Business Day Home Front 05 February 2016

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FRIDAY, FEBRUARY 5 2016

HOMEFRONT PAGE 2

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DECOR AND DRAMA AT THE GREENHOUSE

CULTURAL SCOOP: FINE ZIM ART

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GLOBAL RESIDENCY? NINE OPTIONS

REITS AS A PROPERTY INVESTMENT

Welcome SA’s super estates From one end of the country to the other, the 2015 buzz words were ‘super brands’ or ‘super estates’. Developers have been increasingly refining mixed-use self-contained estates to meet investors’ revised definitions of luxury WORDS ANNE SCHAUFFER :: PHOTOS: SUPPLIED

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Constantia Rural, Cape Town

Asking R12.5 million

Sunny north facing home situated in a highly sought-after, exclusive security estate. Formal and informal living spaces with easy flow to entertainers patio and pool. Modern open-plan kitchen with Smeg gas stove, 4 en-suite spacious bedrooms plus study. Garaging for 4 cars plus lots of visitors parking space. Eileen O’Sullivan 082 410 7204, Jacques Fourie 072 304 7957

Each office is independently owned and operated

Hout Bay, Cape Town

Asking R28 million

A fluid floor plan perfectly designed with high ceilings & floor to ceiling glazing to give a light, airy ambiance while showcasing the unparalleled mountain views. Relax on the patio surrounded by the breathtaking indigenous landscaped garden, pool & private river. State of the art imported lighting system. Contact: Terri Steyn 082 777 0748, Ursula Heppner 083 457 5288

Fernbrook Estate, Craighavon

Asking R4.2 million Broadacres, Sandton

Stunning home with a beautiful flow. 3 Receptions, large modern kitchen with courtyard, office with separate entrance. Entertainment area with braai, sparkling pool and terraced garden. 3 Spacious bedrooms with private balconies, 2 full bathrooms, main en suite with outside terrace. Staff acc.

Contact: Cecily 082 901 3244, Austen 072 646 2229 Web ref: 1550835

www.sothebysrealty.co.za

Asking R5.799 million

Come home to this luxurious Balinese inspired masterpiece. Your new residence comprises 4 generous bedrooms, all en-suite, 2 lounges, dining room, study, gourmet kitchen, enclosed entertainer’s patio, built-in bar, landscaped garden, infinity pool, staff accommodation. Garaging for 3 cars.

Contact: Samantha 071 637 3890, Tasmyn 083 603 4712 Web ref: 1447777

LIFESTYLE

Friday February 5 2016

FOOD

Restaurant reimagined The dinner-only Greenhouse restaurant in Constantia recently refreshed their interior space and introduced a summer tasting menu. Diners are lining up for a modern, interactive eating experience that is peppered with dining drama WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED

PROPERTY 101 The Cellars-Hohenort is family-owned, one of three luxury hotels forming The Collection by Liz McGrath.

The late Liz McGrath opened The Plettenberg in 1988. In 1994 she saw a newspaper advert and purchased a nine-roomed guesthouse in Constantia.

A year later The Hohenort manor house next door went on the market. After also purchasing the manor house, McGrath created the Cellars-Hohenort hotel as one property of two historic buildings.

The buildings both date to 1690. The Marine Hotel in Hermanus was her third hotel purchase.

McGrath loved restoring old buildings, décor and gardening. The CellarsHohenort property stretches over 3.6ha in the Constantia Valley and some of its indigenous flora slopes up the side of Table Mountain. The gardens include magnificent trees dating back hundreds of years, orchards, herb and vegetable sections and a fern walk. The garden has 950 table grape vines and more than 2,500 roses.

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he Greenhouse restaurant may sit inside a piece of history in Constantia’s original Hohenort building, but as a total eating experience it tells a modern South African story. Hot Cocoa Interiors & Design recently gave the space a “clean and sophisticated” revamp. The stiff white cloths are gone, replaced by fresh table energy and plates from ceramicist Mervyn Gers.

As a diner you still connect with nature on a summer evening at an elegant table overlooking shrubs and trees viewed through the glass-walland-ceilinged “greenhouse” front section. The biggest changes are in the uncluttered furniture and décor: dark, naked tables in charcoalstained ash alongside chairs in blond ash wood or oystercoloured leather. Charcoal stucco accent walls contrast pale cork-lined floors.

Unsurprisingly the art pieces were drawn from plants, fruit and nature: the photographic work of Marc Stanes, a still life of figs by Basil Friedlander, plus Judy Bumstead’s striking canvasses

of plants on a Melkbos dune.

Greenhouse ranked fourth in SA in the 2015 Eat Out awards. The food has always been skilled and its service slick, but waitstaff now wear silver-trimmed black shirts to lighten the mood.

Dining involves multiple courses and an element of visual entertainment. Ponzu sauce “crumbs” might be frozen in puffs of liquid nitrogen as they’re dished.

Or you could be served an unfamiliar tangle of seaweeds with sea plants and wonder what you’re meant to eat or leave. Take the plunge: multiple seaweeds and raw fish elements co-exist cleverly in novel forms.

Sometimes the drama is in the detailed recreation of one ingredient in sweet and savoury forms. “Four degrees of cheese” takes one Winelands cheese and creates a soufflé, shaving, panna cotta and cheese ice-cream.

The Greenhouse delivers highly crafted food. Dishes for admiring as much as for tasting. They want you to have fun while you’re doing that.

“Take the plunge: multiple cooked seaweeds and raw fish elements co-exist cleverly in novel forms”

LIFESTYLE Friday February 5 2016

EIGHT QUESTIONS TO THE COLLECTION BY LIZ MCGRATH AND GREENHOUSE EXECUTIVE CHEF PETER TEMPELHOFF 1. What is the reimagined Greenhouse all about? We wanted to modernise the whole experience and lose a little formality. The stiff tablecloths and black-suited waiters ... bring it in touch with the food and with what people could relate to. We chose charcoalgrey tables so the food and the people would form the colour in the room.

2. What does the Greenhouse offer at dinner? Five courses on the Summer menu for R650, or a nine-course African Origins tasting menu for R920 (R1,320 including wines).

Dishes change as ingredients change so it may not be the same every time.

3. Your food style in property terms: a housing estate, a classic fixer-upper with unexpected challenges, or pushing boundaries with a modern, eye-catching trendsetter? Probably the third one because my food is edgy and modern, but it has classic roots.

summer buffalo mozzarella dish uses our heirloom tomatoes, with garden plums in the rabbit dish. We use sorrel, borage and lemongrass, and of course white and red table grapes from our vines.

5. My kitchen surprise included yellowtail tartare with octopus eaten off a dried kombu kelp “spoon”. A standout later dish was raw tuna and sea plants with a kombu seaweed and fresh tomato salsa. Is seaweed, “sea spaghetti” in tempura and dune spinach the way forward? I believe so. It’s the unexplored food group from the sea we should be investing time and research on. The health properties, the unfamiliar flavours … there are delicious seaweed flavours out there. We’re cooking kelp and dicing it into a fresh tomato salsa, and we tempura sea spaghetti in batter.

there, whether it’s a play on words on the menu (“four degrees of cheese”) or to bring in surprise in how something is presented. French food is fundamental to my cooking, but we want to explore new flavours and combinations along the way, plus what we see around us.

DESIGN

The brutal truth

Brutalist buildings are often those we love to hate, but they have a place in architectural heritage, and the style is not without appeal

8. From a savoury espuma froth squirted on your plate, to dough using the ancient African teff grain left to prove on your table, is the Greenhouse about dining drama? We’ve always done that in one way or another on our plates. The covered dough is left to prove on a hot slab for two courses, before it’s taken away, baked and served with the “four degrees of cheese” course. Our thinking is that we want people to be involved in the cooking process.

WORDS: CHRIS REID :: PHOTOS: 20EIGHT

6. Is the typical Greenhouse diner local or a tourist? We welcome everybody but in February there are a lot of foreigners. It varies from foodinclined people in their 20s or 30s to retired couples.

4. You’re able to source veggies, fruit and herbs from two hotel produce gardens and some orchards. What might feature on the menu? The

7. “Fun and edgy, combining innovation without losing classical cooking fundamentals.” Explain. We try to make food quirky with a sense of humour here and

“We wanted to modernise the whole experience and lose a little formality” Peter Tempelhoff, Greenhouse executive chef

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rutalism, an architectural trend that flourished in the 1960s and 1970s under designers such as Erno Goldfinger and Le Corbusier, is one of the more polarising styles of the 20th century. With its hallmarks of large expanses of concrete, utilitarian design and bold silhouettes, it was a popular choice for institutional, educational and governmental buildings (especially in Eastern Europe).

Ponte Tower in Joburg is probably the most prominent example of the style in SA, and shows the combination of technical skill and boldness of vision that best characterises brutalism.

Reaction to the trend in its own time, however, was mixed at best. Even though the “brutal” in the name refers to the French term for raw concrete (béton brut) rather than to a particularly

PUBLISHED BY THE CREATIVE GROUP IN ASSOCIATION WITH TMG

The Creative Group CEO: Shaun Minnie shaun.minnie@thecreativegroup.info

Unit G4, Old Castle Brewery, 6 Beach Road, Woodstock, 7925 021 447 7130

EDITORIAL TEAM Editor: Catherine Davis Creative Director: Mark Peddle

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“Tours of brutalist landmarks have become popular attractions in the UK, and dedicated social media accounts have been set up to help people appreciate the style” aggressive attitude, it is often derided by critics for being cold and dehumanising.

With the 1960s and 1970s back in fashion, it is unsurprising that brutalism is also seeing a resurgence of interest. Tours of brutalist landmarks have become popular attractions in the UK, and dedicated social media accounts have been set up to help people appreciate the style (see @thisbrutallife on Instagram).

While going full-on brutalist with interiors is not an option for most homeowners, we are seeing it creep in as inspiration behind product design in all kinds of places.

At design show Maison et Objet in Paris, starkly utilitarian designs were seen in everything from furniture and lighting to tableware.

Locally, the design company 20eight takes the style and translates it into everything from lighting and bird feeders to jewellery.

While brutalism is not for everyone, the style is not without its appeal. Whether it is because homeowners are looking for a more minimal way to create retro-inspired homes, or simply appreciate the solidity and boldness of the style, prepare for a new wave of utilitarian interiors. www.20eight.co.za

BusinessDay PUBLICATION

Art Director: Lucia Viglietti Editorial Consultant: Bridget McNulty Managing Editor: Kim Maxwell

ADVERTISING SALES Michèle Jones Susan Erwee Yvonne Botha

michele.jones@thecreativegroup.info susan.erwee@thecreativegroup.info yvonne.botha@thecreativegroup.info

084 246 8105 083 556 9848 082 563 6685

FINANCE Friday 5 February 2016

Analyse it WORDS: PATRICK CAIRNS

SA’s changing economy

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t the end of last year AngloGold Ashanti fell out of the JSE Top 40. The company is now worth less than half of what it was five years ago, and is no longer one of the 40 biggest players on the local stock exchange.

This event went largely unnoticed, but it really signalled the end of an era.

The JSE was formed in 1887 during the first South African gold rush, effectively as an exchange for gold mining shares. Now, 130 years later, there is not a single gold mining company left in its benchmark index.

As recently as early 2003, there were six gold mining companies in the Top 40.

Over time they have all either fallen out or disappeared altogether, and AngloGold Ashanti was the last one. Now it too has gone, leaving BHP Billiton and Anglo American as the only two mining stocks in that index.

Of course the decline in mining shares does have a lot to do with the huge drop in commodity prices in recent years, but there is also a broader story here.

SA’s economy is changing, and perhaps even more importantly, it has to change.

This country established itself on mining, and in many ways mining is an integral part of our psyche. One only has to look at the contested labour relations and political interest in this sector to appreciate how central it still is to how we view our economy.

This does obscure some of the reality, which is that mining’s role in SA has been declining for some time and, by its contribution to GDP, is now not even one of the top five sectors of the economy.

It is no longer that important and it is increasingly becoming less significant.

That is not to say that we should give up on mining altogether. On the contrary, it can still be a big contributor to our local economy, and probably bigger than it is at the moment.

But it should not distract us from the sectors that have much bigger, and far more sustainable potential — services in areas such as finance and information and communications technology, which are not constrained by physical resources or even national borders.

It means that we have to rethink what we want our country to be — what kind of economy we are trying to build. It also means that

we have to be educating our children in the right way to sustain that economy. That is the future, and we need to work towards it instead of being stuck in our miningdominated past.

“This does obscure some of the reality, which is that mining’s role in SA has been declining for some time and, by its contribution to GDP, is now not even one of the top five sectors of the economy”

ART

Cultural coup: Zimbabwean art comes to Cape Town A local art gallery has brought a highly acclaimed exhibition in the Zimbabwean pavilion from last year’s Venice Biennale direct to South African art lovers WORDS: MELVYN MINNAAR :: PHOTOS: SUPPLIED

GARETH NYANDORO

“Some said that this show spoke simply but vibrantly about art from Africa in the global contemporary context”

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or decades an artists’ haven, the gallery of the Association for Visual Art (AVA) in central Cape Town is making cultural history by hosting three special visiting artists Chikonzero Chazunguza, Masimba Hwati and Gareth Nyandoro. The AVA has scored a coup by bringing over the entire exhibition from the Zimbabwean pavilion, which showed at last year’s 56th Venice Biennale.

