Business Day Home Front 07 November 2014 by The Creative Group

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FRIDAY, NOVEMBER 7, 2014

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UNMISSABLE END-OF-YEAR SHINDIG GEMS

DURBAN’S IRT PLANS ON THE MOVE

CAPE TOWN PROPERTY EVER UNFAZED

LOCAL HOLIDAY HOME MARKET HOLDS ITS OWN

Off-plan buying – an app-solute revolution There’s a technological shake-up happening in the off-plan space WORDS: DAVID A STEYNBERG :: PHOTOGRAPH: BLOK

‘We have supplemented this experience by dropping in photorealistic renders into the walk-through so that certain features can be viewed in as close to real as possible’ Jacques van Embden, MD and co-founder, Blok

hat do architects, developers, 3-D-modelling specialists, gaming developers, design agencies and specialist user-experience professionals have in common? Access to technology that can transform the off-plan property sales process, that’s what.

CONTINUED ON PAGE 6

INTRIGUING Some homes arouse curiosity. A sense of wonder overcomes one to know what lies beyond lit doors and windows. It captivates with its fascinating and compelling qualities and draws you into a world that is at once vibrant and comforting.

SEARCH FOR YOUR OWN “INTRIGUING” AT sothebysrealty.co.za

Each office is independently owned and operated

PUBLIC ART (TO BE FILLED IN BY Bday) November 7 2014

Writing on the wall

LIFESTYLE

Going public In a country where many thousands have perished and regimes have changed over contested areas, SA’s public art discourse offers special insight into how far we have come WORDS: GENEVIEVE PUTTER :: PHOTOGRAPHS: GENEVIEVE PUTTER AND SUPPLIED

Although the distinction between street and public art has become blurred, the main difference is that street art is more rebellious by nature, having been created without permission, whereas public art has been and often is funded by the government or business. By 2040 Johannesburg is aiming to be the biggest street art city in the world — unsurprising, if you consider that it is one of the fastest-growing metropolises. The cataloguing process of Cape Town’s public art revealed that there are 120 pieces of permanent art, 190 mural art pieces and 270 pieces of temporary art. William Kentridge and Gerhard Marx’s Fire Walker sculpture in Newtown had a budget of R1m.

or the cities of Johannesburg and Cape Town, investment in public art has never been more relevant. Why, you may ask, when both cities have more pressing socioeconomic problems? The answer is that in these cosmopolitan postapartheid cities, public art is a means of establishing some kind of social cohesion and shared identity where before there was none. Public art enables us to reflect on our fraught history, provides a sense of pride in our public spaces and beautifies them and, importantly, assists in urban regeneration.

‘On an artistic level for the inner-city communities, it is incredibly valuable’ Jo Buitendach, founder, Past Experiences

The most expensive piece of public art in Cape Town is a section of the Berlin Wall, donated to Nelson Mandela and placed unassumingly in St George’s Mall.

Johannesburg Johannesburg’s sprawling catalogue of public art includes about 500 pieces set all around the city, from Braamfontein to Soweto, including works by prominent South African artists such as William Kentridge and Nicholas Hlobo. The city’s approach is progressive and well organised, thanks in most part to the Public Art Policy of 2006, which stipulates that 1% of the construction budget of all major city building projects of R10m or more must be devoted to public art. These funds are used to ensure that a public work of art is realised from start to finish and is correctly maintained. Driving this policy is the Johannesburg Development Agency (JDA), an entity of the City of Johannesburg formed to efficiently and innovatively manage and facilitate developments, with the overall aim being to build an impartial, sustainable and resilient city. According to the agency’s marketing manager, Susan Montanyi, the JDA has, since its establishment 13 years ago, invested R7bn in projects that promote urban regeneration, of which public art is a major facilitator. This portfolio includes large-scale landmarks to mid-scale and smaller works, mainly in parks and squares, as well as functional art. The value of the city’s public art has not been officially calculated, but considering the prolific pieces by William Kentridge

and Gerhard Marx, Nicholas Hlobo and Marco Cianfanelli, among many others, it is quite a high number. Jo Buitendach of Past Experiences, a tour company specialising in walking tours with a focus street and graffiti art, says that the more important question to ask is, what is the social value of

the city’s public art portfolio? “On an artistic level for the inner-city communities, it is incredibly valuable, as many poorer children would have no interaction with art if not for public art. “It is also incredibly valuable as a source of colour and regeneration for the CBD and Soweto.”

To honour Cape Town’s legacy as World Design Capital 2014, the local government put out a call for submissions for a piece of public art to the value of R100,000 outside the newly renovated legislature at the corner of Dorp and Long streets in the CBD. The winner from among the 77 entries will be announced later this month.

Public Art (TO BE FILLED IN BY Bday) November 7 2014

On graffiti

Cape Town

JOHANNESBURG The City of Johannesburg is vigilant against unsolicited street art, especially those on Heritage buildings or landmarks. It is generally accepted that street artists need permission from building owners in order to create work. The public art portfolio does, however, allow for commissions of mural art, and in the past few years, particularly in Braamfontein and Maboneng, some prolific local and international artists have created exceptional works that add a beautiful layer of aestheticism to Johannesburg’s cityscape. Most recently, a large mural titled The Purple Shall Govern, depicting former president Nelson Mandela, was created by the internationally acclaimed American artist Shephard Fairey at 70 Juta Street.

The best way to view public art in the Mother City is undoubtedly on foot: the inner city, where the bulk of the art resides, is compact and easily accessible. The city’s public artworks are close to each other and read like a history book. Among the statues and figures of Jan van Riebeeck, Queen Victoria, Jan Smuts and Cecil John Rhodes, who represent some of the darker periods of our history, there are some aweinspiring, vibrant murals by Capetonian collectives and world-renowned street artists Faith47, Falko and Mak1. Included are more permanent works by prolific artists such as Brett Murray and John Skotnes. Cape Town’s public art portfolio is managed solely by the department of arts and culture of Cape Town, and as Garreth Bloor — mayoral committee member for tourism, events and economic development — says, the number of permits issued for public art installations

CAPE TOWN Cape Town’s graffiti bylaw has been the topic of much debate among the city’s residents and the wellrespected crop of artists whose murals fall within its domain. That Cape Town has been, since before the demise of apartheid, the city in SA with the most entrenched hip-hop culture, of which graffiti is a pillar, is why the bylaw has been such a hotly contested issue since its introduction in 2010. But as councillor Garreth Bloor says: “The various murals around the city are recognised as a valuable form of public art and are supported throughout the city, within the parameters of the bylaw.”

has increased from about one a month in 2011 to an average of five a week. The city’s portfolio is growing rapidly and last year WikiAfrica, the Africa Centre and the city’s department of arts and culture began cataloguing all the city’s public artwork. Their aim is to initiate the development of an official policy for public art in Cape Town — the Public Art Management Framework. This is being reviewed for implementation by the end of this month. But the city is also committed to public art initiated by artists from outside the inner city, including artists from the local communities of Observatory and Langa. The latter is home to the Icons of Langa Mural Project, a collaborative project designed to beautify and upgrade the cultural node in the township. According to Kirsten Wilkins, a freelance urban designer who assisted with the cataloguing process

of the city’s public art, one of the worthwhile outcomes of the process was “spatially mapping the location of these works, which opened up the question of where investment in art is taking place. “We knew it was predominantly in the inner city, but seeing that spatially has certainly elicited good debate on how public art and public space could be focused on more broadly.”

The city is also committed to public art initiated by artists from outside the inner city, including artists from the local communities of Observatory and Langa

There are some aweinspiring, vibrant murals by Capetonian collectives and world-renowned street artists Faith47, Falko and Mak1

PUBLISHED BY THE CREATIVE GROUP IN ASSOCIATION WITH BDFM

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

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BusinessDay PUBLICATION

Editorial Consultant: Bridget McNulty Chief Copy Editor: Yaron Blecher

ADVERTISING SALES Michèle Jones Sarah Steadman Yvonne Botha Susan Erwee Bradley Sparks Jackie Maritz

michele.jones@pamedia.co.za sarah.steadman@pamedia.co.za yvonne.botha@pamedia.co.za susan.erwee@pamedia.co.za bradley.sparks@pamedia.co.za jackie.maritz@pamedia.co.za

084 246 8105 (Sales & Marketing Manager) 082 334 4367 JHB (Property) 082 563 6685 JHB (Lifestyle) 083 556 9848 (Western Cape) 073 666 3842 (KwaZulu-Natal) 078 133 5211 (Garden Route)

LOCAL NEWS November 7, 2014

‘Our walkthroughs are real-time, and allow users to experience an apartment in exactly the way they want to, walking to every corner, seeing the view from every room and window’

CONTINUED FROM PAGE 1

Jacques van Embden, MD and co-founder, Blok

Off-plan buying with virtual walk-through Blok, a property developer specialising in the Cape’s Atlantic Seaboard, at the end of last month announced a game-changer in the offplan home-buying market. Referred to simply as the Blok app, the innovation takes two-dimensional floor plans and converts them into three-dimensional tours of the company’s developments. More than a fancy-sounding walk-through video, the app — developed by Capebased agency Formula D Interactive — puts the control of the experience in the user’s hands. “Virtual walk-throughs are ‘manicured’ in the sense that the user has no control over the experience. Like watching a video, the user is subjected to the experience as planned and executed by the director of that video,” says Jacques van Embden, MD and cofounder of Blok. “Our walk-throughs are real-time, and allow users to experience an apartment in exactly the way they want to, walking to every corner, seeing the view from every room and window.”

Neither Van Embden nor Formula D’s managing director, Marco Rosa, are aware of anything equal to the app, locally or internationally. “It is different because it is about more than just a walk-through. It is about giving potential customers a taste of the urban lifestyle that the development will afford them,” says Rosa. “It encompasses more than just the flats themselves, by allowing users to explore the surrounding vicinity and its amenities in an engaging way.” Blok recognised a gap in the market, where it is taken for granted that many buyers of off-plan developments battle to make head or tail of the architectural drawings. While the technology holds the key to the way we buy off-plan in the future, one disappointment of the app is that its level of detail is still lacking. “Owing to processing speeds and capabilities, we are somewhat bound to a more simplistic version of a walk-through in terms

of detailing and realism,” says Van Embden. “We have supplemented this experience by dropping in photorealistic renders into the walk-through so that certain features can be viewed in as close to real as possible. “We have also linked additional information about our design aesthetic and finishes into the walk-through.” But just how true are the dimensions in the app environment to the real thing? According to Rosa, they are 100% accurate.

Van Embden says this is possible thanks to taking the floor plans directly from the architects’ software. “The ratios and spatial dimensions are very accurate,” he says. “We even have the lighting positions in the ceilings.” And what about the views from the balconies and the windows? How were the perspectives made true to life? “We had 360-degree panorama photos taken around the building,” says Rosa. “Those images were stitched together and then

placed into the virtual 3-D ‘dome’ environment that surrounds the building. “The heights are not a 100% accurate representation of the specific views from all the apartments, because that is extremely difficult to achieve. We are, however, making improvements on that with each new development. Part of those improvements is being achieved through the use of drones to take pictures from all over the sites at very specific and predefined heights.”

