Business Day Home Front 17 June 2016

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FRIDAY, JUNE 17 2016

HOMEFRONT PAGE 2

PAGE 4

FOOD AND ART AT MULBERRY & PRINCE

EXPLORING FRACTIONAL OWNERSHIP

PAGE 9

INDEX POINTS TO A HOUSING RECOVERY

PAGE 9

RETAIL PLUS: VAAL MALL EXPANDS

Cut your electricity costs With prices escalating, an unreliable power supply and the effect energy consumption has on the planet, homeowners and residential developers are wondering whether it pays to spend so you can save on electricity WORDS: ANNE SCHAUFFER :: PHOTO: ISTOCK

CONTINUED ON PAGE 8

WINTER IS A TIME FOR COMFORT GOOD FOOD

and a talk beside the fire

home

IT IS THE TIME FOR

HEAD OFFICE Tel: +27 11 728 7013 Fax: +27 11 728 2983 46 Central Street, Houghton, Johannesburg, South Africa Find us on Facebook (Adrienne Hersch Properties) Follow us on Twitter (@adehersch) W W W. A H P R O P.C O. Z A

DESIGN

Friday June 17 2016

T

Making their debut From its clean décor and furniture to thoughtfully tasty plates, a Cape Town restaurant is putting two young chefs on the city’s food map WORDS: KIM MAXWELL PHOTOS: KARL ROGERS AND MICKY HOYLE

he name was inspired by two major streets in Manhattan. But the charcoal-painted Mulberry & Prince Kitchen and Bar exterior is part of a Cape Town inner city strip of buildings on Pepper Street, between buzzy Bree and Loop.

Its co-owners and co-chefs Cornel Mostert and Cynthia Riviera formed a connection while they were both studying in America. He is Capetonian; she grew up in Brooklyn.

They share a keen eye for design and the desire to put a flavour stamp on their plates.

Says Mostert: “Everything in the restaurant is combining myself and Cynthia, from the playlist to the food and décor. We spend 16 hours of our day here so we may as well make it comfortable.”

Tastefully plush is probably a more accurate description. The brief to Adri van Zyl of Atelier Interiors was to create an intimate dinner spot to complement Mulberry & Prince’s modern shared cuisine, so she opted to incorporate “dirty pinks, lush velvets and an eclectic mix of custom and modernist furniture within a white gallery setting”. There is texture in sections of original walls (the building dates to 1793) and stained wood tables custom-made

by Pedersen and Lennard.

Stained glass panels at the bar and above the kitchen pass are eye-catching — and unusual for a restaurant.

Designer Conrad van der Westhuizen constructed the panels, distinctive lighting and some copper dining tables. Explains Van Zyl: “We felt that the stained glass and metal (beaten copper and brass panels) would really add some understated glamour, and be in keeping with the style of cuisine the chefs were going for.”

Artist Kurt Pio’s artworks introduce vibrancy and metallic glitz on the walls — they also inspired the restaurant’s colour scheme that includes a front door painted dusty pink. “Kurt was part of the project from the beginning as we wanted his work and he created them for us,” says Rivera.

Two will eat well at Mulberry & Prince but the small menu lends itself to three enjoying a shared selection far more.

It is food that sometimes hides complex techniques.

Bacalao fritters are balls of umami fun. There are fresh elements to sliced kohlrabi with walnuts, shaved Parmesan and mint, balanced by persimmon or apple sweetness. Labourintensive ricotta dumplings have a lightness of touch, served with dainty shimeji mushrooms in a pool of leek and scallion green sauce.

Steak tartare or aromatic lamb ribs both have their culinary merits. A sous vide

DESIGN Friday June 17 2016

“Designer Conrad van der Westhuizen constructed the panels, distinctive lighting and some copper dining tables”

Introducing chefs Cornel Mostert and Cynthia Riviera Where and how did you meet? Mostert: At The Culinary Institute of America in New York, in the same class.

Why Cape Town and why now? Riviera: We’ve been friends for some time and we always talked about doing something together. It was about not wanting to work for other people and do their menus any more. We had so many ideas so we thought: why not try it out?

pork shoulder steak in broth is all about comfort, but has an element of surprise in unusual cucumber lengths with their skins charred black.

You will remember the sweets. The perfection of buttermilk panna cotta lifted by cherries in hibiscus vinegar. A wickedly moist chocolate cake cloaked in French chocolate ganache, whipped cream and sea salt.

Much like the restaurant, the eating experience is about pared down elements with beautiful accents that linger. mulberryandprince.co.za

around the table. It creates a spontaneous vibe.