Arguably the world’s most important art event, certainly the most established, the biennial exhibition has a 120year history as a marker of art reputations. Titled Pixels of Ubuntu/Unhu — Exploring the Social and Cultural Identities of 21st Century, the show is drawing wide interest from lovers of art and possible investors. It pulled in the visitors in Venice, and has been a year-long, hot talking point internationally.

South Africans, of course, are well aware of the significance of ubuntu. So if the exhibition title sounds a tad academic (well, it’s typical of its kind) the art is excitingly fresh and different. The project offers a first-hand look at the creativity in our often maligned neighbour.

It has attracted attention for its colourful inventiveness and high-energy, contemporary African presence. In Venice, where the works were on view until November 2015 at the Santa Maria della Pieta venue, it struck a particularly popular chord. Critics commented on the vibrancy of the installation.

Some said that this show spoke simply but vibrantly about art from Africa in the global contemporary context.

EXPLORING IDENTITY As the subtitle indicates, the artists interrogate identity and its place in the global sphere. The subject is an ongoing Zimbabwean source of inspiration.

The international art world is often seen to be stuck in a kind of “Western” groove of same-same. The Zimbabweans bring something new and different. Chazunguza, Hwati and Nyandoro are all well known in Zimbabwe.

They are now on the cusp of international fame.

Logistics and finances are tricky in international art.

Smart people had to move quickly to make the show a reality. Pro Helvetia and the Swiss Agency for Development and Cooperation supported a substantial travel budget.

The project brings the artists, as well as curator Raphael Chikukwa of the Zimbabwe National Gallery, to the Mother City. A February 20 question session at the gallery with Chikukwa and the visiting artists is one highlight.

Importantly the arrangement allows the AVA to act as dealer while the art is on show. This opens an investment opportunity for

ART Friday 5 February 2016

GARETH NYANDORO

“Chazunguza, Hwati and Nyandoro are all well known in Zimbabwe.

They are now on the cusp of international fame”

local collectors. The Zeitz MOCAA gallery acquired the entire exhibition of a previous Zimbabwean show at the 2013 Venice Biennale, for instance.

The Pixels of Ubuntu works are for sale at $10,000 apiece.

This is the only show by the three artists after the prestige event in Italy, and coincides with the Cape Town Art Fair later this month. The exhibition opened yesterday and is on view for a month. www.ava.co.za

.CHIKONZERO CHAZUNGUZA

GARETH NYANDORO, .CHIKONZERO CHAZUNGUZA, .MASIMBA HWATI.

.MASIMBA HWATI.

.CHIKONZERO CHAZUNGUZA

FOCUS ON EVERGREEN LIFESTYLE VILLAGE Friday February 5 2016

Evergreen redefines SA’s retirement lifestyle landscape Evergreen Lifestyle boasts a reputation for building and managing exceptional estates in the most beautiful parts of the country WORDS AND PHOTOS: SUPPLIED

GET IN TOUCH Find the Evergreen lifestyle of your choice: 021 702 3200 info@evergreenlifestyle.co.za www.evergreenlifestyle.co.za

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troll through the gates of any Evergreen Lifestyle Village and you will be pleasantly surprised.

Folks are having fun, staff are cheerful, and the vibe is energetic, tranquil and homely. Retirement never felt this good!

After years of investing their energies in building their lives, residents are enjoying the things they never had time for — like themselves. They are also enjoying life’s finer things: great food and company, and an active lifestyle, fully supported so they have plenty of time for relaxation.

Lovely gardens with walkways, benches and ponds provide welcome tranquillity to nourish the soul.

Cobus Bedeker, Evergreen’s development director, testifies to the business’ formula for idyllic village living: “Our stylish homes and apartments offers superb accommodation to suit singles’ and couples’ preferences and pockets.

“Each is positioned to make the most of the views

and designed with residents’ comfort and convenience in mind.”

Bathrooms are designed to accommodate wheelchairs and are fitted — where required — with fixtures to assist people with disabilities.

Of course, all the modern and material comforts are provided.

In all villages, state-ofthe-art community lifestyle centres provide a brilliant space for residents to relax and join the fun of the many communal events and get-togethers that happen throughout the year. The lifestyle centres typically offer a restaurant, TV lounge, bar, gym and indoor heated pool along with a laundry, salon and healthcare facilities.

A PARTNERSHIP FOR LIFE Derek Drew, managing director for Evergreen, says: “Evergreen’s promise of carefree retirement living — where residents can relax and take advantage of the lifestyle and amenities on offer — is built on a strategy called Partnership for Life.

“The first of the three key pillars to this partnership is the purchase model.

Evergreen selected the Life Right model — preferred internationally — because it secures the guarantees necessary for a relaxed and stress-free retirement.”

Among the many benefits of downscaling, freedom from the stress of managing and maintaining one’s own home (or village) ranks high. While

Life Rights confer the right of occupation for the remainder of the residents’ lives (no matter their circumstances), Evergreen remains the owner of the property and so carries the responsibility of village management, maintenance, services and security in perpetuity. This allows residents to get on with doing the things they most enjoy without the burden of village and home maintenance and management. In this sense, Life Rights could be viewed as a housing product, an insurance policy and a good night’s sleep rolled into one.

FINANCIAL WORRY FREEDOM Evergreen’s second partnership promise is freedom from financial worries. Says sales director, Philip Wilson: “This begins with a sales agreement that is flexible and tailored to a resident’s particular financial circumstances. Transparency in terms of operating costs is built into Life Right legislation. The law requires the Life Right developer to provide a statement of the basis upon which any levy payable by the purchaser is to be calculated, and an estimate of the amount of the levy, for a period of two years in advance. In other words, retirees enjoy the ability to plan around predictable costs.”

Wilson says that Evergreen homes and apartments may also be purchased by the children of retirees, and so provide them opportunity to

FOCUS ON EVERGREEN LIFESTYLE VILLAGE Friday February 5 2016

ABOUT THE DEVELOPER

Evergreen Lifestyles is SA’s first national retirement lifestyle brand and a subsidiary of the Amdec Group. Amdec’s portfolio includes the iconic Melrose Arch in Gauteng, Port Elizabeth’s new suburb of Westbrook, Cape Town’s Yacht Club next to the V&A Waterfront, Pearl Valley, Val de Vie and numerous other developments.

Evergreen Lifestyles operates as an independent company in the group framework. Derek Drew, MD, explains: “Our vision is achieved by drawing on the expertise of dedicated divisions within the Amdec Group. Amdec Property Development is responsible for the conceptualisation, initiation, design and construction of the villages.

Sales and marketing deliver the necessary revenue to facilitate development.

The operations division, along with Evergreen’s village management teams, sees to the daily management, maintenance and security of the villages.

The infrastructure is geared towards delivering our promise: ‘Retirement made perfect’”.

the relaxed lifestyle and many leisure facilities of the Sonnenhof Manor House, which retains the charm of yesteryear while offering all the amenities and services of your typical Evergreen lifestyle centre. A heated pool offers swimming all year round. n EVERGREEN AT LAKE MICHELLE, AWARD-WINNING ECO-ESTATE LIFESTYLE Perfectly positioned in the warm heart of the Cape’s Noordhoek Valley, Lake Michelle is an established residential estate where families and individuals of all ages enjoy life around a 22ha lake with its collage of islands and 7ha of reed beds and ponds, crisscrossed by boardwalks and walkways.

Wonderful Evergreen homes have been established on this award-winning eco-estate, which boasts a magnificent wetland home to over 120 species of birdlife, fish, otters and the rare leopard toad. Secluded and idyllic, life around the lakes flows at a perfect pace. This country atmosphere provides the backdrop for an upmarket lifestyle, close to Long Beach and within walking distance of Noordhoek Farm Village.

have their parents well taken care of either nearby, or wherever they choose to live.

ACTIVE AGEING AND MANAGED HEALTH The third pillar of Evergreen’s partnership promise is the promotion of active ageing and the management of health. Evergreen’s integrated approach to active ageing and home-based healthcare caters for the varied needs of village residents. In select villages Evergreen is presently establishing fully equipped specialist frail care units to provide professional treatment, 24-hour nursing and recuperative care.

Evergreen takes great pride in the relationships they forge with residents and their families, and with the healthcare facilities and comprehensive range of brilliantly managed services provided. Residents can relax in the knowledge that help is always at hand — should they need it — for normal household chores or even an emergency via nurse call alarms in every unit that are monitored 24/7.

“In response to rising demand, a wonderful selection of suitably priced, spacious, petfriendly homes are selling fast”

n EVERGREEN DIEP RIVER, COMMUNITY CONVENIENCE IN APARTMENT LIVING The brand-new Evergreen LOCK-UP-AND-GO CONVENIENCE Safety and peace of mind are key priorities at Evergreen.

Villages have electric perimeter walls, electric fencing and CCTV cameras.

Access is strictly controlled and with around-the-clock patrols and emergency assistance, life can be lived without worry.

This provides significant peace of mind and vital reassurance for residents and their families. n EVERGREEN MUIZENBERG, TIME MEASURED BY TIDES Within walking distance of an endless beach and a coastline dotted with charming villages, Evergreen Muizenberg is a highly sought-after retirement location and an ideal area for nature lovers.

With phase one and two’s homes sold out, the mid-

2015 introduction of stylish apartments has been a great success.

These apartments are positioned to make the most of the magnificent views and are designed with residents’ enjoyment and affordability in mind. The newly built 2,000m2 Evergreen Lifestyle Centre remains the gathering place and heart of community activities and enjoyment. n EVERGREEN BROADACRES, TOWN-AND-COUNTRY LIVING With its stunning 2ha green belt, beautiful gardens and shady walkways, Evergreen Broadacres is located just 3km north of Fourways and close to William Nicol Drive.

The secluded village provides retirement living at its best in a relaxed town-and-country atmosphere. The area is ideal

for outdoor pursuits and offers vibrant local shopping, with Life Fourways Hospital and Lanseria International Airport conveniently nearby. The latest phase of the development was recently launched. In response to rising demand, a wonderful selection of suitably priced, spacious, pet-friendly homes are selling fast. n EVERGREEN BERGVLIET, SUN-DAPPLED DAYS UNDER ANCIENT OAKS Beneath the oaks of the century-old Sonnenhof Estate in the heart of the Constantia Valley, close to Constantia Village, Evergreen Bergvliet is wonderfully rural in a soughtafter urban setting. Homes are set in landscaped gardens and positioned to make the most of the views of surrounding mountains. Residents enjoy

retirement complex in Diep River, Cape Town, offers all the qualities that residents have come to expect from SA’s leading retirement lifestyle.

Perfectly positioned on Alnwick Road in the heart of Diep River, and close to local shopping, amenities and the Mediclinic Constantiaberg, Evergreen Diep River offers a wonderful community element in a sought-after urban setting.

All beautiful luxury one- and two-bedroom apartments (many with spacious balconies) are sold out. Residents enjoy fabulous views. n EVERGREEN SOMERSET WEST, RETIREMENT MADE PERFECT AT THE RIVERSIDE Given its rich history, warm summers and magnificent mountains, Somerset West is a highly sought-after retirement location. Evergreen Lifestyles is currently establishing its sixth village on the banks of the beautiful Lourens River. A wide range of architect-designed one- and two-bedroom apartments offer stylish accommodation with fantastic mountain and river views. The Evergreen community lifestyle centre will provide all the services and resort-style facilities that make life evergreen.

More Evergreen villages are planned for Port Elizabeth, Paarl Valley, Noordhoek and in KwaZulu-Natal.

“These apartments are positioned to make the most of the magnificent views and are designed with residents’ enjoyment and affordability in mind”

COVER Friday 5 February 2016

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Welcome SA’s super estates

MALL OF AFRICA

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very few years, to much fanfare, Umhlanga — one of the biggest growth nodes in the country — alters its skyline in dramatic fashion. Undoubtedly 2015 was that year. A R3,1bn collaboration between Vivian Reddy of Edison Power Company and Rob Alexander of Ducatus Property Group, Oceans Umhlanga is to date the single largest private-sector development in KwaZuluNatal.

The mixed-used development covers 90,000m2 of prime Umhlanga Village land. It has two residential towers of 460 apartments and a retail

tower named Ocean Mall for which Reddy has confirmed “big-hitter” super-brands such as Burberry, Versace, Armani and Paul Smith. The apartments have entry-level price tags of about R1,6m, soaring 28 storeys up to R60m for a double penthouse.

Marketing and sales fall under the auspices of DevMark Global, headed by MD Piaras Alvarez. DevMark Global’s high-profile local success stories include the record sellout of The Pearls and Zimbali Suites.

