Business Day HomeFront 23 February 2018 by The Creative Group

HOMEFRONT WESTERN CAPE

Southern Peninsula 021 783 4222 / AtlanticSeaboard 021 439 7415 / Southern Suburbs 021 673 4200 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA 23 FEBRUARY 2018 WWW.BUSINESSLIVE.CO.ZA

MUST READ

Haldane Martin's smart designs PAGE 2

More strings to the conveyancing bow PAGE 12

Camps Bay / R22.5 million

Ref# BAY1346407

Bedrooms 4 / Bathrooms 3.5 / Garages 2 / Stunning views from this easy family home in a desirable position on the seaside of the road. Be mesmerized by the setting and the special lifestyle designed by Greg Wright. Wonderful flow from the living and dining areas onto a sparkling pool and garden. Separate TV room for the children, as well as a study with great sea views. Double garage with direct access plus storeroom Barbara Rogers 082 889 0140 / Karin Coetzee 082 887 4311

Developers eye sub-R2m market PAGE 16

View from The Legacy in Green Point

What tenants pay Sol Kerzner's exclusive estate

Millions put off by steep property prices are happy to rent — and developers have noticed

PAGE 8

PAGE 22

A PROPER(TY) RATES VALUATION Bantry Bay / R17.95 million

Ref# AS1345063

Constantia Upper / R15.5 million

Ref# KW1359651

Bedrooms 2 / Bathrooms 2.5 / Parkings 2 / A distinguished property of superior style, boasting luxury and exclusivity at sought-after ‘The President’. North-facing duplex apartment situated in prime location with top-class finishes. Well-designed kitchen with generous open-plan living and beautiful sea views. Master bedroom leading to private sea-facing balcony.

Bedrooms 5 / Bathrooms 4 / Garages 2 / A luxurious stylish gem. Located in a quiet street with fabulous views from every angle of the home, this magnificent property offers a unique lifestyle with superb finishes and attention-to-detail. The welcoming courtyard sets the tone of this elegant, sophisticated yet relaxed exquisite property, fabulous for entertaining.

Minette Munitz 082 457 2978 / Farrel Kelman 083 501 5015 / Melanie Truss 083 707 7033

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

Do you know yours?

We’re Real about Real Estate valuations@jawitz.co.za 0861 JAWITZ

HOMEFRONT DESIGN

Entrepreneurial force Internationally acclaimed design whizz Haldane Martin is adding a French cafe to his collection of distinctive commercial interiors WORDS: HILARY PRENDINI TOFFOLI :: PHOTOS: SUPPLIED

he Renaissance ladies whose graceful naked bodies will adorn the walls of Swan Cafe when it opens shortly in central Cape Town’s Buitenkant Street are on a different stretch of design turf from the macho steampunk vibe of Truth Coffee bar opposite it. Yet both interiors spring from the inventive brain of the same versatile designer, Haldane Martin. Swan Cafe is the new French creperie of Jessica Rushmere (originator of the city’s popular La Petite Tarte in De Waterkant). Serving crepes and canapes, it promises to be elegantly soft-edged and alluring. Truth Coffee is not. It is Mad Max and heavy metal — a moody locale that became a tourist attraction after it was voted the best coffee bar in the world after its launch seven years ago at the start of the industrial chic boom. Still hugely popular, Truth was the Cape Tech-trained industrial designer’s

first venture into interior design. It set him on a new path. Furniture was what had made his name. His uniquely South African pieces — such as his Songololo sofa and his multi-award-winning Zulu Mama basket chair (woven by rural women from recycled plastic) — had been exhibited abroad to general acclaim.

EXPERIENCE Now his design talents were themselves being recycled, and the chairs became a sideline. “The furniture business is small,” he says. “With Chinese imports the field became incredibly competitive. Interiors were the obvious way to go — more lucrative but still using our design skills to produce each separate element of a designed interior. A fluid process, all about understanding the client’s identity, and — in the case of the hospitality arena — creating an experience.” The experience he created

for Urbanologi restaurant in a historic old warehouse in downtown Johannesburg’s Mad Giant Brewery won him an international award last year. At London’s globally recognised Restaurant and Bar Design Awards, Urbanologi was voted Best Restaurant Design in the Middle East and Africa. What made this huge space memorable was the playful spin Martin and his team put on the Mad Giant ethos. An eightmetre laser-cut steel Yeti looms over a huge bottlecap-shaped bar. Exterior tables and benches jokily evoke giant Meccano toys. Monumental portrait graffiti by Justin Nomad light up the walls.

LOCALLY BASED Martin hopes the overseas interest will be a game changer for him. He has just returned from meeting potential clients in Paris and the UK, including the owners of an eco hotel outside London, but says whatever happens he will remain locally based. “Fee-wise we can do a lot more than designers overseas,” he says. “For the amount of creativity we put into our designs it would be great to be appropriately remunerated.” Now 47, he has racked up an impressive local collection of maverick commercial interiors since his Truth Coffee days.

GEOMETRICS

Kunjani Wines

Latest is Kunjani’s AfroEuro winelands tasting room, a postmodern Stellenbosch landmark. Hitech metal work contrasts with screens inspired by African geometrics. Colours are bold. A latte-look slatted-wood farmhouse ceiling offsets a variety of contemporary one-off furniture pieces. Though known for his uniquely hybrid South African design style, Martin says the proof that he is not attached to it — “I get bored quite easily” — are interiors such as the light and bright streamlined spaces he and

Truth Coffee

“Fee-wise we can do a lot more than designers overseas”

HOMEFRONT

his team came up with, for example for the Parow, Cape Town, head office of skin care company Environ.

