Tyson Properties is a specialist real estate agency with more than 20 offices throughout South Africa. Renowned for its excellent grasp of global and local trends, and its holistic understanding of the changing needs of buyers and sellers, Tyson Properties offers a refreshing and professional approach.

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R25-MILLION OR POA

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BANTRY BAY, CAPE TOWN, WESTERN CAPE, SOUTH AFRICA

Designed for sophisticated living and entertainment on a grand scale, The Terraces makes the most of its Atlantic Seaboard position. Flow, space, views, light and superb finishes are key. The open-plan living/dining area opens onto a 142m² patio with private pool, while the state-ofthe-art kitchen features a walk-in fridge. The two sea-facing bedrooms are en-suite, while two additional bedrooms share a full bathroom. A generous study provides a quiet space. Added bonuses are the two-bedroom apartment with living/ dining area and kitchen, a 101m² storeroom, three single garages and direct lift access to each floor. Bedrooms 4 Bathrooms 4 Garages 3 Living areas 2 Gail Gavrill +27 (0)82 777 6000 gail.gavrill@tysonprop.co.za www.tysonprop.co.za web ref: RL22994

LH 558

For more than 20 years, Adrienne Hersch Properties has been fulfilling the real estate needs of sellers and buyers in Gauteng with dedication, passion and integrity. Our business was built on the foundations of traditional family values which include loyalty, trust, dedication and understanding. Adrienne Hersch Properties… welcome home.

MORNINGSIDE, SANDTON, GAUTENG, SOUTH AFRICA

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POA

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This exquisitely finished family home enjoys an incredible position in one of the most sought-after streets in Morningside. The downstairs area includes a bedroom suite plus a lounge, dining room, family room, kitchen, scullery and laundry. The fully enclosed patio can open up completely. Upstairs you’ll find a study and additional bedrooms. Bedrooms 4 Bathrooms 3 Garages 2 Living areas 3 Avrille Grainger +27 (0)84 725 2883 avrille@ahprop.co.za www.ahprop.co.za web ref: ADHS-2631

LH 583

LH 584

Catering to the discerning luxury market.

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WATERFALL EQUESTRIAN ESTATE, GAUTENG, SOUTH AFRICA • R24-MILLION

This magnificent contemporary farmhouse, measuring 1 250m², is set on over two acres of landscaped garden, ensuring a wonderful lifestyle for a family. It features numerous top-end bespoke finishes, and the newly completed top-of-the-range Blue Line kitchen with covetable appliances is a gourmet cook’s dream. It is set within award-winning Waterfall Equestrian Estate, which ensures peace-of-mind security. All four of the bedrooms are en suite. The extra-length and extra-width garaging provides for five cars. Rounding off this enticing property is a flatlet comprising bedroom and kitchenette. Bedrooms 4 Bathrooms 4 Garages 5 Living areas 4 Vivienne Holmes +27 (0)83 455 4701 vivienne@hamiltons.co.za www.hamiltons.co.za web ref: 13280369

PARKVIEW, JOHANNESBURG, GAUTENG, SOUTH AFRICA

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R17,25-MILLION

Views. Elegance. Security. Space. This elegant, generously proportioned cluster home, overlooking the Parkview Golf Course, ticks all these boxes and offers the ultimate in security and lifestyle. With excellent finishes throughout, the home combines many additional features to provide the ultimate in stylish comfort. Entertaining is effortless here, with the double-volume formal sitting room with gas fireplace, and spacious dining and family rooms that flow to the delightful covered patio, as well as a gourmet kitchen with integrated appliances, separate utility room and pantry. The wine-tasting room – with air-conditioned wine storage – is perfect for intimate dining. There are five en-suite bedrooms, with the luxurious main bedroom opening onto a private balcony. A spacious staff suite, four garages with direct access and exceptional storage are suitable finishing touches. Bedrooms 5 Bathrooms 4 Garages 4 Living areas 4 Dee +27 (0)83 458 3660 Grant +27 (0)83 308 5054 www.hamiltons.co.za web ref: 13301313

LH 585

LH At Homes of Distinction we pride ourselves on offering a distinctive quality service to our valued clients, which explains why we conclude many repeat transactions with the same loyal clients and their children year after year.