Alvarez has around 25 years of global property experience, particularly in Dubai, the Middle East and Asia, so brings an entirely different operating model to

his projects. “We learned how to market and sell in a way that’s more cost-effective than has typically been done in SA. We cover a far wider gamut of functions than an estate agent, and we share our mandates with all other estate agencies.”

For Oceans Umhlanga, DevMark will hold their sales event for committed buyers on March 26. Alvarez says the prices are not far off those of Cape Town. “Starting prices will be about R40,000 per square metre — a 40m2 studio with 10m2 terrace — up to R55,000 at the top end.”

Just five minutes from King Shaka International airport, developer Charles Thompson’s OceanDune is the first residential development

V&A WATERFRONT’S AMSTERDAM HOUSE.

off the drawing board in the Tongaat Hulett mixed-use Sibaya precinct, which will ultimately comprise five development nodes spread across 750ha. Weeks before the official launch, Keller Williams Realty described in excess of 1,200 interested parties viewing the site, and more than 3,000 registrations from interested buyers.

Thompson’s portfolio includes Zimbali Suites, Ocean Club Zimbali and The Square Boutique Hotel.

PRETORIA Pretoria has Menlyn Maine, a R32bn, 32ha mixed-use development. It has apartments, medical facilities, entertainment and parklands.

All buildings are set to achieve a four-star green-star rating through the Green Building Council South Africa. In addition, Menlyn Maine is one of only 16 cities participating in the Clinton Foundation’s Climate Positive Development Programme, which works together with governments and businesses across the globe to improve urban energy efficiency.

All residents will be able to access Pretoria’s new bus rapid transit (BRT) system, the Gautrain bus system and a new taxi station. A new

bridge link will reportedly be built, feeding off Atterbury Road to provide direct access to Menlyn Maine from the north. With the completion of various other road changes, it should alleviate potential traffic issues.

MIDRAND On a 2,200ha tract of land between Woodmead, Kyalami and Midrand is the Waterfall development, also destined to become a new green city. This estate has shown unprecedented return on investment, and Geoffrey Crow of Century Property Development believes some values will be driven up further when the retail nodes are completed, such as the Mall of Africa, being built at R40,000 per square metre, and due to open in April 2016.

Crow says that over the past four years some properties have doubled and even tripled in value. They envisage an increase of as much as 50% once they sell out the final properties, where demand will exceed availability.

“Waterfall Equestrian Estate stands are up from R3m land price to over R14m on a recent sale,” he says. “At Waterfall Valley and Waterfall Hills Mature Lifestyle Estate house prices have risen from

“Mark Williams, a realtor at Steyn City Properties, reveals that the highest price mid-year for a rental property was valued at R120m and rented out for R130,000 per month; another has been leased at R120,000 per month”

COVER Friday 5 February 2016

VAL DE VIE.

an initial R2,2m to more than R4,5m resales in three years.” And when it comes to rentals, the demand is huge, with clients achieving monthly rentals of between R27,000 and R150,000 on the equestrian estate.

MODDERFONTEIN Hong Kong company Shanghai Zendai is behind the R84bn smart city in Modderfontein, eastern Johannesburg. Development of the 1,600ha property began early in 2015. According to chief operating officer Du Wenhui, it’s envisaged as a 15- to 20-year project that includes 30,000 to 50,000 housing units of different types and sizes, an education centre, a medical centre and a sports stadium, plus the 275ha Modderfontein Reserve. This private park, the second-

“Pretoria has Menlyn Maine, a R32bn, 32ha mixed-use development”

largest in Gauteng, includes portions of the Modderfontein Spruit, several dams, grassland and hills.

Zendai Development SA is focused on growing a portfolio in Modderfontein.

The landholding includes a number of commercial and industrial buildings to let, and Zendai intends to develop a Heritage Village, which will include various cultural and recreational offerings around protected and restored buildings.

The land will be released in three ways: independent development, joint ventures or land sales. The first development phase will take place in the LongLake and Founders Hill areas — the first phase of LongLake will cater for office, commercial, residential and light-industrial developments, while the Founders Hill precinct will cater for the development of educational and training facilities.

Plans are under way to allow for the release and development of these areas, and Zendai Development SA is currently seeking strategic partnerships, investors and joint-venture partners. It’s estimated that on completion

the development will create 200,000 jobs, cater for 100,000 residents and allow for the development of about 13-million square metres.

FOURWAYS The approximately 810ha of land that comprises the lifestyle resort of Steyn City in the Fourways area has seen an investment of nearly R1.31bn. At conception, it was considered the largest development of its kind ever undertaken in Africa, destined to consist of some 10,000 homes, which have been selling rapidly since phase one went to market in March 2015. Most of the residential properties in that phase have been sold, with investors coming from as far afield as Nigeria, Ghana, Switzerland, Sweden and Denmark. The accent on community living has been a drawcard for multinational corporates seeking new homes for their expat employees.

Mark Williams, a realtor at Steyn City Properties, reveals that the highest price mid-year for a rental property was valued at R120m and rented out for R130,000 per month; another has been leased at R120,000 per month.

Says Dr Andrew Golding, CEO of Pam Golding Property group: “With R800m worth of sales, or the equivalent of 150 units, clearly demonstrating a huge vote of confidence in this type of product, Steyn City has in this short time outperformed other luxury estates brought to market over the past decade.”

Investors are paying R3,5m for a 1,000m2 stand, and homes are priced from an entry-level R4,2m up to R19m built home ready for occupation. Golding anticipates that those building now will more than triple the record price for the area in years to come.

PAARL In the Western Cape’s Paarl Valley, Val de Vie’s collaboration with the Mantis Collection to acquire Pearl Valley Golf & Country Estate is the culmination of six years of effort, according to marketing director Ryk Neethling. “We had this dream, and when we first spoke about it, it was so far off, so impossible. It’s been a very long process — a good lesson in perseverance — and it’s very satisfying to have been able to secure it.”

Neethling believes Val de Vie was a natural fit. “We have a great relationship with the Drakenstein municipality, and a major plus is that we have the extra bulk capacity on water, sewage and electricity.

“We easily had capacity to develop Pearl Valley’s phase two, and once we had the undeveloped land, we thought, let’s combine it, include the golf, and offer these unbelievable amenities and facilities not found elsewhere,” he says.

Currently Val de Vie and Pearl Valley are about 35 minutes drive from Cape Town and the international airport, but with Val de Vie’s plans to construct a bridge spanning the Berg River

to connect with the R45 — completion date 2017 — Stellenbosch will be only 15 minutes’ away.

Neethling sees this narrowing of the distance as a great opportunity for the estate. “The prices in Stellenbosch are still about 30% higher than at Val de Vie,” he says, “[but] our prices have shown incredible growth on land of about 50% over the past 18 months. In 2013 we were selling land at about R1,200m2. We recently sold a piece of land, not even northfacing, for R3,200m2. In some cases the value has tripled.”

THE V&A WATERFRONT Mixed-use development and redevelopment in and around the V&A Waterfront is going full steam. Development manager Amdec Property Development has committed R1,2bn to its mixed-use The Yacht Club, due for completion in mid-2017.

Located within the Roggebaai Canal Tourism Precinct, connecting Cape Town’s financial hub, the CTICC and the V&A Waterfront, The Yacht Club will be the biggest development of its kind in the precinct, joining the existing Harbour Bridge Hotel & Suites and Canal Quays apartments. The location and transport systems make The Yacht Club superbly accessible by car, bus, shuttle, taxi and water-taxi.

The Yacht Club will feature one-bedroom, two-bedroom and luxury corner apartments ranging from 54m2 to 95m2, with a starting price of R2,4m. Nicholas Stopforth, joint MD of Amdec Property Development, confirmed the development has the potential to include a hotel and associated serviced apartments.

The V&A’s final phase of the Silo district is on track for an early 2017 sign-off, at an investment of R1,5bn.

Together with No 1 and No 2 Silo developments, this will bring the total investment by V&A Waterfront shareholders, Growthpoint and the Government Employee Pension Fund, managed by the Public Investment Corporation, to more than R2,5bn.

The four new Silo developments (No 3, 4, 5 and 6) will introduce more than 35,000m2 of mixed-use sustainable developments, including new corporate offices, a residential development, a Virgin Active Classic Health Club and a 220key mid-range internationally branded hotel of 8,000m2, plus more than 1,050 additional parking bays.

Investment in South African infrastructure has played a decisive role in altering our property landscape. It’s been the catalyst for unprecedented mixed-use super-estate developments that offer security, greenery and often an easing of traffic (many include new bridge or road links). These super estates are responding to the new lifestyle we want, as much as they are changing the way we live.

“A R3,1bn collaboration between Vivian Reddy of Edison Power Company and Rob Alexander of Ducatus Property Group, Oceans Umhlanga is to date the single largest private-sector development in KwaZulu-Natal” OCEANS UMHLANGA.

FOCUS ON ZENDAI February 5, 2016

Johannesburg’s hidden gem WORDS AND IMAGES: SUPPLIED

The Centenary luxury residence is an investment in luxury, and phase 1 is already over 50% sold

T

he Centenary, Zendai Development SA’s flagship residential development in Modderfontein New City, lends itself to the exclusive life of attainable opulence in every way. It is time to uncover this hidden gem and explore the elements that create the ultimate lifestyle.

Inspired by the natural environment in which it is set, The Centenary is your opportunity to live in one of the country’s historic neighbourhoods surrounded by iconic landmarks and heritage buildings.

A luxury residential development of character and contemporary

apartments, The Centenary is designed to exacting standards; no detail has been overlooked in ensuring it reflects your lifestyle.

The Centenary intelligently mixes the metro’s natural setting with privacy and luxury to reinvent your expectations of homes.

The layout of each residential unit places an emphasis on functionality.

The sweeping spaces inside the home encourage abundant natural light, providing a sense of spaciousness. The main living area is open plan, allowing flexible use of space, while the en-suite

bedrooms are aesthetically designed and well appointed.

The apartments feature large windows fitted with acoustic glass to keep out unwanted noise.

Well positioned with a north-facing aspect, apartment features include an imported Miele gas oven, hob and extractor, luxury sanitary ware, energy efficient downlighters and heat-pump geysers, a selection of designer kitchens to choose from, acoustic windows (to block noise), high-speed fibre optic and Wi-Fi points, basement parking and back-up generators. On site you will find a clubhouse, pool, kids’

play parks and an outdoor gym.

Since launching in September 2015, the development has received an overwhelming public response, with over 50% of the units already sold.

Johannesburg’s new, enviable address is an invitation to secure a superior lifestyle and enjoy the benefits of an investment complete with all the extras. The sophisticated apartments speak volumes of the stylish, contemporary lifestyle it seeks to provide.

Investments need protection so it is only natural for The Centenary to boast a range of optimum

“The Centenary is designed to exacting standards; no detail has been overlooked in ensuring it reflects your lifestyle”

FOCUS ON ZENDAI February 5, 2016

security features. The state-of-the-art, six-layered security system includes 24/7 biometric access control, CCTV and basement parking with elevator access to each floor, offering complete peace of mind.

An oasis in the heart of the bustling metro, the prime positioning of The Centenary brings you the best of both worlds. The planned Modderfontein Gautrain Station and OR Tambo International Airport are only minutes away, for convenient and efficient dayto-day travel.

You can also take a break away from the city life and return home to

tranquil environs that lie just beyond your doorstep — Modderfontein Reserve, complete with wildlife, walking and cycling trails, fishing dams, lush flora as well as the Val Bonne Country Estate.

The Centenary and surrounds offers a myriad diverse recreation for all. Only a short distance away, an abundance of fine culinary restaurants and outdoor activities are easily accessible, these include a golf course and sports complex with facilities for soccer, tennis, squash and bowls.

The Centenary’s location will appeal to people looking

for cosmopolitan living that is close to a range of schools.

Current developments in the area include the expansion of existing schools, construction of a private hospital as well as additional access roads and infrastructure.

Future development plans incorporate the expansion of the education precinct which will accommodate all levels of schooling (from preprimary to tertiary).

Luxury one-bedroom apartments sell from R1.45m, two-bedroom apartments sell from R2.1m and three-bedroom apartments from R2.95m (prices include VAT).

GET IN TOUCH

For more information, call 061 408 3298, e-mail info@thecentenary.joburg, or visit www.thecentenary.joburg

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INVESTIGATION Friday 5 February 2016

Playing the no-guarantee game Is property always a good investment? Sometimes it is not WORDS: PATRICK CAIRNS :: PHOTOS: SUPPLIED

“The only way that you’ll get rich through property is if it’s your business. There is no way you’ll get rich through buying a passive investment” Abraham van der Westhuizen, advisory partner at Citadel

B

etween 1987 and 2008 South African house prices enjoyed a spectacular surge. For three decades property values increased year after year, with increases often hitting double digits. This growth peaked in 2004, a year in which Absa statistics showed a 32,24% jump in the average house price. This was followed by a further 22,71% increase in 2005.