‘We had 360-degree panorama photos taken around the existing building. Those images were stitched together and then placed into the virtual 3-D “dome” environment that surrounds the building’ Marco Rosa, MD, Formula D Interactive

Living large I put my back into it. I bent my knees, tensed the appropriate muscles, took a deep breath and lifted with all my might — and then I did a backflip worthy of a 10, for the box was empty and weightless

s maxims go, Parkinson’s law is one of the most flexible, which pun will become apparent shortly. In its original form the law states: “Work expands so as to fill the time available for its completion,” which all of you reading this at work — or at home with a shelf that needs putting up — will know all too well. As with many laws created by humans and thus far from immutable, it has many corollaries, including: “If you wait until the last minute, it only takes a minute to do,” which I think you will agree applies to the scenarios just cited.

While the app was developed specifically for Blok and will be freely available from the Apple Store, it is not compatible with just any set of architectural drawings. “The app is under the intellectual property ownership of Blok. While we may look to license this as a white-label product to other property developers in future, this is yet to be determined by both parties. However, we are very excited the app’s growth potential,” says Embden.

WORDS: KATY CHANCE

However, it is this third corollary I find intriguing: “Storage requirements will increase to meet storage capacity.” Actually, the reverse is true of the home and its various outbuildings: “Storage capacity cannot hope to keep up with storage requirements.” Put simply, we all own too much junk. A friend in Hout Bay who has a fine and sprawling home has a voluminous double garage in which to keep two voluminous SUVs. But the garage can no longer accommodate both vehicles, so one is parked outside, for inside the garage its place has been filled with between two

and four motorbikes. Bikes mean helmets and boots, and thus shelving and boxes. More disconcerting are the full-body leathers serious bikers need to wear. They are hung in the garage too. They are creepy, especially at night when you have had a bit to drink and forgotten they are there: suddenly you are in a scene from the Texas Chainsaw Massacre, with the life-sized “body skins” — remnants of Ed Gein’s killing spree — gently waving from the rafters. The garage capacity did not, as Parkinson would have us believe, obligingly increase to accommodate the new requirements.

So it is with storerooms. I had reason to go into mine recently and was met by a wall of enormous packing boxes. This is going to take a long time to clear out, I thought; so I put my back into it. I bent my knees, tensed the appropriate muscles, took a deep breath and lifted with all my might — and then I did a backflip worthy of a 10, even from the Ukrainian judge, for the box was empty and weightless; it fairly flew out of my hands and back over my head. It turns out that all the boxes were empty. Who does that — carefully stores empty storage boxes in an otherwise empty storeroom?

A moron, that’s who. Or Dave, as I prefer to call him. Before long I had tossed the empty boxes aside and in their space-filling stead was, indeed, increased storage capacity in the form of, you know, space. My quandary now is, what can I store in all the newly created space? For a lesserknown Parkinson’s corollary states: “Women (and men called Dave) are incapable of having a space in their lives without filling it with something unimportant and unused that will and must stay with them until the grave.” Perhaps there’s a pre-owned coffin sale on somewhere…

LIFESTYLE (TO BE FILLED IN BY Bday) November Bday) Friday November 7, 20147 2014

A bash to blow company cash

Tired of the same old office party venues? Here are a few ideas to freshen up the annual work do WORDS: GRAHAM WOOD : : PHOTOGRAPHS: ROVOS RAIL, ISTOCK

part from being a reassuring signal to employees that the company is not going bust, the annual end-of-year office bash gives the staff an opportunity to reconnect and rekindle bonds as spirits flag towards the end of the year. The problem is, if the mood is wrong, there’s the risk of everyone becoming bored and cynical — or just drunk and inappropriate — and the whole exercise becomes a chore rather than the festive sendoff it is meant to be. If you are planning to venture off the office car park, you might want to seek out a venue a little less ordinary — a place that gives you more bang for your buck. Urban rooftop venues are no longer the secret preserve of a few windblown in-theknow hipsters. There are plenty that come with class, comfort and originality. One is the show-stopping Randlords (www.randlords.co.za)

on top of Braamfontein’s tallest building, with its jawdropping décor and views. Another is the rooftop at Kramerville’s 03 Desmond (www.03desmond.co.za/ rooftop-venue). Also in Braamfontein, Shine Studios (www. shinestudios.co.za) comprises a number of studios for television, film and photoshoots, which also double as events venues. The Glass Room in particular, with its panoramic views over the railway and the city beyond, is spectacular, day or night. If you really want something a little different, The Beach (www. playbraamfontein.co.za/ the-beach) in Braamfontein is unexpected and delightful. It is a beach on an urban rooftop — complete with beach umbrellas and deckchairs. (It is open to the public on Saturdays between midday and 7pm too).

Speaking of which, Play Braamfontein rents out the Alexander Theatre (www.thealex.co.za), which has a host of venues, from its own rooftop to a theatre bar and stage. Cape Town’s Fugard Theatre (www.thefugard.com/ about-the-fugard-theatre/ hire-the-fugard) can also

add a bit of drama, with its rooftop and impressive bar. You could, however, take it further afield and charter a train. It doesn’t have to be the Blue Train — although it could be (www.bluetrain. co.za/charters-conferences). Rovos Rail (www.rovos.com), which can be chartered for corporate events too. There are a number of beautiful trains around the country that can be hired for events on the move: Umgeni Steam Railway (www.umgenisteamrailway. co.za/Functions.php), which runs between Kloof Station outside Durban and Inchanga Station; Reefsteamers (www.reefsteamers.com/ Train%20Hire.html) between Johannesburg and Magaliesburg; and Friends of the Rail (www. friendsoftherail.com) which usually runs between Pretoria and Cullinan. Some even arrange special trips and destinations on request. For those at the seaside, a boat charter might put some wind in everyone’s sails. In Cape Town the Waterfront Boat Company (www.waterfrontcharters. co.za) and, for a somewhat more themed approach, the Jolly Roger Pirate Boat (www.pirateboat.co.za) are both floating event venues. Sticking with the nautical theme, the Two Oceans Aquarium (www.aquarium. co.za) in Cape Town has various venues for hire.

A boat charter might put some wind in everyone’s sails

ADVERTISING FEATURE Friday, November 7, 2014

Durban investment booms Durban is replete with development, as an exclusive group of investors recently discovered

HE City of Durban and its surrounds have for the past few years been undergoing a significant transformation, presenting businesses and investors — local and foreign — with many cherrypicked opportunities. The Exclusive Durban Investment & Business Roadshow in September demonstrated to a select group of private and institutional investors the region’s many prospects for investment and funding.

Cornubia The multibillion-rand Cornubia project, a mixeduse, mixed-income development, looks set to alter the skyline of Umhlanga. Cornubia is the site of the next major industrial area in the north, with about 80ha coming on stream in 2014. “Phase 1 was launched in early 2012 and the industrial phase is almost sold out,” says Karen Petersen, director at Tongaat Hulett Developments. “The first phase of subsidised

housing is complete, with almost all the units occupied. Earthworks are being prepared for the second phase of the housing, and construction is planned for 2015. “Cornubia Retail Park (Investec Shopping Centre) is progressing well and is on schedule to open in 2017. The balance of the retail park — Cornubia Business Hub — is also sold out. “The environmental impact assessment for Cornubia phase 2 is progressing

well, and authorisation is expected before mid2015,” Petersen says. The areas for a higher-end residential development have not yet been released and are waiting on development rights. However, the demand for housing, especially in the gap/affordable market, exceeds supply, says Petersen. “Cornubia will make provision for several thousand affordable housing units,” she says. The housing component has been named the Best National Priority Project in 2014. “The success of the project is largely driven by the good working relationship between Tongaat Hulett Developments and eThekwini municipality, who share a common vision and a desire to implement a fully integrated human settlement,” says Petersen. Bulk infrastructure remains a challenge, but good progress has been made in the delivery of bulk services, particularly roads.

ADVERTISING FEATURE Friday, November 7, 2014

Dube TradePort As the newest industrial development zone (IDZ) in SA, Dube TradePort will have a strong focus on low-weight, high-value products in several sectors, including aerospace and aviation-linked manufacturing; agriculture and agri-processing; electronics manufacturing and assembly; medical and pharmaceutical production and distribution; and clothing and textiles. Its strategic location — incorporating King Shaka International Airport on the north coast, between Durban (the busiest seaport in Africa) and Richards Bay — is ideal. This, together with the area’s comprehensive road and rail infrastructure, makes Dube TradePort a multimodal logistics hub that gives organisations based within the IDZ seamless and efficient access to local, regional and global markets. Being an IDZ, it presents investors with a number of customs-controlled areas (CCAs), thus qualifying them for relief from customs duties at the time of import. It also allows for simplified customs procedures as well as fiscal incentives on goods imported for storage in and export from the CCA, and any other services rendered to a CCA-based enterprise. “In less than 24 months Dube TradeZone has been

transformed from serviced stands to a 26ha construction site,” says Dube TradePort Corporation CEO Saxen van Coller. “Dube City, meanwhile, has done phenomenally well, having successfully attracted a number of anchor tenants who now occupy the premises in the 29-Degree South building. “Work is also under way on its first private sector investment for a large office development, which will be officially announced in the coming weeks.” King Shaka International Airport’s prime location within Dube TradePort is key to the precinct delivering on its promise to become southern Africa’s premier

air logistics platform, and to connect businesses to global supply chains seamlessly and efficiently, thereby creating a conducive business environment. The airport city management’s intention is to attract and accommodate businesses that have timecritical requirements in their operations, in line with global trends. “Planning an aerotropolis will ensure appropriate allocation of land uses, an efficient transport system that enables quick and effective movement of goods and people, and that have minimal impact on the environment,” says Van Coller. “This will assist in attracting investment and creating jobs in the city.”

Early economic studies shows that the DDOP will make the following positive impact: An increase of R16.5bn a year in national GDP (averaged over

30 years)

An increase of R11.3bn a year in KZN’s GDP (averaged over 30 years) The creation of about 64,000 jobs during the construction phase The creation of about

28,000 jobs

when operating at full capacity

Income of R1.6bn a year

for low-income households

Cost savings of R2.3bn a year, thanks to logistics efficiencies

Durban dig-out port The Durban dig-out port (DDOP) presents the opportunity to build a new port from scratch, to meet future demand, by using the latest knowledge and expertise to develop an environmentally sound state-of-the-art facility. “The Port of Durban simply cannot provide for future container-volume demand, projected to exceed 10-million 20-foot equivalent units (TEU) a year by 2040,” says Marc Descoins, programme director of the DDOP at Transnet. “The DDOP will be a deep-water harbour capable of accommodating new-generation ships that are longer, wider and deeper than their predecessors. The latest-generation container ships can carry up to 18,000 TEU, and typically have draughts up to 15.5m. About 24,000 TEU container ships are on the drawing board.” The DDOP is closing out the project planning phase known as the Front-end Loading (FEL) 2 (pre-feasibility) study. The key milestones achieved since its inception include: the transfer of Durban International Airport (DIA) to Transnet in October 2012; the completion of FEL 1 (concept design) port engineering, with 20 layout options investigated; the undertaking of landside geotechnical investigations (82 boreholes); the completion of hydrographic surveys to ascertain seabed configuration; the completion of meteorological and oceanographic investigations of currents and wind data (four offshore buoys); a biodiversity

due diligence study for the DIA site; conducting a strategic environmental assessment; assessing the groundwater of the original DIA site; putting in place planning structures for rail capacity with eThekwini and Sanral; initiating ongoing community engagement; FEL 2 port engineering’s identification of the preferred port design option; and carrying out a sounding exercise in the international market, which revealed a strong appetite for private sector funding. No fatal flaws have been identified. Says Descoins: “Transnet operates a complementary port system across its eight commercial ports. The DDOP will complement the Port of Durban by providing the muchneeded additional deep-water berths container capacity.”

