Business Day Home Front 09 October 2015

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FRIDAY, OCTOBER 9 2015

HOMEFRONT PAGE 8

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TOKARA CELEBRATES 15 YEARS

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ARCHITECTURE FOR SOCIAL CHANGE

ARE POP-UP HOMES THE ANSWER?

GAME TIME: PROPERTY’S BIG WIN

Filling the gap

CONTINUED ON PAGE 6

First-time buyers are finding increasing investment opportunities in the affordable housing arena, if they know where to look

WORDS: ANDRÉ FIORE :: PHOTOS: SUPPLIED

Dainfern Golf Estate, Sandton

Asking R9.2 million

Recently renovated large, modern home, offers light & space boasting 5 beds, 5 baths, 2 lounges, family room, dining room, open plan to a chef’s kitchen & study. Seamless glass doors onto a covered patio with jacuzzi, overlooking pool & landscaped garden. 4 Garages & staff acc. Gas driven generator.

Contact: Dermot 083 680 5286 / Dawn 082 575 9956 Web ref: 1348922

Each office is independently owned and operated

Dainfern Golf Estate, Sandton

Asking R8.5 million

A fusion of glass and concrete, this modern, spacious home offers 3 large bedrooms, all en-suite, open plan chef’s kitchen, with breakfast room, lounge & conversation room, formal dining room, family room, fitted bar and large work from home or guest bedroom en-suite. Staff acc & 3.5 garages.

Contact: Dermot 083 680 5286 / Dawn 082 575 9956 Web ref: 1432891

Steenberg Golf Estate, Cape Town

Offers on R14.5 million Bishopscourt Village, Cape Town

Attractive family home in perfect condition throughout. Perfectly situated on the estate and offering total privacy. 4 Bedrooms, 3 bathrooms, study, 3 superb reception rooms. Golf club membership included with one extra playing right. Contact Estate Specialists: Dave Burger 083 458 3333, Brenda Pretorius 083 442 1318 Web ref 1353594

www.sothebysrealty.co.za

Asking R10.2 million

Renovated with character in sought after suburb. Spacious open plan living areas leading to a large covered patio, landscaped garden and pool.

Beechwood & granite kitchen, 7/8 bedrooms (3 en-suite), pyjama lounge upstairs opening to a wooden deck with beautiful mountain views. Self contained 1 bed cottage, garaging for 4/5 cars. Elaine Dobson 082 413 7369

LIFESTYLE

Friday October 9 2015

LIFESTYLE

Touching the sky

Tokara celebrates 15 years as a winery and restaurant this month, with a revamped restaurant interior and a new spring menu. With vineyards at 400m and panoramic Stellenbosch views, this grape and olive business was built on an insistence on quality WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED

W

“We wanted all natural elements and local designers as far as possible: wood, concrete, leather and metal.

Now you feel more part of the farm outside in an organic way” Samantha Fuchs, SJF Designs

hen Tokara Estate opened its doors in October 2000, no detail was overlooked in the planning and construction of a state-of-the-art hillside winery with vineyards, a restaurant and art gallery. The figure bandied about for the building facility — incorporating one of SA’s first gravity-flow grape cellars with automated temperature control — was R80m. Industry insiders said that probably funded only the winery’s equipment bill.

Tokara’s owner, GT Ferreira, is chairman of Rand Merchant Bank Holdings, and lives with his family on the 280ha property. Situated at the crest of the Helshoogte pass on the Simonsberg, manicured vineyards curve neatly up sloping hills. Tokara restaurant overlooks these vines, presenting one of the most enviable views in the Winelands. Floor-to-ceiling glass doors open to a deck, with Stellenbosch in the background.

Chef Richard Carstens has drawn a regular lunchtime business clientele at Tokara Restaurant since he took over in 2010, while tourists reserve most of the 70 seats in season. His cooking style best fits the term crafted, with colour, flavour and playful textures underpinning dishes that offer “complexity within the simplicity”. The look is modern, incorporating a flavour of purity and Japanese elements.

NEW TASTES, FRESH LOOK Tokara’s spring a la carte lunch and dinner menu launched this week. “Summer brings beef in three ways on one plate: a cured beef, puffed beef and beef jelly dish,” says Carstens.

“Or there’s a fresh tomato dish using various varieties including some green zebra tomatoes grown in my home garden.” One enticing option is roast hake on potato with a frothy carrot-ginger sauce.