Any overlaps with the New York and Cape Town dining scene? Riviera: Bree Street, around the corner, has a lot of similarities with Bedford Avenue in Williamsburg, Brooklyn. Brooklyn is kind of what Bree street is turning into: restaurants, boutiques and street artists. But the food is still quite different.

Your concept for a local restaurant? Mostert: Something different, while introducing diners to modern American cuisine aside from burgers and fries.

Some of our ingredients wouldn’t be on most Cape Town menus. Endive, kohlrabi, stracciatella cheese ... We like to order oysters or beef tartare when we eat out, so that’s why we serve it.

The menu is designed with small to mid-sized plates for sharing. It’s how we like to eat, where everybody shares

How do you divide the roles?

Mostert: It’s only Cynthia and I in the kitchen. For dinner service I work the hot line. Cynthia usually does the cold salads and desserts, but we mix it up and help each other too.

You are both young to own a restaurant. How do you rate your chances? Riviera: Sometimes we’ve felt that because we are young people don’t always take us seriously. It’s annoying because if we weren’t sure that this was what we wanted, we wouldn’t have taken this chance. We aren’t prepared to accept mediocre standards, whether it comes to the products from purveyors or anything else.

Many of the dishes seem quite minimalist and fresh.

Mostert: We’ve tried to keep it clean and simple. But if you look further, it is often quite complex. For example, the ricotta gnudi dumplings take three days to make by hand.

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INVESTIGATION Friday 17 June 2016

Would you fork out for fractional ownership?

CALCULATING THE COST

It’s been equated incorrectly with timeshare but offers more than just a luxurious holiday in a fabulous resort. Today fractional ownership extends to game resorts and residential estates. But at what price?

Pam Golding Properties advises the following important calculations as a rule of thumb for potential fractional ownership investors: Multiply the number of fractions in one unit with the asking price for the fraction. The total sum should not exceed 1.5 to double the price you would pay if you were the sole owner of the property.

WORDS: GAVIN FORD :: PHOTOS: SUPPLIED

T

he concept of fractional ownership was conceived in the US during the 1980s as a way to share access to the benefits of a “super luxury” lifestyle.

Originally with yachts and jets in mind, the investment model branched out into premium real estate. By the 1990s, fractional ownership had become an attractive solution for affordably enjoying exclusive property offerings, with added value, at top holiday hotspots.

“Fractional ownership offers you an alternative to renting a secondary home or hotel suite, with the prospect of receiving potential capital growth on your property,” says Rob Stefanutto of Dogon Group Properties. Investors buy into professionally managed residential golf estates, seaside or ski resorts and game farms — at a fraction of the full market price, enjoying clubhouse, and in many cases, spa facilities as well.

Annual usage usually varies from three to 12 weeks. The most important distinction between fractional ownership and timesharing, however, is that shareholders have legal title to an asset instead of simple usage rights. Investors get a proverbial foot in the door without the expense of owning an entire property with its associated levies, rates and taxes. Upkeep costs are shared — which is practical, especially since the property is not constantly tenanted by the part owner.

THE POPULARITY STAKES Although it is a popular investment option in Mauritius and the Seychelles, it may have become less so in SA due to an unscrupulous rogue trader who tarnished the concept’s reputation several years ago. Properties were sold under the banner of fractional ownership without the developer having disclosed that they were bonded. When the banks foreclosed on the properties as a result of the knock-on effect of a bear market, fractional owners were faced with unexpected additional costs to service. Even after out of court settlements the affected shareholders were left with losses of

Multiply the number of days of your annual usage right with the rate you would pay for similar accommodation in a fully serviced hotel offering the same standard and quality of service. Deduct the annual membership fee from this annual value and you will arrive at an adjusted annual value. If you divide the purchase price by the adjusted annual value, you will arrive at the number of years you will need to pay off your initial purchase price.

Globally this payback is between four to seven years, which effectively equates to a return on investment of 15%-25%.

LEVELS OF LUXURY Real estate fractional titles are available in three categories of ownership and usage structures:

up to 20% on their initial investment. The lesson learnt is to only invest in turnkey projects that are signed off, unencumbered investments.

Stefanutto has further cautionary advice. He says: “You may not be able to get the weeks you want that fit in with the peak holiday seasons as these would be popular with all the owners, and, on reselling, you also need to find someone with a requirement profile matching the weeks that you have available.” Some schemes, however, provide for a rolling roster system that allows joint owners to enjoy usage at different times of the year, meaning that all shares in a property are viewed on an equal footing.

Pam Golding International CEO Andrew Golding comments that one of the most important factors bearing on the success of this investment model is “a

secondary market … where the primary owner of the fraction is in fact able to sell or liquidate their investment to the next owner”. And this, he adds, is where the limited size of the South African market has placed constraints on the success of what might perhaps have been a growing and evolving property class.