‘The existing Port of Durban simply cannot provide for future container volume demand, projected to exceed 10-million 20-foot equivalent units (TEU) a year by 2040’ Marc Descoins, programme director, Durban dig-out port, Transnet

KwaMnyandu town centre development

GET IN ON THE ACTION Potential investors and interested parties wishing to attend future investor roadshows (TBC) need to e-mail James Arnott at james@arnottconsulting.co.za or call 083 625 8078 to register their interest. For further information on projects available for investment, visit the project listing portal at www.kwazuluinvestor.co.za.

With the catchment population of KwaMnyandu, considered in relation to that of Umlazi, estimated at 132,000 households, and a primary catchment (3km radius) of 42,000 households, the node is ripe for further development. Prior to the construction of the 23,000m2 gross lettable area (GLA) KwaMnyandu Shopping Centre, the node was made up of a sports precinct, including the King Zwelithini Stadium, and intermodal facilities such as the KwaMnyandu train station and supporting taxi ranks. “This train station was the second busiest in the south after Umlazi railway station, with 20,000 commuters a day,” says Vuyolwethu Jayiya, project manager at eThekwini municipality. “This number has grown

considerably since the advent of the shopping mall.” According to Jayiya, the mall has been a catalyst for growth in the town. “The mall has demonstrated private sector confidence in Umlazi, as it is the first major development in the heart of the township,” he says. “Most of the significant developments have happened at either the entrance or the edge of the township. Since the shopping centre was built, there has been a demonstrable appetite for the remaining 177,000m2 of GLA for high-density residential, commercial offices and private hospital development. More people from the surrounding rural areas are coming to Umlazi for services and leisure.” The KwaMnyandu node is located along the Griffiths

Mxenge (M30) Highway in Umlazi township, 30km south of the Durban CBD. A mixed-use development precinct, it has unlocked public-private investment through the redevelopment of the sports precinct and upgrades to KwaMnyandu railway station. “The node has received more than R500m worth of investment from the National Treasury, the Passenger Rail Agency of SA, eThekwini municipality and the private sector,” says Jayiya. He says that phase 2 of the KwaMnyandu town centre development will include the construction of high-density housing units, a pedestrian bridge over the M30 highway, a taxi rank and the release of commercial sites for office buildings and light industrial plants.

INVESTMENT November 7 2014

Is GO!Durban on the right track? Dreams apparently do come true. The first phase of GO!Durban, eThekwini’s integrated rapid public transport network, is under way and the first corridor is due to be operational by 2016. What does it mean for Durban? WORDS: ANNE SHAUFFER :: PHOTOS: GO!DURBAN

Disruptions and delivery concerns aside, there’s a great sense of being on the cusp of something positive and enabling in the city

t took 20 years for the Brazilian city of Curitiba to achieve something remarkable: a bus system so efficient that traffic decreased by 30% while the population trebled. Curitiba is the global reference for similar bus rapid transit (BRT) systems around the world, and this model has played a key role in Durban’s planning of its integrated rapid public transport network (IRPTN). The IRPTN is about not only a bus system, but also the restructuring and integration of various modes of transport, all of them working hand in hand. There will be a seamless transfer from one mode of transport to the next, and one ticketing system across the different modes. Seventy thousand couponfree Muvo debit smart cards have been phased in over the past two years and form the payment method for public transport. Muvo cards will be integral to the GO!Durban transport payment scheme. GO!Durban is the biggest infrastructural project ever undertaken by the city: R22bn over 13 years. The system will combine existing and new rail systems, a new BRT using a segregated right-of-way infrastructure, minibuses and nonmotorised transport (NMT) systems. GO!Durban’s plan will involve not only an upgrade of the bus fleets, facilities, stops and stations, but also a comprehensive

skills development programme targeting all existing industry employees affected by the GO!Durban project. The aim is to provide professional skills training for all public transport drivers. The IRPTN is centred on sustainability. The network has multiple aims, including a reduced reliance on cars. Bus stations will be set up citywide, within walking distance of main nodes, while trains will provide a more convenient option for long-distance travelling. Many stations will be supported by the NMT system via cycling lanes and designated pedestrian walkways. Thami Manyathi heads up the eThekwini Transport Authority (ETA). He says: “The success of the IRPTN does not just revolve around our transport unit — it’s more complex, and involves numerous others. For example, we cannot continue to place poor people far away from job opportunities. The housing team needs to locate housing close to public transport. We need to create areas where houses, transport, economic activities, social activities, art and so forth are in an accessible, attractive environment.” Go!Durban is being developed around nine main transport corridors linked by various modes of transport that feed into key nodes of the city. The entire project should be fully operational

INVESTMENT November 7 2014

by 2027, with the deadlines for the first four corridors set for the years 2016 to 2018. The 2016 deadline for the first corridor — part of phase 1 — is “carved in stone”, says Manyathi. The project follows extensive surveys to determine travel patterns across the city, and the first corridor — the northern one — has been identified as having seen the biggest increase in traffic volumes and congestion. Between 2004 and 2013, traffic volumes on the M41 in Umhlanga increased from 13.9% to 80.3%; therefore, the development of the C3 corridor from Bridge City, KwaMashu, to the Pinetown CBD is has been made the first phase of the project. Seventy-one articulated buses will have right of way directly along this corridor. Well-managed, free-flowing urban public transport is the cornerstone of economic growth. The IRPTN will also offer empowerment opportunities for legal minibus and small-bus operators. Legal transport operators whose routes are affected by GO!Durban in each subphase will be given the option of being included in vehicleoperating companies. The city will then enter into a contract to operate these services. Critical to the IRPTN is the integration of the taxi industry. The National Household Travel Survey indicates that the industry conveys about 65% of commuters, employs about 680,000 people in various sectors and contributes about R30bn to SA’s GDP. In February this year, a memorandum of agreement was signed with representatives of the minibus taxi operators who might be affected by phase 1, but the talks were difficult and are likely to be just as complex in future. There is a breakaway

group leading a taxi strike in Durban, which suggests that a long road of talks lies ahead. It is hoped that safe, affordable, good-quality, scheduled and easily accessible public transport will unlock a number employment, retail and commercial opportunities. “Developers are happy,” says Manyathi. “They stand to gain a great deal. They can align their plans accordingly to capitalise on the expected transport system. Some have even amended developments to incorporate stations, and fund them as well. Gateway is a case in point, and there are others.” There are calls, in some quarters, for the privatisation of elements of the IRPTN. The eThekwini council has an unhappy record of public transport, the bus debacle being one example. Manyathi disagrees. “There will be significant private and private-public partnerships. After the planning, project management and roll-out is effected by the team, the bulk of the project, as well as the operation of the service, will largely be in private hands.” A reduction in the use of private vehicles in favour of other forms of transport largely hinges on commuters’ ideas of personal safety. Manyathi makes it clear that security is very important. To this end, the IRPTN will

‘For us to succeed, it is going to take collaboration between the public and private sector’ Thami Manyathi, eThekwini Transport Authority (ETA)

include CCTV cameras in the station and in the vehicles; well-lit spaces; and, possibly, a partnership with the SAPS, whereby the police will be able to monitor and respond to crimes immediately. Businesses’ and commuters’ frustration about traffic disruptions in the corridor under construction is understandable but, realistically, unavoidable. There is constant communication from the city to the public on social media and other platforms, including meetings, such as the one scheduled to take place in Pinetown soon. There is no doubt that once the corridor is complete it will yield significant benefits for both existing and new businesses around the train stations. Similarly for real estate positioned around them. Says Manyathi: “We’re very excited about this, but for us to succeed, it is going to take collaboration between the public and private sectors in the form of joint ventures. If the community doesn’t come together to take ownership of this project, take pride in it and look after it, we are going to experience some of the problems we see in other areas, with public infrastructure being vandalised and so on.” Disruptions and delivery concerns aside, few argue against a real sense of being on the cusp of something positive and enabling in the city. Key elements of the IRPTN are already in place: dedicated public transport lanes, the ticketing system, and the growing network of cycle lanes and pedestrian walking routes. The goal is to service up to 85% of all Durban’s residents by 2030. Add tourists to the mix, and this can only spell increased prosperity for the city.

The IRPTN is about not only a bus system, but also the restructuring and integration of various modes of transport, all of them working hand in hand

Tongaat

Airport

C8 Bridge City

Hillcrest

C8 C3

Umhlanga

C6 Mpumalanga

C6 Pinetown

GO!Durban route

C7 Merebank

Residential Chatsworth

Park and ride Transfer station

CBD

Business

Mixed

Warwick

Umlazi

Rossburgh

Prospecton

ADVERTISING FEATURE November 7, 2014

Sandton Skye In the heart of Sandton’s financial district, a new concept in urban living is paving the way to the future of business and lifestyle in the city WORDS : GRAHAM WOOD :: PHOTOGRAPHS: SUPPLIED

The concept of the urban resort is what truly sets Sandton Skye apart

he first of Sandton Skye’s three towers is complete and ready for occupation. As the newest addition to Sandton’s skyline, the R1.5bn urban resort-living concept not only adds a landmark to the heart of Sandton’s financial district — SA’s richest square mile — but also pioneers a modern urban lifestyle. With their cuttingedge architectural design, Sandton Skye’s three 15-storey towers will each contain about 180 apartments, including one-bedroom, two-bedroom and three-bedroom designer units, penthouses and presidential suites. The concept of the urban resort, however, is what truly sets Sandton Skye apart. It is something you notice from the moment you set foot in the first tower’s magnificent

reception area, with its front desk and concierge. Sandton Skye answers all the needs of the modern business person or urbanite, extending beyond the walls of each apartment to include a bouquet of services. As well as providing concierge, laundry, housekeeping, room and car valet services, Sandton Skye includes a business centre with executive conference facilities, a spa and fitness centre, an outdoor rim-flow pool in the garden and a kids’ zone. Entertainment includes dining at The Codfather Sandton Skye, which incorporates a chef’s table and a cellar restaurant with 5,000 to 6,000 wine labels. There is also a casual New York-style deli, a cocktail bar, a champagneand-oyster bar, a tapas bar and a sushi bar — all falling

under the auspices of The Codfather. “It’s like five-star living in your own home,” says Lynn Petzer of Lynn Estates, the agency responsible for marketing the development. “As a new concept in urban living, Sandton Skye is going to be the place in Sandton for business, entertaining and living an ideal, sophisticated urban life.” Lynn Estates’ portfolio includes several of Sandton’s landmark developments, such as the Michelangelo Towers, the Raphael Penthouse Suites and Sandhurst Towers. Units in Sandton Skye are available to rent from R14,900 a month fully furnished and for sale from R1.695m. Petzer says that the first tower’s outdoor areas include a rim-flow pool, a covered terrace and

ADVERTISING FEATURE November 7, 2014

CONTACT:

Lynn Estates 083 655 5539 / 011 884 3103 E-mail: info@lynnestates.co.za Website: www.lynnestates.co.za

SANDTON SKYE TOWER 1 192 designer apartments, including: One-bedroom corner presidential apartments Two-bedroom corner presidential apartments Two-bedroom designer apartments Three-bedroom luxury apartments with panoramic views Presidential penthouse suites Five-star lifestyle features: Dedicated font desk with concierge Five restaurants — The Codfather

gardens, and that when all three towers are complete, there will also be extensive gardens as well as indoor and outdoor pools with decks and chaise longues. “There is nowhere in Sandton with green space like this,” Petzer says. “Sandton Skye will have an acre of green space when all three towers are done.” Sandton Skye is ideal for residents, for business travellers in need of a base in the city and for investors. Sandton Skye is being developed by CRI Eagle — a joint venture between the developer of Eagle Canyon Golf Estate and a subsidiary of the Fortune Global 500 company, China Railway Group. Lynn Estates welcomes enquiries and preregistration for units in the second tower, which will be launched in 2015.