And more experimental: a chocolate mousse dessert with

dehydrated beetroot under a nut crumble.

The restaurant has a newlook interior since it reopened after winter. Working to Ferreira’s brief, Samantha Fuchs of SJF Design freshened the space. So polished concrete replaced wooden floors, and light wooden cladding continues the flow of the wooden bar to the restaurant space. “We wanted all natural elements and local designers as far as possible: wood, concrete, leather and metal.

Now you feel more part of the farm outside in an organic way,” says Fuchs.

Original tables were stripped to a raw finish, with new chairs by Haldane Martin.

Copper light forms, inspired by haystacks, soften the jarrahwood ceiling. Smart vertical felt “veins” installed next to the fireplace hide any clutter and absorb kitchen noise.

Tokara’s gallery exhibitions are curated by Julia Meintjies Fine Art, and change regularly.

Serious collectors and critics drop in to admire the investment pieces — a series of five William KentridgeMarguerite Stephens tapestry collaborations hang in the restaurant currently. The estate’s annual Wine Made Art exhibition runs until January 2016 — 25 of the best artworks produced by a local art school used Tokara Shiraz as the medium.

All olives are processed at the separate Olive Shed,

adjacent to the family-friendly Delicatessen casual restaurant.

Processed olive products (olive paste and table olives) represent less than 10% of total turnover. The bulk of production is quality extravirgin cold-pressed olive oils. Tokara’s olive oil range includes two blends and three single-cultivar bottlings.

Tokara at a glance 500 — tons of olives processed a year

1,000

— tons of grapes crushed a year

2,500

— barrels of maturing wine after harvest 2015

280ha

— Tokara Stellenbosch including cellar, restaurant, helipad, olive shed, 100ha mountain fynbos and 60ha vineyards

40ha

— collectively under vine on Tokara’s Elgin and Hermanus farms

LIFESTYLE Friday October 9 2015

DESIGN

POP-UP NATION

The BI(h)OME or similar dwellings could be the solution to SA’s urban overcrowding problem WORDS: CHRIS REID :: PHOTOS: NICO MARQUES/PHOTEKT

A

rchitects hold an ongoing interest in finding innovative ways to create quick-response housing for people in need, whether this need is because of a disaster or just the greater influx of people moving into urban spaces. These often take the form of pop-up structures that offer speedy set-up when the need arises.

While pop-ups were historically rudimentary, they’re becoming increasingly sophisticated as technology and the development of materials catches up with designers’ visions.

A recent example is the BI(h)OME project, a collaboration between an architects firm and UCLA’s cityLAB School of Arts and Architecture. It was developed as a low-cost, low-impact unit to serve as housing for households that have had to take in additional inhabitants, be they children coming to live there temporarily or older family members who have had to downscale their homes.

The designers wanted to develop a structure that could be sustainably produced and would be adaptable and easy

to install, and the result meets all of these criteria.

The BI(h)OME consists of a steel-pipe frame, wooden framed walls and a doublelayered skin made out of ETFE, a durable, recyclable plastic. Cut paper cylinders are inserted between the layers of plastic.

In SA, the local implications for this sort of design are clear: emergency relief aside, pop-up housing solutions could help to alleviate the

pressure on households that are seeking to accommodate multiple family members and other occupants within a limited space. Well-designed, responsive dwellings like these could fill a niche that people are already, often inexpertly, filling themselves.

Whether suburban South Africans are ready for the pop-up lifestyle, however, remains to be seen.

Source: cityLAB, UCLA www.bihome.ucla.edu

The designers wanted to develop a structure that could be sustainably produced and would be adaptable and easy to install, and the result meets all of these criteria

“There is a reason they say Stellenbosch is the king of Cabernet. It’s a leading variety for us at Tokara” Miles Mossop, Tokara winemaker

THE BUSINESS OF WINE Wine is serious business, with aerial mapping technology assisting in identifying optimal vineyard conditions, and a fully automated system controlling grapes in the cellar. Tokara’s white wines are elegant and food-friendly, from the racy Reserve Collection Elgin Sauvignon Blanc, to white peach buttery notes of the same label’s Chardonnay. Don’t ignore the flagship Director’s Reserve White for a special meal, barrel-fermenting adding richness to Sauvignon and Semillon.