ACCLAIM “The brand is big in the global market so we created a glamorous environment for its overseas agents. Organic shapes. Shelves patterned like skin cells. Lights that are molecular. A sculptural counter in the showroom. It’s a corporate space that is fresh and feminine.” Other offices he has designed include the Woodstock, Cape Town premises of Bos iced tea where he kept the red and yellow of the bold packaging he says is the secret of the brand’s success, and made lively

Haldane Martin

“There’s a line you can’t go below, but using basic materials such as bricks, concrete and pine plywood we can do projects that don’t cost the earth”

Zulu Mama chair

lamps out of Bos bottles. In Dubai he is creating an art deco coffee stand with a perforated aluminium screen such as the one that won him his first design prize in 1992 at the Style magazine Design Awards. He is also giving some office spaces softer edges through design. “We are doing an office for a fruit export business in a Victorian house on Paarl’s historical mile that is quite in keeping with the trend towards holistic corporate environments. “Silk flowers decorate one of the ceilings. We took the original floral wallpaper and created bold contemporary patterned wallpapers based on still lifes by Old Masters.”

HALDANE MARTIN ON BUDGETS AND TRENDS Which creative companies do you use? Robin Sprong for wallpaper, and for bespoke pieces of furniture, James Mudge, Laurie Wiid, Pedersen and Lennard, and Dokter and Misses. What is your staff component? Two young interior designers work with me and we bring in freelancers. We limit ourselves to about 10 projects a year. First we research the images for concept insight. Then we get client feedback. Next we refine it. We go through stages step by step. Finally it is a collaborative process

that we keep tweaking until it is perfect.

How do you handle budget limitations? There is a line you can’t go below, but by using basic materials such as bricks, concrete and pine plywood we can do projects that don’t cost the earth. We are currently pitching for a low-cost Cape Town ribs restaurant. What new interior design trends have you noticed? Only microtrends, which come and go quickly because they are all on Pinterest. People get it, then get tired of it.

Environ PRODUCED BY BLACKSTAR PROPERTY PUBLISHING Unit G4, Old Castle Brewery, 6 Beach Road, Woodstock, 7925 021 447 7130

A EDITORIAL TEAM Editor: Kim Maxwell Designer: Samantha Durand

PUBLICATION

Managing Editor/Copy Editor: Michael van Olst Production: Joanne Le Roux Content Business Manager: Catherine Davis

ADVERTISING SALES Michèle Jones Susan Erwee

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

084 246 8105 083 556 9848

WESTERN CAPE Southern Peninsula 021 783 4222 / AtlanticSeaboard 021 439 7415 / Southern Suburbs 021 673 4200

Camps Bay / R22.5 million

Ref# BAY1346407

Bantry Bay / R17.95 million

Ref# AS1345063

Constantia Upper / R15.5 million

Ref# KW1359651

Minette Munitz 082 457 2978 / Farrel Kelman 083 501 5015 / Melanie Truss 083 707 7033

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

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

We are Rooi Els

Rooi Els / R3.95 million Bedrooms 4 / Bathrooms 2 / Garages 4 Situated close to the rocks, facing west with views of False Bay to Cape Point. This house is a must to view, situated high up on the mountain. Ref# KN1350639 Nicola Lloyd 082 443 8376 / Wendy Cilliers 072 340 8263

Ref# KN1309621

Ref# HF1348223

Ref# HF1354503

Betty’s Bay / R7.9 million

Hemel-en-Aarde Valley / R45 million

Voëlklip / R4 million

Bedrooms 5 / Bathrooms 4.5 / Garages 4 Exceptional property at the ocean’s edge. 1 000 m² Underroof, with indoor pool and entertainment areas. All bedrooms have sea-facing balconies.

Bona Dea Private Estate. Exclusive fully-equipped and operational function/wedding venue located on 27.4ha in the beautiful Hemel en Aarde Valley. Price excludes VAT.

Bedrooms 3 / Bathrooms 3 / Parking 1 This well-maintained, wellplanned sunny home is warm and welcoming. 2 Separate dwellings that could provide an income.

Mary-Louise 082 594 0949 / Peta 083 528 1290

Exclusive Agent: Allan Lotter 072 768 9984

Exclusive Agents: Rose-Marie 082 877 6160 / Sue 082 892 8772

Ref# HF1360020

Ref# ON1318687

Ref# SW1355618

Voëlklip / R3.3 million

Benguela Cove Lagoon / R9.5 million

Somerset West / R3.5 million

Bedrooms 4 / Bathrooms 3 / Parkings 2 Embrace the views and lifestyle. This beautifully-presented modern cottage, with sunny mountain views, is located in a quiet street. Charming and private. Ideal as a holidaty let.

Bedrooms 4 / Bathrooms 4 / Garages 2 Prime property in exclusive lifestyle Estate. Set on a secure, private wine estate adjacent to the Botrivier Lagoon. Panoramic views of lagoon, Kogelberg Mountains and countryside.

Bedrooms 3 / Bathrooms 2.5 / Garages 2 A charming home in a secure estate. Includes fibre optic internet and is situated on one of the largest plots (885 m²) in the estate.