These kinds of gains encouraged many South Africans to view property as

an unmatched investment opportunity. The chance to earn such returns on capital, sometimes on top of rental income, seemed too good to pass up.

However, not everyone who bought property ended up boosting their wealth.

For a start, the growth in house prices has slowed since 2008, and in some areas property values have even fallen. Secondly, many people entered the market without fully understanding that not every property

is automatically a good investment.

When price growth appears unchecked, it is easy to make the mistake of thinking that you cannot go wrong with property.

While buying real estate does sometimes make good financial sense, at other times it really does not.

PRIMARY RESIDENCE INVESTMENT For most people, the first property they buy is the one they are going to live in. And

while it is true that there are benefits to renting, there are solid financial reasons for owning your own home. Most important is the stability it affords.

“Property as a primary home, I think, is arguably one of the best investments you can make,” says Samuel Seeff, chairman of Seeff Properties. “You need to own your primary home. It’s the foundation of your whole adult life.”

Says Hardi Swart, marketing director at Autus

Private Clients: “Your primary residence isn’t just a financial investment. It’s an emotional investment as well.” Over and above this there is a good reason why many advisers encourage their clients to buy rather than rent — it forces most people to put money towards something that ultimately becomes an asset. “Many people wouldn’t save the same amount of money each month as they would be willing to pay off on their bond,” says Swart, “so from that perspective alone, it forces people to save.”

SECOND-HOME SENSE The idea of a holiday home at the beach or in the mountains is an appealing one for many. There is no question that there is something special about having a place of your own

INVESTIGATION Friday 5 February 2016

that can be used by family and friends rent-free. It could also be an option to retire to one day.

But does this count as making an investment? Over the years the value of the property may well increase, but the reality is that buying a second home is rarely a sound financial choice.

“People don’t consider the cost involved,” says Abraham van der Westhuizen, advisory partner at Citadel. “It is not as simple as saying ‘I bought the house for so much and it is now worth so much more’ because there are financing costs, maintenance costs, rates and taxes paid over the years, and the opportunity cost of the money lying there. The reality is that you have to weigh up the capital gain against what you might have earned if you’d put that money into another asset.”

Buying a second home is therefore rarely a great investment. In some cases it is a demonstrably poor one.

Swart offers this example.

“There’s a big development on the KwaZulu-Natal South Coast where a lot of people bought property back in 2008 for between R2m and R3m,” he says. “Seven years later those properties are now worth the same or in some cases less than what they were purchased for. So

“But does this count as making an investment?

Over the years the value of the property may well increase, but the reality is that buying a second home is rarely a sound financial choice”

taking inflation into account, the owners have actually seen capital depreciation and they have still had to pay all the expenses. So that’s been a terrible investment.”

A holiday home should be seen as a luxury and measured by what it adds to your quality of life, not what it adds to your personal balance sheet. Ultimately there are much better ways to deploy your capital.

INVESTMENT PROPERTY Where property really comes into its own as an investment is when it is bought to be rented out, because then you are buying it not only for the capital growth, but also for the income it can generate.

The big positive with property in this regard is that you are able to use credit to buy it.

Says Seeff: “What’s significant about property as an asset class is that you can obtain mortgage finance.

You don’t have to purchase the whole asset up front, but you can immediately start earning income off it and see capital growth on the total value, not just on your initial investment.”

While this may make it sound like an easy win, that is far from the case. “I don’t think people realise how much work and effort it takes

to really manage a property properly,” Seeff says.

“Everyone thinks you buy the property, tenant it and walk away, but it’s not that easy.

“You have to spend the requisite time and effort to understand the market.

If you do it properly and professionally, it’s a question of choosing carefully in areas that you think are going to give you continued demand from tenants and also price appreciation. That way you get the return on both a monthly basis and the capital growth down the line.”

Generally it is more lucrative to invest in smaller properties. This is because demand is more of a certainty at the lower end of the market and returns are higher. “The lower the price, the higher the relative return on the investment,” says CEO of Vineyard Estates, Anton du Plessis. “I wouldn’t buy a R10m house in the hope of getting a reasonable rental return on it, because if you’re looking for someone paying R50,000 a month, you could wait for months between tenants.”

However Du Plessis points out that while the return on 10 properties worth R1m would be higher than on one R10m property, the administrative burden would be much higher. “In addition,

simply due to the number of tenants you’re exposed to, you may be more likely to have a delinquent if you had 10 properties than if you had one,” he adds. “Then again, if you have only one tenant paying R50,000 a month and that one tenant becomes a problem, the result is fairly disastrous.”

While anyone doing the necessary homework may be able to make a successful investment, real estate is still not an easy way to get rich. “The only way to get rich is by having a successful business and applying your time and energy in a specialised field,” says Van der Westhuizen. “And the only way that you’ll get rich through property is if it’s your business. There is no way you’ll get rich through buying a passive investment.”

Successful property investors are those who are willing to put in this effort.

Many also concentrate on a specific area, such as student accommodation.

The key is that anyone who wants to do it, should take the time and effort to understand how to maximise their returns. Anything else is simply buying and hoping for the best. “And hope isn’t a strategy,” says Seeff, “because there are no guarantees.”

“Your primary residence isn’t just a financial investment. It’s an emotional investment as well” Hardi Swart, marketing director at Autus Private Clients

INVESTIGATION Friday 5 February 2016

INVESTING NEED TO KNOW

When investing in property you have to understand it as an asset class. Citadel advisory partner Abraham van der Westhuizen says there are five key characteristics to bear in mind.

1. Property values go up and down South Africans saw an unparalleled bull market in the property sector for a long time leading up to 2008, so many of us were brought up with the idea that property is something that just keeps increasing and can’t diminish in value.

But globally we’ve seen that property prices can decrease.

If interest rates aren’t in your favour, your asset can end up being worth less than what you owe on the bond.

2. Consider liquidity Property isn’t something that you just buy and sell easily.

If you have markets where property demand comes under pressure and you might want to exit your investment, it’s the hardest time to sell and the time when you get the lowest value.

3. The taxman cometh The rentals you earn from property are added to your

income and taxed at the marginal rate, whereas if you hold a basket of shares, your dividends are only taxed at 15%.

4. Don’t neglect expenses Many people forget about the costs incurred by a property. You have to think of maintenance, property rates and taxes, legal fees if you have problems with tenants, and the opportunity cost when you’re unable to find new tenants.

5. You might miss out on compounding People don’t necessarily take their rental income and invest it back into property. But if by comparison you had an investment in shares where you were earning dividends each year instead, you would generally keep reinvesting those dividends to acquire more shares and get more dividends the next year. Over the long term, this compounding is one of the biggest drivers of wealth creation.

HOLLARD ADVERTORIAL Friday 5 February 2016

ADVERTORIAL

Mind the gap when selling and buying The risk exposures for buyers and sellers in a property transaction are widely misunderstood.

Here is what you need to know WORDS AND PHOTOS: SUPPLIED

Property purchases are among the single largest financial commitments private individuals will undertake so the need for meaningful protection against such risks is essential.

The core of the issue lies in defects. Not only is there a debate about the difference between latent and patent defects, but the results of faulty or defective design, structure or workmanship sometimes only become evident over time.

The primary misconceptions about defects are: 1 “My bond insurance will cover everything.” Wrong.

Traditional homeowners’ insurance only covers damage caused by sudden and unforeseen events such as fire, lightning, storm, wind, water, impact and the like. For example, water damage to carpets resulting from a poorly designed roof would be covered, but not the cost of repairing the roof.

2 “The bank has inspected the home so it must be fine.”

Not true. The obligations of the bank valuators are limited to establishing if there is fair value in the home for their loan exposure.

3 “If the house has been sold voetstoots then there is no recourse to the seller.” Wrong again. Voetstoots merely says: “These are the problems but I am not going to fix them — take it as it is.” If you sell voetstoots, you are still required to disclose any defects you should have reasonably known about.

Many sellers have felt the pressure of the defects disclosure list and hoped that they have

included everything. In some cases they know there is a problem but not the extent of it.

For buyers the time comes when their house-hunting excitement is replaced by concern that there is something wrong and they can’t afford to fix it.

While sellers may take some comfort in the fact that accessing the legal route is expensive, there are more and more successful court cases going through in favour of buyers where sellers have hidden behind “voetstoots”.

Most buyers are looking for

a home to fall in love with, but buying and selling a home is like any commercial transaction.

Buyers want a good deal that meets their needs. Sellers want their homes to stand out in the market, and get the best price.

Selling and buying a home with a warranty makes sense for both parties. Sellers get to differentiate their home and pass their disclosure obligations on to the insurer. Buyers get the peace of mind that if something goes wrong that they did not know about, they are covered.

To find out more or get a quote, go to www.hollard.co.za, or e-mail hollardhomewarranty@hollard.co.za. Or call 0861 HOME 4U (0861 4663 48)

INTERNATIONAL Friday 5 February 2016

Global residency unpacked WORDS: DAVID A STEYNBERG :: PHOTOS: ISTOCK, PROPERTY INVESTOR

Looking to diversify your investment portfolio? In these nine countries an international property acquisition may qualify you for the pick of residency permits

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CITIZENSHIP V RESIDENCY Residency is the legal right to live, work, travel and study in a country, subject to certain conditions. Typically you would not give up citizenship in your own country.

Citizenship, on the other hand, means the person is a legal citizen of another country with, for example, the right to vote.

Residency can be revoked, whereas citizenship typically would not be.

Some countries allow for dual citizenship but many do not.

ith a growing number of countries vying to attract international property investors, the time has never been better to do a spot of passport shopping. But, warns James Bowling, international CEO and founder of Monarch & Co, maintaining an investment in a foreign country is not the only requirement for residency or citizenship.

“Investors can lose their residence or citizenship status if they don’t meet other requirements, such as a minimum stay,” says Bowling.

He notes, for example, that the UK requires investors to make the UK their primary residence by spending at least 50% of their time there, while Malta residence holders can not spend more than 183 days a year in another jurisdiction.

“Portugal requires you to visit for seven days in your first year, and 14 days every two years [thereafter] in your path to gaining citizenship.”

When it comes to the “perks” such as free education and healthcare, the rules are different for citizens and residents. Residency holders are usually entitled to receive free state education only in the country of residency, and should always be covered by

comprehensive international health insurance, as they don’t receive free medical treatment.

“Citizens have full access to free state education and healthcare facilities in their country of citizenship, should it be available in that country,” says Bowling. “A citizen from an EU country registered in the national healthcare system can attend any educational or healthcare facility in any other EU country.”

In Portugal, however, you need to be a citizen contributing to social security as a taxpayer living and working in Portugal to qualify for free healthcare and education, according to Chris Immelman, MD of Pam Golding Properties International and Projects division. He adds that residency does not provide holders with free healthcare or education, although they have access to it.

A useful caveat to keep in mind is that some countries, such as China, do not acknowledge dual citizenship.

Investors would therefore have to sacrifice their current citizenship in return for the new one.

“SA recognises dual citizenship, so our investors don’t have to worry,” says Bowling.

St Kitts and Nevis citizenship MINIMUM AMOUNT I NEED TO INVEST? You need to purchase a designated property for a minimum value of $400,000.

However, there is a range of significant additional fees payable for background checks and application processing. There is no requirement to reside in this Caribbean twin-island paradise and business haven.

Citizenship via investment takes three months.

EDUCATION? Education in St Kitts and Nevis is compulsory between the ages of five and 16. In St Kitts there is a range of primary and secondary schools, including Estridge Primary School, Saint Anne Sandy Point Primary School and Beach Allen Primary School, as well as Cayon High School, Washington Archibald High School and Verchilds High School.

In Nevis, the primary schools available are Nevis Academy, Charlestown Primary School and Ivor Walters Primary School, while Charlestown Secondary School, Gingerland Secondary School and the private Nevis

International Secondary School make up the high school complement.

Higher education is available at Clarence Fitzroy Bryant College, International University of the Health Sciences, Ross University School of Veterinary Medicine and the International University for Graduate Studies.

FINANCING HELP? Residency and citizenshipby-investment programmes do not offer financing options; the investment amount must be paid in full up front.

CONTACTS

www.sable-group.com www.monarchandco.com www.stkittstourism.kn www.best-citizenships.com

WHAT ABOUT INCOME TAX? There are zero personal and corporate tax rates if you are not doing business in St Kitts and Nevis. If you are trading there, then 35% corporate tax and normal country personal tax rates apply.

There is no worldwide taxation if you are not a tax resident.

DO I LOSE MY CITIZENSHIP IF I SELL? No, as long the property investment is held for a minimum of five years.

INTERNATIONAL Friday 5 February 2016

Grenada citizenship

MINIMUM AMOUNT I NEED TO INVEST? Invest at least $350,000 in a qualifying property development or business.

EDUCATION? Education in Grenada is free and compulsory between the ages of six and 14. There are numerous independent schools in Grenada, mostly located in or around the capital St George’s. Primary and preprimary schools include Grenada Montessori and Preparatory School, L’Anse Aux Epines and First Choice Junior School, Sunny Side Private School, Limes Mennonites, Kay-Dees School, Grenada Junior Academy, Alpha Primary School, and 3R’s Junior School.