Tokara’s wines also win competition medals. “There is a reason they say Stellenbosch is the king of Cabernet. It’s a leading variety for us at Tokara,” says winemaker Miles Mossop. Some wouldn’t resist drinking Tokara’s flagship Director’s Reserve Red 2012 now, but this wine can age (the 2004 is superb now). A smart Cabernet Sauvignon-dominated blend with Merlot, Petit Verdot and Cabernet Franc, it tastes of PUBLISHED BY THE CREATIVE GROUP IN ASSOCIATION WITH TMG

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

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

EDITORIAL TEAM Editor: Catherine Davis Creative Director: Mark Peddle

cherry tobacco. For a peoplepleaser, try Tokara’s Reserve Collection Syrah.

Wine production is so capital-intensive that the trend in modern winemaking is to produce a wine label with bought-in grapes and rented cellar space. Tokara has taken the opposite route.

The original farm was bought in 1994, with a neighbouring Stellenbosch property acquired more recently. Two farms in Elgin and the Hemelen-Aarde Valley of Hermanus were purchased later, with vines and olives planted.

Says Tokara’s marketing manager Mark Lester: “GT wants control of the quality from vineyard right through to bottle. He wanted a worldclass Sauvignon Blanc, which is how Elgin came about. He didn’t want to source grapes.

So that’s why we own the vineyards in Stellenbosch, Elgin and Hermanus. That’s also why we have an inline bottling system on the property. He wants to control the quality from a to z.” www.tokara.co.za A

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ADVERTISING SALES Michèle Jones Susan Erwee Yvonne Botha

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084 246 8105 083 556 9848 082 563 6685

COVER Friday9 October 2015

New era of affordable housing CONTINUED FROM PAGE 1 WORDS: ANDRÉ FIORE :: PHOTOS: SUPPLIED

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he rising cost of living, as well as the current strict qualifying criteria implemented by the major banks, makes affordable housing the best option for the majority of South Africans wanting to own their first home.

Says Jonathan Acutt of Acutts Real Estate: “While strict criteria by the banks prevented SA from plunging into an even deeper recession, those same policies are now preventing buyers in this market from purchasing their first home.”

Adds Willie Els of Standard Bank Home Loans: “There is a huge increase in people wanting to buy in this sector and an immense shortage of stock. While purchasers are resorting to creative ways of buying property, such as joint or co-ownership, with a partner, family members or friends, it is often difficult to find workable models to suit these.”

So why the delays in meeting the demands of this burgeoning sector of South African society?

A COMPLICATED MARKET Roughly defined as property priced at less than R1m, affordable housing has historically been a sector subject to subsidy abuse and major hindrances in target delivery. Solutions including the Reconstruction and Development Programme

and gap housing have regularly been marred by cumbersome red tape, widespread failure and sorry tales of misuse. And so the huge demand for entry-level, bondable housing remains largely unaddressed. For those with ingenuity though, despite the complications, it promises great investment potential.

James Arnott, owner operator of Arnott Consulting, facilitated the launch of Pietermaritzburg’s Beacon Views affordable housing, which, at just R450,000 per unit, sold out five years ago.

“Although we generally had to ‘sell’ the units many times over before we got a viable buyer, I still get regular calls from interested parties,” Arnott says.

“However, even with land at subsidised rates, the rising

costs of construction and the need for affordability make for narrow profit margins.”

SPIN-OFF DEVELOPMENTS In Benoni the 2012 launch of the Crystal Park affordable residential development saw spin-offs including the development of supporting facilities and BEE employment opportunities in the real estate industry.

“There remains, however, a definite need for buyer education, prior to the purchaser entering into an agreement with the banks,” says Acutt. “This educational process would not only increase the purchaser’s awareness of their own credit rating, and mean their chances of defaulting on their home loan due to poor financial management would decrease substantially, but it would help maintain and

“There is a huge increase in people wanting to buy in this sector and an immense shortage of stock.

While purchasers are resorting to creative ways of buying property, such as joint or co-ownership, with a partner, family members or friends, it is often difficult to find workable models to suit these” Willie Els, Standard Bank Home Loans

increase property values in these areas in the medium to long term.”

Els says that while there is a lot of government pressure on the banks to finance this sector, and that Standard Bank is committed to delivering, it is an area that is deemed higher risk and where people do not meet the criteria for a loan, situations can be complex.

“Many candidates have difficulties with credit rating, sometimes because they’ve been blacklisted by an unscrupulous supplier years before,” says Els. INVENTIVE SUCCESS STORIES Riaan Roos, CEO of MSP Developments in Bellville, offers multi-disciplinary residential solutions that combine integrated community lifestyle, top security and convenience at price points between R650,000 and R2m. This model is attracting a 40:60 split of investors, who are taking advantage of the vast buy-to-let opportunities, and owner-occupiers.