MAKING A MATCH Fancourt Golf Estate in George has nonetheless sustainably been running a fractional product for more than 20 years.

Chris Immelman, MD of Pam Golding Properties International and Projects Division, is of the opinion that the important benefit of fractional ownership is being able to share the expenses in running a leisure property despite needing to put up with the wants and needs of fellow shareholders. The Dogon Group is currently

“Fractional ownership offers you an alternative to renting a secondary home or hotel suite, with the prospect of receiving potential capital growth on your property” Rob Stefanutto, MD, Dogon Group Properties offering fractional ownership in several units in the Petit Village project in Franschhoek, where they suggest that a group of friends acquiring a property under the scheme would offer a more flexible usage roster and matching of interests.

In the final analysis, participating in a fractional ownership scheme as a lifestyle investment can be a good money-saving alternative to whole ownership, specifically for families — if you choose one that’s well structured and

managed, while taking care to heed potential pitfalls.

When considering this type of investment, ensure that you purchase through a reputable real estate group and check that income received through renting out the property (during your unused weeks) covers the annual maintenance levy or running costs.

Also keep in mind that not all fractional ownership properties may be exchanged, so be sure that you will be happy about going to the same destination every year.

Classic fractions, or the Syndication model Shared ownership and exclusive usage of luxury holiday property such as a serviced holiday home, luxury hotel or guesthouse. Unit costs start at about R200,000, up to about R250,000.

High-end fractions A portfolio of properties offering flexible usage and added luxury hospitality services as well as inter-portfolio and international exchange.

Unit prices range from R350,000 to R475,000.

Private Residence Clubs The upper tier of the luxury fractional market, providing the services of a five-star hotel including a dedicated concierge, exclusive access to a luxury boat, helicopter or, in some cases, a private plane, global exchange and more. Prices from about R700,000 locally and about $250,000 internationally.

WESTERN CAPE Waterfront 021 439 7415 / Southern Suburbs 021 673 4200 / Noordhoek 021 789 1921

The Waterclub / R32.5 million

Ref# AS1270894

Bedrooms 3 / Bathrooms 2.5 / Garages 2 / Exclusively marketed by Pam Golding Properties. This timeless garden apartment is situated at the water’s edge with its own private mooring on your doorstep.

This premium property offers spacious bedrooms. The master suite and living areas flow to a large entertainment patio with an exclusive use garden area. Lavish sized kitchen. Storeroom and an electric lockup garage.

Kim Bailey 083 448 2632 / Paul Levy 083 300 3001 / Mariël Burger 082 372 2573

Constantia Upper / R10.5 million

Ref# KW1270195

Noordhoek / R7.75 million

Ref# NH1264762

Bedrooms 4 / Bathrooms 3.5 / Garages 2 / A small security enclave. This well-designed family home offers copious quality accommodation and is set in a secure enclave of 3 homes. Offering easy living with wonderful entertainment flow to a covered verandah, pool and tranquil garden..

Bedrooms 5 / Bathrooms 4.5 / Garages 2 / Thatch extraordinaire. Spacious baronial home ideal for the large family. Fabulous sea views, a natural mountain pool and dam set in an extensive 4 814 m² indigenous garden. A great lifestyle close to both Cape Town and the airport.

Sole Agents: Angie Bloom 083 678 7876 / Arie Kadé 083 448 0488 / Lauren Clark 083 306 3830

Lilian Bron 082 377 3725

ADVERTORIAL

Friday June 17 2016

ADVERTORIAL

Facilities management is a core part of any property business as it is about good impressions. Broll has helped entrepreneur Letty Ngobeni of Integrico to put her best foot forward PHOTOS: SIPHIWE MHLAMBI AND SUPPLIED

Maintaining properties to make a difference

Broll Property Group is one of Africa’s leading commercial property services companies.

Broll’s services include auctions and sales, corporate real estate services, industrial, investment and office broking, as well as property management, retail leasing and projects and shopping centre management, valuation and advisory services.

FACILITIES MANAGEMENT Broll Facilities Management is one of Broll’s most successful divisions. Dedicated to the coordination of functional space, this allows their clients to focus on their core business. In addition to being property management agents for a portfolio of blue chip corporate and industrial property buildings, Broll Facilities Management is responsible for turnkey outsourced management to facilitate improved core business delivery for corporations.

With operations across subsaharan Africa and its affiliation to international real estate and investment firm CBRE, Broll can

offer unrivalled global market knowledge to benefit clients.

Says Malcolm Horne, Group CEO of Broll Property Group: “We are committed to empowering small business development. To this end, we partner with SMMEs across all sectors in our business by providing training and support as a catalyst for empowerment and job creation.”