Exclusive Agent: Allan Lotter 072 768 9984

Exclusive Agent: Niel van der Westhuizen 082 967 0813

Liz 082 923 8869 / Janèl 073 246 0772

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 / R3.75 million Bedrooms 3 / Bathrooms 3.5 / Garages 2 Country-style living at its best, set on 3 000 m². Keep horses, grow produce and live your dream lifestyle. Ref# SW1292320 Leigh-Ann 081 851 3512 / Brian 079 960 9435

Ref# TK1335765

Ref# TK1352125

Ref# TK1353749

Winelands Estate/Paarl / R11.5 million

Paarl / R4.3 million

Paarl / R3.15 million

Bedrooms 4 / Bathrooms 4 / Garages 2 This house is in an enviable position on the Winelands Estate with uninterrupted views across the valley and Simonsberg Mountains. A comfortable well-laid out house with a beautiful entrance complemented by a water feature.

Bedrooms 4 / Bathrooms 3 / Garages 2 A spacious modern 4-bedroom house overlooking the mountains on Paryskloof Estate. The open-plan design flows effortlessly from one living area to the next. Vinyl flooring throughout lends a modern feel.

Bedrooms 4 / Bathrooms 2 / Garage 1 This family home is ready to move in. Welcoming entrance hall leads to the formal lounge with a cosy fireplace. The spacious family room is adjacent to the lounge with sliding doors opening to the pool area.

Lynette Schoeman 082 553 3045

Elaine Reeder 082 784 1453 / Michelle Hill 083 267 8181

Lynette Schoeman 082 553 3045

Ref# FWI1356475

Ref# FWI1358039

Ref# WEL1069704

Franschhoek / R3.75 million

Franschhoek / R5.75 million

Wellington / R5.35 million

Bedrooms 3 / Bathrooms 2 / Garage 1 Charming cottage located in a gated cul-de-sac in a quiet position in Franschhoek village. Offering open-plan kitchen lounge and diner, patio, single garage and mountain views. A delightful and affordable property.

Bedrooms 3 / Bathrooms 2 / Parkings 2 Beautifully, renovated, picture postcard cottage, set within the sought-after Franschhoek village. Water-wise exterior with newly-laid high-quality Astro-Turf grass. An opportunity to own a well-known property.

Bedrooms 3 / Bathrooms 3 / Garages 2 Diemersfontein is known for its beauty, informal elegance and grace. An idyllic Wine Estate only 45 mins drive from Cape Town and is situated near the Cape’s famous Wine Routes. Enjoy a highly secure lifestyle on a private estate.

Doug Gurr 072 610 7208 / Jeanine Allen 082 410 6837

Erika Odendaal 082 412 6964 / Lynette Kannemeyer 082 672 1022

HOMEFRONT PROPERTY TREND

What tenants pay Millions put off by steep property prices are happy to rent — and developers have noticed WORDS: MIRIAM MANNAK :: PHOTOS: SUPPLIED

hile owning property may be many people’s real estate dream, millions of South Africans are happy to rent. Most fork out between R5,000 and R10,000 a month on their homes. The largest group of tenants (31.64%) spend between R5,000 and R7,000 a month on rent. However, the overall picture is a mixed bag. The nextbiggest chunk (26.21%) falls into the R2,000-R5,000 bracket, according to PayProp’s rental index for Q3 2017. Another 16.34% spends R7,000-R10,000 and a slightly larger proportion (18%) rents for more than R10,000. For that period, rents were typically higher in the metros of Gauteng, Western Cape and KwaZulu-Natal, SA’s most economically active provinces.

Johannesburg and Pretoria The Verge, Sea Point, by Berman Brothers

Carlswald Luxury Apartments, Midrand, by Century Property Developments

Johannesburg offers plenty of options in terms of SA’s median rental of R7,308

a month, according to PayProp’s rental index for Q4 2017, particularly in areas such as Midrand and Fourways, says Century Property Developments head of operations, sales and marketing Jessica Hofmeyr. One such development is Century’s Riversands. “A monthly rental of R5,000 to R7,000 will give you a oneor a small two-bedroom unit that comes with free Wi-Fi and access to various lifestyle activities that include hip-hop dancing, art-andcraft classes and boot camp sessions,” says Hofmeyr.

BUDGETS Hofmeyr says Midrand is also suited to R7,000 to R10,000 budgets. “This will give you onebedroom, two-bedroom and even three-bedroom units at Carlswald Luxury Apartments, with all the above-mentioned facilities.” Centurion is another hot spot for tenants after value for money. Eco Park East, by M&T Development, is a good example. Rents here begin at R6,700 a month for a two-bedroom unit, with the first month free of charge. This mixed-use complex features a gym, swimming pool and play park, and is near a Gautrain station, schools, shopping malls and private hospitals. Prime locations in Gauteng such as Sandton and Rosebank, however, do not offer many options in the R5,000-R10,000 segment. “Rentals in Sandton start at a minimum of R7,000 in the older apartment blocks, but those are rare,” says MD of Seeff Sandton Charles Vining. He says R6,000 studio apartments are available in Johannesburg’s northeastern suburbs including Kew and Orange Grove, as well as in Rivonia. In Pretoria East, R10,000 will land a ground-floor unit with a private garden in the Hills Game Reserve Estate, which offers a clubhouse, gym, restaurant, a Reddford House private school and walking, mountain biking and game trails. “A popular apartment precinct in this sought-after development is The Oval Luxury Apartments,” says Hofmeyr.