Sandton Skye (with cellar table and chef’s table), sushi bar, champagne-and-oyster bar, tapas bar and deli 24-hour room service Spa and fitness centre Outdoor rim-flow pool with chaise longues in a garden setting Business centre with conference facilities, executive meeting rooms and executive personal assistant Laundry and housekeeping services Kids’ zone Internet

Superior interior design and services: Fully furnished apartments with interiors by Jayd Designs are available for rent from R14,900 a month. Jayd Designs, a subsidiary of Lynn Estates, has brought together the essence of interior design at Sandton Skye: aesthetics, comfort, convenience and practicality. Jayd Designs identifies with your lifestyle needs and your desire to add the ultimate value to your investment. Bconnect offers services at your fingertips, from a full concierge service to housekeeping.

‘It’s like five-star living in your own home’ Lynn Petzer, Lynn Estates

Units at Sandton Skye are available to rent from R14,900 a month fully furnished and for sale from R1.695m

PROPERTY November 7 2014

Southern Suburbs still sweet Property in Cape Town’s Southern Suburbs rarely drops below the R2m mark, but with top schools, efficient public transport and a host of amenities it’s easy to see why WORDS: GRAHAM BARLOW :: PHOTOGRAPHS: PGP

here is a cliché which is bandied about when agents put plots up for sale, where the less-thansubtle message is effectively: “Buy land now; they aren’t making any more of it.” While this chestnut may on occasion elicit winces from potential land purchasers, there is one area of Cape Town where it ceases to be a

cliché and becomes a reality: the Southern Suburbs. The Southern Suburbs stretch in a narrow band of land southeast of Table Mountain — very roughly speaking from Mowbray through to Lakeside — and it is the mountain that forms a barrier to further development on the western border.

Guarded by legislation and common sense, available land on the slopes of the mountain has long been spoken for and developed. When Table Mountain National Park was formed in 1998, its borders were effectively and immutably redrawn to eliminate further commercial loss to encroaching properties.

The barrier to growth on the other borders of the Southern Suburbs is less defined, but it is effectively a commercial division where the more affluent suburbs run headlong into higher-density housing, notably on the approaches to the Cape Flats. Industrial areas such as Maitland close off the remaining avenues of development. Since the earliest settlements of wealthy farmers on the banks of the Liesbeek River in the 17th century, the Southern Suburbs have enjoyed a reputation for upper-class living, and this perception has been responsible for ensuring good infrastructure in the area. The transport system is singular within a southern African context, with an effective commuter train still running directly through the bulk of the suburbs. The area has some of SA’s top schools. A few square kilometres in the Rondebosch vicinity includes, all within walking distance of each other are, Bishops College and high schools Rondebosch Boys’, Rustenburg Girls’, Sacs Boys’, Groote Schuur, Westerford High, Herzlia Girls’ and Sans Souci Girls’. Healthcare is markedly above average when compared with other cities, including a world-class children’s hospital and Groote Schuur Hospital in Rondebosch and Victoria Hospital in Wynberg, and there are highly recommended private hospitals in Claremont and Constantiaberg.

Though they are occasionally subject to slightly malleable borders between individual suburbs — Constantia as an address, for example, appears to have overtaken areas of Plumstead, Bergvliet and Diep River — properties in the Southern Suburbs as a whole remain in high demand. With a population of about 150,000 the suburbs private, and with a devolution of business and shopping from the city to areas such as Claremont and Tokai, commuting is less onerous than might be expected. Prices remain competitive but realistic, and younger families are attracted not only by this fact, but also by the supporting infrastructure. “With a proven track record, these soughtafter locations remain sustainable throughout the various property cycles, enjoying a high demand from local purchasers as well as those from around the country,” says Laurie Wener, managing director of Pam Golding Properties Western Cape Metro region. “Southern Suburbs unit sales increased 30% (2,686 v 2,063) and 54% in value from 2008 to 2013.” Contributing to these statistics are properties ranging from the middleincome to the upper ranges of affordability. Property in the Southern Suburbs ranges from some of the most expensive dwellings in the country on the upper reaches of the mountain slopes — according to Pam Golding Properties,

the Southern Suburbs reported 13 sales in the price bracket from R10m to R26m in 2013 — to affordable but comfortable and well-positioned housing in the lower-lying areas. Expect to pay from around the R2m mark upwards. According to Pam Golding Property’s newly launched Residential Property Index, “while value growth in higher-priced properties of more than R3m has slowed down after a notable upturn, these continue to lead the market as they have done since the start of the market upswing back in 2000, reflecting average house price value gains of some 15% year on year”. The growth varies across suburbs, depending on demand — schools play an important part in this. Recently, suburbs with smaller, older properties, such as Observatory and Mowbray, have taken on a new life. Buying and renovating with an aim of onselling in these popular suburbs has rejuvenated the market (if the costs of renovation are excluded, property prices have been inflated the price and will skew the averages when measured over a short period). But across the board, from starter homes in Mowbray to mansions in Constantia, buying in the Southern Suburbs makes sound economic and domestic sense. After all, – they aren’t making any more land there, are they?

‘With a proven track record, these sought-after locations remain sustainable throughout the various property cycles, enjoying a high demand from local purchasers as well as those from around the country’ Laurie Wener, MD Western Cape Metro region, Pam Golding Properties

News (TO BE FILLED IN BY Bday) November 7 2014

African ‘oligarchs’ spend £600m on prime London property

ltra-high net worth purchasers from six African countries spent more than £600m (about R11bn) on luxury property in London’s top residential addresses in the past three years, and their outlay now accounts for 5% of all ultra-prime London residential sales by value, reports Beauchamp Estates. This represents an increase of 2% in the number of London properties owned by African “oligarchs”, the privately owned firm says. The buyers were from Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal. There were 15 key addresses across London where they preferred to buy, the most popular being Mayfair, Belgravia and Knightsbridge. The majority of the buyers (70%) spent between £15m and £25m on their luxury properties, and 10% of them bought mansions for more than £30m. The Nigerians were

PGP launches commercial brokerage

am Golding Properties (PGP) Hyde Park has launched a commercial broking service focusing on the northern suburbs of Johannesburg, including Sandton and surrounds. PGP property agent Wayne Venter will lead the new division. Says Venter: “As far as property is concerned, clients want to have a single point of contact that is trusted, experienced and is able to provide them with complete peace of mind when it comes to their property requirements. “We have noted that mixed-use developments have become increasingly popular and prevalent. PGP’s commercial brokerage will

Octodec pre-merger dividends up by 11.5%

also be perfectly positioned to assist these developers. We are able to meet their every commercial property need, no matter whether it is office, industrial, retail or residential.”

‘We have noted that mixed-use developments have become increasingly popular and prevalent’ Wayne Venter, Pam Golding Properties

the top spenders, buying more than £250m worth of London property. The buyers all wanted a home with parking, as “trophy cars are a passion among wealthy families”, according to the report. Their tastes in interior design are “lavish”, with Harrods, Versace and Fendi homeware the top three favourite brands. In terms of rentals, rich African tenants will spend £10,000 to £15,000 a week on a top London home, Beauchamp Estates says. The main reasons for the African super-rich choosing to buy luxury property in London were given as: the growing wealth of their domestic economies; having cultural and community ties with London; and the desire to provide a good education for their children. Nigerian nationals spend more than £300m a year in Britain on private school fees and tutoring, according to Beauchamp Estates.

WAYNE VENTER, PAM GOLDING PROPERTIES

SE-listed real estate investment trust Octodec’s annual results to August 31 2014 were released at the end of October, marking the final financial report of Octodec prior to its merger with Premium Properties on September 1. Dividends increased by 11.5% to 175.7c a share for the year. Says Octodec managing director, Jeffrey Wapnick: “Octodec’s strong growth in earnings was supported by a number of successful upgrades completed during the year, as well as a proactive approach to letting, which mitigated the impact of tough

trading conditions and the impact of subdued consumer confidence. “The residential portfolio, which represents 25% of the combined gross lettable area, has a low vacancy level, underpinned by stronger demand for well-located, quality accommodation. “Strong demand for CBD retail also continued during the year, supported by renewed interest from major national retailers.” Because of the merger with Premium Properties, Octodec has a portfolio of 320 properties, which are spread across the residential, retail, industrial and office sectors and are valued collectively at about R10.9bn.

‘Strong demand for CBD retail also continued during the year, supported by renewed interest from major national retailers’ Jeffrey Wapnick, managing director, Octodec

INVESTIGATIVE November 7 2014

always the most responsible of tenants. But Ketcher says student accommodation can be a very beneficial investment, so long as one is slightly cautious. Says Ketcher: “I would suggest that one needs to carefully examine the opportunity, as well as the extent of regular maintenance the home needs, because this cost could eat into income. “One of the big complaints about student accommodation is the wear and tear and damage caused during the year of rental; but one can build clauses into a contract which make provision for a review at the end of each year, with guarantees from the parents to cover damage done by the students. “My sense is that there will be an introduction of bylaws which cover and regulate student accommodation, so one needs to be careful about overcrowding, which affects neighbours, as well as noise and late nights.” They also have to pay at least one month’s rental as a deposit, and this can be used to offset the costs, he says. Capital growth is one of the main advantages of owning student accommodation, says Schooling. The drawbacks are the hassle of ownership, sourcing tenants each year, the risk of bad debt and students dropping out of university halfway through the year. However, there are ways around these problems. Says Schooling: “In Stellenbosch, for example, it is often the case that 90% of the rental is due the previous year and the balance by March of the year of occupation. While this is not necessarily achievable at all universities, it does mitigate the risk of non-payment.”

Student digs — hitting paydirt?