Says Roos: “Our affordable housing division serves historically disenfranchised communities where demand now outstrips supply due to the positive effects of BEE. Across all sectors security is a key requirement and this has pushed us to reinvent how we approach affordable housing developments.

The market in numbers 90% — of top 10

property areas in R500,000-R700,000 low-cost development segments are located in Gauteng

7% — increase in 2015 developments priced up to R500,000

6%

— increase in 2015 developments priced up to R700,000

9%

— growth in interest from Q1 to Q2 2015, using online views as proxy, in developments priced up to R500,000

9% — growth in

interest from Q1 to Q2 2015, using online views as proxy, in developments priced up to R700,000

21%

— increased online searches of lowcost developments from Q1 to Q2 2015 Data supplied by Private Property

Friday9 October 2015

“Genesis is enabling employee housing through linking developers, financiers and employer groups with state housing grants especially designed to assist employees to move into houses” James Arnott, specialist development consultant, Genesis Corporate Trust

Belladonna Estate in Blue Downs is a prime example: we developed a secure estate environment and then also established a home owners’ association that serves to bind the community into a collective. The association looks after common interests such as security and the overall upkeep of the area.

“This inclusive approach not only addresses the security needs of the people, but it also serves to drive up property values. In so doing we directly contribute to true economic empowerment of our buyers through the appreciation of the value of their homes.

“In traditional suburban markets, construction inflation is precluding increasing numbers of firsttime buyers from entering the residential market.

We use our strong balance sheet along with innovative financial models to make buying a house, townhouse or apartment truly affordable.

In Buh-Rein Estate, in Cape Town’s northern suburbs, for example, our turnkey model means buyers need not put down a single cent to acquire a home. We facilitate 100% bonds and we only transfer properties upon completion, so that buyers only need to budget for an instalment after they get the benefit of occupation. The scale of our operations further enables us to drive down material costs so that we can offer our clients unbeatable value for money.”

Robert Ventress, CEO of Genesis Corporate Trust, takes another inventive tack, calling for corporate investment through increased employer involvement in housing delivery. “This can only be a win-win situation,” says Ventress. “By moving employees to peri-urban homes close to their place of work, travel time and costs are minimised, employee contentment and

productivity increase, and companies can control bond repayments at salary level.”

James Arnott, who was a specialist development consultant to Genesis says: “Genesis is enabling employee housing through linking developers, financiers and employer groups with state housing grants especially designed to assist employees to move into houses.

“We offer a shopping list of support to our corporate members and we are active behind the scenes, participating in land tenure, developer forums and stateplanned projects to ensure reservation of serviced sites for local employer groups,” says Arnott.

“Our services extend also to community education such as pre-qualification and debt counselling, making the Genesis offering a real, exciting and sustainable investment opportunity for corporates.”

79 007 properties under R1Million. Find yours.

A home for everyone www.privateproperty.co.za

PROPERTY TREND Friday October 9 2015

East Coast Architects, Durban, won a merit award for their reinvention of Vele Secondary School, Limpopo.

Architecture to make a difference Saint Gobain’s recent Architecture for Social Gain Awards competition for local architects drew some landmark entries and offered a telling insight into the workings of South African communities WORDS: ANNE SCHAUFFER :: PHOTOS: SUPPLIED

J Local Studio’s Outreach Foundation Community Centre in Hillbrow.

“It’s one of the first social infrastructure projects to be built in Hillbrow since the ’70s. Our client does incredible outreach work with inner-city youth and wanted the building to function as a lighthouse for the community” Thomas Chapman, Local Studio

ohannesburg architects Local Studio work extensively with social facility projects using alternative construction methodologies. Architect Thomas Chapman believes the benefits of working in this way are becoming increasingly visible, as more and more vital social facilities are brought to needy communities.

“I see Africa/SA as becoming something of a laboratory for innovations in construction. This is different from developed countries where fewer social projects are being built, and the construction industry is a lot more regulated in ways that block innovation,” he says.

Local Studio was one of the winners of the first Architecture for Social Gain Awards, sponsored by construction materials manufacturer Saint-Gobain.

The group’s MD Evan

Lockhart-Barker described the awards’ credo as “promoting and celebrating architecture that positively effects the integration of community and environment, for the long-term benefit of both people and planet”. In a nutshell, architecture for

social change or gain.