HOMEFRONT "By the end of 2018 we will have rental units priced from R4,000 to R48,000 a month" Jessica Hofmeyr , Century Property Developments

Obs Court, Observatory, is under construction

Cape Town

BUYING TO LET Does it make sense to buy to let, considering the growing demand for rentals? It depends. When done correctly, buying into an investment property to let could be a good way to complement an income, says Berman Brothers Properties letting agent Jenna Arnsmeyer. “If you invest to let, make sure you seek advice from a qualified property agent and get a secure, detailed lease agreement to protect yourself from unforeseen circumstances,” Arnsmeyer says, noting that maintenance and other unforeseen costs could become costly. “In my experience the only way that buying to let works is in the quantity

and how much cash you can put down as a deposit,” says Century Property Developments head of operations, sales and marketing Jessica Hofmeyr. “If you have one unit, I believe it is a risky business. However, if you have 10 units and six are paid off in cash, then you can make it work.” Tyson Properties KwaZuluNatal rental manager Barbara Fisher says buying to let has more benefits than supplementing an income. “When buying in a prime area the rent may not necessarily cover the cost of the bond, levies and rates, but the property’s value will nevertheless grow. Rent can also cover some 60% of the ownership costs.”

Tenants looking for units in the R7,000 range in the Cape Town city centre will have a difficult time. City Bowl rentals in this bracket are mostly bachelor flats and hard to find, says Berman Brothers Properties letting agent Jenna Arnsmeyer. “In the R5,000-R7,000 market, you’ll get a studio apartment in an antiquated block in Woodstock and Observatory. The R7,000-R10,000 price range gets you a studio or a small one-bedroom unit in the above-mentioned areas and very rarely along the Atlantic Seaboard,” she says, noting that the R10,000plus price range offers a greater variety of options. The Verge is one of the Berman Brothers’ newest completed developments.

"Rentals in Sandton start at a minimum of R7,000 in the older apartment blocks, but those are rare" Charles Vining, MD, Seeff Sandton

One-bedroom units in this modern, secure block in the heart of Sea Point go for R14,000 a month.

STUDIO APARTMENTS Pam Golding Properties Cape region rental manager Dexter Leite says most developments catering to the midmarket are found in the so-called near eastern suburbs. “Obs Court in Observatory, which is under construction, will feature studio apartments for R7,000 a month.” Cape Town’s Northern Suburbs area is ideal for tenants with a limited budget. Suburbs include Parow and Goodwood, as well as those around the N7 such as Bothasig and Edgemead, and Kraaifontein and Kuils River. A much sought-after development is Buh-Rein near Durbanville and Kraaifontein. This multiple award-winning project by MSP Developments offers rental apartments from R6,400 a month. Most units, however, rent for between R7,500 and R8,500 a month, providing all tenants with access to jogging and cycling tracks, a multipurpose sports field, an open-air gym and a communal lifestyle centre with a swimming pool, jungle gym and a family restaurant.

Durban

The Oval Luxury Apartments, Pretoria East, by Century Property Developments

In Durban, a budget of about R7,000 allows a tenant a one-bedroom flat in Morningside, says Tyson Properties KwaZuluNatal rental manager Barbara Fisher.

“That, or a two-bedroom apartment in most other areas,” she says. “The under-R5,000 market is concentrated in Glenwood, Manor Gardens and Umbilo.” When it comes to areas such as North Beach and Umhlanga, R7,000 a month gives you a one-bedroom apartment in blocks such as Kirsten Grove. Let by Chas Everitt, these units come with a parking bay. Two-bedroom flats, smaller one-bedroom homes and townhouses in these areas go from about R9,000 a month.

DIFFICULT Fisher notes that it is becoming increasingly difficult to find a unit for R7,000 a month, particularly in popular areas. “As a result of strict bank lending criteria and a lack of affordability to buy, the rental market is increasing. "The principle of supply and demand kicks in,” Fisher says. “This results in climbing rent prices, sometimes to a point that landlords can ask for overinflated rentals.” Cape Town and Johannesburg are subject to similar trends. Century Property Development is therefore planning to tap into this market. “With the well over 1,500 units we let, our goal is to bring about 1,400 units to the market every year,” Hofmeyr says. The company has decided to cater for all income brackets. “By the end of 2018 we will have rental units priced from R4,000 to R48,000 a month.”

HOMEFRONT

LEGAL

Attorneys branch out Conveyancers create a platform to oversee the entire property sales process WORDS: SUNGULA NKABINDE AND SUPPLIED :: PHOTOS: ISTOCK

group of attorneys has formed a hub that enables conveyancing firms to market and sell properties directly to home owners, as well as handle the legal aspects of property transfer. There are many legal pitfalls to be aware of in dealing with property, and some property sale disputes may be prevented if the right person has been employed to handle the drawing up of the contract and the sale, says Meyer de Waal of MDW Inc. He is one of the co-founders of the Attorney Realtor Hub (ARH), a national property service where attorneys also sell properties. Fellow Cape Town attorney and hub founding member Chris Fick says the legal profession has not escaped the effect of disruptive technologies. The ARH uses a digital platform to provide tools that make it possible for attorneys to oversee the entire sales process. The ARH introduces

relevant parties to each other, helps with the conclusion of the agreement of sale and finalises the transaction by registering the deed of transfer and mortgage bond at the Deeds Office.