What sort of return on investment can you expect on student accommodation? WORDS: TAMMY SUTHERNS :: PHOTOGRAPHS: STAG AFRICAN

roperty companies across SA have noted the critical shortfall in the amount of student housing, and academic institutions have also voiced their concern about the issue. More than 207,000 university students and 400,000 students in further education and training (FET) institutions will be left without adequate housing when the academic year begins in 2015. That is a significant gap in the real estate investment market. Says Angela Church, spokesperson for Walter Sisulu University in Mthatha, Eastern Cape: “Many students are forced to live in appalling conditions that are unsafe, overcrowded, unhygienic and

not conducive to studying. Lack of accommodation is one of our biggest challenges: most of our students come from rural areas and do not have any accommodation options when they arrive here. Our residences are barely able to accommodate 30% of our student population — our ultimate aim is to house 50% of our students.” Pieter Bezuidenhout, an agent at Seeff Pretoria East, says demand for student housing close to the University of Pretoria is outstripping supply by a wide margin. “It is becoming increasingly difficult to obtain student accommodation in the hands of private ownership. New developments abound, but

MILL JUNCTION

units are selling off-plan or are being rented out at astronomical rates. Affordable accommodation is moving further and further away from the Hatfield and Hillcrest areas,” he says.

‘The likelihood of first year students passing is increased from 60% to 80% if they stay in residence’ John Schooling, managing director, STAG African

According to Tony Ketcher, principal of Seeff Randburg, there is demand for student accommodation in sectional title units as far away as Blackheath, Fairland, Cresta and Windsor. Says Ketcher: “These areas are on bus and transport routes to the universities but are still between 10km and 15km away from the campus.” Seeff Randburg deals in student accommodation in the Auckland Park, Westdene and Melville areas, which are adjacent to the University of Johannesburg (UJ) and the University of the Witwatersrand (Wits). The shortfall in student accommodation is directly linked to the high rate of

student failure and the first-year dropout rate at universities around the country, according to John Schooling, managing director of Student Accommodation Group (STAG) African. Says Schooling: “The likelihood of first year students passing is increased from 60% to 80% if they stay in residence. The negative pass rate is even more staggering at previously disadvantaged universities, where it is common for six or more students to share a room, simply because there is no alternative.” UPS AND DOWNS Students do not have the best reputation for paying their rent on time and are not

RENT OR BUY? Depending on the specific university and the price of the property, either renting or buying can be beneficial. In Stellenbosch, says Schooling, a bachelor flat sells for about R880,000. “Assuming an interest rate of 9.5%, the monthly bond repayment over 12 years will be R10,500 and the levy and rates will be about R1,200 a month, giving a total monthly cost of R11,700. In the same market, renting an en-suite room will cost about R4,800 a month. “In other words, buying a flat apartment would add a monthly cost of R6,900 a month. However, the capital appreciation of the unit could be as high as 13% a year, which in year one could amount to R114,400. This would result in a gain of R31,600 a year.” In Bloemfontein, it is not only the University of the Free State that attracts students, but also several other training academies, such as Damelin and CUT, where only about 20% of students can be accommodated in residences.

INVESTIGATIVE November 7 2014

Seeff agent Jané du Preez says the biggest demand is also for one- or two-bedroom flat and townhouses that yield rental returns of between R2,500 and R6,500 month, and that investors should keep their property for at least five years before reinvesting. FORGING A WAY FORWARD Pieter Kloppers, the director of student communities at Stellenbosch University, says that the solution to the crisis in SA’s universities can be found in the provision of well-designed student accommodation. “We are in the process of increasing our capacity to meet the demand for residences. Accommodation for students is more than providing a place to sleep; it’s about creating communities — a listening, learning and living environment. This is crucial to the success of the housing facilities provided by the university,” says Kloppers. Despite the increased funding being allocated to the upgrading or construction of student accommodation at some universities, the rising maintenance costs, ageing residences and other problems have limited the growth options for student housing. Because universities

are facing budgetary cuts by the national government, many of them have prioritised academic and teaching facilities ahead of upgrading or building new university residences. Schooling says optimal architectural design and product innovation can help bring down the cost of developing student accommodation. In the past six years, STAG African has provided more than 1,055

beds to universities, FET colleges and schools across the country, he says. Ketcher says that investors in Seeff Randburg’s trading area have been looking for fulltitle homes in order to maximise on rooms and cottages. A one-bedroom unit, for example, can achieve a rental of R3,500 a month, and a three-bedroom house can achieve between R10,000 and R20,000 a

month, depending on the accommodation offered. “Features that appeal to the students or their parents include good security, wi-fi facilities and proximity to the place of study,” says Ketcher. Schooling says that it is up to the private sector to get involved in providing solutions to what appears to be the insurmountable student accommodation problem.

‘Accommodation for students is more than providing a place to sleep; it’s about creating communities — a listening, learning and living environment’ ‘‘

Pieter Kloppers, director of student communities, Stellenbosch University

STAG STUDENT LODGE

STATISTICS The Department of Higher Education and Training aims to house 80% of the students at rural universities and between 25% and 50% of the students at urban universities. The 2014 budget of the National Student Financial Aid Scheme for more than 430,000 students at all 25 public universities and 50 public FET colleges was R9.7bn. This was sufficient to fund the studies of only half of those who applied for study loans. It has been found, especially among first-year students, that if they are in good accommodation, their performance (pass rates) improves by 33%. The number of students in SA who finish their studies is about 18%, compared with a global average of 25%. It is believed that this discrepancy can be reduced simply by having good accommodation for the students.

Student housing innovators STAG African and Citiq are two companies that are active in providing student-housing solutions in South Africa. STAG African says it has pioneered the use of innovative building technology (IBT) in student accommodation in SA. IBT replaces bricks-andmortar building methods with lightweight steel structures that are prefabricated off-site. It reduces building costs by up to 20% and construction time by 40%, says STAG Africa. IBT lowers the costs of heating and cooling a building, lowering the structure’s carbon footprint. One of STAG African’s flagship IBT projects is a residence, built in 2013, at Stellenbosch University’s Tygerberg campus.

Citiq, a Gauteng-based property investment and management company, has converted three buildings into student housing in Braamfontein and Umhlanga. However, company’s most innovative project is Mill Junction, Newtown (see image opposite), where it stacked shipping containers on top of disused grain silos and turned the entire structure into student accommodation. “We have done extensive research into providing everything a student needs for a study-friendly and comfortable environment, which we hope will make difference to their academic success,” says Citiq CEO Paul Lapham.

ADVERTISING FEATURE 7 November 2014

Owl’s Rock — a slice of paradise

THE PLOTS Highest plot with homestead: 4,864m² Guaranteed views and privacy Excellent existing buildings Parkland flanking R10m Elevated centre plot: 2,392m² Guaranteed views and privacy Parkland flanking R17.5m Seafront plot: 4,144m² 91m water frontage High-tide watermark Seafront guest cottage (The Keep) Parkland flanking R27.5m Features Most exclusive real estate enclave in Hermanus Lovely seafront stroll to the village Rolling gardens with natural contours and attractive rock outcrops Two plots with excellent building platforms All three plots adjoining open parkland

Owl’s Rock is a famous landmark homestead occupying a vast acreage of seafront land on the Hermanus Coast WORDS AND PHOTOGRAPHS: SUPPLIED

wl’s Rock is unique for three main reasons. First, it is, by far, the largest seafront property in Hermanus, measuring 12,445m², and has direct water frontage of a spectacular 91m. Second, the plot has hightide watermark frontage, and is one of a few that do — and can ever — enjoy such a rare privilege, as all other seafront properties here have an amenity zone or admiralty reserve between their seaside boundary and the ocean. Third, the historic fish smokehouse built right on the water’s edge has been converted into a rather nicesized guest cottage known as The Keep, which has legal status as “existing”, and can never be replicated in terms of today’s seashore legislation. Further to these reasons, another very special two exist: a contented permanent

colony of seals frolic daily in the sea in front of Owl’s Rock, as do whales (in season), and there is a tucked-away surfing spot directly offshore that attracts world-class surf pumps and big-wave riders. THE PROPERTY The topography of the property has a level top platform at a height of 12m above sea level, and rolling lawns in a formal landscaped garden. There is a natural fall to the middle and again to the lower end of the grounds, from where no neighbours are visible. The west of the garden is well covered with indigenous vegetation and shrubs and has attractive natural rock outcrop features. The sprawling single-storey homestead was built prior to 1957 in the Cape Dutch style. There are outbuildings too, including a caretaker’s cottage

and garaging. The building enjoys high-protection 3A Heritage status, though the local Heritage agency says that it could be altered and modernised, if this was done sympathetically to Heritage requirements. The agency says the home could certainly be opened up towards the sea, and even be extended outwards. Owl’s Rock has been owned for more than 33 years by the same family, who have maintained it meticulously. The garden has been loved and nurtured to its full mature status over the years. DECIDING TO SELL When the family decided to sell the property three years ago, it soon became evident that potential buyers wanted either to subdivide it, or at least wanted to know what the exact possibilities were

in terms of town planning and so on. It was at this point that their appointed estate agent, Hermanus Property Sales, advised the family to undertake the study themselves, together with the town planners and the agents, and to come up with the best subdivision scenario that would not harm the surrounds, and to have this plan officially granted by the town council. The application involved almost every municipal department as well as the Department of Roads, and included a full environmental impact study as well as public participation. The letter of approval was issued and the property is now being taken to market. Each property’s title deed includes conditions preventing any further subdivision and protecting each owner’s views of the landscape.

ADVERTISING FEATURE 7 November 2014

CONTACT HERMANUS PROPERTY SALES

If you are interested in this property, please call John Leppan (082 801 5252), David Leppan (082 455 6439) or the HPS office (028 313 0914), or e-mail hps@hermanus.co.za. For a virtual tour, visit http://youtu.be/cmM0tKO-bQI.

INVESTMENT Friday November 7 2014

The maths of leisure A second home is purchased for reasons such as location and holiday destinations, but South Africans do not discount investment and long-term capital appreciation from the equation WORDS: GRAHAM BARLOW :: PHOTOGRAPHS: SUPPLIED

or those of us lucky enough to live overlooking the ocean, the question may not be moot. But thousands of home owners who are bound through their employment, their children’s schooling and other weighty issues to a home that is landlocked or, worse, hemmed in by 3m security walls with a view of the occasional jacaranda tree, the question is often raised: why not buy a second home located on a piece of paradise? After all, we spend small fortunes each year taking wellearned breaks from those hard hours behind a desk, on the road or in the factory, so why not reallocate that expenditure to a long-term investment that provides gratification en route, as it were? This is certainly one of the main reasons that many South Africans look to buy second properties, but is it the main reason? How often is a second property bought simply because of peer pressure, or as an investment, pure and simple?