Entrepreneur Letty Ngobeni of Integrico is a “success story” where Broll has empowered her business through training and mentorship in line with skills needed in Broll’s Facilities Management operations.

Broll Facilities Management’s system successfully implements a skills development programme while servicing their clients’ requirements.

“Our MTN portfolio led us to Ngobeni and this partnership grew from her managing one site to overseeing a number of MTN sites nationally on behalf of Broll,” says Broll Facilities Management portfolio director Mel Barends.

ADVERTORIAL

Broll Property Group in numbers R220bn —

value of assets under management

40,000,000

— square metres under management

17 — sub-saharan

African countries where Broll operates

2,000 — Broll employees

30bn

— assets overseen by Broll Facilities Management

1975 — the year Broll Property Group started

Friday June 17 2016

Q&A with Integrico owner Letty Ngobeni What services does Integrico offer? Building maintenance, cleaning services and garden services. We provide Broll with a full range of maintenance services (such as building and electrical installation and maintenance). We offer plumbing installation and maintenance, roof leakage detection and repairs. We do damp and waterproofing, dry walling, partitioning, ceilings and painting.

When did you launch? I started Integrico in 2007. I did several industry-related courses and I am an entrepreneur. My secondary school teacher experience in business economics, accounting and organizational management provided me with grounding to build and grow the business.

Why this business? To care for properties and for the love of clean, well-maintained buildings and gardens. We understand that a company’s property is more than monetary value but is an extension of its brand, employees and stakeholders. One of a

“Our MTN portfolio led us to Ngobeni and this partnership grew from her managing one site to overseeing a number of MTN sites nationally on behalf of Broll” Broll Facilities Management portfolio director Mel Barends

company’s key investments is the value of its buildings. The physical image of the company is a mirror to the world, that is why we partner with companies to extend the value of their properties both inside and outside thus bringing to life Integrico’s brand promise “on hand on time”.

Do you have a typical building maintenance team? We have qualified technicians, plumbers, electricians and handymen, supported by experts with area managers, project managers and operations managers. Broll is contracted to render facilities management for MTN, which they outsourced to us. Our footprint extends to all MTN corporate buildings, retail stores and privately owned stores including malls and airports in SA. We have a staff complement of about 100 employees including 40 women.

How do they operate? We add strategic value to Broll in a number of ways: we work with companies to maintain their buildings sustainably and responsibly. Our approach is proactive, starting with a building audit, maintenance, rollout and implementation plan. For instance, a professional handyman is assigned to the site, supported by experts.

Technicians are allocated based on the building audit.

All maintenance issues are attended to instantly, which allows the client to focus on their core business without being concerned about maintenance

issues, small or big.

Who are your clients? Broll is our biggest client; we service MTN SA on their behalf. We provide a full spectrum of maintenance services to other corporate clients including SABC in Pretoria (cleaning services) and Auckland Park (maintenance services).

Your company is 100% owned by a black woman, with a BEE level one rating. Why is that important? It contributes to the transformation of the business landscape in SA. Building maintenance is the traditional terrain of men. Our entry in the maintenance industry proves that women can do it even better. By our very nature we are caring, resilient and we pay attention to detail; we bring that feminine touch to our work. We successfully decommissioned a four-storey building in Sandton.

We are starting to get offers from big companies for a stake

in Integrico, which is probably an indication that we are doing something right.

How has Broll Facilities helped you as a national player? Broll took over the contract for MTN’s facilities management in 2014.

Integrico was involved with MTN since 2011. We were responsible for MTN Gauteng region only, then Broll offered us a contract to maintain all MTN corporate buildings, retail stores in malls and airports nationwide. Integrico has now moved from being an SMME to a SME. We have regional offices in all provinces.

“Building maintenance is the traditional terrain of men. Our entry in the maintenance industry proves that women can do it even better”

The most important lessons learnt in business?

Management, leadership and governance, setting operations and systems across the country, and an appreciation of the impact multi-cultures have on business.

Also quicker turnaround times, communication and marketing, after-sales service, quality of work, monitoring and evaluation.

GET IN TOUCH

Broll Facilities Management Tel 011 441 4806 e-mail: mbarends@broll. com

ELECTRICITY

CONTINUED FROM PAGE 1

Friday June 17 2016

CUT YOUR POWER USAGE When replacing appliances, use energy-rated ones.

Replace regular bulbs with low-energy bulbs and LED downlighters from reputable brands.

Install a solar water geyser or a heat pump, which typically saves about two-thirds of water heating costs.

Install a solar-powered pump for your swimming pool.

Unplug unused electronics.

Save with effective insulation: good roof insulation will keep a home warm in winter and cool in summer. Insulate large glass windows with films or tints.

Select individual room air conditioners over ducted if installing ­— you won’t cool unoccupied spaces.