MEMBERS A number of attorneys in Johannesburg are members. To date 36 firms nationally have enrolled. “Some colleagues and I have been selling clients’ properties for a number of years. I started my own practice in 1998 with the purpose of getting involved with the marketing and sale of my clients’ properties,” says Fick. The ARH system allows attorneys to complement conveyancing with the option to sell and market clients’ properties. ARH charges a flat-rate commission of 2.5%, much less than the traditional 5%-7% typically charged by estate agents. The model is based on the notion that having a qualified attorney as a property realtor gives buyers and sellers

an advantage in terms of negotiating the best terms. “Entrusting the sale of your home to your attorney will ensure that all the roleplayers can sleep peacefully at night knowing that they are in safe, experienced and qualified hands —from the time the property is put on the market to the time the buyer is registered in the Deeds Office as the new owner”, says De Waal. It is an innovation bound to raise tension in the property industry. There is already a legal battle under way in which the newly established Proxi Smart Services has asked the Gauteng High Court to approve a business model where it will perform the administrative aspects of property transfers which do not require the skills of a lawyer. The application is opposed by the legal fraternity.

REGULATORY Rawson Property Group national sales manager Wayne Albutt is not entirely against ventures such as the ARH, but is worried about the regulatory aspects. He

“Conveyancers are fully entitled to facilitate the sale of property, but generally only when you already have a willing and able buyer and seller” Wayne Albutt, national sales manager, Rawson Property Group

says conveyancing attorneys are often not regulated by the Estate Agency Affairs Board (EAAB) and thus may not be obliged to comply with the Estate Agency Affairs Act. Attorneys are governed by the Law Society and laws and regulations pertaining to real estate property transfers, which are fundamentally different when considering the protection of consumers’ rights, says Albutt. “Conveyancers are fully entitled to facilitate the sale of property, but generally only when you already have a willing and able buyer and seller,” he says. “Regulating estate agents has more to do with everything that comes before this, as well as the actual final agreement of sale. “However, if the business process is manipulated for the benefit of effecting conveyancing as a result thereof, this is highly unethical,” says Albutt. Most conveyancers who enter into the real estate marketing and sales environment do

HOMEFRONT “ARH charges a flat-rate commission of 2.5%, much less than the traditional 5%-7% typically charged by estate agents”

it for this very reason, and, if so, he says the EAAB needs to regulate the industry accordingly. The trend of providing technology-based solutions for buying property is not new. Ooba, for example, offers a one-stop shop for home finance that allows users to find out how much they can afford and apply for home insurance. Rent2Buy, part of the ARH offering, helps to negotiate an agreement between potential buyers and sellers of properties valued at between R400,000 and R1.8m to enable the buyer to rent the property with the option to buy at a certain date, at an agreed price. Operating from a slightly different business model, Property Fox, like the ARH, cuts estate agents out of the buying and selling process completely, promising users big savings on commissions.

SAVING

Sale Partners also helps owners to sell their homes, but gives them access to the skills and experience of professional estate agents at an hourly rate, claiming to save the seller up to 95%12:41:18 on traditional Page 1 Template BD_Homefront straussv 13/10/16 commission charges.

Says Sale Partners CEO Andrew Smith: “We are taking a slightly different approach. We recognise that a private seller can use as much or as little of an estate agent’s services as he or she desires or needs to use, because everybody is different. “What we are saying (to home owners) is: ‘You can sell your own home but you do need an agent to step in at various stages of the process.’ One person might only need an agent to handle the drawing up of the documentation, while another person might want help with everything from showing the house to negotiating the price.”

NEW ROLE FOR CONSTRUCTION FIRM Various stakeholders within the residential property market are finding creative ways of generating new business. It is not uncommon for developers to partner with conveyancing attorneys to ensure the latter’s fees are included in the sale price of a property. Construction company Basil Read is now marketing and selling residential properties. It has launched Basil Read Homes, aimed at filling the gap housing space, in particular building 40m2

houses in the R400,000 to R700,000 bracket.

companies were reaping most of the benefit.

CEO Khathutshelo Mapasa says the objective is to build better value-for-money homes, which the company will market itself. Buyers will be able to choose from one of three designs.

“We will assist the buyer from the start of the process, to helping them find a bond originator. This includes getting their input on where their house is to be situated on the stand, to choosing the finishings.”

Says Mapasa: “We decided to move into residential development because we realised, from developing Cosmo City, that as a developer of land we were assuming all the risk and responsibility while other developers and

Basil Read Homes is close to breaking ground on Savanna City, a mixed-use development in Midvaal. The development includes houses, schools, retail facilities and parks.

SOLUTION Fick believes the ARH will enable participating law firms to offer an easy-to-use and financially beneficial solution to property sellers and buyers alike. “Property lawyers have always been able to network and collaborate with one another for the benefit of their clients and their practices. “With the marketing and selling of the properties of their clients, attorneys are taking their service to another level,” says Fick.

HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA

Property Investment Special Focus PHOTO: ANTON SCHOLTZ

Looking for the best option? Whether you’re downsizing, buying to let or weighing up potential returns from student accommodation or retirement, find your ideal development or investment opportunity in the March 9 Property Investment Special Focus issue

HOMEFRONT

DEVELOPMENTS

Push for sub-R2m homes Millennials entering the market are driving developer demand WORDS: MIRIAM MANNAK :: PHOTOS: SUPPLIED, SEEFF PROPERTIES AND ISTOCK

he clamour for homes in the R1.5m-R2m price bracket is growing. More property developers are expected to target this market in 2018 to take advantage of the trend, predominantly driven by first-time buyers under the age of 35. “These properties are in great demand,” says Leapfrog CEO Bruce Swain. The 2018 Leapfrog Property Market Forecast predicts that the sub-R2m market is expected to be one of the best-performing segments. “Considering that these properties are more affordable for first-time buyers and that no transfer duty applies to properties bought off plan — everyone wins,” says Swain.