Questioning estate agents in the Western Cape area gives a broad base of replies. It seems that there is no single, or even simple, answer. “Prestige and peer pressure” is — surprisingly — the most common reason given, with “holidays” taking second place. Intriguingly, both answers are always appended with “and investment” after a little thought. It is that underlying confidence in the property market that allows people to contemplate their options. The dream is backed up by a reality that is consistent and trustworthy. When one focuses on the dreams rather than the pragmatism of the investment, it becomes clear that there are different rationales driving purchases in different areas. Younger buyers focus on trendy areas such as Sea Point and the Atlantic coastline, while older buyers and those with families tend towards the False Bay coastline, where holidays

(and life in general) are taken at a more sedate pace. The younger buyers tend to utilise their facilities far more regularly: the home (or more often, the flat) is used for longer holidays as well as multiple short-term visits during the year. In contrast, the second “family” house tends to get used purely for annual holidays, and often two or more years will elapse between visits. “The family wants varying experiences — not just a repeat performance each year,” says a Johannesburg resident who owns a holiday home in Simon’s Town. Belinda Benson, owner and dealer principal of Harcourts in Simon’s Town, has years of experience in this market, both in KwaZulu-Natal and in the Western Cape. “The second-home market has shown surprising volatility in the past 10 years,” she says. “It was very strong in the 1990s, when there was considerable offloading of properties, particularly by overseas

investors, in the early part of the century during the boom period, but the weak rand has seen a resurgence in buying.” Overseas investors are not necessarily the primary buyers, says Benson. “There are many reasons locals buy second and even third homes. “It is impossible to pin down a single reason. But there is no doubt that the underlying reason for local buyers is investment. Property has held up as the safest investment over the years, and this generates confidence. “For international buyers there is the attraction of incredible value for money.” Statistics back up Benson’s comments on the period she is referring to: there was a major downturn during the period 2007-08, when the market lost 39% of its value and dropped 46% in unit sales. However, although it is very difficult to separate second homes from primary

Although it is very difficult to separate second homes from primary residences when looking at cold statistics, recent figures reflecting the recovery period from after 2008 to the end of 2013 show a 53% increase of R5.1bn in value and a 36% increase of 1,432 more units sold

residences when looking at cold statistics, recent figures reflecting the recovery period from after 2008 to the end of 2013 show a 53% increase of R5.1bn in value and a 36% increase of 1,432 more units sold — most of it, however, in the last 18 months. Says Laurie Wener, MD of PGP Western Cape metro region: “The market appears to be driven by the return of investor interest and a high percentage of cash buyers in most areas of the Western Cape. There are also hot spots of foreign buyers, with seasonal distribution of sales.” Benson says that the “hot spots”, or location of the property, often becomes the driving factor in the use of the second property. While there are many wealthy families who can afford to run a second home that is only occupied for a few weeks a year, the bulk of second properties need to be self-sustaining to meet ongoing costs. “Buying to let, particularly long-term letting, has taken a large segment of the secondhome market. Rates and costs of maintenance are a big factor when buying a property for investment: many owners see the rentals as meeting these commitments while the capital growth of the property is the long-term investment.” She says that, in line with overseas trends, many of the second homes are now run as self-catering establishments, but she concedes that is difficult for distant owners. There is no doubt that the second-home market in SA is a lucrative one. While it may be difficult to isolate a single outstanding reason, analysis points to the purchasing of another property being fundamentally economically driven on the strength of property’s success over the past decades. Without discounting the “holiday home” catch-all title, it would appear that this factor is only one of many driving motivations; in fact it would appear that most holiday homes — certainly in the Western Cape — are now hosting (at a fee) other people’s holidays.

WINE FIND November 7 2014

Tiny bubbles of joy As the festive season is not so much approaching as it is suddenly a retailing and long-lunch reality, it is time to bring out the bubbly WORDS: KATY CHANCE :: PHOTOGRAPHS: ISTOCK & SUPPLIED

‘For me the Krone Borealis 2012 was an exceptional vintage. We created a wine with an extremely delicate bubble — a cap classique-maker’s aim — and the elegant flavours of the Chardonnay complement the Pinot Noir very well. In the foreground you can pick up notes of biscuits and the creamy lees flavours — but the crisp finish leaves you wanting more’ Stephan de Beer, Twee Jonge Gezellen

A has been making excellent sparkling wines in the Champagne method (méthode cap classique) for a very long time, which would explain why they are so good and such excellent value for money. There are increasingly more French champagnes on our supermarket shelves, and even though their prices have come down considerably, they are still no match for the local variety in terms of randto-drinkability ratio. Tulbagh’s Twee Jonge Gezellen is one of the country’s most celebrated estates and has been making cap classique since 1987. Its Krone Borealis Vintage Cuvée Brut — I am drinking the 2012, which is on the shelves — is one of our most iconic bubblies, made from the classic Champagne varieties of Chardonnay (60%) and Pinot Noir (40%) . It has an intensely bready nose, rather than the often grassy notes of a Blanc de Blanc cap classique, which is made from Chardonnay only. This is courtesy not only of the Pinot Noir but also of the wine’s sitting on the lees (the dead yeast cells) for at least 15 months, which it does in underground cellars in racks, where all the remuage — careful rotating of the bottles — is done by hand. The yeastiness follows from the nose to the palate with unmistakable warm and biscuity notes — think Marie biscuits for grown-ups — but without losing any acidity. As the winemaker Stephan de Beer puts it: “For me the Krone Borealis 2012 was an exceptional vintage. We created a wine with an extremely delicate bubble — a cap classique-maker’s aim — and the elegant flavours of the Chardonnay complement the Pinot Noir very well. In the foreground you can pick

up notes of biscuits and the creamy lees flavours — but the crisp finish leaves you wanting more.” The grapes are hand-picked in the “cool of the night and the early morning at the beginning of the harvest season”, with the turning of the bottles done by hand too, all of which makes for a highly labour-intensive wine. “We believe in job creation,” says De Beer, “and we want to make the best

handcrafted cap classique in SA.” This is commendable, especially in light of the wine’s retailing for less than R100 (R95.99 at selected Pick n Pay stores). De Beer is right about the crisp finish; descriptions of bread, biscuit and sometimes brioche might put some bubbly-drinkers off, as the summer looks set to be a scorcher, but the bright acid flourish that finishes the Krone Borealis Vintage

Cuvée Brut ensures that it is refreshing — a perfect accompaniment to all seafood but especially oysters, or simply a great aperitif or postprandial pick-me-up. As with most of our bubblies, it is 12% alcohol only, so you can indulge more than you can with our more alcoholic whites and rosés. All in all, Krone Borealis continues to please and more than lives up to its name of “Northern Crown”.

INTERNATIONAL 7 November 2014

Local holiday homes a good proposition

INTERNATIONAL HOLIDAY HOUSE PRICES SOUTH AFRICA V & A Waterfront average values up from 2009 Canals 23% Front yacht basin 52% Average prices: One bedroom: R4m+ Two bedrooms: R8m+ Three bedrooms: R18m+ Penthouses: R32m+ Atlantic Seaboard Bantry Bay — fully serviced four-bedroom flat: R27.95m Clifton — three-bedroom beach bungalow: R27m Cape Winelands Franschhoek — sevenbedroom private estate flat: R16.9m De Zalze Winelands Golf Estate, Stellenbosch — onebedroom golf lodge: R1.925m

Good value is attracting international buyers to SA’s top-end holiday house market ATLANTIC SEABORD

WORDS: ANNA-MARIE SMITH :: PHOTOS: FINE & COUNTRY

PROVENCE FARMHOUSE

lobal competition in prime locations reflects an appetite for steady returns on quality investments, and SA’s coastal, wine and mountain regions compare favourably with those of southern Europe, the UK and the US. Balmy summers, mild winters and a weak rand, amid international economic uncertainty, responds to foreign buyers’ preferences. Memorable holidays in flourishing tourist destinations continue to drive investments of passion, particularly at the water’s edge and in mountainous regions. This phenomenon sees cash-flush buyers take a longer term view along the popular Mediterranean French Riviera and Tuscan countryside. When compared, Cape Town’s Atlantic Seaboard and Boland wine regions show considerable value, both in returns and lifestyle choices. Good buyer’s markets in regions off the beaten track across France and Greece are opening up, as values in some areas have dropped by up to 40%, according to Knight Frank Currency Matters 2014. The head of PIRI Analysis, Kate Everett-Allen

says that while international investors’ focus remains on city hot spots, tentative signs of a recovery in the prime second-home market are visible in Alpine ski areas, the Italian Riviera, Western Algarve, and popular UK country house markets. Signs of a slowing UK holiday market, however, relate to the proposed introduction in 2015 of a mansion tax on properties worth more than £2m (about R35m), which is likely to coincide with tightening mortgage lending and interest rate hikes. As one of the most visited European destinations, France offers lucrative short- and long-term growth. The Côte d’Azur, says Alice Watson-Smith of Fine and Country, Cannes, represents one third of rental and purchase searches. “Leisure investments along the sunny French Riviera are centred on longevity, family legacies and non-punitive tax havens.” Continued demand in the small principality of Monaco illustrates how exclusivity drives lifestyle choices and investment growth, as residents enjoy the highest life expectancy, exceeding the rest of the world’s population by five years.

The more affordable and relatively exclusive lifestyles, however, are listed in the Knight Frank Wealth Report 2014, where SA — albeit in last place — is positioned among 20 countries, with Monaco in first place. “Capital growth on the Riviera and the more desirable arrondissements of Paris has been relatively protected from the worst effects of the recession, which has stubbornly afflicted the French economy and property market since 2008,” says Watson-Smith. The Riviera, central Paris and some of the major ski resorts have more or less held their values. “Sales on the French Riviera have outperformed the rest of the country because the market is, like Clifton or Bantry Bay, mostly an affluent market.” Says Seeff Properties chairman Samuel Seeff: “While a weaker rand has been a bust for the economy, it has been somewhat of a boon for property, making it far more attractive to topend and foreign buyers.” In 2014 the group sold about 40% of its V & A Waterfront apartments to

‘Sales on the French Riviera have outperformed the rest of the country because the market is, like Clifton or Bantry Bay, mostly an affluent market’ Alice Watson-Smith, Fine and Country, Cannes

foreigners — mostly European — as vacation homes or buy-to-let investments. The pickings for South African buyers are growing, as some southern European and Indian Ocean countries are actively seeking foreign investment to boost their housing markets. Local buyers initially attracted to holiday investments are increasingly investing on the premise of foreign residency and retirement in secure surroundings. High-end estates and coastal homes in Malta, Spain, Portugal and Mauritius are increasingly rated at the top of cross-border investment lists. Proximity to Indian Ocean islands that adds notable investment interest from local and foreign buyers has seen Pam Golding Properties (PGP) participating in the Mauritian market since 2000. The head of PGP’s international division, Chris Immelman says Mauritian buyers are primarily Frenchspeaking and come either from France or from nearby Réunion. About 25% of buyers are from SA and

the balance mostly from Europe. “These are affluent buyers, many of whom own several leisure properties in various locations around the world,” Immelman says. It is estimated that at least 80% of these investors buy for holiday home purposes. Foreign holiday investors with a preference for rural living favour the Boland and Constantia wine regions, where residential and golf estates offer affordable investment options as compared with the French wine regions of Tuscany and Provence. Says Watson-Smith: “As a region, Provence is much larger than Franschhoek and Constantia, and prices are variable, depending on which towns you are close to, the size of the property, and access to the auto route and distance from Nice International Airport.” Sound holiday investment returns are driven by various needs, including South African buyers’ preferences for secure holiday locations abroad, amid their global counterparts’ need to divert from risky eurozone markets.