Cut your electricity costs F

ew will argue that if cold, wet Germany can produce 7% of its electricity demand via private individuals installing photovoltaic (PV) panels on their roofs, sunnier SA could be making even more significant strides into sourcing and providing cost effective renewable energy.

The initial financial outlay may seem exorbitant but, like property, it’s a long-term investment that, over time, can recover its own costs — and even bring in returns.

The sweetener here would be feed-in tariffs through which national electricity suppliers pay homeowners

for electricity they produce with their own renewables, but don’t use. This is happening in many parts of the world, and even in a corner or two of ours. It’s even conceivable that homeowners could make a profit over the life span of a rooftop PV generator.

Solar panels generate power by day, for electricity usage at night, with surplus power stored in battery banks that are drained overnight.

Batteries are expensive, though, and need significant maintenance; far better to sell that surplus daytime power back to the grid energy provider. Which is exactly

what Bright House Solar’s Leigh De Decker and Mark Bleloch are doing.

SPEND TO SAVE The rooftop panels on their home in Contantia generate 80%-90% of their energy needs, and they feed surplus electricity back to the municipality — reducing their monthly electricity bill by at least two-thirds. “A homeowner won’t think twice about a R90,000 upgrade to a bathroom or double that for a pool, but will wrestle with the cost of fitting solar PV panels that will substantially save them electricity every month for decades,” says De Decker.

“And, just as that upgraded bathroom is a great selling point for the home, today — and tomorrow for certain — alternative energy systems in homes are increasingly sought after and record prices are being achieved for them,” she reasons.

Carol Reynolds, Pam Golding Properties area principal for Durban Coastal, says more people are looking at sustainable residential developments.

“A global network has been developed around the concept of eco-villages, and this is indeed the way of the future.

Communities of like-minded people are living together in self-sufficient eco-estates with boreholes, solar heating and solar and wind-generated power, and water tanks and underground systems to conserve the environment.”

GOING OFF GRID Mark Van Heerden has a home in Baronetcy Estate, in Cape Town’s northern suburbs, where energy efficiency or even going entirely off grid is prioritised. He’s made solar his business, literally, and owns Perpetual Solar and Perpetual Power. Van Heerden’s house is designed to be a partially offgrid system, connected in such a way that he only uses utility power in the event of extended bad weather (or he uses a backup generator).

Says Van Heerden: “If we

“It’s a paradigm shift to be able to enjoy the power you produce for your own consumption – you also feel more in control of your life” Mark Van Heerden, director, Perpetual Solar and Perpetual Power

ELECTRICITY

systems from showers to irrigation, solar water-heating systems and self-generated solar power, according to Sindile Mavundla, PR officer for Blue Rock. He adds that all apartments will be insulated and have double-glazed windows obviating the need for air conditioning or heaters.

RETHINK YOUR USAGE It’s a given that we need to reduce our electricity consumption. It won’t be long before homeowners are affected by time-of-use tariffs, where peak-time electricity costs will rise. Whether you’re moved by the impact of your carbon footprint or simply want to save

“A homeowner won’t think twice about a R90,000 upgrade to a bathroom or double that for a pool, but will wrestle with the cost of fitting solar PV panels that will substantially save them electricity every month for decades” Leigh De Decker, co-owner, Bright House Solar money — or both — it all starts with reducing consumption.

“People talk about solar and renewable energies, but first, make your place as energy efficient as possible,” says Brian Howarth, MD of

Magnet Group. “Don’t look for an alternative fuel source so you can continue to use excessive amounts of energy.

The less energy used, the less alternative power is required, which equals less expenditure.”

W

Andrew Golding, CEO, Pam Golding Properties

South Africa 300 250 South Africa

200 150

South Africa

100

Germany

Brazil Germany

U.A.E.

50

India

Peru 2013

14

15

16

Mexico 17

18

Source: International Energy Agency

The Economist reports that in 2015 China surged past Germany to become the biggest producer of solar energy, and analysts expected the country to install 12GW of solar in the first half of 2016 — one-third more than the record amount America intends to build for the full year. India is targeting a 20-fold increase in solar-power capacity by 2022 to 100GW. This saw 2015 global solar-energy capacity increase by 26%, fuelled largely by an 80% fall in the cost of solar panels since 2010, according to the International Renewable Energy Agency. Studies of the levelised cost of electricity, which estimate the net present value of the costs of a generating system divided by the expected output over its lifetime, show solar is close to gas and coal as an attractively cheap source of power. Tenders of long-term contracts to purchase solar power in developing countries provide evidence that such assumptions may prove to be conservative.

BARONETCY ESTATE

Vaal Mall expansion meets demand with retail variety

2015, residential property sales recorded a 7% average increase during the first quarter of 2016.