The contest parameters were clear: design spaces that promote learning and development, specifically in the areas of education, community and development.

There were 33 entries across three categories: built, future and adopt-a-school.

BUILT Local Studio took the Built trophy for their Outreach Foundation Community Centre in Hillbrow. “It’s one of the first social infrastructure projects to be built in Hillbrow since the ’70s. Our client does incredible outreach work with inner-city youth and wanted the building to function both physically and figuratively as a lighthouse for the community.

The primary construction system is lightweight steel and the building is clad in a white corrugated iron and clear polycarbonate combination, which contributes to the ‘lighthouse’ effect. The building houses a computer

centre, dance studio and meeting rooms as well as a rooftop amphitheatre,” says Chapman.

Lessons learned at the centre can be applied elsewhere. “We really came to grips with the possibilities and limitations of steel construction, which is ideal for social facilities. If done correctly, it can result in shorter timelines and lower costs than traditional methodologies,” says Chapman.

He believes social gains were achieved primarily due to the functions housed, so are more a credit to their client than to Local Studio as architects. “Our aim was to choreograph these functions in a way that made the building friendly and approachable on the one hand, but a striking visual landmark on the other.

Our view is that socially responsible architecture should always demonstrate a meaningful connection to the public realm, and contribute to the safety, energy and identity of a neighbourhood.”

FUTURE Cape Town-based Noero Architects lifted the Future trophy for designing plans for the Transitional Living Centre in Pietermaritzburg, providing a stepping stone from institutional to community-based care for people with intellectual disabilities or mental illness.

The Pietermaritzburg Mental Health Society wants to create this purpose-built residential facility to provide a safe supported-living space.

Jo Noero believes people with intellectual disabilities and mental illnesses need to be empowered with rights to the same range of opportunities, choice and control over their lives as enjoyed by the rest of the population. “The majority can’t live their lives without their personal freedom being compromised by being confined to an institution, or left to fend for themselves in a world that doesn’t easily accommodate their needs,” he says.

“A primary concern here is to achieve a high-quality design which will also serve as an inspiration and catalyst for future projects and

Noero Architects’ design for The Transitional Living Centre in Pietermaritzburg.

PROPERTY TREND Friday October 9 2015

Analyse it WORDS: PATRICK CAIRNS

Increase spend on infrastructure and win

I Motshegofadiwa Primary School reinvented by Kate Otten Architects.

“The most critical thing is that the money is spent sustainably, so it doesn’t go to waste. For this to happen, there has to be buyin and collaboration with the community” Kate Otten, Kate Otten Architects generations,” said Noero.

The architects explored how to use “productive landscapes” to offer dignity and hope to patients in a marginalised community to allow them to be in charge of basic needs that sustain everyday life.

“Spatially the project allowed us to examine the way in which these kinds of spaces could be integrated into other everyday activities so that no real barriers can be said to exist between these uses.”

ADOPT A SCHOOL Kate Otten Architects won the Adopt-a-School trophy for the Motshegofadiwa Primary School in Hammanskraal, a school sponsored by SaintGobain that is yet to be built, using materials provided by Saint-Gobain.

“We usually work with locally available skills and materials, employed in an inventive way. This time because the project is sponsored, it’s an opportunity to achieve a higher building performance for the schools,”

says Kate Otten. As SaintGobain offers skills training, Otten believes this presents new partnership possibilities for developing skills in local communities.

“It’s essential that communities participate — this ensures a sense of ownership of the project and the desire to look after the facility and maintain it properly. Listening to a client’s needs and involving them in the making of their own space is critical — regardless of whether it’s a private house or a community social-gain project.”

Otten hopes Saint-Gobain’s sponsorship of the school sets a trend for corporates to spend a percentage of their earnings on “these social projects that have the potential to substantially change lives”.

“The most critical thing is that the money is spent sustainably, so it doesn’t go to waste. For this to happen, there has to be buy-in and collaboration with the community,” says Otten.

Building brighter educational futures East Coast Architects in Durban won a merit award in the Built category for their reinvention of Vele Secondary School in Limpopo. Using the same budget allocated to a typical government school, this public school was rebuilt using a campus layout that facilitates the sharing of amenities with the community and surrounding schools, and a wide range of “tools” to ensure sustainability.