FRANCE Provence — fourbedroom villa: ¤985,000 French Riviera Cannes — one-bedroom flat: ¤1.98m Chamonix — threebedroom ski flat: ¤1.1m ITALY Lake Como — fivebedroom villa: ¤2.9m SPAIN Majorca: four-bedroom villa: ¤1.49m UK Devon Riverside cottages — average weekly rentals: between £400 and £1,134 (about R7,000 and R20,000)

INTERNATIONAL 7 November 2014

CANNES, FRANCE

MURCIA, SPAIN

A case for foreign I holiday home ownership Prices of holiday homes abroad seem to be stagnating in many popular areas and it might just be the time to buy WORDS: LEA JACOBS :: PHOTOS: FINE & COUNTRY, ISTOCKPHOTO

Prices of many properties in Greece, Spain and Portugal are still dropping, and even if the market were rising, prices would be nowhere close to reaching the highs of 2006

MIAMI, FLORIDA, US

t is that time of year when family holidays come into the limelight. By now, most will have booked a trip to their favourite holiday destination, knowing there simply will not be space available in the more popular spots around SA if they leave it to the last minute. Flights to overseas destinations to enjoy a little R&R takes a lot more planning, and those who are taking the family to some far-flung country will have booked and paid for the flights and accommodation months in advance. It helps to know what you are actually booking before you hand over your cash. Unfortunately for those going abroad, this often is not possible, and while the photographs on the internet may look fantastic, what you see isn’t necessarily what you get. Owning your holiday home is one answer to problems with bookings, and given that many properties in Europe and the US are still selling for far below prices what was paid for them during the last economic boom, it may well be the time to bite the bullet and invest. If foreign estate agents are to be believed, demand is increasing, and this is fuelling prices in traditional holiday hot spots. However, the Guardian newspaper recently ran a report quoting Eurostat, the EU’s data agency, which noted that property prices across much of Europe had continued to fall throughout 2013. Prices of many properties in Greece, Spain and Portugal are still dropping,

and even if the market were rising, prices would be nowhere close to reaching the highs of 2006. At that time a twobedroom, two-bathroom villa close to the beaches of Murcia in Spain would have set you back by about R2.4m. Today the same property is selling for about the R1.6m. The idea of owning a holiday home in any of the aforementioned countries has become even more appealing of late, with the announcement that any non-EU investors who purchase or rent a home valued at more than €250,000 (about R3.4m) will be eligible for a residence permit. The picture changes a little for those who wish to spend their holidays skiing on the slopes of Austria’s mountains. It would appear that Austria has some strict rules in place pertaining to second-home ownership by foreigners, and some areas, such as the provinces of Tyrol, Salzburg and Vorarlberg, completely bar the practice. There are no restrictions, however, on those looking to invest in the US. As in Europe, property prices in a number of US regions have slumped to record lows. Be warned, however, that US banks are not keen to lend money to non-US citizens. The Guardian notes that a five-bedroom, fourbathroom lakeside villa with pool, situated 20 minutes from Walt Disney World, Florida, is on the market for about R2.8m, a far cry from the R3.94m that it sold for in 2005.

News (TO BE FILLED IN BY Bday) November 7 2014

Stellenbosch homes averaging R3.2m

Cape Whale Coast property sales at R900m for 2014 alone

imited stock and continued demand are driving the Stellenbosch residential market. “There is always strong demand for property, owing to the area’s positioning, lifestyle offerings and the university,” says Dot Foster, broker/owner of RE/MAX Oaktree. “A wellpositioned fixer-upper is an especially good buy, with these kinds of homes offering the best appreciation in value over a period of two to five years.” Residential homes average about R3.2m, while student flats on the Stellenbosch University’s campus range from R1m to R2m.

“A great way for buyers to evaluate whether or not they are getting good value for money is for them to determine the potential capital gain of the property and the potential rental income that can be achieved,” says Foster. “A good example would be that of an investor who purchased a student flat in 2008 for R850,000. We recently sold that flat for R2.1m. “Student properties in parts of Stellenbosch such as Welgevonden are also seeing healthy rental incomes, with investors able to rent out a R1,5m apartment for up to R12,000 a month.”

Residential growth ‘highly satisfactory’

esidential, holiday and investment buyers have returned to the Cape Whale Coast, according to Seeff agents in the area. From the stretch between the Hangklip-Kleinmond and Hermanus areas nearest to Cape Town, down to Witsand and Stilbaai on the south coast, sales activity is now at the best levels in more than five years. The latest FNB Holiday Towns House Price Index

points to a strengthening in holiday-home buying this year. According to the report, this now accounts for about 3% of all buying activity, up from 1% in 2010. The bank also notes that, as at midyear, prices in the holiday towns is up by 8.4% from 4.9% in the first quarter. Seeff Hermanus principal Reon van der Merwe says that most of the bargain buys in the area are gone and that prices have settled

Mooikloof tops Tshwane property values

ooikloof Equestrian Estate, in the east of Pretoria, has been named as the most expensive residential estate in the metro, according to the City of Tshwane. An entry-level home in the estate costs about R4m and consists of three to four bedrooms and two bathrooms, says Roma Naude, broker/owner of RE/MAX Property Merchants. This type of home is situated along the estate’s boundary wall. Mid-level homes cost between R6m and R8m and are about 500m2 under roof. These homes consist of

four or five bedrooms, good finishes throughout, fully developed gardens, a swimming pool, good entertaining areas. They come with extras such as a borehole, electric sprinkler system, bar, tennis court and staff accommodation, and enjoy good positioning within the estate, with beautiful views of the countryside. The most expensive properties on the estate, which typically range from R10m to R22m, are 1,200m2 to 2,100m2 under roof and feature anywhere from four to seven bedrooms, all en suite.

and are even starting to pick up. “Sales volumes in our area, for example, slumped to about 485 transactions to the value of about R541m in 2009,” he says. “By last year, activity had more than doubled to 1,000 transactions, worth about R1.1bn. This year, about 850 sales to the value of more than R900m have already been concluded, and we expect to end this year ahead of last year’s figures.”

‘By last year, activity had more than doubled to 1,000 transactions, worth about R1.1bn’ Reon van der Merwe, principal, Seeff Hermanus

ationally, residential and commercial property sales have seen growth of between 6% and 8% in the past year. This is “highly satisfactory in the circumstances”, according to Tony Clarke, MD of Rawson Property Group. He says that in certain in-demand areas, the growth had been much higher. On a macroeconomic level, SA’s trade deficit in August rose to a new high of R16.3bn (against R6.8bn in July). This caused the rand/dollar

exchange rate to weaken further, so that at the time of writing, $1 cost about R11.21. “This and other recent economic data (including the fact that the third quarter was the worst on the JSE stock exchange in three years), have done much to diminish business confidence in SA and have reinforced the traditional perception that in a struggling economy there are few better classes to invest in than property,” says Clarke.

F OLLO W U S I N PRI N T O R O N LI N E

HYDE PARK, JOHANNESBURG, GAUTENG, SOUTH AFRICA

โ ข

R38,5-MILLION

LH307

Gracious Provenรงal-style home in an exclusive highsecurity boomed cul-de-sac, set on more than an acre of landscaped garden with borehole. The soaring foyer flows to elegant reception rooms and a conservatory that is ideal for entertaining. Stylish gourmet kitchen with Siemens appliances. Four bedrooms, four bathrooms, two lounges plus pyjama lounge, two dining rooms, three garages, and staff accommodation for two. Sumptuous master suite with spectacular views. Nina Obel +27 (0)82 552 7325 Stephen Brick +27 (0)82 551 7971 www.vered.co.za web ref: 111977

HOMEFRONT

Marketplace From sea to suburb to city, the country’s most beautiful homes await you

10312

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MAKE

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Western Cape

CONSTANTIA RURAL

R9.9 million

Stunning gem in desirable area. This awesome family home abounds with positives offering 6 bedrooms, 7 bathrooms, entertainment family room, flowing tropical pool and patio plus connecting bar. Separate teenage cottage is so private you hardly notice that they are there. Bedrooms: 6 Bathrooms: 7 Garages: 2 Web Access KW1192780 Anthony Snyman 083 621 1279

DE WATERKANT

R4.995 million

Sunny harbour and Waterfront views. Magnificent newly renovated spacious and modern 2 bedrooms, 2 bathrooms both en suite, in popular The Rockwell. Wraparound balcony plus 2 secure undercover parking bays. Bedrooms: 2 Bathrooms: 2 Parkings: 2 Web Access AS1196501

KREUPELBOSCH

R4.5 million

ORANJEZICHT

R3.275 million

Sought-after Kreupelbosch. Sweet Valley zoned. This picture perfect 4-bedroom family home in Kreupelbosch, has a well-established garden and abounds spacious open-plan living areas. Dining room and kitchen leads out onto an undercover patio. Sparkling salt-water pool. Bedrooms: 4 Bathrooms: 3 Garages: 2 Web Access TO1194216 Dawn Roberts 072 682 7202

Substantial loft-style penthouse. 167 m² Penthouse on top of a small block. Beautiful leafy surroundings. Spacious terrace with Table Mountain views and Jacuzzi. Double garage. Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access CB1191301

LAKE MICHELLE

WAVES EDGE

R4.295 million

Bridget Shiffer 071 605 5556, Peter Spencer 083 264 0971

R1.75 million

Jenny 082 808 9495, Linda 082 556 9990, Melanie 083 653 9297

Lake frontage home on Lake Michelle. Attractive 3-bedroom, 2½-bathroom home. Well designed, light and airy living accommodation, a fabulous kitchen, double garage, wooden deck, Jacuzzi plus your own jetty for boating or fishing. Just so peaceful and secure – an enviable lifestyle. Bedrooms: 3 Bathrooms: 2½ Garages: 2 Web Access NH1192928 Lilian Bron 082 377 3725

Spectacular mountain and sea views. From the sweeping lawns and garden pathways lead to the beach. Enjoy sea and mountain views from the balcony, lounge and dining area. Modern and well-equipped kitchen with gas hob and oven. Extra's include 1 basement parking and a 6 m² storeroom. Bedroom: 1 Bathroom: 1 Parking: 1 Web Access 1TV1192648 Edelweiss Marais 082 667 9417

TABLE VIEW

SUNNINGDALE

YZERFONTEIN

R1.35 million

House with self-contained flatlet. Delightful facebrick home on a large plot with sparkling blue pool. The house is divided into 2 bedrooms and 1 bathroom plus separate entry third bedroom with living area, bathroom and kitchenette. Ideal for the extended family. Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access 1TV1196358 Melody Poynton 084 551 9844

R1.825 million

Sought-after Sunningdale. Beautiful, modern family home located in sought-after Sunningdale. This spacious home consists of 3 bedrooms, 2 bathrooms, double garage on a large stand with exceptionally security. Not a cent needs to be spent on this immaculate property. Bedrooms: 3 Bathrooms: 2 Garages: 2 Web Access 1TV1196423 Wessel Roux 082 086 8730