The Western Cape shows the strongest growth over the longest term, registering an increase of 10.65% in house prices in Q4 2015. This is a continuation of a sustained period where it outperformed the market in early 2013.

In contrast, house price inflation in Johannesburg, Durban and Pretoria remained fairly stable at about 6% during this period. However prices accelerated in Pretoria towards the end of the year, with an average increase of 7.6% recorded during the final quarter of 2015.

While houses in the upper price band — more than

Cape Town and Pretoria outperform national housing market 12% 10,6% 10% Year-on-year percentage change

“As the urbanisation rate rises, the metro housing markets become more dominant within the national housing market and also become increasingly independent of national trends”

350

0

Housing prices rebound countrywide hile the South African economy is on all global ratings agencies’ watchlists, the country’s housing market appears to be staging a modest recovery. Those are the findings of the May 2016 Pam Golding Residential Property Index.

The index shows that after averaging 5.9% during

Tenders for solar energy installations

Price per MWh, $2014

want to leave a better world behind for our children, we have to live the part. It’s a paradigm shift to be able to enjoy the power you produce for your own consumption — you also feel more in control of your life. I invested in a solar power generator — the sun’s energy is free — and a large battery storage system to free myself from rising electricity prices and power anomalies.”

Van Heerden’s modular systems are designed to meet your needs and budget — so they can be extended or altered as required and you can stagger installation and payment.

Architecture also has a significant role to play in sustainable residential developments. Phillippe Fouche, a director of SAOTA, says the relationship between buildings and the environment is as old as architecture itself.

“Great buildings have always responded to the landscape, the environment and the climate in which they are sited. The great buildings of the future will continue that relationship.”

Billed as Africa’s first multibillion rand, ecofriendly village, Somerset West’s Blue Rock Village is a case in point. “The village will produce 80% of its power through solar systems which will feed through every apartment and the village. All apartments come with A++ rated appliances installed, LED lighting, water-management

Friday June 17 2016

7,6%

8,0%

National average

6,1%

6,0%

5,6% 4,0% 2,0% 0,0%

Cape Town

Pretoria

Johannesburg

Durban

Source: Lightstone

House Price Inflation Q1 2016 Average

<R1m

R1m-R2m

>R2m

SA

6,97

10,10

2,35

-1,09

Gauteng

6,49

8,00

3,37

-1,51

Western Cape

11,69

17,03

8,96

1,79

KwaZulu-Natal

6,38

13,08

4,35

9,61

Source: PGP Index

R2m — register a low growth point of -5.7% nationwide, the top end is robust in KwaZuluNatal, averaging 9.6% during Q1 2016.

Since late 2014 the top end of the KwaZulu-Natal market has been outperforming both the Gauteng and Western Cape housing markets, with the surge in house price inflation in this region largely attributable to the booming growth nodes along the North Coast.

The lower price band — properties less than R1m — has been the top-performing sector since mid 2015. It continued to accelerate during Q1 2016, with house price inflation at 10.1%.

According to the index, the greater concentration of people and economic activity in major metro areas is a global trend.

Says Andrew Golding, CEO of Pam Golding Properties: “In part this reflects the continued rapid urbanisation of the South African population, which is underpinning demand for housing in the major metro areas. As the urbanisation rate rises, the metro housing markets become more dominant within the national housing market and also become increasingly independent of national trends.”

V

aal Mall topped off its extensive R420m revamp with the June 15 opening of its second building phase. The 15,000m2 expansion includes a sevenscreen Ster Kinekor cinema complex.

Co-owned by Growthpoint Properties and the Flanagan & Gerard Property Group, the new retail mix cements the mall’s position as the premier shopping destination in the Vaal triangle.

The 65,000m2 Vaal Mall now has more than 140 tenants and a new cinema complex alongside additional shops, new eateries, three new levels of parking and the

expansion of several big-brand stores — including the biggest Truworths store in Gauteng and the second-largest in SA. There is now also easier access to the mall, thanks to the addition of a taxi rank that has the capacity to service 1,800 to 2,000 daily commuters. Parking has been upgraded, with free undercover parking in the new parkade providing quick access to the food court at the heart of the mall.

Vaal Mall GM Victor Hiemstra says they have experienced an increase in foot traffic to the mall. He expects the revamp to bring an influx of new shoppers.

ABLAND ADVERTORIAL Friday 17 June 2016

ADVERTORIAL

Homes with heart

The Abcon Group Foundation and Impilo Foster Homes NPC for AIDS orphans have joined forces to develop Impilo Village Timsrand

T

he Impilo Village Timsrand, a major corporate social investment project, was launched in March 2016.

For several years and through various initiatives, Abland’s charity work has for gone towards assisting Impilo Foster Homes NPC in Cosmo City and the Genesis Crèche in Diepsloot.

The passion of The Abcon Group for these initiatives and the visible positive impact they made on these communities brought the establishment of The Abcon Group Foundation (AGF). The Abcon Group consists of five specialist property companies, three property funds and a private equity investment arm.

The AGF is a nonprofit company through which the corporate social investment initiatives funded by The Abcon Group are implemented.

MEETING A REAL NEED The impact of HIV/AIDS on society is significant. Current statistics indicate that there are some 2.5-million AIDS orphans in SA, of which an estimated 300,000 live in Gauteng alone.

Impilo Foster Homes NPC, a charitable organisation, has for years been involved in making a difference in the lives of AIDS orphans.

In line with its mission and vision, Impilo Foster Homes NPC found a 2.5ha property at Koedoe Road, Timsrand with the potential to house all buildings and facilities required for a Foster Homes Village.

JOINING FORCES In late 2014 Impilo Foster Homes NPC and AGF decided to join forces for the development of the Impilo Village Timsrand.

Impilo Foster Homes NPC and AGF have collaborated on previous projects, including foster homes at Cosmo City and the establishment of a crèche and community centre at Diepsloot.

Impilo Foster Homes NPC and AGF, the joint owners of the property at Timsrand, appointed Abland as the project developers.

The AGF Precinct was born to provide an integrated environment that provides 20 residential units that will accommodate up to 200 AIDS orphans, together with facilities such as a clinic, a crèche, a primary school and a special needs school. The education

and training support will enable them to progress and become contributing members of society. They will receive support through the facilities at the Impilo Village Timsrand or by means of bursaries and support programmes, until they reach adulthood.

COMMUNITY INTEGRATION The precinct is designed to provide several support facilities to the local community. These include: • a clinic and convenience shop • a new village hall incorporating a multipurpose gathering space • a library • an information and training centre • an external piazza THE CENTRAL GREEN The design of the precinct also makes provision for a landscaped open green space in the centre, which can house various recreational areas and a vegetable garden. The intention is to have the village as sustainable and self-sufficient as possible.

CONVERSIONS Existing buildings on the property will be renovated and converted into the main reception and administrative building, management housing, ablutions and various services. The existing swimming pool and tennis court will also be redone.

these villages throughout SA. Fundraising and marketing are done through various events such as potjiekos competitions, golf days and many other initiatives. There are several avenues of donations available, including cash deposits to the AGF and the provision of professional services.

SKILLS TRAINING Within the identified property is a Skills Transfer and Training Centre that will provide further opportunities for the orphans as they mature and enter the workplace.

The centre will offer a range of training and skills transfer opportunities, such as those specialised to the construction and property sector. These opportunities will support the wider community through job creation, and also positively benefit the industry.

PROGRESSION The AGF formed a Design Team comprising architects, civil and structural engineers, traffic specialists, town

planners, electrical engineers, geotechnical specialists, firefighting specialists, landscapers, quantity surveyors and other professionals.

The project broke ground with Phase One in January 2016. This phase includes the revamping of the main building, the erection of fencing around the site and the renovation of the existing guardhouse.

The main construction activities are expected to

commence soon.

The entire project, depending on funding, is envisaged to be completed by the end of 2017.

THIS PROJECT TOUCHES ON ALL THREE PILLARS OF THE AGF Socioeconomic development Skills development and training Environmental sustainability

FUNDRAISING Impilo Village Timsrand, estimated at about R70m, is a first and a significant development project for the AGF. The intention is to roll out

GET IN TOUCH The Abcon Group Foundation 011 510 9999 e-mail londiwe@ abcongroupfoundation.org.za

PLATTEKLOOF Sales & Rentals: 021 558 3438 â&#x20AC;˘ plattekloof@pamgolding.co.za â&#x20AC;˘ pamgolding.co.za/plattekloof

Barontecy Estate, Plattekloof / R15.8 million

Ref# 1PLA1271732

Bedrooms 4 / Bathrooms 4 / Garages 4 / Parking bays 12 / Baronetcy Estate offers discerning investors a top tier property opportunity to settle on the slopes of the Tygerberg Hills, in the upmarket Plattekloof.

Offering a rare combination of exclusivity and serenity, Baronetcy Estate can rightly claim its place in the upper echelon of Cape Town blue chip property offerings. This exclusive family home, set in a lush haven of tranquillity and privacy with panoramic views, epitomises the perfect marriage of architectural magnificence and opulence. Modern and sophisticated, it offers double-volume ceilings, light, space and attention to detail. Extras include; goods lift, internet fibre connections throughout, smart alarm system, central vacuum and parking for twelve cars.