St George’s University

Seychelles residency

boasts 6,000 students from more than 140 countries and offers faculties of medicine and veterinary science that are considered to be of the highest standard in the Americas. As a whole, the country has a very high literacy rate and a welleducated population. The University of the West Indies School of Continuing Studies is also available.

tax on worldwide income.

DO I LOSE MY CITIZENSHIP IF I SELL? No. You may sell your investment and keep your citizenship status and passport, provided you hold the investment for the required four years.

FINANCING HELP? Residency and citizenship-byinvestment programmes do not offer financing options.

The investment amount must be paid in full up front.

WHAT ABOUT INCOME TAX? There is only tax on income generated in Grenada and/or untaxed income remitted into Grenada. Citizens pay no

CONTACTS

www.monarchandco.com www.puregrenada.com www.gov.gd

MINIMUM AMOUNT I NEED TO INVEST? Residency is limited to the purchase of property in Pangia Beach or the Eden Island marina development, where prices start at $450,000. Other costs include a professional fee of $1,000, a processing fee of SCR1,000 (converted into dollars) and a permit application fee of SCR150,000. Property purchases for any nonSeychellois require a “sanction” application.

EDUCATION? Education is compulsory up to the age of 16, and free through secondary school up to age 18. Children are first taught to read and write in Creole. In Grade 3, English is used as a teaching language

in certain subjects, while French is introduced in Grade 6.

There are two excellent schools in Victoria on Mahé island, a five-minute drive from Eden Island. The fully fledged International School Seychelles follows the UK curriculum, while Ecole Française des Seychelles is available for French-speaking investors. The University of Seychelles is situated a little farther away in Anse Royale on Mahé.

generated within the Seychelles (for example, income tax and business tax). No further taxes will be levied.

FINANCING HELP? Mortgage finance is available through Barclays Bank, Nouvobanq and Mauritius Commercial Bank.

Tip:

WHAT ABOUT INCOME TAX? You will only be taxed on income or remuneration

DO I LOSE MY RESIDENCY IF I SELL? Yes. Residency is tied to ownership of the property, so residency would terminate on the sale of the property.

“The availability of medicines and top-end medical facilities is fairly limited, so be prepared”

Rob Mckee, CEO, Gail Gavrill International

CONTACTS

www.mfa.gov.sc www.edenisland.sc www.gailgavrill.com www.acmfinancials.com www.pangiabeach.com www.francis-changsam.com

INTERNATIONAL Friday 5 February 2016

Mauritius citizenship and residency MINIMUM AMOUNT I NEED TO INVEST? Permanent residency permits for purchasers (including spouse and dependants) are automantically linked to ownership of freehold property within an approved Integrated Resort Scheme (IRS) or a new Property Development Scheme (PDS) with a minimum investment value of $500,000. A residency permit also entitles the resident to apply for an occupation certificate, which allows the resident to start a business or to become an employee of a company

in Mauritius. After living in Mauritius for five years, the purchaser may apply for a Mauritian passport (discretionary) in addition to their residency permit.

EDUCATION? The education system in Mauritius is based largely on the British system, since Mauritius was a former British colony. The north of the island has a number of good private schools including Northfields, the International Preparatory School and Lighthouse. West Coast Private School is also excellent.

CONTACTS

www.pamgolding.co.za www.monarchandco.com www.villasvalriche.com www.maurinet.com www.govmu.org

Universities include Middlesex University London – Mauritius Campus, the University of Technology and the Open University of Mauritius. Monash has just secured a site for a new 5,000-student campus.

taxation environment, with key tax benefits including a 15% corporate and individual income tax rate, double taxation agreements with 36 countries, and no capital gains and inheritance tax on properties purchased.

FINANCING HELP? Access to finance is by application to the relevant banks. Typically a loan of up to 50% of the value of the property can be offered to foreign residents.

DO I LOSE MY RESIDENCY OR CITIZENSHIP IF I SELL? Yes, unless you can prove that you are purchasing in another development. Residency status in Mauritius is linked to the purchase of a property for more than $500,000 within an existing IRS or RES (Real Estate Scheme), or a new PDS.

WHAT ABOUT INCOME TAX? Mauritius offers a favourable

Tip:

“As a South African investor, I would look for a new PDS project, because your tax rates (5% transfer tax and 5% govenment tax) will potentially be lower.

The same investment criteria apply”

Rob Hudson, MD, Hayes, Matkovich & Associates

“Mauritius offers a favourable taxation environment, with key tax benefits including a 15% corporate and individual income tax rate, double taxation agreements with 36 countries, and no capital gains and inheritance tax on properties purchased”

INTERNATIONAL Friday 5 February 2016

Malta citizenship and residency

CITIZENSHIP MINIMUM AMOUNT I NEED TO INVEST? Citizenship is granted to to those who contribute to the economic development of Malta. Make a non-refundable contribution to the National Economic and Social Development Fund (€650,000 for the primary applicant, €25,000 for a spouse and dependants under 18, €50,000 for dependants older than 18). Purchase immovable property to a minimum value of €350,000, or rent for a minimum of €16,000 annually and invest €150,000 or more in stocks, bonds or debentures.

RESIDENCY MINIMUM AMOUNT I NEED TO INVEST? Purchase immovable property for €270,000 (south of Malta or Gozo) or €320,000 (north of Malta); or rent a property annually for €12,000 (north of Malta) or €10,000 (south of Malta). In addition, investors should contribute €30,000 and make a qualifying investment of €250,000 in a form determined by Identity Malta.

EDUCATION? As per citizenship (see left).

FINANCING HELP? Finance through the Bank of Malta can be arranged.

EDUCATION? The high standard of free education at Maltese state schools is modelled on UK schools. After students pass their A-levels, many study at the University of Malta (the oldest university in Europe; it offers undergraduate and postgraduate degrees and it is financed by the government) or the Malta College of Arts, Science and Technology.

WHAT ABOUT INCOME TAX? Expect a flat tax rate of 15% on income declared in Malta from overseas, subject to a minimum tax of €15,000.

Normal country tax, if you are a tax resident, is on a sliding scale. No worldwide taxation applies if you are not a tax resident.

DO I LOSE MY RESIDENCY IF I SELL? Yes. The investment needs to be held indefinitely to keep your residency.

FINANCING HELP? Finance through the Bank of Malta can be arranged.

WHAT ABOUT INCOME TAX? There is a flat tax rate of 15% on income declared in Malta from overseas, subject to a minimum tax of €15,000.

Normal country tax applies if you are a tax resident, on a sliding scale. There is no worldwide taxation if you are not a tax resident.

DO I LOSE MY CITIZENSHIP IF I SELL? No, provided you hold the investment for the required five years.

US citizenship and residency

Tip: CONTACTS

www.monarchandco.com www.visitmalta.com www.gov.mt

“Despite excellent medical facilities, schools and universities, Malta’s cost of living is substantially lower than the UK, Spain, Portugal, Italy and France”

CITIZENSHIP MINIMUM AMOUNT I NEED TO INVEST? First you need a Green Card (see below under Residency).

EDUCATION? The US offers high standards of state and private educational institutions from preprimary to secondary level. Among the top tertiary institutions are Harvard, MIT, Stanford, Princeton and Yale.

FINANCING HELP? Citizenship-by-investment programmes do not offer financing options. The investment amount must be paid in full up front.

WHAT ABOUT INCOME TAX? There is a dual tax treaty between SA and the US. DO I LOSE MY CITIZENSHIP IF I SELL? Not if the investment is in a regional centre for a minimum of five years, which forms part of the EB-5 Immigrant Investor Programme.

RESIDENCY MINIMUM AMOUNT I NEED TO INVEST? $1m in a new commercial

CONTACTS

www.monarchandco.com www.usa.gov www.uscis.gov www.dhs.gov www.ipglobal-ltd.com www.watsonimmigrationlaw.com

enterprise or $500,000 in a “targeted commercial area”.

In return, the US Citizenship and Immigration Services may grant conditional permanent residence (as a Green Card) for two years to meet certain requirements. If achieved, conditions will be removed and the investor will be granted full permanent residence.

financing options. The investment amount must be paid in full up front.

EDUCATION? As per citizenship (see left).

DO I LOSE MY RESIDENCY IF I SELL? No, but Green Card holders must hold an investment in a regional centre for at least five years.

FINANCING HELP? Residency-by-investment programmes do not offer

Tip:

WHAT ABOUT INCOME TAX? Once the Green Card has been issued and the investor decides to stay in the US, he or she is required to register as a tax resident. There is a dual tax treaty between SA and the US.

“In the past 10 years, Florida has become a top investment destination, largely due to it being a key tourist and retirement region” James Bowling, Founder Monarch & Co International

INTERNATIONAL Friday 5 February 2016

Portugal citizenship and residency

Tip:

“I can’t give better advice than to seek the best possible local help. I’ve made it my business over the years to engage with sound local partners”

Chris Immelman, MD, Pam Golding Properties International

“If the holder of the Golden Visa does not stay in Portugal for more than 183 consecutive days, they won’t be required to pay taxes for income generated outside Portugal”

MINIMUM AMOUNT I NEED TO INVEST? For the Golden Visa Programme to obtain a valid residency permit, you need €1m in a Portuguese company or a Portuguese bank fixed deposit, or the acquisition of real estate to a minimum value of €500,000. After six years of legal residency, residents can also apply for Portuguese citizenship.

EDUCATION? Portugal offers good international schools, including the English and American International schools in Estoril. All Portuguese educational facilities supply students with a daily lunch. The country boasts the public research University of Lisbon as well as the University of Porto.

CONTACTS

www.goldenvisa-portugal.com www.pamgolding.co.za www.sable-group.com www.visitportugal.com www.monarchandco.com

FINANCING HELP? Banks will lend up to 50% to foreigners (naturally, applicants have to qualify).

The Golden Visa Programme requires that the first €500,000 be paid in cash.

WHAT ABOUT INCOME TAX? Normal country tax applies if you are a tax resident, on a sliding scale between 0 and

35%. There is no worldwide taxation if you are not a tax resident.

If the holder of the Golden Visa does not stay in Portugal for more than 183

consecutive days, they will not be required to pay taxes for income generated outside Portugal. Rental income and income generated by capital (such as interest and

dividends) is taxed at a rate of 28%.

DO I LOSE MY RESIDENCY OR CITIZENSHIP IF I SELL? No. You may sell your

investment and keep your residency status (and passport, if applicable) provided you hold the investment for the required five years.

Acquire PERMANENT RESIDENCY in the EU on – via CYPRUS

Dependent children up to age 25 qualify Residency permits issued in 4-­‐6 weeks EU residency status is FOR LIFE !!

No need to be domiciled there for tax No need to live in the country You CAN rent out your property Low VAT & property ownership costs

Cyprus was recently voted the th 5 safest country in the world !

Contact me to discuss YOUR Plan B in Europe

Exclusive marketing agents for

JENNY ELLINAS: +27 83 448 8734 | jenny@cypriotrealty.com | www.cypriotrealty.com

INTERNATIONAL Friday 5 February 2016

UK citizenship and residency

MINIMUM AMOUNT I NEED TO INVEST? Invest £2m or more in UK government bonds, share capital or loan capital in active and trading UK-registered companies (excluding real estate companies).

EDUCATION? In the UK, schools are either provided by the local government authority (state schools) and are free for all pupils, or are independent schools and charge private fees. Independent schools have an excellent reputation for high standards of teaching and learning, and many students go on to prestigious universities such as Cambridge and Oxford when they leave. Scholarships to state schools can only be offered to students from countries in the European Economic Area (EEA). Other universities include the Imperial College of London and University College London.

FINANCING HELP? Residency and citizenship-byinvestment programmes do not offer financing options.

The investment amount must be paid in full up front.

WHAT ABOUT INCOME TAX? Normal country tax applies if you are a tax resident, but can be non-domicile if assets are kept separate prior to settling in the UK, so you will only pay tax on income generated from new assets or capital generated from that point on.

DO I LOSE MY CITIZENSHIP IF I SELL? No. You may sell your investment and keep your citizenship status and

Tip:

“Our exclusive partnership with Seeff gives South African buyers access to some 150,000 property listings worldwide including prime areas such as the UK, Portugal, Cyprus, Malta and even the US. In 2014, in London alone, there were as many South African buyers as Americans purchasing UK properties”

Cyprus citizenship and residency

passport, provided you hold the investment for the required five years. Investors will have to make the UK their primary home (spending more than 50% of their time there). The initial Investor Visa lasts 40 months and can be extended thereafter if conditions are met.

Alasdair Hedley, Head of International for Hamptons CONTACTS

www.monarchandco.com www.gov.uk www.hamptons.co.uk

CITIZENSHIP MINIMUM AMOUNT I NEED TO INVEST? You need a single property investment of minimum €2,5m or a multi-property investment of minimum €3m. Dependant children up to age 28 qualify for citizenship. Citizenship is passed on by descent, offering a legacy to future generations.