Brand-new with spectacular views. This home sits on a high rise. The living, dining and kitchen are open-plan with views towards the Atlantic Ocean, Dassen Island, and Table Mountain. This brand-new, unique home encapsulates the desired elements for chic, modern and stylish living. Bedrooms: 5 Bathrooms: 3 Garages: 3 Web Access LA1190708 Ilona du Toit 082 853 5983

ATLANTIC SEABOARD: Atlantic Prestige +27 21 439 1614, Camps Bay +27 21 438 3444, City Bowl +27 21 423 2150, Sea Point+27 21 439 7415 SOUTHERN SUBURBS: Quadrant +27 21 673 4200, Newlands +27 21 685 7759, Tokai +27 21 701 0191 SOUTHERN PENINSULA: Fish Hoek +27 21 782 6440, Noordhoek +27 21 789 1921 Simon’s Town +27 21 786 1612 WESTERN SEABOARD: Big Bay +27 21 554 0033, Blouberg +27 21 557 1115, Sunningdale +27 21 556 2362, Sunset Beach +27 21 551 8640, WEST COAST: Britannia Bay +27 22 742 1001, Langebaan +27 22 772 2196/9066, Paternoster +27 22 752 2668, Saldanha +27 84 517 3290, St Helena Bay +27 22 742 1001, Veldrif +27 22 783 1511, Yzerfontein +27 22 451 2188 HOUT BAY: +27 21 790 5940

www.pamgolding.co.za

R3.95 million

WEB REF: 3237776

BRYANSTON • R5 300 000 UNIQUE GEM IN BRYANSTON Enjoy the tranquillity of this beautiful home, tucked away down a treed driveway on 180m² stand. This home offers the discerning family large receptions, gourmet kitchen which leads to undercover entertainment patio that overlooks the landscaped garden and pool. Study, private guest suite with separate lounge and own patio. Upstairs offers an en-suite master bedroom with fireplace opening onto covered a balcony, 2 further bedrooms and 2 bathrooms. Pyjama lounge/ study area. SQ, 3 garages. ANNE BEEDLE 083 302 3842 anne.beedle@everitt.co.za MARLENE JOHNSON 082 342 3538 marlene.johnson@everitt.co.za 011 463 2033

WEB REF: 3233164

WEB WEBREF: REF:3140053 2559587

BRYANSTON • R2 685 000 PENTHOUSE APARTMENT Immaculate apartment in secure complex. Open plan lounge/ dining room. Large covered entertainer's patio. Neat kitchen with breakfast counter, granite tops and separate scullery. 3 Bedrooms, 2 bathrooms, guest cloakroom, 1 covered and 1 open parking bay. KEITH SMITH 082 572 1396 • keith.smith@everitt.co.za 011 463 2033

BEDFORDVIEW • R3 800 000 COMFORT AND CHARACTER EPITOMIZE THIS HOME! This well-appointed 4 bedroom, north-facing family home has double volume entrance leading onto open-plan receptions.Well manicured garden with sparkling pool and covered patio. All enclosed in a sought-after, 24 hr access-controlled street. NATALIA 072 392 8421 • natalia.dias@everitt.co.za LUZ 082 444 9763 • luz.vazzana@everitt.co.za • 011 453 5599

WEB REF: 3003506

WEB WEBREF: REF:3140053 3236497

FISH HOEK • R4 600 000 FAMILY HOME WITH SPECTACULAR VIEWS This mountainside home offers 4 bedrooms 3 bathrooms, 2 mes. Hideaway lounge cabin, formal and semi-formal lounges and grand views from the poolside. Designer kitchen, domestic accommodation and 4 garages. This home is a perfect lock up and go holiday home. WENDY ROSY 082 498 0729 • Wendy.r@everitt.co.za 021 784 1630

TOKAI • R 8 950 000 ENTERTAINER’S DELIGHT IN SECURE ESTATE This well designed family home has ample space for the family to live and entertain! 4 En-suite bedrooms, a study, bar room, family room, open plan lounge, dining room, kitchen and 3 garages. Living area opens up to enclosed sun room overlooking a swimming pool. MARION BOLTON 082 408 5041 SALLY GRACIE 083 459 9523 • 021 712 5029

WEB WEBREF: REF:3140053 3212125

BEDFORDVIEW • R7 480 000 METICULOUSLY CONSTRUCTED WITH AN ORIGINAL DESIGN! Palatial rooms, contemporary design and top security are but a few distinguishing features characterizing this newly-renovated 4 bedroom residence. 24Hr security, one is welcomed into grand receptions, free-flowing onto a central wrap-around partying apatio. NATALIA 072 392 8421 • natalia.dias@everitt.co.za LUZ 082 444 9763 • luz.vazzana@everitt.co.za • 011 453 5599

WEB WEBREF: REF:3140053 3237637

TOKAI • R8 200 000 IMMACULATE DUAL LIVING Renovated dual-living home with fantastic views in sought-after area. Main home has 3 bedrooms and extra large entertainment areas with pool and contained manicured garden. Flatlet has spacious open-plan lounge/kitchen and bedroom. MARION BOLTON 082 408 5041 SALLY GRACIE 083 459 9523 • 021 712 5029

WEB REF: 3137730

THE BELFRY • R5 795 000 PERFECT ENTERTAINER'S HOME Receptions include a formal lounge, dining room and TV lounge/family room. The kitchen is spacious with separate pantry and scullery. Downstairs has a guest bedroom with a full bathroom. Study, gym room, 4 extra length garages and staff quarters. Upstairs includes 3 en-suite bedrooms and a pyjama lounge. The upstairs TV lounge leads onto the jacuzzi patio. Solar lighting throughout the house, underfloor heating, aircon, automated irrigation and landscaped garden and pool. ROZ 083 755 8933 roze@everitt.co.za ZELDA 082 338 6219 zelda.reyneke@everitt.co.za 011 801 2500

WEB REF: 3221554

WEB REF: 3216860

WELTEVREDEN PARK • R1 590 000 CHARMING CLASSIC THATCH Covered patio, overlooking garden and pool. Downstairs open-plan lounge and dining suites. Study/office. Upstairs: 2nd Living area and kitchen. 3 Bedrooms and 2 bathrooms (mes). Automated double garage, staff toilet, shower and garden wendy/storage house. EDDIE ROUSSOT 082 894 6820 • eddier@everitt.co.za GIAN SDOYA 082 375 0119 • gian.s@everitt.co.za • 011 801 2500

HARTBEESPOORT DAM • R2 500 000 LOCK UP AND GO OR STAY AND PLAY Option to rent out to golfers R2500 p/n. 3 Bedroom en-suite, entertainment lounge c/w built-in gas braai and extractor. Kitchen, scullery, enclosed drying yard, storeroom, study upstairs and separate toilet. Private garden and deck. Double auto garages and carport. IRIS VENTER 082 486 8479 • iris.venter@everitt.co.za 011 801 2500

3140053 WEB REF: 3230631

WEB REF: 3235757

CAPE TOWN CBD • R 2 200 000 SPACIOUS 2 BEDROOM APARTMENT WITH VIEWS This 2 bedroom apartment in Greenmarket Place is stylish and spacious. The finishes are modern and clean. The lounge/dining room with open-plan kitchen. This apartment has lovely scenic front balcony. 1 Reserved undercover parking bay in a neighbouring building. PETRICK FOURIE • 083 443 1929 • petrick.fourie@everitt.co.za 021 434 8755

GARDENS • R 1 995 000 CITY LIFE, WITH VIEWS! The Apartment is modern and spacious, and consists of 2 bedrooms, lounge/dining room, open-plan granite kitchen, en-suite bathroom with bathtub, second bathroom with walk-in shower, scenic front balcony and reserved undercover parking bay. PETRICK FOURIE • 083 443 1929 • petrick.fourie@everitt.co.za 021 434 8755

WEB REF: 3237700

PLETTENBERG BAY • R 1 799 000 THE VILLAS Sole Mandate. New Listing! This sought after 4 Bedroom 3,5 Bathroom Exec Apartment with private garden and garage, is just a stones throw from Central Beach and the Beacon Island Hotel. The ideal carefree Plett investment. Fully furnished. DEON WESSELS 076 608 6038 • deon.wessels@everitt.co.za 044 533 5250

WEB REF: 3224578

PLETTENBERG BAY • R7 650 000 KEURBOOMS RIVER One of Plett’s finest riverfront homes. Exceptional views and birdlife. 4 Bedrooms, 3,5 bathrooms and 3 garages. Private boat slipway and a 3 minute walk onto one of the world’s finest beaches. A home of exceptional quality in the secure Strandmeer Estate. JOHN FULLER 082 905 1516 • johnf@everitt.co.za 044 533 5250

Observatory – P.O.A

Magnificent Herbert Baker "styled" home on the Ridge. 5 comfortable and spacious bedrooms, all en-suite. Fabulous kitchen with walk in pantry / scullery / laundry, wine room and movie projector, swimming pool, excellent security features, irrigation, borehole, viewing deck and wooden walkways amongst indigenous gardens. Anni Cloete 082 408 7960 | 011 622 1820 | Web Ref: 85229

Morningside – R20.99 million

There is a difference between a mansion and a masterpiece. This home, offers grand scale entertaining and family living. From the sumptuous double volume entrance hall you will be drawn to the oversized entertainment area. Set on almost 3600 m2, this beauty has 6 en-suite beds, a stunning kitchen, climate controlled wine cellar, gym, 3 garages, 2 staff rooms and so much more -Welcome home. Norma Robinson 082 554 7260 | 011 656 0888 | Web Ref: 84628

Linden – R4.25 million

“Where traditional grandeur meets modern splendor” A Stunning lifestyle on 752sqm. Separate guest suite and one cottage with bed, bath, kitchenette and lounge. Entrance hall, lounge, dining room, kitchen, open plan with scullery. 3 en suite bedrooms with French doors leading to patio and private garden. French Provencal garden with water features. 3 Garages and area for open parking. Colleen Tappin 082 659 8013 | 011880 3550 | Web Ref: 84789

Contact: Liana Joubert: 083 411 4537 / 011 880 3550.

RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS

CREATIVE GROUP / DOOK

CLASSIC UNITS Three-bedroom en-suite upwards to six Starting from R6.9m

THE FIVE STAR LIFESTYLE IS YOURS, BE IT CLASSIC OR PLATINUM

PLATINUM UNITS Ranging from Threebedroom en-suite to penthouses Price on request

By appointment only

The Houghton Estate has everything you’d expect from a 5-star lifestyle destination – what more could you ask for?

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APARTMENT SALES CENTRE

Unit 12018, The Houghton on the 12th 53 2nd Avenue, Houghton Office – 011 034 2201 Alan Becker – 082 718 8100 Email – alan@thehoughton.com

Located at 41, 2nd Avenue, Off 2nd Street, Houghton, On the Houghton Golf Course Lawrie Kreeve – 083 310 2516 Frank Nel – 083 695 1188 Email – frank@thehoughton.com

Safe. Secure. Surrounded by nature.