QUALITY Claudius Combrinck, responsible for the marketing of Sitari Country Estate in Somerset West, says the estate is offering property at between R1.2m and R2.3m. “This is unquestionably a market segment where a great deal

of demand exists for quality residential offerings,” he says. The bulk of buyers at Sitari are from the Western Cape, Johannesburg and Pretoria.

ROBUST Seeff Properties chairman Samuel Seeff says the robustness of the sub-R2m real estate band is mainly concentrated in SA’s major metros, Johannesburg and Cape Town in particular. “Both are seeing a notable influx of people from other areas. Johannesburg has the highest influx of people coming from the countryside looking for economic prospects, while Cape Town has people coming in from other areas. This has naturally meant a notable uptake in the demand in the R1.5m-R2m sector.” Amdec Property Developments MD Nicholas Stopforth says the luxury market is feeling the heat. “While developers are bringing new products to the marketplace across a range of price bands, many are specifically targeting the R1.5m-R2m bracket. This

trend will continue as the luxury market is under pressure.” When it comes to Gauteng’s sub-R2m real estate market, Johannesburg’s northern suburbs stand out. Data by Seeff show that the demand is predominantly concentrated in Randburg (North Riding) and Edenvale (Hurlyvale, Highway Gardens, Eastleigh and Illiondale). In the south of Johannesburg, Alveda Park, Kibler Park, Mayfield Park, Winchester Hills, Ridgeway and Ormonde are prominent. Centurion near the Gautrain stations is in high demand, too.

CITY CENTRE In Cape Town, suburbs near the city centre — including Observatory and Woodstock — and the Northern Suburbs are good sub-R2m targets. “In Cape Town’s city centre and the Atlantic Seaboard this price does not buy you much,” says Tyson Properties City Bowl office manager David Terry. Buyers with this budget are

"Considering that these properties are more affordable for first-time buyers and that no transfer duty applies to properties bought off plan — everyone wins" Bruce Swain, CEO, Leapfrog

HOMEFRONT looking further out of town for better affordability. “If they want to buy in the inner city they will be buying a ‘fixer upper’. Developers in Observatory and the Southern Suburbs such as Kenilworth will target this price range for their more affordable units,” says Terry.

FIRST-TIME BUYERS Karla Coetzee, Seeff Properties’ manager for the Cape Town suburbs of Brackenfell, Kraaifontein and Kuils River says first-time buyers under 35 drive demand for real estate at less than R2m in Cape Town. “In Kuils River 40% of buyers are under 35 years old. They are after entry-level prices of about R980,000 for full title houses and R500,000 for flats.”

In Kraaifontein 37% of all buyers are millennials, says Coetzee. “Prices here range from about R600,000 for apartments and R1.1m for houses. The growth rate in Kraaifontein has been phenomenal.” Between Noordhoek and Kommetjie a 5.6ha area is being transformed into an estate. Homes at Cape Capri Security Estate are priced from R1.795m to R2.499m, VAT inclusive. Says Greeff Properties CEO Mike Greeff: “Cape Capri is a rare opportunity for first-time home owners to own a brand new quality Cape vernacular-styled home in a secure estate designed for a family, within a community and offering peace of mind, for a competitive price.” In other metros there is growing demand for

sub-R2m property. In Morningside, Durban, Tyson Properties Durban brand manager Kim Woods says demand is outstripping supply. “There is a pool of buyers desperate to find homes in this price range,” she says. Morningside has few new developments. “We are constantly trying to find land for developers. In this builtup area it is proving difficult.”

MENLO PARK In Northern Pretoria, Sencon Een’s Newstead in Menlo Park offers doublestorey and single-storey ground floor homes and one-bedroom flats priced from R1.06m to R2.42m. The new complex is near major access roads, the N1, shopping centres, restaurants, schools and the University of Pretoria

This Seeff Properties’ Kraaifontein, Cape Town home is on the market for R1.31m campus. Buyers of R1.5mR2m homes are after convenience and mixedused spaces, says Stopforth. “They are looking for the latest in technology, connectivity and security Increasingly, mixed-use precincts are offering all these benefits,” he says. “We see many investors and first-time buyers opting for mixed-use developments, where you can live, work and play in the same precinct.”

"There is a pool of buyers desperate to find homes in this price range" Kim Woods, brand manager, Tyson Properties Durban

RENTAL YIELDS

This Tyson Properties’ Musgrave, Durban home is on the market for R1.695m

Homes at Capri Estate near Noordhoek are priced from R1.795m

Amdec’s One on Whiteley at Melrose Arch is drawing attention, despite prices being higher — with apartments selling from just below R2m. “Located within Melrose Arch, each apartment offers urban living, ideal for working professionals and corporate long-stay tenants, affording investors excellent rental yields and capital growth,” says Stopforth.