EDUCATION? Education is compulsory for all children aged five to 15 years old. Public schooling, including higher education, is paid for by taxes. Accredited independent schooling is also available.

Top universities include the European University Cyprus, Frederick University, Neapolis University, Girne American University and the University of Nicosia.

FINANCING HELP? The citizenship-byinvestment programme does not offer financing options.

The investment amount must be paid in full up front.

WHAT ABOUT INCOME TAX? Normal country tax applies if you are a tax resident, on a sliding scale between 0 and 35%. There is no worldwide taxation if you are not a tax resident.

DO I LOSE MY CITIZENSHIP IF I SELL? You may sell your investment and keep your citizenship status and passport, provided that you hold the investment for the required three years and you retain a property to the value of minimum €500,000, which can be r ented out.

Tip:

“Take the time to go on a property inspection trip to look at the properties yourself, and only deal with organisations with a solid reputation in SA and in Cyprus. Do your research, get as many referrals and recommendations as you can, and meet them in their place of business — that way you can be assured they are reputable”

Jenny Ellinas, Cypriot Realty

RESIDENCY MINIMUM AMOUNT I NEED TO INVEST? A single, secure real-estate investment of €300,000; or two adjacent apartments or townhouse units to a total minimum value of €300,000.

Dependant children up to age 25 qualify for residency.

The residency permit automatically renews, and is for life.

EDUCATION? As per citizenship (see left).

FINANCING HELP? You can apply for financing for the residency programme.

Only two-thirds of the purchase price needs to be paid before the fast-track residency application process can be started. All resales need to be cash.

WHAT ABOUT INCOME TAX? Normal country tax applies, if you are a tax resident, on a sliding scale between 0 and 35%. There is no worldwide taxation if you are not a tax resident.

DO I LOSE MY RESIDENCY IF I SELL? After three years you may sell your investment and keep your residency status, provided you hold an investment of minimum €300,000 indefinitely.

CONTACTS

www.cyprusvisa.eu www.cypriotrealty.com www.monarchandco.com www.vasslaw.com

PROPERTY LAW Friday 5 February 2016

property can pass to the state as early as the next day.”

CHALLENGING IN COURT A property owner who wants to challenge the validity of the expropriation or the compensation offered by the state must go to court to do so. Says Jeffery: “Court is expensive, and there is still no guarantee that the case will be won — which will mean that the owner not only loses out on the property, and on fair compensation, but on the costs of the court case. Most people will have no choice but to accept whatever compensation the state has offered.”

In addition, the bill does not recognise losses through indirect expropriation — for instance when a company is required to transfer 51% ownership of its business at a loss to a BEE investor, who might not have the complete funds to cover the transaction.

They will not be able to claim damages under the new bill.

“This is particularly significant as the new BEE generic codes are putting pressure on companies to make 51% deals, and if they are dealing with an investor who lacks capital, they will have to offer a steep discount, which the business will simply have to absorb,” says Jeffery.

Expropriation Bill: land grabs back on the table?

PHOTOS: ISTOCK, SUPPLIED

The Expropriation Bill currently before parliament contains some clauses that could spell trouble for property rights in SA. Anthea Jeffery, head of policy research at the Institute of Race Relations, explains the potential outcomes

T

he Expropriation Bill of 2015 currently sits before Parliament, with the intention of streamlining expropriation rights for all government agencies. Yet according to race relations policy expert Dr Anthea Jeffery, while the bill may do just that, it also leaves property owners open to potentially massive losses, should government decide to expropriate their homes, land or other property.

A particularly problematic clause, which recently appeared in the latest version of the bill, is essentially the same as one removed from an earlier version of the Promotion of Investment Bill of 2015, after significant objection.

OWNER OR CUSTODIAN? The clause now found in the Expropriation Bill defines expropriation as “the compulsory acquisition of property by an expropriating authority”. Jeffery explains that this narrow definition means that no expropriation will take place if “the state does not acquire ownership” of a property. “If the state says that it will take property as custodian, rather than as owner, then this is unlikely to count as an expropriation, and

the current owner will then get no compensation,” says Jeffery.

This reasoning was applied by the Constitutional Court in 2013, in the case of Agri SA v Minister of Minerals and Energy. This case was brought under the Mineral and Petroleum Resources Development Act of 2002, under which all mineral resources became vested in the custodianship of the government. In this case, the company had an “old order” mining right, which it was unable to convert to a “new order” right and it thus “ceased to exist” under the act.

The company therefore went to court to claim compensation for expropriation.

In ruling on this claim, Jeffery explains, the Constitutional Court effectively laid down a new test for expropriation. It said that expropriation requires both a deprivation of ownership and an acquisition of ownership by the state. Where the state acquires custodianship, rather than ownership — as happened under the MPRDA — then there is no expropriation.

This means there is also no compensation to be paid.

THE COST OF SEMANTICS On its current wording, Jeffery says the Expropriation

Bill opens up the potential for similar outcomes if the state were to acquire the custodianship of residential or farmland, for instance.

The latest version of the bill has also changed its purpose from “to provide for the expropriation of property for public purposes or in the public interest, subject to just and equitable compensation” to a newer version. Here the condition “subject to just and equitable compensation” has been removed.

The bill also allows for the “history” of the property to be taken into account when determining compensation for expropriation, allowing for a reduction in compensation based on previous ownership.

This formula, which comes from the property clause in the constitution, means that compensation may be significantly lower than market value. But expropriation is a drastic remedy, so the bill should also entitle owners to damages for any direct loss resulting from an expropriation (as the current Expropriation Act of 1975 provides).

At the same time, the bill also allows the state to carry out an expropriation by serving a notice on the owner, which Jeffery says is unconstitutional. “The state has to go through a preliminary process and invite the owners to make representations, but it is not required to give reasons for rejecting these representations. Once it has investigated the value, it can simply expropriate without court approval and by service of a notice. Ownership of the

“Court is expensive, and there is still no guarantee that the case will be won — which will mean that the owner not only loses out on the property, and on fair compensation, but on the costs of the court case as well”

FOREIGN INVESTOR PROTECTION? This may be concerning for foreign investors, especially those from Europe, who have recently been subjected to the cancellation of the bilateral investment treaties their countries entered into with SA in the mid-1990s. These investors are now supposed to be protected by the new Investment Bill. However, neither this bill, nor the Expropriation Bill, offers sufficient protection against expropriation, whether direct or indirect.

“Government has an extraordinarily cavalier attitude to what makes for growth and jobs. Despite sustained warnings from a number of people about the growing threat to property rights, and how this could damage direct investment and reduce the growth rate, it seems to put those warnings to one side and to proceed in any event,” says Jeffery.

She notes that the Investment Bill has already been approved by Parliament, while the Expropriation Bill may shortly be adopted as well. Yet the threat these bills pose to foreign and local investors, as well as to all land and homeowners in SA, has not been adequately canvassed or understood. There needs to be much more pressure on the government to abandon its current course of action.

Says Jeffery: “There should be a massive outcry about the Expropriation Bill, in particular, as it creates a major risk to the property rights of all South Africans.”

FOCUS ON ACORN CREEK Friday February 5, 2016

Go with the flow Optimal indoor-outdoor fusion is achieved by modern architecture at Acorn Creek

A

corn Creek is situated in the spectacular Helderberg region of the Western Cape. Here, you can relax and enjoy the things that are important to you. The surroundings offer beautiful mountain trails, prestigious golf courses, innumerable wineries and stunning beaches.

The contemporary village

by MSP Developments places emphasis on spatial planning with urban design inspired by the creek running through the village — the creek will be a key design element of the open garden areas. The north-facing orientation of the village homes blurs the barriers between indoor and nature, as lounge and dining areas seamlessly open up to pergola-covered patios and landscaped gardens — ideal for the entertainer.

Design options include Grohe mixer taps, Defy ovens with

electric hobs and extractor fans, as well as uninterrupted power solutions. For added winter warmth and intimacy there is a choice between a gas or a wood-burning fireplace.

All homes will enjoy high-speed fibre-optic connectivity and have solar geysers fitted.

Superior security will add to the allure of the development. Acorn Creek offers a 24/7 guarded main entrance that incorporates biometric access-control technology and numberplate recognition software to monitor and manage access. A biometric-enabled turnstile will provide controlled access to pedestrians and domestic staff.

The development’s perimeter is secured with galvanised mesh fencing that protects against digging, climbing and cutting. Acorn Creek will also have a network of monitored

FOCUS ON ACORN CREEK

Friday February 5, 2016

GET IN TOUCH Visit www.acorncreek.co.za, e-mail acorncreek@mspd.co.za or call 021 801 5400

‘It’s our mission to offer buyers a safe and tranquil environment coupled with convenience’ Riaan Roos, CEO, MSP Developments thermal-imaging cameras to further enhance the security of residents.

Accessibility is another key consideration. The N2 freeway gives quick access to the nearby international airport and the Cape Town city centre. The development is adjacent to Sitari Country Estate and will offer residents convenient, direct access to the commercial and educational facilities that are available there, including

Checkers and the new Curro private school.

Construction will be undertaken in eight phases with phase one due to commence in the last quarter of 2016. Village homes will be priced at about R2m.

MSP Developments, currently one of the largest private developers in the Western Cape, was established in 2002 and has built in more than 5,000 homes.

FOCUS ON THE SANDHURST February 6 2016

Opulent living in Sandton WORDS AND IMAGES: SUPPLIED

There is a new definition of luxury set in the most elite suburb of Sandton

T

he Sandhurst prestigious homes offer luxurious living designed to suit the needs of an exclusive and discerning homeowner. These four architecturally bespoke homes redefine the meaning of elegance and opulence.

Where greater Sandton is dominated by the development of skyscrapers and high-density living, The Sandhurst is a hidden gem in the unrivalled location of Sandhurst.

Designed with highend living in mind, this estate combines sleek, contemporary lines with the warmth of natural textures and tones. Voluminous high ceilings, expansive living spaces, refined finishes throughout, and designer kitchens and bathrooms are key features in these exquisite homes. The generously proportioned four, five or six en-suite bedrooms are flooded with natural light.

A rim-flow pool, deck and spacious lush gardens are seamlessly integrated on about 1,000m2. It is an entertainer’s dream with a harmonious indoor-outdoor lifestyle.

With the added advantage of energy-efficient features such as LED light fixtures and gas geysers, The Sandhurst is one of a number of estates developed and marketed by iLynn Designs Property Development Specialists, to feature energy-

saving advantages.

Says Lynn Petzer, head of iLynn Designs: “The Sandhurst is about bespoke living for the discerning few — an expressive environment where one can live, relax, entertain and feel like all one’s needs have been met.”

Although you would never guess it from the peaceful suburban atmosphere, the

bustle of Sandton’s financial hub and gateway into Africa is minutes away. This means quick access to the Gautrain, Sandton City Shopping Centre and SA’s most prominent businesses and schools.

The Sandhurst prestigious homes have set a new benchmark in high-class, opulent living.

BESPOKE SERVICE

iLynn Designs Property Development Specialists is a property development division of Lynn Estates, and is fast becoming a market leader in bespoke luxury living for the elite and discerning individual.

Lynn Estates will be responsible for marketing The Sandhurst, and have specialised in the selling of pinnacle developments for over 26 years, including The Michelangelo Towers, Sandhurst Towers and Sandton Skye. Within this enterprise is the benefit of a bespoke interior design service offered exclusively by Jayd Designs, a subsidiary of Lynn Estates.

FOCUS ON THE SANDHURST February 6 2016

“Designed with high-end living in mind, this estate combines sleek, contemporary lines with the warmth of natural textures and tones”

THE SANDHURST’S OPULENT LIVING FEATURES 4 exclusive architecturally bespoke homes Sought-after address Spacious stands of about 1,000m² 4, 5 or 6 luxurious bedrooms en suite Designer kitchens and bathrooms Sparkling rim-flow pool Double/triple garages Staff quarters Secure estate Proximity to shops, entertainment, schools, businesses and the Sandton CBD From R19,995,000 including VAT

GET IN TOUCH Lynn Estates 083 655 5539 info@lynnestates.co.za www.lynnestates.co.za

PROPERTY TREND Friday February 6 2016

REITS: GOOD TO KNOW Low-risk exposure to good investment-grade properties Your investment is underpinned by solid lease agreements Properties are professionally managed Reits are subject to strict governance requirements Low cost of entry to the sector It’s quick and easy to buy or sell shares in Reits Reit shareholders pay no tax on buying or selling shares, and receive their gross distributions without dividends tax being levied — but they do have to include these distributions in their taxable income and pay tax at the applicable income-tax rate. www.reits.co.za www.sareit.com

Good investing beyond bricks and mortar Real Estate Investment Trusts are a good option for investors who want to achieve above-average returns but also limit their exposure to stock market volatility WORDS: MEG WILSON :: PHOTOS: ISTOCK :: CHARTS: IAN ANDERSON

“By November 2015 there were 33 South African Reits and three nonSouth African Reits listed on the JSE, with a combined market capitalisation of R455bn”

PROPERTY TREND Friday February 6 2016

I

t’s an accepted view that property is a good investment, but for some the thought of selecting, financing and managing rental units — or dealing with tenants — is so daunting that they never follow through on the inclination. These investors don’t have to give up on property altogether, as there are several alternatives to direct bricks-and-mortar investments in this sector, the most accessible of which are Real Estate Investment Trusts (Reits).