Tellingly, the school’s matric pass rate increased from 38% in 2009 to 93% in 2014. The project has received recognition locally and overseas, and was first runnerup for the 2015 “Greenest School on Earth Award” by the US Green Building Council.

Says architect Steve Kinsler: “If through good design we can use resources sparingly for the planet then we’re also saving a community’s limited financial resources, thereby allowing a better spend on the business at hand — in this case: teaching and learning.

“Schools in these areas have the vast potential to serve, not only as educational institutions, but also as centres of the community; vibrant hubs that radiate opportunities for learning and growth to members of the surrounding community.”

Vele is in a remote part of the Soutpansberg Mountains.

It was designed and built to include the communities of four surrounding villages.

t is a key part of any functioning economy and, essentially, infrastructure is the foundation on which everything else is based. If you don’t have the proper requirements in place, your economy struggles. There is no better example of that than SA’s ongoing electricity supply problem.

If you turn that on its head, however, building new infrastructure has a multiplier effect on economic growth. In simple terms, every R1 spent on infrastructure results in more than R1 being added to economic output. The perfect example of this is modern China. The huge growth story that has played out there has been based on massive amounts of fixed-capital spending, sometimes to the extent of building entire cities from scratch.

That is why infrastructure is such a key part of the National Development Plan (NDP). SA recognises that it has to increase spending on infrastructure, both to resolve existing shortfalls and to stimulate future economic growth. The challenge is that the government doesn’t have enough money to meet the requirements on its own.

The NDP has set a target level of infrastructure spending at 30% of GDP to achieve economic growth of 5,4% by 2030, but figures from Stanlib show that infrastructure spending last reached these levels 40 years ago.

The government also has a record of underspending its budgeted infrastructure allocation. Estimates show that in 2012 to 2013, the government spent only 85% of the R255.6bn it had set aside. This is a problem, but it is also an opportunity for the private sector. Public-private

partnerships (PPPs) offer a potential solution where risks, responsibilities, resources and skills are shared between the government and private investors.

SA’s renewable-energy programme has already shown how well this can work. A total of 92 projects, all privately funded, built and managed, have been approved since 2011.

This represents a total private sector commitment of R193bn.

The private sector hasn’t come forward with this money out of a sense of obligation or charity: it has been eager to participate because of the potential returns it can earn.

The result is that the country benefits from private sector technology, innovation and knowledge. This improves efficiency and enhances public services while taking some of the strain off the government.

It only works, however, when the private sector sees the potential for enticing returns on its investment. That is where the government has to play its role. If it can create the right incentives and the right framework, the potential for symbiotic relationships with the private sector can be a win-win for everybody.

In 2012 to 2013, the government spent only 85% of the R255.6bn it had set aside. This is a problem, but it is also an opportunity for the private sector

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FOCUS ON GREENSTONE RIDGE October 9 2015

All-round value at Greenstone Ridge The value of a home is about so much more than a return on investment. A home must add value to all aspects of its residents’ lives, including comfort, practicality, security and lifestyle WORDS AND IMAGES: SUPPLIED

GET IN TOUCH

Contact Balwin Properties development executive, Slade Brookes on 083 612 2515 or slade@balwin.co.za, or visit him on site on show days – Wednesdays, Saturdays and Sundays from 2-6pm. For more information visit www.balwin.co.za

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ituated in Greenstone on Johannesburg’s East Rand, Greenstone Ridge offers homeowners all-round value; from the stylish and spacious one-, two- and threebedroom apartments, to the on-site lifestyle centre and its many leisure, entertainment and sporting facilities.

Developed by Balwin Properties, Greenstone Ridge is ideal for a wide range of homeowners and investors.

SOMETHING FOR EVERYONE Busy single professionals wanting a modern convenient lifestyle enjoy the time- and money-saving value of access to an on-site Discovery Vitality gym, squash court, and fitness track, for the exclusive use of residents.

Young couples looking for their first home together love the added value of Greenstone Ridge’s WiFiready apartments with free eco-friendly appliances and smart meters.

The 24-hour physical and electronic security of the estate, along with the familyfriendly swimming pool and braai area, and children’s play area, attract small families in search of a safe social environment for their children to grow up in.

Mature couples looking to invest in a home to retire in are impressed by the leisure facilities such as the Amici restaurant and Camelot Spa, and the easy access to shopping and healthcare facilities nearby.

Like all Balwin Properties’ other developments in Johannesburg, Pretoria and Cape Town, Greenstone Ridge has been designed and built to Balwin’s exacting high standards of location, quality and lifestyle.