One and two-bedroom apartments are priced from R1.295m-R2.233m at Seeff Properties’ SALT in Salt River, Cape Town

HOMEFRONT

Amdec’s One On Whiteley apartments at Melrose Arch, Sandton, are priced from just less than R2m Modern finishes and a sense of space are important too, says Combrinck. “Our apartment schemes at Sitari offer two-bedroom units with one or two bathrooms, as well as threebedroom and two-bathroom ground floor apartments with exclusive gardens. All feature quality finishes and include Smeg or Miele ovens, and Grohe taps.” The price range is from R1.2m to R2.3m. Pam Golding’s The

Regency in Menlyn, northern Pretoria, is another good example of a mixeduse development that caters for home owners in the R1.5m-R2m price range. Once completed in March 2018, the complex — which offers units priced between R1.2 and R2.8m — will boast a swimming pool, gym, restaurant, shuttle services to the Gautrain Station and Menlyn Park Shopping Centre. Despite his confidence

in the sub-R2m property market, Seeff notes that this segment is susceptible to financial strain. “Most buyers in this market are reliant on home loans. “Qualification is an issue,” he says, referring to consumers being hit by the increasing cost of living and a subdued economic climate. Getting the cash together for a deposit and transaction costs are also challenges to this market.”

Sitari Country Estate, Waterbrook, Somerset West apartments are priced between R1.2m and R2.3m

FOCUS ON: SAINT-GOBAIN ADVERTORIAL

Expertise for developers Saint-Gobain’s Developer Partner Programme offers a unique opportunity for professional developers to deliver world-class multiunit residential options WORDS: SUPPLIED :: PHOTO: ISTOCK

he Developer Partner Programme from SaintGobain, a leading international company in sustainable habitats, is designed to support professional developers in delivering world-class multiunit residential developments that set the benchmark in the South African residential market. The unique modular programme combines global expertise, local services and proven product solutions. These include:

1 Research Clients have exposure to Saint-Gobain’s comprehensive global and local market insights, including proprietary consumer research and residential case studies.

2 Technical design services Developers will be able to use Saint-Gobain’s technical support, including accredited architectural training, and access its proven design solutions and architectural network.

3 Specification Saint-Gobain offers competent product and solution specification services, whereby clients are able to call on specialist guidance with bespoke specification solutions. In addition, the company’s teams are able to guide preparation for Green Building Council rating tools.

5 Product supply Developers can make full use of Saint-Gobain’s wide range of guaranteed systems and solutions.

6 Performance monitoring Clients will be able to benefit from Saint-Gobain’s existing case studies and integrate performance monitoring into a development to quantify value to prospective home owners.

7 Marketing assistance Saint-Gobain partners with South African developers to promote their leading projects that take advantage of the company’s innovative products and technology.

4 Training

STAND 51

Saint-Gobain offers certified contractor training and skills development through the Saint-Gobain Youth Build Academy.

Val de Vie Estate in the Paarl-Franschhoek Valley was once again named SA’s top residential estate by global wealth

intelligence and market research company New World Wealth. As a worldclass estate, Val de Vie recognised the benefit of Saint-Gobain’s Developer Partner Programme and collaborated with SaintGobain to create Stand 51. Stand 51 will be designed and built using energyefficient materials on Val de Vie later this year, illustrating the principles of flexibility, openness, value and comfort. The Stand 51 website provides further information on the Saint-Gobain Developer Partner Programme.

GET IN TOUCH Stand 51 Michelle Cerruti Michelle.Cerruti@ saint-gobain.com stand51.co.za

SHIFTING PERCEPTIONS. DRIVING ASPIRATIONS.

YOUR PROPERTY DEVELOPMENT PARTNER

Undertaking groundbreaking developments and driving investment in infrastructure and services, Tongaat Hulett is helping to realise the vast commercial, industrial, retail, leisure and residential potential in the primary growth corridors of KwaZulu-Natal. www.thdev.co.za

BDH50023/2

HOMEFRONT PROPERTY NEWS

Kerzners launch blue-chip estate

he Kerzner family has launched the Kerzner Estate, set to be one of SA’s most exclusive residential developments. The 10ha estate is high on the slopes of Leeukoppie, Hout Bay, with views of Chapman’s Peak, the bay and valley. The estate will offer 48 luxury three-, fourand five-bedroom homes, priced from just more than R20m including VAT with no transfer duty. Seeff Atlantic Seaboard and City Bowl developments director Ross Levin says this will be the first development to carry the Kerzner name.

Hotelier Sol Kerzner bought the property in 1983 as his Cape Town residence. Developed as an eco-estate, each plot is about 1,500m 2. Levin says the houses will feature green elements and the use of natural materials such as wood and stone, tailored to suit each site, all developed under the supervision of Kerzner and his daughter Andrea. Six architectural firms are designing the homes for the first release. These include Dennis Fabian from Fabian Architects, Stefan Antoni

from ARRCC, Sean Mahoney from studioMAS, Jonathan Jacobs from Metropolis, Sally Tsiliyiannis from Gapp and Ian Gray from COA. House sizes will range from 374m 2-738m 2. The finishes will include double glazing, air-conditioning and rain water and grey water harvesting options. The development is selling on a plot-and-plan basis. “There is quite simply nothing like this estate anywhere in the country and this is a first of its kind. The homes are designed to be special in every way,” says Andrea Kerzner.

