HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA 27 SEPTEMBER 2019 WWW.BUSINESSLIVE.CO.ZA
Special Property Investment Focus
MUST-READ
Corporate design made to measure PAGE 2
Retirement: make a fresh start here PAGE 10
New student digs in Tshwane PAGE 12
The Johannesburg skyline with the business district on the right
Where to buy in Gauteng Commercial: the sky is the limit
While Gauteng is overflowing with attractive higher-end real estate bargains, there has been an upswing in the market for small and value-for-money properties in this province, especially in secure estates and developments
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HOMEFRONT INTERIOR DESIGN
Made to measure Design, texture and colour work together to revitalise workspaces in two recent Johannesburg corporate projects by Head Interiors WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED
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esign is at the heart of what we do. That is the tagline of Head Interiors, an iconic Johannesburg interior design firm based in Hyde Park. The company was founded by Michael Harrison and business partner Sharon Fihrer. After nearly 40 years of operation, the firm’s shareholders now include Richard Shaw, Salukazi Dakile-Hlongwane, Kagiso Matjila and Deirdre De Bruin. Head Interiors is the go-to company for luxury homeowners who are seeking clever custom solutions or for corporates looking to refresh tired workspaces with a practical approach and innovative design. It has captured
its share of this market by offering its clients a complete turnkey service. Consider these four trends in corporate workspaces:
1. SOCIAL OR SOLO “Although workspaces have been designed according to activity-based planning principles, there is an increasing realisation that they might not always provide sufficient privacy,” says De Bruin, partner and senior designer at Head Interiors. “Our executive space for a global tech firm was intuitive of the realisation that too much interaction and insufficient privacy take a psychological and social toll. “In this project, cellular offices feed off a central ‘piazza’ of collaborative open space. This feature
allows staff to participate at will and retreat again when necessary.” EXAMPLE: Dimension Data, Bryanston Floor space: 500m 2 Completed: April 2019 The brief: This leading global systems integrator and managed services provider moved into its Johannesburg headquarters more than 15 years ago. The building and interiors were in their original move-in state and so required a design refresh. The company requested that the interiors, including the CEO’s suite and offices of other members of the top management, be stripped and remodelled completely. Execution: Head Interiors introduced a style that
Bayport Financial Services
Dimension Data
“Cellular offices feed off a central ‘piazza’ of collaborative open space. This feature allows staff to participate at will and retreat again when necessary” Deirdre De Bruin, partner and senior designer, Head Interiors Dimension Data
Dimension Data
was welcoming yet contemporary, with an underlying industrial edge. The scope of work encompassed space planning, interior architecture and design, including furnishings, joinery and fit-out. Head Interiors introduced a new system of working through the inclusion of more collaborative, flexible spaces to inspire open thinking.
2. ORGANIC ELEMENTS “Despite being a tech company, they didn’t favour a hard, sci-fi glitzy interior. While Dimension Data is undoubtedly one of SA’s premier technology firms, it remains a humble company at heart,” says De Bruin. “Our response was to incorporate timber, the humblest of materials, not only to mirror
HOMEFRONT “We incorporated graphic and colourful wallpaper to create a fun, welcoming dining and meeting environment in an area that is used throughout the day” Richard Shaw, partner and head of residential, commercial and hospitality, Head Interiors
Bayport Financial Services the heart of the company but also to infuse the space with warmth. “What was particularly reaffirming about the project was to see the staff energised by their new surroundings.”
3. BOLD COLOUR AND DESIGN “The dining area and coffee shop is situated in a large open space that offers a lot of natural daylight. For staff, the dining area is a popular and welcome break-away zone from the busy call centre and corporate office spaces,” says Shaw, Head Interiors partner and head of residential, commercial and hospitality. “We incorporated graphic and colourful wallpaper to create a fun, welcoming dining and meeting environment in an area that is used throughout the day.”