These are the listed property-investment vehicles that in 2013 replaced the old, often arcane property unit trusts or property loan-stock companies. By November 2015 there were 33 South African Reits and three non-South African Reits listed on the Johannesburg Stock Exchange (JSE), with a combined market capitalisation of R455bn.

“Despite a tough operating environment and the brutal turmoil that hit local markets in December, the South African Reit sector continued its excellent track record of outperformance for investors in 2015” Laurence Rapp, chairman of South African Reit Association

REITS DIVERSITY The business of Reits is to enable individuals and institutional investors to collectively own and operate a portfolio of incomeproducing properties such as shopping centres, office buildings, factories, warehouses, hotels and hospitals in cities and towns across the country. Most Reits are diversified and own

several types of property, but there are also niche or specialist Reits that focus only on a certain type of property, or invest only in properties outside SA. For example, Sirius Real Estate, which was only recently listed on the JSE, is focused entirely on mixeduse business parks in major German cities. Or take the Rebosis Property Fund that is currently being reorganised to focus exclusively on retail centres; while the less-exciting governmenttenanted office blocks Rebosis owns are shifted into its subsidiary Ascension Properties.

On the other hand, Vukile Property Fund, which is currently focused primarily on retail investments, is aiming to diversify its portfolio quite substantially.

It recently announced that it would convert a Randburg office building that it owns into residential apartments, for example. The company also said it would be adding more assets in developed markets to complement its interest in Atlantic Leaf, which owns industrial properties in the UK. These sorts of Reits make money for their investors through the rentals paid by tenants in the properties they own, as well as through the increasing value of these

Total return indexes

properties. This is distributed (paid out) in the form of dividends, usually every six months. And they’ve done very well for their investors over the past 10 years, during which they’ve outstripped both the All Share Index and the All Bond Index.

BEST ASSET CLASS? According to Laurence Rapp, chairman of the South African Real Estate Investment Trust Association, the listed property sector has not only increased in size and economic impact in recent years, but continued to be the best-performing asset class in SA in 2015, despite the weakness of the economy.

“Despite a tough operating environment and the brutal turmoil that hit local markets in December, the South African Reit sector continued its excellent track record of outperformance for investors in 2015,” said Rapp. It deserves consideration from any serious investor.

Of the Sunday Times Top 100 Companies survey, Rapp notes that there were 11 South African Reits among the listed companies that earned the most for their shareholders on the JSE over the past five years. This was based on compound annual growth rates. And the top award went to one of them

— the Fortress Income Fund, which delivered an annual compound return of 72,7%.

The other 10 topperforming Reits were Capital Property Fund, Emira Property Fund, Growthpoint Properties, Hyprop Investments, Octodec Investments, Redefine Properties, Resilient Property Income Fund, SA Corporate Real Estate Fund, Sycom Property Fund and also Vukile Property Fund.

So it’s no surprise really that Reits have been attracting increasing numbers of individual investors and boutique investment fund managers who want to achieve aboveaverage dividend income but also limit the extent to which they could be directly affected by market volatility.

Keillen Ndlovu, head of listed property funds at Stanlib, says the South African listed property sector has become more attractive recently, thanks to the fact that it offers local investors exposure to foreign markets that are not facing SA’s current currency or creditrating problems.

The recently listed Atlantic Leaf Properties, Capital & Regional, Delta Africa, International Hotel Group, New Freedom Properties, Schroder European Real Estate Investment Trust and Stenprop all offer investors rand-hedge opportunities — it’s estimated that offshore property assets now make up some 30-35% of the South African listed property index.

As the South African Reit Association points out, anyone can invest in a Reit.

Doing so is easier than you think. The JSE requires a minimum investment in a South African Reit of just one share. Investments can be made directly via a securities account (online or via a stockbroker) or through a collective investment scheme such as a unit trust or retirement annuity. The South African Reit Index can also be your investment tool to obtain exposure to the whole sector.

Five-year annualised performance to November 30 2015

“Of the Sunday Times Top 100 Companies survey, Rapp notes that there were 11 South African Reits among the listed companies that earned the most for their shareholders on the JSE over the past five years”

SUSTAINABLE BUSINESS Friday February 5 2016

Investing in green

We have committed to 5,060 units but over time hopefully this number could increase.

How is that relevant?

In addition to an electricity crisis and pressure on water resources, SA is among the world’s top 20 countries in terms of high CO2 emissions.

And greening homes in the design and building stage ultimately saves on a homeowner’s running costs.

WORDS: KIM MAXWELL :: PHOTO: SUPPLIED

Myles Kritzinger, dealmaker for International Housing Solutions, explains how private equity and property are overlapping in sustainable builds that also make good business sense

chartered accountant and I sit on the dealmaking team.

When was IHS’s first investment in local property funds?

The first IHS fund was started about seven years ago. It was for the delivery of about 25,000 affordable housing units. We’re a fund that has secured investors and that has a mandate to invest their money in SA’s affordable housing market and complete large-scale projects for social impact investing.

How is International Housing Solutions (IHS) linked to property?

We are a private-equity firm based in Joburg. We source investors and then commit and invest capital into certain projects in the affordable residential space.

We distribute money from a fund back to the investors at various points during the life of a fund. We develop secure residential complexes and housing schemes that supply both the affordable rental and bonded homeowner markets. There are other local businesses considering these projects, but IHS invests on a larger scale.

“The EDGE design rating of the Ravenswood project should bring total annual savings of 250,000kWh electricity and more than 10,000kl water”

Where are these green homes?

IHS partnered with the IFC to roll out the greenbuilding programme in the South African residential market. We’ve received EDGE preliminary design certification for three pilot projects: Ravenswood in Boksburg (with planned occupation in July 2016), Glenhaven in Bellville (occupation in May 2017) and Clubview in Centurion (occupation in October 2017).

There are 729 green units, all sectional title low- to middle-income market homes in established residential suburbs. The first certified project is Ravenswood, with 188 two-bedroom, onebathroom units. Ordinarily the Ravenswood 53m2 to 55m2 homes would sell for R580,000 to R650,000 a unit, but IHS acquired them all from RPP Developments as rental stock.

What about returns?

It’s social impact investing, so it’s designed to help bridge the shortage of supply in the lower- to middle-income housing market while still providing a healthy return to investors.

Which green property investments are IHS involved in?

Over a year ago we opened our second unlisted IHS affordable-housing fund. We have now committed, along with the International Finance Corporation (IFC) and the Green Building Council South Africa (GBCSA), to rolling out 5,060 green homes.

Collectively we have certified three new local housing developments in a pilot phase, using the Excellence in Design for Greater Efficiencies (EDGE) online building tool.

What does it mean to be a dealmaker?

A dealmaker is someone who identifies potential projects and investment opportunities, packages the deal for approval by our investment committee and manages the process until all agreements have been signed and the deal is closed or handed over. I’m a qualified

How does EDGE certification work?

The process involves preliminary design certification and as-built certification. EDGE requires a minimum of 20% green savings on current national building regulation requirements, which results in big savings on water and electricity for homeowners

and tenants down the line.

The EDGE design rating of the Ravenswood project should bring total annual savings of 250,000kWh electricity and more than 10,000kl water. EDGE helped us crunch the numbers for the most affordable path to building green.

Can existing homeowners use it?

The EDGE online tool is aimed to be used more by a residential developer who would have existing knowledge of where to source greener materials for a new build. They would register online with the GBCSA. The developers and their team take the initiative to incorporate certain designs into their development to get it green-certified so that the benefits can be passed on to the homeowner.

What else does IHS have planned?

To roll out about 20,000 homes to the South African and sub-Saharan African markets over the next 10 years.

Of those, 5,060 will be EDGEcertified green homes, as only a component of our Affordable Housing Development Fund Two has a green requirement.

What is the wider implication for South African property?

Our fund and its related properties serves those 5-million South African households whose income is too high to qualify for public housing programmes yet too low to afford most market-rate housing. This market segment represents a sizeable “missing middle” in the country’s housing supply. These people don’t go through government subsidies; they apply for normal bond approval through a bank or mortgage lender.

“We’re a fund that has secured investors and that has a mandate to invest their money into SA’s affordable-housing market and complete large-scale projects for social impact investing”

STELLENBOSCH R 3 200000 WEB 8298 _________________

STELLENBOSCH R4 200 000 WEB 8377 _________________

> BEDROOMS 2 > BATHROOMS 2 > GARAGES 2

Get your hands on one of the last plots available in Dalsig area, that is north facing and close to all amenities.

Exquisite mountain views.

Size 1022 m².

_______________________

This Georgian style house offers comfort and space amongst the winelands.

www.annabasson.co.za

T:+27 21 887 4740

S

STELLENBOSCH > Bed 3 > Bath 2 > Garages 2

R3 700 000 WEB 8412

STELLENBOSCH > Bed 2 > Bath 1

R1 425 000 WEB 8353

STELLENBOSCH R1 200 000 > Bed 2 > Bath 1 > Park WEB 8385

STELLENBOSCH

R5 590 000

> Bed 3 > Bath 2 > Garage 2WEB 8419

STELLENBOSCH > Bed 4 > Bath 2 > Garage 3

R4 200 000 WEB 8399

STELLENBOSCH > Bed 3 > Bath 2 > Garage 1

R2 800 000 WEB 8405

EXCLUSIVE LIFESTYLE LIVING R14.4 million

Luxurious family home perched on the magnificent Tygerberg Hills Nature Reserve. Boasting uninterrupted panoramic views of Table Mountain and Table Bay. An entertainers dream with over 700m2 of space.

Modern architectural open-plan home with designer kitchen, finishes and accessories.

Bedrooms 5 / Bathrooms 5 / Garages 2 / Ref# 1PV1109531

BARON E TCY E STAT E , CAP E TOW N AGENTS: Pierre Nel 076 967 3766 / pierre.nel@pamgolding.co.za Tonja Ellman 082 978 3576 / tonja.ellman@pamgolding.co.za

B

aronetcy Estate was launched to market in 2004, on land which was formerly part of the acclaimed De Grendel Wine Estate, still its most immediate neighbour. The name

honours Sir David de Villiers Graaff, the first of his family to assume the title after their baronetcy was granted in 1911.

This upmarket secure residential development occupies an elevated position on the slopes of the Tygerberg Hills, with many

The Estate is booming with some of Cape Town’s most modern, luxurious homes. properties enjoying sweeping views towards Table Mountain, Southern Suburbs and Western Seaboard. Baronetcy Estate abuts the 300ha Tygerberg Nature Reserve, and has been carefully landscaped with green corridors to create a sense of connection to the reserve’s indigenous fauna and flora.

The Estate is blooming with some of Cape Town’s most modern, luxurious homes. Current properties in the market range from R8.6 – R30 million for completed homes, and vacant land starting at R3 – R4.5 million.

Current home owners are established

corporate professionals and senior executives.

With the most perfect location, just 20 minutes from Stellenbosch, 18 minutes from Cape Town CBD and Blouberg and 8 minutes drive from Century City, residents on Baronetcy Estate enjoy quick easy access to a host of good schools and amenities.

/PamGoldingProperties

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@PamGoldingGroup

PROPERTY NEWS Friday February 5 2016

GO-AHEAD FOR CLAIRWOOD LOGISTICS PARK

Construction of the R3.5bn Clairwood Logistics Park will begin in the first quarter of 2016, creating much-needed employment and business opportunities within the South Durban Basin.

KwaZulu-Natal’s MEC of Economic Development, Tourism and Environmental Affairs, Michael Mabuyakhulu, gave the project the green light after his department found that the amended environmental impact report received from the Capital Property Fund in September 2014 complied with stringent regulations and adequately addressed concerns raised during an appeal.

The Clairwood Logistics Park will be located on the site of the former Clairwood racecourse, which was purchased by the former Capital Property Fund (now Fortress Income Fund) in 2012 for R430m. Fortress Income Fund intends developing about 350,000m2 of warehousing with the remainder becoming paved areas to service the facilities.

The development will also include an 8ha wetland which will be fully rehabilitated.

Says Nico Prinsloo, development manager for Fortress Income Fund: “The Clairwood Logistics Park will not only meet growing demand for A-grade logistics and distribution facilities in the south of Durban, but also improve the livelihoods of surrounding communities through job creation.”

The new facility is expected to create an estimated 18,900 jobs during the fouryear construction period and more than 4,600 permanent jobs after completion in December 2020.

Investing in student accommodation

I

n recent years student accommodation has come to present a real opportunity for investors.

As it is predominantly a segment that includes smaller properties with good returns, there are some characteristics to consider.