What retirees want

Water wise and luxurious

uxury residential development The Azure in Camps Bay has been designed with green efficiency and water sustainability in mind, says developer Horizon Capital. Four luxury residences are in the heart of Camps Bay, close to the beach. Each offers four en-suite bedrooms with a spacious master suite. Construction is set to begin during autumn 2018 with planned completion in mid-2019. Water-saving initiatives include a wellpoint that

will provide an independent water supply to each residence. This water will pass through an ultraviolet sterilisation unit, allowing residents to switch between municipal and wellpoint water. This will be supplemented with potable water storage tanks. A soak-away system will be installed whereby storm water is directed through a series of trenches, allowing replenishment of the aquifer, with only the overflow being

ll-in-one retirement estates are increasingly popular in SA, offering multiple amenities for residents within the property, plus the flexibility of a lockup-and-go lifestyle. “Retirement living is all about freeing up more time to enjoy this very special time in your life,” says Werner Scheffer, customer relations manager for developer Multi Spectrum Property. “Retirees want to travel and do things they haven’t had the chance to do. They want the ideal lock-upand-go scenario — a sound

investment knowing their property and the estate is well maintained whether they are there or away.” He says that lifestyle amenities within the estate or close by add immense value to residents’ daily lives — for instance a clubhouse to interact with fellow residents, a library, lounges or dining halls. “Social interaction is of utmost importance and an active social calendar is much needed.” To achieve this, he says retirement estates need to partner with specialist service providers to support what is being offered at the estate.

Zevenwacht Lifestyle Estate borders Zevenwacht Wine Estate and offers 99 luxurious freestanding homes. There are 54 independent living apartments and 15 assistedliving suites within the modern care centre. The estate has a clubhouse and a library area. For social interaction, the care centre has two dining areas, lounges and patios and a braai area. Scheffer says high levels of resident and estate support and security means that residents can leave their homes to travel with peace of mind.

directed into the city’s storm water system. A grey water system will be incorporated into the development whereby shower, bath and laundry water will be filtered, stored and used in a subsurface irrigation system. A key benefit is that less water will be lost to evaporation during irrigation. The Azure will also recycle swimming pool backwash water. This will be fed into a storage tank, filtered and fed back into the pool.

Durban’s business sector hungry for space

emand for space to accommodate Durban’s rapidly expanding business sector continues in a city that has a 1.6-million labour force. This is evident in the pace at which newly created space or facilities in the north coastal development corridor of Durban are taken up as expansion continues unabated, up to and including

King Shaka International Airport and Dube TradePort. Tongaat Hulett can provide tailored solutions for business process outsourcing (BPO), according to head of market solutions at Tongaat Hulett Developments Xoli Shabalala. “It has been identified as a compelling market sector in the region and Tongaat Hulett is committed to

facilitating development to accommodate this demand and open up attractive and profitable investment opportunities,” he says. The availability of affordable space is one reason KwaZulu-Natal has become a hot spot for call centres, says Shabalala. The province is home to more than 60 BPO centres and accounts for almost 50%

of SA’s financial services call centres. Tongaat Hulett is investigating the establishment of BPO parks that could host a number of facilities in one location. Tourism — a staple of the region’s economy — continues to show growth and demand for facilities. Research shows that hotels in Umhlanga represent 28% of the province’s hotel

market. Occupancies, rates and revenue have outperformed the national market for the past three years. “Interest from hotel operators is evident all over Umhlanga, with a spate of new hotels opening in the next year or two. The likes of the Radisson Blu Oceans Hotel, the Marriott Umhlanga and a proposed premium-

brand hotel for Umhlanga Arch demonstrate this interest,” says Shabalala.

The HomeFront February 9 issue reported that property developer Blok had launched EIGHTONN, a five-storey building in Sea Point’s Norfolk Road. The residential development was in fact launched on February 15.

Spacious top luxury apartments with each bedroom en suite

WE BELIEVE THE HOUGHTON A PA R T M E N T S ARE THE BEST HOME OFFERING IN GAUTENG

Apartments have their own lift and air-conditioning State of the art security and mobile interaction Concierge service at your call A constant electricity supply Water reservoirs

A 5-star hotel integrated with the residential apartments

Pools (indoor and outdoor), gym, spa with a medical offering Walks and access to the Jack Nicklaus signature golf course A deli and restaurants with deliveries

Serene and tranquil in the heart of Johannesburg (10min Sandton, 15min Airport) Breathtaking views from Northcliff to OR Tambo Achieving capital profits in excess of 50%

W H AT O U R RESIDENTS A R E S AY I N G

“I never knew what lifestyle was until I bought here” “I feel like I am on holiday” “I love coming home” “This is surreal living” “The best investment I ever made” “If I sold I could never replace this lifestyle” “No other development offers what we have” “It’s a best-kept secret”

VISIT US – IT’S ONLY WHEN YOU’RE HERE THAT YOU CAN EXPERIENCE AND BELIEVE Our team awaits to show you a lifestyle investment that you will never regret • LUXURY APARTMENTS FROM 3 BEDROOM EN SUITE STARTING AT R7,9M • HOTEL INVESTMENT OPPORTUNITY SUITES STARTING AT R4,4M TheHoughton.com COME AND VISIT US AT OUR SUPREME PENTHOUSE, A MANSION IN THE SKY – 5 EN-SUITE BEDROOMS, CINEMA, GAMES ROOM, 2 BED COTTAGE, POOL, JACUZZI and so the list continues. UNIT 12733- HOUGHTON ON 12TH, GATE 2, 55 SECOND AVENUE , HOUGHTON ESTATE. OSBORN RD

HOUGHTON GOLF CLUB

2ND A VE

OUR TEAM AVAILABLE DAILY FOR VIEWINGS WARREN BECKER 082 302 3004 | warren@thehoughton.com ASHLEIGH SMITH 073 220 7357 | ashleigh@thehoughton.com Houghton on 12th, 53 Second Ave, Houghton