Greenstone Ridge has already shown homeowners and investors exceptional financial value since it was launched, proving that it truly offers all-round value.

“Young couples looking for their first home together love the added value of Greenstone Ridge’s WiFi-ready apartments with free eco-friendly appliances and smart meters”

FOCUS ON GREENSTONE RIDGE October 9 2015

INTERNATIONAL Friday 9 October 2015

Durban’s Moses Mabhida Stadium will be a key feature of the Commonwealth Games.

The real winners of international sporting events Despite the price tag, Durban hopes that its successful Commonwealth Games bid means the city’s residents will benefit in the long term WORDS: LEA JACOBS :: PHOTO: DARREN GLANVILLE

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he news that the 2022 Commonwealth Games will be held in Durban hasn’t been universally welcomed. Although there is little argument as to the prestige of events such as the Olympics, the FIFA World Cup or the Commonwealth Games, the costs associated with providing the necessary infrastructure to pull off these events are enormous. Glasgow in Scotland, which hosted the Commonwealth Games last year, reportedly spent £472.3m on the event. It’s been estimated that Delhi, the 2010 host, spent a staggering $9.1bn.

There has been much written about the costs associated with any form of international sporting event.

But governments justify the enormous expense by highlighting the economic benefits the host country will enjoy. The question is: do these purported benefits trickle down to the masses and if so, how much do the people of Durban stand to gain in terms of increased tourism, property sales and the like? eThekwini Municipality city manager, Sibusiso Sithole, said the benefits of the games had to outweigh the costs of hosting it. “We learnt from hosting the World Cup that we must not exaggerate the benefits of hosting these events,” he said. Wise words indeed — given what happened to the property sector here before, during and after the 2010 FIFA

Glasgow in Scotland, which hosted the Commonwealth Games last year, reportedly spent £472.3m on the event. It’s been estimated that Delhi, the 2010 host, spent a staggering $9.1bn

World Cup. Although there was a general perception that demand for South African property would soar on the back of the tournament, this certainly didn’t happen on the scale envisaged by the average estate agent and landlord. Yes, some areas such as the Atlantic Seaboard undoubtedly attracted some foreign investment. However, for the most part, fans came to the country, brought and spent their foreign currency and left without making any decision to buy a home here.

PROPERTY JUMP OR SLUMP? So why do people assume that property prices are going to rise dramatically simply because a city has hosted a major event? For example, much has been made of the increase in property prices in Manchester after the Commonwealth Games were held there in 2002. What is forgotten is that property prices were soaring because of the property booms most countries were experiencing at the time, so there were extraneous factors at play.

Yet London’s Olympic

Property scorers England’s hosting of the 2015 Rugby World Cup is having a positive price impact on London’s residential areas situated near tournament stadiums.

The Stadium, Queen Elizabeth Olympic Park, Stratford

£310,863

average house price in 2010

£421,542

average house price in 2015 (35.6% increase)

Twickenham Stadium, Twickenham

£433,527

average house price in 2010

£557,305

average house price in 2015 (28.6% increase)

Wembley Stadium, Wembley

£324,921

average house price in 2010

£417,013

average house price in 2015 (28.3% increase) Source: www.urban.co.uk

H

Park did regenerate the East London area and boost its property prices. A recent analysis by Lloyds Bank shows that property prices in areas surrounding the Olympic Park increased by nearly £1,500 per month, from when London won the Olympic bid in July 2005 to March 2015.

After the Olympic Games ended in September 2012, the average price in 14 East London postal district areas outperformed London as a whole with an increase of 33%, compared to 25% in the capital. Over the same period, average property values in England and Wales increased by only 12%.

INFRASTRUCTURE INJECTION But what happens after the tournament also plays a role. It’s not just sporting amenities that get an overhaul in preparation for an event of this magnitude. Transport facilities are improved, housing to accommodate the large number of athletes is built, and the city concerned undergoes a complete facelift.

Glasgow is a perfect example.

The Athletes Village, home to some 7,000 athletes and officials during the games, was built in an area renowned for its social problems.

Derelict houses and high rises were flattened to make way for the new development.

Although there was criticism from some quarters, there can be little argument that the end result isn’t only more pleasing to the eye, but that it has benefited the local community enormously. A total of 700 homes were built on the 33ha site. Of these, 300 are now private homes and 400 are rented out as part of Britain’s social rent scheme, and there’s also a 120-bed care home for the elderly. In essence, the slum has been upgraded and the area has been totally transformed. Similarly, East London’s areas have benefited from hosting the Olympics through the addition of a highclass retail environment and a massively improved rail and tube network.