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BRYANSTON, SANDTON, GAUTENG, SOUTH AFRICA • R19,5-MILLION

Bedrooms 5 Bathrooms 5 Garages 9 Living areas 5 Jonathan Broekman +27 (0)83 444 1155 Wendy Melville +27 (0)83 233 7752 www.homesofdistinction.co.za web ref: RL111

BRYANSTON, SANDTON, GAUTENG, SOUTH AFRICA • R19-MILLION

Enjoy an elegant yet relaxed lifestyle in this magnificent Georgian-style residence in a secure private estate. Superior finishes set the scene for the luxurious comfort within: the grand entrance hall has a marble staircase that leads to four spacious receptions rooms overlooking the beautiful manicured garden with pool and Jacuzzi. The magnificent kitchen with its built-in appliances has an inviting breakfast room where you can get your day off to a happy start. The four luxurious bedrooms are all en suite, while living spaces include a pyjama lounge, fitted study and a further en-suite teenager’s pad/guest cottage with kitchenette and private entrance. Four auto garages and a double staff suite complete this impressive home. Bedrooms 4 Bathrooms 4 Garages 4 Living areas 4 Jonathan Broekman +27 (0)83 444 1155 Wendy Melville +27 (0)83 233 7752 www.homesofdistinction.co.za web ref: RL62

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A magnificent 6 000m2 garden is the setting for this timeless residence in a mini estate, which has space for the entire family and then some. The main residence includes three grand reception rooms that overlook the beautiful garden and pool; five bedroom suites (which served as a luxurious B&B during FIFA 2010); two studies; and a poolhouse/gym. The property also includes a beautiful new ‘granny’s house’ with a lift to the lovely reception room with central kitchen, two/three bedrooms, two bathrooms and a study. And then there is the 150m2 treehouse cottage, plus a staff cottage for three and nine garages. At approximately 1 800m2, this fabulous residence is absolutely perfect for a large and extended family

DREAM HOME

I WA N T T O L I V E I N â&#x20AC;Ś

T H E S E YC H E L L E S OTHER SEYCHELLOIS RESIDENTIAL RESORTS n Eden Island edenisland.sc, pamgolding.co.za/international-property/ seychelles n Pangia Beach pangiabeach.com n Zil Pasyon zilpasyon.com

USEFUL CONTACTS n Seychellois High Commission in Pretoria 012 348 0270, sez@seychelleshc.co.za n Seychelles Government Portal egov.sc n Seychelles Investment Board sib.gov.sc n Seychelles Tourism Board seychelles.travel

TEXT Jocelyn Warrington PHOTOGRAPH Supplied

Situated on a pair of headlands overlooking Petite Anse Bay, on the southwest coast of MahĂŠ, the Four Seasons Private Residences are part of a 70ha development set in an undulating landscape of granite peaks and tropical greenery. Of the 27 freehold residences, eight remain for sale, offering a choice of three- to six-bedroom villas. Designed by acclaimed architect Cheong Yew Kuan, each is constructed on stilts with wooden walkways connecting the separate living and sleeping pavilions. Large teak sun decks frame infinity swimming pools, providing breathtaking ocean views. Owners can choose from two furnishing options: French chic or British contemporary. The villas are on the market from $7 250 000 (approximately R110 million) through Sphere Estates (sphereestates.com).

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PROPERTY SALES AND TRUSTS: TREAD CAREFULLY In the June 2015 ruling in Smith v ABSA Bank Limited, the court commented that â&#x20AC;&#x153;[t]his case yet again demonstrates the need to be careful when dealing with a trustâ&#x20AC;?. The facts dealt with an installment sale agreement entered into by a trust as purchaser, and the related suretyship granted by one of the trustees in her personal capacity. When the trust defaulted on payments, the bank issued summons against the surety. The latter however argued that since the sale agreement was void (due to inadequate authority on the side of the trustee who signed it), the suretyship suffered the same fate. The Court agreed, holding that where, as in this case, the trust document required at least two of its trustees to act jointly when entering into certain agreements (which included an installment sale agreement), the agreement lacked validity if only one trustee - in the absence of a prior written consent from the other trustee to do so - signed the contract. The suretyship fell by the same sword.

Parties involved in real estate transactions often underestimate the range of complexities involved. Prudency therefore makes the appointment of an expert property law attorney a must. Remember, practice dictates that the seller has the choice to appoint the conveyancing attorney in a sale. Purchasers may negotiate to appoint a conveyancing attorney of their choice or may choose to obtain their own separate legal assistance. Contact us at info@stbb.co.za or on www.stbb.co.za for expert property law assistance.

WHEN IT COMES TO HOME OWNERSHIP, LET OUR FAMILY LOOK OUT FOR YOURS

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