Tonja Ellman 082 978 3576 / Pierre Nel 076 967 3766 /PamGoldingProperties

pamgolding.co.za

@PamGoldingGroup

Priced from R2.25 million. No Transfer Duty.

One-on-Whiteley, the new residential phase of Melrose Arch, is the ultimate in luxury cosmopolitan living. When you invest in an apartment at One-on-Whiteley, you are investing in a secure, convenient and vibrant lifestyle.

One-on-Whiteley provides an amazing opportunity to be part of the success and attraction that this unique new urban quarter offers. By owning an apartment in One-on-Whiteley, you open the door to 21st century living.

On Show at the Pam Golding Office and Amdec Property Café - High Street, Melrose Arch.

To be part of the ultimate in luxury cosmopolitan living, please contact: Peet Strauss 083 675 1212 • pstrauss@pamgolding.co.za Victoria Russell 074 683 1222 • victoria.russell@pamgolding.co.za Tersia Taljaard 063 695 7571 • tersiat@amdec.co.za Office: 011 684 2995/6 • pamgolding.co.za/melrose-arch

TYSON PROPERTIES ATLANTIC SEABOARD

BANTRY BAY, ATLANTIC SEABOARD, CAPE TOWN

SOLE MANDATE - R24 000 000

OUTSTANDING LOCATION, BREATH-TAKING VIEWS Soft shades of white impart a feeling of spaciousness throughout this beautiful home and the outdoor / indoor flow onto the expansive north-facing wooden deck and pool provides for relaxed yet sophisticated entertainment. ‘’Surprises’’ include 2 swimming pools, three en-suite bedrooms and an opportunity to convert an existing small study into an en-suite bedroom and direct lift access. An “eye catching” kitchen, scullery, 2 garages and off street parking.

Gail Gavrill 082 777 6000 gail.gavrill@tysonprop.co.za

WEB REF: RL23126

COME SEE FOR YOURSELF WHAT LUXURY IS ALL ABOUT

OPPORTUNITIES SELLING FROM R4,2M · Apartments all bathroom en-suite · Top Design and Finishes · Full amenities

ON SHOW DAILY

A SUBURBAN YET CENTRALLY LOCATED ADDRESS Visit our Penthouse Show Apartment 12720 to soak up the views over Johannesburg

Houghton on 12th, 53 Second Ave, Houghton OFFICE – 011 034 2201 || ALAN BECKER – 082 718 8100 || EMAIL – alan@thehoughton.com

WESTERN CAPE A HOME FOR ALL Single storey family home in sought - after Newlands. Set on 871sqm, this home lends itself to the entertainer with separate living area. Formal family lounge with fireplace, study or family room leads out to pool and garden area. Secluded and established garden with patio covered by electric awning. Rustic kitchen. Separate dining room, a further four bedrooms, central full family bathroom and main en suite with walk in closet space.

Separate guest toilet, and outside toilet and basin.

Double auto garaging and storeroom. The home boasts many features, itâ&#x20AC;&#x2122;s worth a look!

BEDROOMS: 4 BATHROOMS: 2 Clint Southwood 082 497 4878 021 794 5500

NEWLANDS

Web Ref: 100010

R6.9 million

GAUTENG FOR THE EXECUTIVE IN SMALL COMPLEX. This double storey cluster in small complex offers excellent quality finishes with double volume entrance, guest, 4 receptions (built-in wooden bar) onto covered patio in walled garden with pool, gourmet kitchen for the keen chef with scullery, pantry and staff. Upstairs offers 4 bedrooms, main en-suite with dressing room, 3 modern bathrooms, pyjama lounge/study and balconies. Automated garage offers parking to 4 cars, staff suite and good security, electronic access, intercom system, cameras at entrance, alarm system.

BEDROOMS: 4 BATHROOMS: 4

BRYANSTON R6.9 million

Tersia Kotze 082 336 6745 Web Ref: 100248

GAUTENG EXPERIENCE FINE FAMILY LIVING. This beautiful, private family home is nestled within Kyalami Estates. The downstairs comprises of a formal lounge & additional seating area, dining room and well appointed eat-in kitchen all flowing onto an extremely generous covered patio. There is a separate guest suite with own entrance and bathroom ideal for work from home. Upstairs has 3 bedrooms and study/4th bedroom and spacious pyjama lounge. The large main en - suite has a walk in dressing room and full bathroom. The spacious garden is beautifully landscaped with a large swimming pool. The home also has a double automated garage and staff accommodation.

BEDROOMS: 4 BATHROOMS: 3

KYALAMI ESTATE R5.8 million

Brian Hickson 083 405 0000 Tracy Stuart 082 921 3980 Web Ref: 104301