No one can deny that Durban’s citizens benefited from the FIFA World Cup. They may not have made a fortune while the event was underway, but there are certainly lifestyle spin-offs now. The entire beachfront area was uplifted and remains a popular place for locals and visitors to while away a pleasant hour or two at restaurants or some of the other amenities on offer.

What was once regarded as a no-go area by many now attracts people from all walks of life. The city also boasts one of the most architecturally impressive stadiums in the country. It’s time for Durban to shine and if the improvements seen after the FIFA World Cup are anything to go by, the city will radiate brighter than ever post-2022 Commonwealth Games.

HOMEFRONT

Marketplace From sea to suburb to city, Chapter 8 the country’s most beautiful Chapter 8 homes await you Home loan Home loan application process application process

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At The Houghton, everyone has a view…

Visit our luxury residential apartments at The Houghton which offer stunning skyline views and leisure spaces like golf and running paths. The Houghton is a load shedding-free zone, and will encompass The Houghton Hotel, a member of The Leading Hotels of the World, with its gym, spa, pools, deli, skybar lounge and restaurants.

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ON SHOW DAILY – LIFESTYLE OPPORTUNITIES FROM R3,9 MILLION Visit the latest apartments on Saturday and Sunday.

SHOW APARTMENT Unit 12118, The Houghton on the 12th, 53 2nd Avenue, Houghton Office – 011 034 2201 || Alan Becker – 082 718 8100 Email – alan@thehoughton.com

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GAUTENG ONE ADDRESS – INFINITE PLEASURES Glistening city lights, colourful sunsets, uninterrupted views, and urban delights. – This glorious home puts the world at your fingertips. Indeed, location is everything. Situated in a 24 hour guarded and gated enclave, this totally secure home offers superior design, exceptional finishes and a lifestyle of ultimate luxury. The wonderful living rooms with sheets of glass and amazing views of the spectacular garden. From the wonderful kitchen with breakfast room, to the sophisticated bedrooms with beautiful bathrooms, this incomparable residence is proof that a new era in pampered living has arrived. Plus, it’s a stone’s throw away from Redhill School.

MORNINGSIDE R11.5 million

BEDROOMS: 5 BATHROOMS: 5 Norma Robinson 082 554 7260 011 656 0888 Web Ref: 93260

WESTERN CAPE AN IMPRESSIVE CLASSICAL DOUBLE STORY, IMMACULATE, NORTH-FACING. From the elegant gates, you sweep past rolling lawns to a gracious entrance. Sunny reception rooms, all open plan, flow out onto a lovely wrap-around patio, overlooking the pool and lush private garden. An eclectic mix of modern Brazilian Teak finishes turns this large kitchen into an inviting spacious ‘heart-of-the-home’. Beautiful wooden bespoke windows are an exceptional design feature of this home. Upstairs boats 4 luxurious bedrooms, with mountain views, 2 of which are en-suite to glamourous bathrooms. Extra features include a borehole serving a computerised irrigation system, and extensive layers of security.

UPPER CONSTANTIA R10.2 million

BEDROOMS: 4 BATHROOMS: 3 Charne Shipper 083 274 6336 Ingrid Hoaten: 082 490 6246 Web Ref: 95532

WESTERN CAPE SPACIOUS HOME IN PRIME POSITION ON DELTACREST EQUESTRIAN ESTATE

FRANSCHHOEK R8.9 million

This superb north facing home offers spacious living with an exceptional flow between the indoor and outdoor areas. An imposing double volume entrance hall with bold double-sided fireplace welcomes you from which the master suite, a study, guest cloakroom and the large living and dining areas flow. French doors extend the living space to the functional courtyard with pool, braai facility (wood and/or gas) and large garden. The upstairs area has a separate entrance and comprises a living area with gas fireplace, 2 bedrooms en-suite and a small separate study nook. All rooms have underfloor heating and air-conditioning and the master bedroom is also fitted with a gas fireplace. This comfortable and secure lifestyle is complemented by the magnificent mountain views, manicured grounds of the estate and well-maintained stables and paddocks.

BEDROOMS: 3 BATHROOMS: 3 Anita Wessels 076 079 9077 Web Ref: 95614 RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS