Business Day HomeFront 19 May 2017 by The Creative Group

HOMEFRONT 13 OCTOBER 2016 WWW .BDLIVE.CO.ZA WWW.BDLIVE.CO.ZA 19 MAY 2017

MUST READ

Propertuity’s work of art PAGE 2

Small storage solutions PAGE 4

Africa’s wealthy still buy in SA PAGE 14

MMI takes up Cornubia space PAGE 21

Gauteng draws first-time buyers First-time buyers will benefit from the increase in the exemption threshold for transfer duty, but is it still possible to find a decent starter home in a Gauteng metro for less than R1m?

PAGE 8

HOMEFRONT LIFESTYLE

Creative space In housing its headquarters at Work + Art in downtown Johannesburg, Propertuity emphatically buys into its own concept of considered urban regeneration WORDS: JULIA FREEMANTLE :: PHOTOS: ELSA YOUNG

ropertuity, SA’s urban regeneration pioneer, has invested hugely in Maboneng, where it is gradually building a neighbourhood of (affordable) forwardthinking residential developments, mixeduse spaces and cultural hotspots — and where it bases its entire Johannesburg operation. Its headquarters are on Siemert Street, in a wedgeshaped Flatiron-esque building commanding a corner across the street from the soon-to-becomplete Hallmark House hotel, called Work + Art. The building is another joint venture with Quorum Properties; the two property developers have joined forces on a number of other buildings too. Work +Art is a six-storey building that used to be owned by Weil & Ascheim, an investment group whose CEOs included famous Johannesburg businessmen such as Manny Simchowitz and Brian Joffe. Their success resulted in a luxurious space and signs of prosperity can still be seen in the architectural details — wooden panelling

“It forms a commanding presence and represents our vision for the area, something you experience visually as you come off the highway and up Siemert Street” Neil Eliason, Quorum Properties

HOMEFRONT

and marble bathrooms. After they moved on, the building became the base of numerous clothing manufacturers (Doornfontein has a long history as a centre for cut, make and trim enterprises). All this history helped inform the spirit of the current incarnation, from the design to the name — Work + Art refers to the original owners as well as to a valuable private art collection the building once housed. “We chose it because, in addition to the fact that it’s a fantastic building, together with Hallmark opposite it, it forms a commanding presence and represents our vision for the area, something you experience visually as you come off the highway and up Siemert Street,” says Neil Eliason from Quorum.

DESIGN As with all Propertuity developments, as well as a unique identity it has a sophisticated design and a community focus. In addition to Propertuity and Quorum on the sixth floor, there are a number of anchor tenants, including Nedbank retail and Stallion Security, as well as SMEs and consultancies. But Propertuity has injected its signature art and design expertise into the public spaces, as well PRODUCED BY TIMES MEDIA PROPERTY PUBLISHING Unit G4, Old Castle Brewery, 6 Beach Road, Woodstock, 7925 021 447 7130

as its Mad Men meets edgy urban sixth-floor headquarters, which is a tribute to the mid-century history of the space.

PROGRESSIVE “Our upgrade has tried to reinforce this language as it sits well with the progressive ethos of the building and its tenants,” says Jonathan Liebmann, founder and CEO of Propertuity. In line with this, Aimee Henning of Malica Design has created a subdued and sophisticated environment with meeting pods, velvet sofas in jewel tones and elegant wood and metallic panelling that echoes the tone of the original space, but with an artisanal twist. It feels surprisingly and wonderfully cosy and old world, offsetting the urbanness of the street below. From the façade with its sculptural steel and landscaping installation, to the surrounding pocket park and the foyer’s vibrant sculptures and artwork, the effect is dynamic and alive — with plants, colour and people. The rooftop features artwork by rising young artists Jake Singer and David Brits which frame the skyline to quite breathtaking effect. While it has a rich art culture, contrary to popular belief or public assumption,

Maboneng is not just an area for bars and galleries. There is a thriving property market, both investment and rental (which is Propertuity’s biggest business), and one in which Propertuity is carving out a niche as leaders in accessible but desirable housing. The company’s vision for spaces, and how they can assume an identity, makes its developments stand out from many generic residential blocks going up around SA.

HISTORY Each draws on the history of the area, whether through its name or by using an existing piece of the city and adding to it, so that the character of the place is never lost, despite its massive regeneration. It is a vote of confidence in what the city has been, and can be. This confidence is contagious — and it is not just the public who is getting on board. Corporates and big-name architects have put their stamp of approval on the vision too, from David Adjaye, whose collaboration with Propertuity on Hallmark House is one of the most eagerly anticipated hospitality projects in Joburg history, to finance group RMH’s recent investment in a third of Propertuity as part of its new niche property portfolio. A

EDITORIAL TEAM Editor: Kim Maxwell Creative Director: Mark Peddle Designer: Samantha Durand

PUBLICATION

Copy Editor: Lorraine Kearney Content Business Manager: Catherine Davis Production: Joanne Le Roux

ADVERTISING SALES Michèle Jones Susan Erwee

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

084 246 8105 083 556 9848

HOMEFRONT DESIGN

Big idea for small storage Beautiful places to store small items within easy reach — or even to add greenery — are becoming a staple in interior design, as people gravitate towards smaller spaces WORDS: CHRIS REID AND SUPPLIED :: PHOTO: NORMANN COPENHAGEN

t is a truth universally acknowledged that you will always have more stuff in your home than places to store it. That is why designers are constantly trying to find ways to solve storage problems, especially now that there is a general move towards people living in smaller spaces. In interior trends, we have seen this play out in objects with dual functionality that conceal storage spaces in cunning ways. A new micro-trend of interest, however, does not focus on expanding additional storage space, but rather on adding it in unexpected places. The wall pocket is a popular interior accessory right now, and it is easy see why. By piggybacking on existing walls and objects, it allows people to add kangaroo pouchlike functionality to any flat surface.

FLEXIBLE The Pocket Organizer products from Danish design company Normann Copenhagen do exactly this with their pebblelike design. Normann Copenhagen designer Simon Legald says: “My aim was to make a flexible wall-mounted storage solution for all of the smaller items that you never know where to put. By using the walls you can make the most of the space you have available.” In designing his organiser, Legald drew inspiration from a shirt pocket. Normann Copenhagen products are sold in more than 80 countries and have collected more than 50 design awards. We have seen this kind of inconspicuous storage solution across a range of brands for a while now. It speaks to both the need

“It speaks to both the need for space and the appeal of life hacking” for space and the appeal of life hacking, to a certain extent. People are not seeking whole solutions for a space, but rather the elements to create something for themselves.

USEFUL SOLUTION Pocket storage has a myriad uses — as a magazine holder or planter, a place to keep your make-up or kitchen utensils, for office supplies and more. It is not a new idea. Hanging pocket storage space has been a craft staple for years, made of all types of fabric and embellishments as room tidies for children and teens — and for crafters themselves. Plastic wallhanging pocket holders for storing shoes and bathroom products have been around for a long time. Lately, however, pocket organisers have been taken up a notch or several and have received a stamp of approval from the design set. They are also proving popular as planters, either to bring interest to a bare wall, to bring the outside indoors, or to grow herbs and even vegetables in a small space. Wall planters are made of a variety of materials, such as wood, ceramic, glass, plastic, metal and fabric, and come in a variety of shapes — round, square, envelope and even triangular.

GET IN TOUCH Normann Copenhagen normann-copenhagen.com

WESTERN CAPE AtlanticSeaboard 021 439 7415 / Southern Suburbs 021 673 4200

Clifton / From R25 â&#x20AC;&#x201C; R100 million incl VAT

Ref# AS1300567

Bedrooms 3/5 / Bathrooms 3/5 / Parkings 2/5 / Each apartment in this brand-new development has expansive, open-plan entertainment and living areas with large terraces overlooking the Atlantic Ocean and Twelve Apostle mountains. Secure parking garage with direct lift access, 24-hour concierge and comprehensive CCTV coverage. Apartments are priced from R25 million, and villas at R100 million. VAT and all transfer costs included in purchase price. Annette Hepburn 082 658 1116

Camps Bay / R25.995 million

Ref# BAY1314108

Bishopscourt / P.O.A.

Ref# KW1313343

Bedrooms 6 / Bathrooms 6.5 / Garages 3 / Eclectic, modern and spacious home flexible to suit your every need and wish. Spectacular views, 8-person lift, indoor/outdoor flow to landscaped garden, cascading rock swimming pool and Jacuzzi. White designer kitchen. Penthouse master suite plus 3 separate apartments. Irrigation and underfloor heating supplied by natural 'stored' ground water coupled with solar heating which services the entire home.

Bedrooms 5 / Bathrooms 4 / Garages 3 / Stately Georgian residence in beautiful Bishopscourt. Breathtaking mountain views surround this exceptional, beautifully presented home with a lush landscaped, tranquil garden. Expansive entertainment areas, private swimming pool and generous accommodation, combined with luxury finishes, total privacy plus excellent security lends itself to a most gracious lifestyle.

Jodie Taylor 082 667 4770

Myrna Duveen 082 443 8417 / Christiaan Steytler 082 658 0071

CAPE WHALE COAST Arabella: 028 284 9385 • Betty’s Bay: 028 272 9145 • Hermanus: 028 312 1110 Kleinmond: 028 271 3423 • Onrus: 028 316 3390 • Pringle Bay: 028 273 8326

I am Vermont

Vermont / R7.45 million Bedrooms 5 / Bathrooms 4 / Garages 3 Meticulously crafted to reflect sea and mountain views. Spacious living areas. Private pool. Ref# ON1244264 Louise Momberg 082 553 0427

Ref# ON1312698

Ref# KN1295492

Ref# KN1310329

Onrus River / R4.25 million

Arabella Country Estate / R6.4 million

Kleinmond / R1.75 million

Bedrooms 6 / Bathrooms 5 / Garages 2 Farmhouse jewel in quiet cul-de-sac. Entertainers dream with wrap around undercover stoep on large stand. Excellent security and loads of extras. Outside office. Stunning views of the surrounding mountains and the ocean.

Bedrooms 4 / Bathrooms 4 / Garages 2 Sunny and spacious with amazing views. This north-facing 4-bedroom home has wonderful mountain, golf-course- and lagoon views. It boasts a sheltered private pool and outdoor area plus an enormous garage.

Bedrooms 2 / Bathrooms 2 / Garages 2 On the edge in Klein Berlyn. This lock-up-and-go facebrick is a must see. Lovely views towards sea, walking distance to Main Beach. Spacious living area that flows onto undercover northern stoep.Lovely well maintained private garden.

Sandra Boshoff 082 873 0166

Mike Bisset 082 889 5300 / Hugo Basson 083 386 6299

Lise Götz 083 609 7215 / Adri Wernich 071 157 6689

Ref# HF1312686

Ref# HF1293754

Ref# WEL1286711

Fernkloof Estate / R4.45 million

Kwaaiwater / R5.5 million

Wellington / R3.999 million

Stand Size: Approx 773 m². Magnificent sunny, north-facing larger than average plot for sale in Prestwick Village. Uninterrupted mountain views. Inclusive of building plans. Within walking distance of the Hermanus Golf Clubhouse, cliff paths and Kwikspar.

Bedrooms 4 / Bathrooms 4.5 / Garages 2 This luxurious doublestorey home in Kwaaiwater has seamlessly flowing living areas and handcrafted solid-wood joinery finishes throughout. Beautiful views of the Voëlklip mountains.

Bedrooms 4 / Bathrooms 3.5 / Garages 2 Your dream home. This beautiful family home is very special. It offer uninterrupted views of the surrounding farms and mountains. The living room flow to a large patio and pool with lush garden and established trees.

Heather Kleynhans 083 285 2777

Allan Lotter 072 768 9984

Lynette Kanneyer 082 672 1022 / Erika Odendaal 082 412 6964

CAPE WINELANDS Franschhoek: 021 876 2100 • Paarl: 021 871 1480 • Somerset West: 021 851 2633 Stellenbosch: 021 887 1017 • Wellington: 021 873 4557

Somerset West / R31 million Bedrooms 5 / Bathrooms 5.5 / Garages 6 Parklike plot ±1 ha, separate cottage, flatlet, tennis court, mountain views, borehole, security (electric fence, alarm and 13 internet monitored cameras). Ref# SW1313218

I am Somerset West

Mabel Botha 083 458 3782

Ref# SW1282062

Ref# FWI1288530

Ref# FWI1248338

Somerset West / R32 million

Franschhoek / R1.9 million

Franschhoek / R8.5 million

Bedrooms 7 / Bathrooms 7 / Garages 6 An exquisite designer masterpiece in Spanish Farm. Built to the highest luxurious standards, this elevated contemporary home boasts views as far as the eye can see.

Commercial unit In Franschhoek. This neat commercial unit is situated at Place Vendome at the entrance to the village. Place Vendome is a boutique lifestyle centre offering good visibility from the main road with attractions such as an upmarket restaurant.

Bedrooms 3 / Bathrooms 3 / Parkings 2 Set in the exclusive Deltacrest Equestrian Estate, is this elegant, bright and spacious home. An open-plan, double-volume lounge with built-in wood burning stove and dining room.

Mabel Botha 083 458 3782

Doug Gurr 072 610 7208 / Jeanine Allen 082 410 6837

Ref# TK1312948

Ref# TK1312741

Ref# TK1298741

Val De Vie / R24.95 million

Pearl Valley / R7 million

Paarl / R3.7 million

Bedrooms 5 / Bathrooms 6 / Garages 2 Absolute luxury on Val de Vie Estate. Offering seamless views from the deck and upstairs patios over the lake, stretching to the breathtaking Franschhoek Mountains.

Bedrooms 4 / Bathrooms 4 / Garage 2 Spacious lake home living. This upmarket lake home is built on the most beautiful stand with 180° views of the Franschhoek and Simonsberg mountains overlooking a large body of water.

Bedrooms 4 / Bathrooms 3 / Garages 2 Rare find in excellent position. Comfortable north-facing family home in centre of town within walking distance to Girls High and Boys High schools.

Jordan 083 298 1481 / Hayley 082 926 8587 / Igna 082 884 8492

Lynette Schoeman 082 553 3045

HOMEFRONT

HOUSE PRICES

Age of buyer by province

60%

50%

40%

30%

20%

10%

0% Limpopo

Free State 18-25

Source: Lightstone

Northern Cape 25-35

Western Cape 35-45

KwaZulu-Natal Mpumalanga 45-55

North West

55-65

Gauteng 65-Older

Eastern Cape

tatistics from Lightstone show that over the past 12 years, 50% of young people who were buying properties were doing so in Gauteng as opposed to elsewhere in the country. A recent survey by the property analysts found that a young person, aged 25-35, was more likely to earn a salary in Gauteng that would allow them to get started on the property ladder. You need to earn at least R30,000 a month to qualify for a home loan of R1m. In this yearâ&#x20AC;&#x2122;s budget, transfer duty relief was given to support lowincome households in affording a home, with

the exemption threshold increasing from R750,000 to R900,000. The upshot is that if you want to buy a decent starter home and are keen to take advantage of the change, you will be looking at properties priced at R900,000 or less. But are there still good value homes available at this price, especially in Gauteng, and has the relief affected property sales in this bracket?

SAVING Rupert Finnemore, regional head of Pam Golding Properties in Gauteng, says the 20% increase in the threshold for transfer duty is likely to play an important role in

HOMEFRONT LOWER PRICES, MORE SALES Properties priced between R400,000 and R800,000 accounted for 26.76% of sales, while those priced between R800,000 and R1.5m made up 23.89% of the country’s home sales during the first three months of the year, it was reported in the RE/MAX National Housing report Q1 2017. Homes priced from R1.5m to R3m represented a 14.54% share of the market, while properties with a price tag above the R3m mark accounted for just 5.21%.

“Reflecting this growing first-time buyer market, as well as a downsizing trend, in the more affordable housing market prices remain resilient” Rupert Finnemore, regional head, Pam Golding Properties Gauteng

FIRST-TIME BUYERS About 8.49% of property transactions in the first quarter of the year were first-time registrations, with the remaining 91.51% repeat sales, according to the RE/MAX National Housing Report Q1 2017. About 72,771 people bought a home for the first time in 2016, which was 32,941 fewer buyers than the previous year — proof that the higher cost of living is taking its toll on prospective homeowners. The majority of first-time buyers were between 26 and 40 years old. However, consumers over the age of 70 and under the age of 20 bought property for the first time in 2016. Suburbs most in demand for this demographic of the market were in Gauteng and the Western Cape, close to the respective economic hubs of Tshwane, Johannesburg and Cape Town. Source: RE/MAX National Housing report Q1 2017

“It is still possible to get a decent starter home in a major Gauteng metro for under R1m” Paul-Roux De Kock, analytics director, Lightstone

Eveleigh Heights complex in Eveleigh, Boksburg supporting the lower price bracket of the residential property market. Jacques du Toit, property analyst at Absa Home Loans, says the adjustments will bring a saving of R4,500 in respect of the amount payable on all properties sold from March this year. Jawitz Properties CEO Herschel Jawitz says that at this level of the market, R4,500 is a meaningful amount that can be used towards other transaction costs. “Very often firsttime buyers qualify from an affordability point of view but don’t have enough for the transaction fees or deposit to buy a property. This will make a difference,” he says.

BUYER CHOICE Paul-Roux De Kock, Lightstone’s analytics director, says the size of the Gauteng market means buyers have more choice. He says it is still possible to get a decent starter home in a major Gauteng metro for under R1m, which has resulted in more and more youngsters buying in areas such as Delmore Park in Boksburg, Protea Gardens in Soweto and Durley in Bronkhorstspruit. Eveleigh Heights offers a sectional title apartment complex and gated village with security features and communal facilities, situated in Boksburg’s Eveleigh suburb, near Ravenswood. The 240 “move-in ready” units with modern finishes range from 79m 2 to 101.4m 2 and pricing starts

at R849,000, which includes transfer duty. Says Ricky Goncalves of developer Stonesman Projects: “Eveleigh Heights has 15 four-storey apartment blocks of twoor three-bedroom with two bathroom units, each with either basement parking or a covered parking bay, as well as visitors’ parking. It was already 55% sold out before the official marketing launch, and we expect the rest to move fast.” Mariaan Otto, a sales associate at RE/MAX in Kempton Park, says that since the new transfer duty threshold kicked in, she has seen a definite upsurge in enquiries about properties priced at R900,000 and less. In April, RE/MAX had a two-bedroom townhouse of 150m 2 available in Kempton Park AH & Extension for R694,000, a repayment of R6,929 over 20 years. Seeff Properties had a listing for a R900,000 three-bedroom home on a 202m 2 property in Diepkloof, which would cost buyers R8,985 a month at an interest rate of 10.5% over 20 years.

AFFORDABLE Says Finnemore: “Reflecting this growing first-time buyer market, as well as a downsizing trend, in the more affordable housing market prices remain resilient and well-situated homes and apartments are in demand.” As households

come under increasing financial pressure, there has been a move to downscale to more compact and affordable homes, he says. The FNB Estate Agent Surveys found that firsttime buyers made up 22% and 24% of sales in Johannesburg and Tshwane respectively in 2016, but only an estimated 13% of buyers in Cape Town. Finnemore says this reflects the greater affordability of residential property and economic opportunity available in Gauteng. “The demand for more affordable homes has meant that there are particularly active local housing markets in areas such as Midrand,

Olifantsfontein, Randburg, Silverton in Pretoria and former townships such as Soweto and Mamelodi, to name just a few.” Despite slow national economic indicators, Finnemore says, the Soweto residential property market remains one of the most buoyant in Gauteng.

RATES “There are a number of reasons for this, including the fact that property rates in Soweto are substantially cheaper than in the suburbs, and homes in Soweto offer affordability as well as excellent value for money,” he says. According to Pam Golding Properties’ data, the average property price in Soweto is R620,000

and there is considerable demand for homes priced between R350,000 and R700,000. Retha Schutte, regional head of Pam Golding Properties in Pretoria, says the property market in Bronkhorstspruit, 50km east of the capital, tends to reflect the trends evident at the provincial level: the upper end of the market in the area has slowed somewhat while more affordable homes under R1.5m remain in demand. “There are homes available in the greater Bronkhorstspruit area, including in Montana, Montana Park, Montana Gardens and Doornpoort, where a three-bedroom home can be bought for under R900,000,” she says.

BUH-REIN ESTATE

CAPE TOWN - NORTHERN SUBURBS

C H A N D E L L E A PA R T M E N T S

From

R829 900

Chandelle is situated in the acclaimed Buh-Rein Estate and is bordered by a public open space on the west and a multi-purpose sport field on the northern side. These trendy apartments are affordable and offer exceptional value for money. Amazing finishes are standard.

sales@msp.property

087 802 9005

ACORN CREEK LIFESTYLE ESTATE

HELDERBERG - SOMERSET WEST

PHASE 2 NOW SELLING

From

R2 249 000

2.5

Acorn Creek is situated in the spectacular Helderberg region of the Western Cape. It is a place where you can be at your ease and do those things that you really please. The surroundings offer beautiful mountain trails, prestigious golf courses, innumerable wineries and stunning beaches.

Melissa

072 920 0593 CAPE TOWN - NORTHERN SUBURBS

ZEVENWACHT LIFESTYLE ESTATE OPEN DAY 5 MARCH 2017

I N D E P E N D E N T L I V I N G A PA R T M E N T S

From

R949 900

Situated in the Cape Winelands, Zevenwacht Lifestyle Estate offers its residents the epitome of luxury retirement living. Embodying South Africa’s abundant natural beauty, this region offers spectacular views, temperate weather and an endless array of activities to explore.

Colleen Lowe

082 492 7068

LIFESTYLE E STATE

RETIREMENT HOMES

From

R3 199 900

Whether you choose a free-standing lifestyle home or an apartment, our market-leading, 24-hour nursing care will provide the peace of mind you need to live life to the full and enjoy the retirement you’ve earned.

Johan Dahms Arina Crathorne

083 633 4520 084 550 0508

LIFESTYLE E STATE

Z E V E N WA C H T L I F E S T Y L E E S TAT E O F F E R S Y O U : Care Center Access to home care available at request as and when required by prior arrangement with the Care Services Provider situated at the Care Centre. Included in the levies for all residents living within the Independent Living Apartments. Also available to residents of the Lifestyle Homes, at an additional cost. • 24-Hour Care Centre • Dining Room, Social Interaction, Domestic, Laundry and Concierge Services Clubhouse • Home Nursing Care

Other Services include: • Clubhouse, Library • Security • Call4Care • Patronage Card at Zevenwacht Wine Estate

LIFESTYLE E STATE

087 802 9005 msp.property sales@msp.property

The images, perspectives and finishes shown in the advertisment are merely impressions of the proposed development and are therefore subject to change at the developer’s discretion. The developer will not be held liable for any changes.

FOCUS ON: THE ARUM ADVERTORIAL

Urban convenience On the peaceful edge of Cape Town’s City Bowl, with its sweeping views and quality design and finishes, The Arum offers light-filled apartments for a modern lifestyle WORDS AND PHOTOS: SUPPLIED

ne of the best features of Horizon Capital Residential’s new development, The Arum, is its location. Positioned on Davenport Road in Vredehoek, it has convenient access to Cape Town’s major transport routes as well as all the amenities Vredehoek has to offer. The peaceful, family orientated neighbourhood has views overlooking some of the city’s most iconic sites: the CBD, Signal Hill, Lion’s Head and Table Mountain. The Arum is an exclusive block that offers 12 unique apartments, including two-bedroom units, two-bedroom duplexes and two threebedroom penthouses. The penthouses have been designed to maximise the panoramic views of the site. Ideal for families who want to take advantage of a convenient Vredehoek lifestyle, they offer buyers a modern three-bedroomed apartment on the edge of the city, catering for a highquality urban lifestyle. A unique approach to the duplexes offers more flexibility and privacy,

with living areas on the top floor and bedrooms below. The duplex layout allows north light in and views to the living area and main bedrooms.

NATURAL LIGHT The development has been orientated to maximise natural light and sweeping city views. The apartments are north-facing, with an outlook towards Table Mountain on the south. Each unit has been designed with a spacious covered terrace to serve as an outdoor living room and promote seamless indooroutdoor living. Horizon Capital CEO John Witter says: “The Arum has been designed as a calm, minimalist building where modern elements converge. We have focused on the internal layouts of every apartment to maximise efficiency and the practical use of space. Every bedroom is infused with natural light and ventilation.” It has been designed to respond to the elements, using deep balconies and movable screens that shade floor-to-ceiling glass sliding doors. This prevents unwanted heat gain while also maximising

FOCUS ON: THE ARUM

“The Arum has been designed as a calm, minimalist building where modern elements converge” John Witter, CEO, Horizon Capital

natural light. Horizon Capital Residential has considered the end user in every aspect of the design to ensure that individual apartments not only function well, but also that the architectural aesthetic of the whole block remains timeless. Internal layouts include a separate, plumbed-in laundry cupboard and kitchens are designed for convenience and easy entertaining. The five-storey building offers lock up and go convenience with secure parking, CCTV, electric fencing and access control for owners’ peace of mind.

PRICING The Arum units are priced from R3.6m and as it is a new development, there is no transfer duty. Construction is set to start in September, with completion scheduled for the last quarter of 2018. Horizon Capital, a boutique property firm, specialises in local and offshore property investment, management and development. Established 13 years ago, it has become a leading expert in commercial and residential property.

Horizon Capital’s recently constructed flagship commercial property, Ibis House, was the smallest four-star Green Star SA rated building in Africa. It pioneered the way for environmentally sustainable development and proved that green building could be financially feasible on a smaller scale. Horizon Capital Residential is developing a number of quality residential developments in Cape Town. Says Horizon Capital Residential MD David Sedgwick: “Horizon Capital Residential focuses on designing and developing high-quality residential buildings that meet the practical needs of future owners. The buildings represent a commitment to conscious living, where design is crafted with mindful intent to create spaces that suit the modern lifestyle.”

GET IN TOUCH The Arum TheArum.capetown Horizon Capital e-mail: sales@ horizoncapital.co.za Tel: 021 425 8586

HOMEFRONT WEALTH

Robust demand in luxury market Foreign and local appetite for upmarket real estate in SA remains strong despite the country’s junk status and poor economic performance WORDS: MIRIAM MANNAK :: PAM GOLDING PROPERTIES, SEEFF PROPERTIES & SUPPLIED

A’s domestic and international luxury real estate sector is resilient despite the country’s recent ratings downgrade and overall underwhelming economic performance, the 2017 SA Wealth Report suggests. In terms of the demand for private game farms, wine farms, luxury flats, hotel residences and retirement estates, Cape Town is one of the best performers. The survey, by Johannesburg market research firm New World Wealth, shows that the Mother City has 11 of SA’s 18 top luxury residential blocks and hotel residences. Most of these can be found along the Atlantic Seaboard.

JOHANNESBURG

Taj Residence, Cape Town

Michelangelo Towers, Sandton

Gauteng, too, is popular among upmarket property buyers, with central Sandton, Houghton, Melrose and Illovo taking the lead. Renprop MD Chris Renecle is not surprised. “Johannesburg is our country’s main business hub and serves as the financial capital of southern

Africa. It makes sense for high net worth individuals to invest and live here,” he says, referring to people with liquid financial assets worth more than $1m. Rosebank is also worth keeping an eye on from a luxury real estate perspective, Renecle says: “It is well-situated between Sandton and Johannesburg’s CBD, with easy access to major highways, the Gautrain, upmarket shopping centres and private hospitals.”

AFRICA While local demand for upmarket real estate is strong, foreign buyers from Europe, the US and Africa are largely driving the sector, says New World Wealth analyst Andrew Amoils: “High net worth individuals from Nigeria, Angola and Ghana are increasingly buying residential property in SA.” Gauteng once again seems to be popular. “Most high net worth individuals who have invested in upmarket property in Gauteng are wealthy African foreign nationals,”

says Renecle. “Most of the demand comes from skilled individuals who are in SA for contract work in the IT, telecommunications, engineering and financial sectors.”

VALUE SA’s lifestyle, scenery, private healthcare system and top-class private schools are some of the main drawcards among high-earning property buyers from abroad. A welldeveloped luxury product and services market and high-end food stores play a role too. “A large number of exclusive brand stores have been built over the past decade. Most of them are based in major shopping centres, including Sandton City and Hyde Park in Johannesburg, the V&A Waterfront in Cape Town and Gateway in Umhlanga,” says the Wealth Report. The country’s favourable climate and southern hemisphere location make it a good escape from European and American winter months. “SA offers better value for money compared to similar destinations such as Sydney, Rio de Janeiro and Miami,” says Amoils. “That is why we have more than twice as many high net worth individuals as any other African country.” The recent ratings downgrade, which has led to a decrease in the prices of high-value properties, could fuel the foreign demand for SA’s private game farms, wine farms, luxury flats and hotel residences — which are becoming more affordable. Amoils says: “Our junk status has caused a decrease in property values in US dollars, from about $6,500/m 2 at peak level in prime areas such as Bantry Bay and Clifton in Cape Town to $5,800/m 2 now.” Despite this, SA’s wealth-growing potential remains significant, he says. “We have a welldeveloped wealth and fund management network and one of the biggest stock exchanges in the world. In December 2016, the JSE had a market capitalisation of $950bn,” Amoils says.

HOMEFRONT With the strong demand for luxury residences, there is opportunity for growth in SA’s retirement estate sector. Although New World Wealth has not yet drawn up a retirement estate top 10 list, it has listed notables, but they are not in any specific order: Evergreen Noordhoek Lifestyle Village La Vie Nouvelle Mount Edgecombe Retirement Estate Plettenberg Manor Waterfall Hills Retirement Estate Source: New World Wealth

Infinity at Bakoven, Cape Town, comprises six units, priced from R24.95m plus VAT “The fact that SA is in many ways a hub for doing business in the rest of Africa plays a role too.”

FLATS Besides hotel residences, private wine and game farms, retirement estates and villas, the South African executive apartment sector is robust, particularly in and around Johannesburg. Renecle says: “We are seeing a strong demand for executive apartments in Rosebank for instance, for both investment and rental purposes. This is due to the fact that many commercial buildings in this area have been or are in the process of upgrading, with additional commercial space in the pipeline.

“Most high net worth individuals who invest in upmarket property in Gauteng are wealthy African foreign nationals who see SA as the financial hub of southern Africa”

Chris Renecle, MD, Renprop

“The average selling price of executive apartments in Rosebank hovers at about R38,000/m 2, which offers more value for money compared to other suburbs,” he says. Rosebank’s capital growth prospect is another advantage, says Renecle. This is due to a limited availability of undeveloped residential land. “The Vintage, our first development in Rosebank — which we did in conjunction with Grapnel Property Group — is a case in point. Since its launch in 2014, investors who resold their apartments managed to realise a capital growth of about 30%. This is exceptionally good growth for the current state of the market.”

The Houghton, Johannesburg

SA: Top luxury apartments and hotel residences in the country, 2016

V&A Marina District, Cape Town

Complex (alphabetical order)

Suburb

City

70 on Melville (new)

Illovo

Johannesburg

Amalfi (new)

Mouille Point

Cape Town

Aurum (new)

Bantry Bay

Cape Town

Cape Royale

Greenpoint

Cape Town

Eventide

Clifton

Cape Town

Franklin Row

Illovo

Johannesburg

Melrose Arch

Melrose

Johannesburg

Michelangelo and Raphael Suites

Central Sandton

Johannesburg

San Michele

Clifton

Cape Town

Sandton Emperor

Central Sandton

Johannesburg

Silo Apartments (new)

City Bowl

Cape Town

Taj Residences

City Bowl

Cape Town

The Bantry

Bantry Bay

Cape Town

The Houghton

Houghton

Johannesburg

The Pearls

Umhlanga

Durban

The Water Club

Granger Bay

Cape Town

The Yacht Club (new)

City Bowl

Cape Town

V&A Marina

City Bowl

Cape Town

Source: New World Wealth

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U OW TR N NS CO

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The Ultimate Residential Address 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. Call now to secure an exclusive lifestyle second to none.

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Introducing the ultimate in secure country living, The Reserve...

Plot sizes ranging from 3800m2 to 6000m2 starting at R5,850m VAT incl.

I f you have always dreamed of having a large vegetable garden to grow your own high-quality produce or maybe to look out onto your land with your horses within eyesight, then this is specially for you. Homes border on the protected Fynbos Reserve and is secure country living at its best.

UNIQUE FEATURES •1 Acre to 1 Hectare lifestyle stands •Bordering the protected Fynbos Reserve • Lifestyle boutique crop farming e.g. citrus, olive, vineyards, vegetables and herbs • Landscape and irrigation design included • Farming irrigation water allocation

FOCUS ON: WATERFALL RESIDENTIAL ESTATES

ADVERTORIAL

A world in one place Estates for retirees, a school and plenty of facilities, coupled with greenbelt, a lake and other amenities, Waterfall estates cater for the whole family WORDS AND PHOTOS: SUPPLIED

ust 10km north of the Sandton CBD, between Woodmead and Kyalami, lies the 640ha Waterfall Residential Estates, which comprise the Country Estate and Village, an equestrian estate and two mature lifestyle estates,

namely Waterfall Hills and Waterfall Valley. There are more than 2,000 properties ranging from 600m² to 8,000m². Located adjacent to the new Waterfall CBD, these sought-after lifestyle estates offer residents an upmarket development to buy or build their dream home.

Waterfall is quickly becoming the preferred address for people who value a full and varied lifestyle, one that offers a spacious, secure environment for their family, upmarket living and true property value growth. With attention to detail in all areas of development,

“Waterfall promotes an integrated live/work/play environment” Waterfall promotes an integrated live/work/play environment that sets a new standard in quality estate living.

VALUE Since the launch of Waterfall, clients have already seen a 200% property value increase on their initial investment, and in many cases, even more. Due to high demand, a limited quantity of properties and unrivalled lifestyle facilities, values of property at Waterfall have and will continue to outperform the industry growth norm. In the last phase available in Waterfall, there are only 20 stands left, so don’t miss this opportunity and have to buy a resale at a premium. By buying a property at Waterfall, the leading

development in southern Africa, clients are not only making a savvy financial investment but also the best investment in their lifestyle.

RETIREMENT Waterfall Valley offers a retirement lifestyle unparalleled in SA. Its lock-up and go homes are designed for retirees who enjoy an active and social life, with an emphasis on healthy living, but who wish to simplify their lives by removing the issues of maintenance, insurance and security normally associated with private home ownership. With state of the art security and a multitude of lifestyle facilities, residents are fully catered for in every way in an upmarket, social environment.

RENTALS The Sheds@Waterfall consists of 72 freestanding homes ranging from 195m² to 270m² with well-appointed finishes and designer fittings. The development has its own clubhouse with swimming pool and clusters are

available to rent from R21,500-R28,000 a month.

FACILITIES Facilities include 37km of walking and biking trails that meander through 300ha of greenbelt along the riverside, a 5ha lake, a 5,000m² clubhouse with full gym, squash courts, studios, climbing wall, restaurant, indoor children’s play area and the Reddam House Waterfall private school. This means resident children can ride or walk safely to school without leaving the estate. Each stand also has a fibre optic connection and piped LP gas. Located in Waterfall, a number of convenient retail and commercial elements as well as the Mall of Africa will be accessible to residents on their doorstep. Waterfall Estate is on show daily from 9am-5pm.

GET IN TOUCH Waterfall Country Estate century.co.za Norman Mohr Tel: 082 903 7502

FOCUS ON: BLUE HILLS EQUESTRIAN ESTATE ADVERTORIAL

Refined country living Enjoy the benefits of a cosmopolitan suburban lifestyle alongside countryside tranquillity, a duality found at Blue Hills Equestrian Estate WORDS AND PHOTOS: SUPPLIED

he epitome of country living is the ability to build your dream family home in a secure environment away from the hustle and bustle of everyday life. The air is quiet and the landscape undeveloped, boasting traditional Highveld fauna and flora and green, rolling hills. By investing in an estate such as Blue Hills Equestrian Estate, you can expect a unique duality of country living and cosmopolitan suburban lifestyle. The estate is an ideal arena for a healthy, wholesome environment where the multitude of facilities are conducive to a safe, family-friendly lifestyle. Amenities include private schools, equestrian facilities, greenbelts with walking and cycling paths and children’s playgrounds as well as easy access to highways and commercial and retail centres.

VIEWS Set in a picturesque valley with spectacular views over Fourways and the Magaliesberg mountain range, the 202ha estate offers discerning clientele large stands to build their dream homes, spacious greenbelts, state of the art security, a Reddford House private school and retail and

commercial precincts on their doorstep. The property is known for its fauna and flora, with large dams and established indigenous forests. Blue Hills Equestrian Estate has an array of 128 stands ranging from 5,000m² to 15,000m², of which more than 75% have already been sold to savvy investors. Property values are expected to follow the sold-out Waterfall Equestrian Estate, where values have increased by 600% in five years.

INVESTMENT “Century Property Developments prides itself on creating viable and successful investment opportunities for our clients. With us, you can always be sure your investment will grow,” says Rob Emett, sales director at Century. The perfect example is Waterfall Equestrian Estate, where stands originally sold for R2m only five years ago; the last stand sold recently for R15m, giving investors a great return on investment. Century’s country living estates are on show daily from 9am-5pm.

GET IN TOUCH Blue Hills Country and Equestrian Estate century.co.za Musi Motsuenyane Tel: 082 806 1735

HOMEFRONT PROPERTY NEWS

MMI moves into Cornubia flagship office

inancial services group MMI Holdings has taken occupation of its new, purpose-built R306m KwaZulu-Natal regional headquarters in Cornubia, on Durban’s north coast. The move underlines the success of the multibillion-rand mixeduse development, a joint venture between Tongaat Hulett Development, the property development arm of agriculture and agri-processing company Tongaat Hulett, and the

Ethekwini municipality. MMI’s nearly 13,000m 2 flagship building will house more than 800 employees, consolidating staff from its Metropolitan Life, Metropolitan Health and Momentum Health subsidiaries under one roof from various offices in neighbouring Umhlanga. Access to Cornubia is being enhanced by the roll-out of the GO!Durban integrated rapid public transport network, while a 1.61-millionstrong labour force has

a literacy rate of 84.3%. In addition, their neutral accent mean a work force suited to business process outsourcing. Eris Property Group managed the development of the MMI building. Development manager Stephen Lawson says that given Cornubia’s location and that many staff are from the Umhlanga, Phoenix and KwaMashu area it made sense for MMI to locate its offices here. “Also, the public transport routes that run through

the precinct made it an obvious choice.” Says Mtura Matshini, development executive

at Tongaat Hulett Developments: “The rapid pace at which new tenants are taking up space at

Cornubia is testament to the appeal of the development to organisations of all descriptions.”

Abland’s Alice Lane precinct finished

bland has completed the third and final building in its Alice Lane Project. Located in the heart of the richest square mile in Africa, it is the home of law firm Bowmans. Originally a twostorey financial services building of 11,500m 2 in size with two basements, the total bulk now is 70,000m 2 with seven levels of basement housing 3,200 cars. The project took six years to complete. The property has three new office towers, which received a four-star rating by the Green Building Council of South Africa for the design, linked by a central landscaped piazza — a pedestrian friendly, public open environment. Says Abland development manager Janet Glendinning: “The location to amenities such as financial and legal services as well as the convenience of food outlets plays a significant role in achieving the Green Star SA rating, as this makes transport and access to the building more efficient.”

Clara Anna Fontein launches final phase

he second and final phase of The Village at Clara Anna Fontein in Durbanville, outside Cape Town, was launched this month. Total sales to date are almost R900m. Buyers snapped up 22 of the separate title townhouses in phase two at the launch. The 128ha Clara Anna Fontein estate borders a private game reserve and is expected to become one of the most sought-after addresses in Cape Town’s northern suburbs. Phase two of The Village

comprises 69 separate title freestanding townhouses with private, landscaped gardens. Houses, ranging in size from 178m 2 to 302m 2 , are priced from R3.7m-R6.75m. Colin Green, a director of Rabie Property Group, which is undertaking the development in a joint venture with the landowner, says the launch follows the sale of more than 80% of the 57 homes in the first phase for more than R200m, as well as the near sellout of 334 single

residential erven for more than R680m. The development includes a Reddam House High School, which opened in January, and a retirement complex yet to be launched. Construction of phase one of The Village is under way with handovers and transfers to be phased from October to March 2018. Construction of phase two is expected to begin in the latter part of this year with transfers and handovers taking place on a phased basis from August 2018.

Growthpoint invests in Maxishare facility

rowthpoint Properties is developing a bespoke steel manufacturing and galvanising facility in Boksburg East, Ekurhuleni for steel welded mesh

supplier Maxishare. It is a complete redevelopment of an existing Growthpoint site. The R70m custombuilt facility comprises 400m 2 of offices and an 8,000m 2 warehouse.

It has an expansion capability of about 2,000m 2 , and is twice the size of Maxishare’s current premises. Growthpoint Properties industrial development manager Leon Labuschagne

says the company incorporated permanent cranes into the building’s design to deliver a tailormade property that supports Maxishare’s specific requirements. The property has a

larger-than-normal foundation to provide the strength for the heavy machinery it will house. He says: “Keeping Maxishare’s time frames top priority, we investigated ways to match the

construction timelines to meet their target dates. To achieve this, we applied the latest technology in tilt-up columns, which are built on the ground and then raised with a crane.” The facility will be complete in July.

PRETORIA EAST

. . . D R N U A ! O T Y E S M D A L O I H U B BUY M A AND DRE Stand: R589 000 up to R650 000 Building: R1 225 000

Stand: R589 000 up to R650 000 Building: From R1 150 000

FAR = 120% of stand size Stand: R589 000 up to R650 000 Building: From R1 100 000 WERNER EKSTEEN

RE/MAX Jowic - Team Werner Eksteen

082 411 3089

082 577 4531 (Office) werner@wernereksteen.com

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Come and view our luxury apartment 12029. Available daily for viewings ALAN BECKER 082 718 8100 | alan@thehoughton.com WARREN BECKER 082 302 3004 | warren@thehoughton.com Houghton on 12th, 53 Second Ave, Houghton | Show apartment 12029