“The key factors making student accommodation attractive are the high demand and the stable income generation it gives, due to low operating costs,” says Lesiba Mooka, CEO of Cobalt Blue Properties.

“Institutions are not able to provide sufficient accommodation for all their students and this has opened doors for investors to enter the market.”

Mooka points out that the University of Johannesburg can only accommodate 6,500 students, Wits 5,000 and the University of Pretoria just short of 6,000 — but each of these institutions has an estimated 30,000 students or more on their main campuses.

He says the most important considerations when looking at potential opportunities in student accommodation are the proximity to the university, the condition of the building and, of course, the price.

“The area where the property is located will affect the travelling times to and from the campus and the accessibility of public transport, as well as things like security,” he says. “The property shouldn’t be so big that students have to pay too much, but it also shouldn’t be

too small. Most students tend to avoid university residences because they consider them to be small and cramped.”

Although some investors have realised an opportunity through buying old office buildings and turning them into apartment blocks for students, Mooka suggests that anyone wanting to enter this market should rather think of starting smaller.

“As a start, I’d advise investors to look at small apartments or old houses that they can turn into student communes,” he says. “The monthly operating expenses on these types of properties will be lower, as will the startup capital. Only when they’ve acquired enough experience in operating these properties efficiently and are aware of all the difficulties that come with owning one, should they look into something bigger,

“The property shouldn’t be so big that students have to pay too much, but it also shouldn’t be too small. Most students tend to avoid university residences because they consider them to be small and cramped”

such as an old office building to convert.”

He says that for one- or two-bedroom apartments, investors should be able to find properties in the price range of between R350,000 and R450,000. These could realise rentals of between R4,000 and R8,000 a month, depending on the number of beds per room. The alternative is to pay between R700,000 and R900,000 for a standalone house that can be made student-friendly.

This could see rentals of between R15,000 and R20,000 a month, depending on the number of rooms and tenants.

New legal chambers in Joburg CBD embrace change

F

our heritage buildings in the Johannesburg CBD are being redeveloped as new chambers for the next generation of legal professionals.

Property development company Propertuity has purchased four historical buildings in the Johannesburg CBD to convert into legal chambers.

The buildings are located at 66-72 Pritchard Street, a block away from the high court, and will provide office

spaces for a new generation of legal professionals.

When complete, the R72m project will be known as the Chambers of Change.

The exteriors of the four heritage buildings — Cuthberts Building, Hilson House, The Royalty, and Dunvegan Chambers — will be preserved and restored, while the interiors will be divided into spaces for about 200 legal professionals.

There will also be a restaurant on the first floor

and a bar on the roof.

“We are aiming to attract advocates who are looking to have quality office space a block away from the high court,” says Jonathan Liebmann, founder and CEO at Propertuity. “We have some tenants already in mind, but will start marketing and placing tenants closer to completion, which is scheduled for mid-2016.”

Liebmann says that Propertuity is encouraged by and committed to the

“The exteriors of the four heritage buildings — Cuthberts Building, Hilson House, The Royalty, and Dunvegan Chambers — will be preserved and restored, while the interiors will be divided into spaces for about 200 legal professionals”

development of the inner city.

“It is natural for the inner city to regenerate as it’s the most central location and has the best infrastructure, so it’s only a matter of time until it becomes the most prime property again. These buildings are right in the middle of the inner city in an area that has seen billions of upgrades happen over the past 10 years, so values have improved significantly.”

The spaces will feature detailed attention to security and design, and will have high-end communal areas including boardrooms, rooftop restaurants and a spa, the intention being to make them desirable to the legal community.

It is hoped that these new buildings and facilities will be part of a larger inner city regeneration similar to what has been observed in the nearby Maboneng precinct.

PROPERTY NEWS Friday February 5 2016

Increasing development in Pretoria

D

evelopments across Pretoria are changing the face of the area and making it more lucrative.

Juanita du Plessis, property consultant at Lew Geffen Sotheby’s International Realty, says security and lifestyle are paramount in new developments this year, with a focus on energy-saving mechanisms, greener ways of building and hi-tech communication infrastructure.

Says Du Plessis: “There’s a major focus on what’s dubbed The East Capital, a new R44bn city in Hazeldean.

There is substantial growth expected in the New East area, which has grown exponentially over the past decade, especially Hazeldean, Tyger Valley and Silverlakes golf estates. Construction of the PWV17, known as Hazeldean Boulevard — the R90m road part of this development, linking the N4 and R21 — should also start this year.”

Ross Gillett, MD of Jawitz Centurion, says Centurion continues to show major growth with recent developments aimed at the lower end of the market. He says large flat complexes — especially those with two bedrooms and one bathroom, priced between R550,000 and R850,000 — are being developed in Centurion.

Rosella Dingle, joint CEO, Rainbow Junction Development Company, says construction on Rainbow Junction, a new R2,5bn shopping centre 6km north of the Pretoria CBD, should begin shortly.

Dingle says road construction surrounding the mall commenced in July 2015. The megaproject valued between R10bn and R12bn will take place over a 10- to 15-year development phase.

Jan Davel, MD of RealNet, says more than 40 new residential developments are under way, mostly in three nodes of Equestria: the

home is...

“Developments across Pretoria are changing the face of the area, and making it more lucrative”

A place of fun & laughter

WHAt dOes HOme meAn tO yOu? We’ll help you find it...

W W W . A H P R O P. C O . Z A

Willows and Silverlakes node; the Orchards, Pretoria North and Amandasig node; and the Mountainview, Booysens and Daspoort node.

Davel says the main types of developments in 2016 will include sectional title flats and freestanding homes, retirement villages and luxury flats and estate homes. “The Menlyn Maine development is giving rise to new

developments in Menlo Park and Faerie Glen, and two new student-flat developments are under way in Hatfield.

“There’s a trend towards smaller, lower-maintenance homes driven by rising utilities costs and lifestyle changes, with many older parts of the city being rejuvenated through infrastructure contributions by developers.”

PROPERTY NEWS Friday February 5 2016

Increasing development in Pretoria

D

evelopments across Pretoria are changing the face of the area and making it more lucrative.

Juanita du Plessis, property consultant at Lew Geffen Sotheby’s International Realty, says security and lifestyle are paramount in new developments this year, with a focus on energy-saving mechanisms, greener ways of building and hi-tech communication infrastructure.

Says Du Plessis: “There’s a major focus on what’s dubbed The East Capital, a new R44bn city in Hazeldean.

There is substantial growth expected in the New East area, which has grown exponentially over the past decade, especially Hazeldean, Tyger Valley and Silverlakes golf estates. Construction of the PWV17, known as Hazeldean Boulevard — the R90m road part of this development, linking the N4 and R21 — should also start this year.”

Ross Gillett, MD of Jawitz Centurion, says Centurion continues to show major growth with recent developments aimed at the lower end of the market. He says large flat complexes — especially those with two bedrooms and one bathroom, priced between R550,000 and R850,000 — are being developed in Centurion.

Rosella Dingle, joint CEO, Rainbow Junction Development Company, says construction on Rainbow Junction, a new R2,5bn shopping centre 6km north of the Pretoria CBD, should begin shortly.

Dingle says road construction surrounding the mall commenced in July 2015. The megaproject valued between R10bn and R12bn will take place over a 10- to 15-year development phase.

Jan Davel, MD of RealNet, says more than 40 new residential developments are under way, mostly in three nodes of Equestria: the

home is...

“Developments across Pretoria are changing the face of the area, and making it more lucrative”

A place of fun & laughter

WHAt dOes HOme meAn tO yOu? We’ll help you find it...

W W W . A H P R O P. C O . Z A

Willows and Silverlakes node; the Orchards, Pretoria North and Amandasig node; and the Mountainview, Booysens and Daspoort node.

Davel says the main types of developments in 2016 will include sectional title flats and freestanding homes, retirement villages and luxury flats and estate homes. “The Menlyn Maine development is giving rise to new

developments in Menlo Park and Faerie Glen, and two new student-flat developments are under way in Hatfield.

“There’s a trend towards smaller, lower-maintenance homes driven by rising utilities costs and lifestyle changes, with many older parts of the city being rejuvenated through infrastructure contributions by developers.”

FOCUS ON BALWIN PROPERTIES Friday February 5, 2016

GET IN TOUCH Balwin Properties 011 450 2818 www.balwin.co.za

Quality living of the highest level

Balwin Properties developments continue to offer more to residents and investors

FOCUS ON BALWIN PROPERTIES Friday February 5, 2016

S

ince 1996 Balwin Properties has built an impressive portfolio of sectional title lifestyle estates in Johannesburg, Pretoria, Cape Town and Somerset West, the quality of which has been recognised at the highest level.

In 2015, Balwin Properties won an African Property Award. This widely respected and prestigious award celebrated the quality of Balwin’s offering.

All Balwin developments are designed in partnership with leading South African architects, to ensure timeless designs that pay respect to their surroundings and maximise available space and natural light, while offering each apartment maximum privacy.

Balwin’s one-, two- and three-bedroom apartments come standard with highend finishes and fittings and eco-friendly appliances such as an undercounter electric oven, gas hob with extractor fan, washing machine and tumble dryer. Groundfloor apartments include a private garden, and all other apartments have private outdoor patios.

In a time when personal and property security is top of mind and arguably the most important aspect when choosing a home, the 24hour physical and electronic security offered at all Balwin developments ensures that homeowners and their family members can enjoy the estates in safety.

Each development has beautiful, landscaped communal green areas for walking and jogging, picnicking and children’s outdoor play. But perhaps the greatest point of difference

“Each development has beautiful, landscaped communal green areas for walking and jogging, picnicking and children’s outdoor play”

in a fiercely competitive property market is the fact that Balwin developments include an on-site lifestyle centre with a wide variety of leisure, entertainment and sport facilities for the exclusive use of residents.

Whether to relax or socialise with friends and family, all Balwin residents have access to a wellmaintained on-site swimming pool and braai area. Balwin’s Lifestyle Centres offer some or all of the following facilities: a fully equipped state-of-the-art gym, yoga and Pilates facilities, a squash court, fitness track and multipurpose sports field.

A selection of Balwin’s developments offer families the added value of outdoor and out-of-home entertainment space such as children’s playgrounds and entertainment centres with activities such as table tennis and pool, and a familyfriendly cinema room with big projection and comfortable seating.

For residents who work virtually or run their business from home, Balwin’s Lifestyle Centres accommodate business meetings and presentations in the Wi-Fi enabled lounge area and meeting rooms.

Balwin Properties’ developments are sought after by young professionals looking for a convenient location, modern design and well-equipped homes.

The developments appeal to couples investing in their first homes and growing small families because secure access to schools and shopping amenities are important. The homes are also sought after by retired people wanting a well-maintained, safe lock-up-and-go home close to healthcare, as well as local and international property investors who are attracted by the great returns on investment these developments offer.

WESTERN CAPE THE EPITOMY OF STYLE AND SOPHISTICATION! As you enter this ambassadorial masterpiece you are welcomed by a hand painted double volume entrance hall. The regal dining room leads through double doors into an elegant formal lounge.

Gourmet kitchen flows into the family room and designer bar area all opening onto an extensive entertainers patio overlooking garden set on 4000 sqm. The classical master suite flows out onto a private patio featuring magnificent mountain views. 4 additional bedroom suites. State of the art security, wine cellar, 4 garages and ample parking, irrigation, borehole and staff flatlet.

BEDROOMS: 5 BATHROOMS: 5

UPPER CONSTANTIA R24.9 million

Charne Shipper 083 274 6336 Ingrid Hoaten 082 490 6246 Web Ref: 86292

GAUTENG DRAMATIC FUSION OF MODERN LIVING. Alluring double volume entrance with an imposing glass door walks you into the open living spaces and abundance of natural light. Created with luxurious comfort and a lavish lifestyle in mind with exceptional entertainment facilities. A floating staircase leads to the upper level onto the unparalled master suite with a lavish his and hers bathroom and private lounge, 3 additional en suite bedrooms on the ground level. The outstanding modern kitchen includes integrated smeg appliances and a cozy breakfast nook. Relax with friends at the understated cocktail bar. Extensive extras include a roof top terrace leading to your own secluded office, excellent security and cctv cameras, 3 garages, 2 carports and ultra lux house keepers accommodation.

BEDFORDVIEW R12.5 million

BEDROOMS: 4 BATHROOMS: 4 Sofie Collaro 084 999 1996 | 011 622 1820 Web Ref: 99200

KWA-ZULU NATAL IDEALLY LOCATED This architect designed home is ideally located in the heart of this small exclusive estate where security is viewed as top priority. Open plan living and kitchen areas flow out onto spacious covered veranda and pool. 4 bedrooms, 3 bathrooms, study nook, double lock-up garage and domestic accommodation. Rated as one of Ballito's best addresses.

BEDROOMS: 4 BATHROOMS: 3 Leonie Landman 083 229 3842 | 032 946 3046 Web Ref: 94060

PORT ZIMBALI R5.3 million

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