Bayport Financial Services
EXAMPLE: Bayport Financial Services, Sandton Floor space: 15,000m 2 Completed: December 2018 Brief: Bayport has become one of the largest financial solutions providers of unsecured credit and allied products in SA. The
Bayport Financial Services A
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EDITORIAL TEAM Editor: Debbie Loots Designer: Samantha Durand
company wanted to consolidate its different divisions into one building. Head Interiors was asked to undertake space planning, interior design, finishes and fittings to adapt an existing building so that it visually communicates the client’s mission of providing financial solutions while embracing technology, product leadership and innovation. Execution: The fivestorey office comprises client interface areas, training and administrative facilities as well as eating areas. In keeping with the company’s desire for greater integration, the call centre training and administration facilities are open plan to encourage collaboration. For a younger generation of employees, the design style is dynamic and playful, informed by a strong exploration of graphics in both communal areas and office spaces. Vinyl applications with street artinspired details punctuate the pause areas and the training facility. Other features include a framed vertical garden. The office kitchen was remodelled and
upgraded, introducing a 120-seater café and staff dining area featuring food stations that cater for different tastes.
4. NATURE AND GREENERY “Nature is playing a role in the office more and more today. In a highpressure environment, contact or stimuli from the living world provides a much-needed release,” De Bruin says. “Vertical surfaces atop storage areas such as filing cabinets are becoming mini-gardens, whereas islands of greenery are a relaxing sight as you look across a floor plate. However, we need to be cognitive of the physical properties that come with living things – the incorporation of greenery needs to be managed carefully and considerately.” “We believe people have a natural connection with plants and through vertical green walls and screen systems the spaces are transformed with greenery and textures,” adds Shaw. “Subconsciously it also creates positive attitude and energy in the space.” headinteriors.com
PUBLICATION ADVERTISING SALES
Copy Editor: Christine de Villiers Production: Joanne le Roux
Susan Erwee Sarah Steadman
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083 556 9848 083 222 9153
FOCUS ON: SITARI COUNTRY ESTATE, SOMERSET WEST ADVERTORIAL
A haven in the Helderberg Launched only five years ago, Sitari Country Estate in the Western Cape is already a local landmark WORDS AND PHOTOS: SUPPLIED
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itari Country Estate has become one of the Cape’s most sought-after lifestyle estates. Nearly 1,000 properties to the value of more than R1.3bn have been sold here since its launch in late 2014. A large part of the attraction is the beautiful surroundings. Among the homes at Sitari are large green open spaces, herb gardens, orchards, hedges, pergolas, ponds and streams that offer residents complete tranquillity and immersion in nature. Children can run free and parents can enjoy strolling or cycling along the estate’s 14km bike and jogging path. The rehabilitation of the historic 21ha Klein Zeekoevlei Wetland, the second-largest wetland in the Helderberg basin, will also bring a special element of natural serenity to residents’ doorsteps.
ALL ABOUT THE LIFESTYLE Convenience and security are two of the most important considerations
for residents of an estate of Sitari’s calibre. And what offers greater peace of mind than having a first-rate bilingual school within the estate? Curro Sitari provides an excellent education to pupils from three months old up to Grade 12. Furthermore, Sitari’s Lifestyle Shopping Centre is expected to open in November and will feature the Shoprite Checkers Group as its anchor tenant, as well as Dis-Chem and a selection of other retailers. The top-notch security system features biometric readers and 24/7 staffed access control. The perimeter fence is electrified, with under-dig protection and heat-sensitive triggers, and inside the estate each junction will have four-way cameras connecting to the control room.
Prospective buyers have a choice of more than 50 one-, two- and three-bedroom Luxury and Premium Apartments with top imported brand fixtures, including Smeg, Miele and Grohe. Groundfloor units have private gardens. These exceptional apartments sell from R1.345m, including transfer duty. A number of them are already complete, making them ideal move-inready options or rewarding investment opportunities. Sitari’s Village and Country Homes are a superior selection of freestanding three- and four-bedroom homes perfectly suited for family living. They are now available from R2.995m to R4.485m, also including transfer duty. Homes are on show every day of the week.
IMPRESSIVE OFFERING Since inception, the R4bn Sitari project has attracted buyers not only from the Western Cape and the rest of SA but also from as far afield as the UK, Germany and Sweden.
GET IN TOUCH Sitari Country Estate Tel: 021 201 7337 E-mail: sales@sitari.co.za www.sitari.co.za
FOCUS ON: BEDFORDVIEW FRONTIER ADVERTORIAL
Urban living at its best Now is the time to invest in a new residential estate that combines the lifestyle appeal of the suburbs with the convenience of the city WORDS AND PHOTOS: SUPPLIED
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GET IN TOUCH Mizolux Tel: 074 382 1000, 084 033 3115 E-mail: info@mizolux.co.za www.bedfordfrontier.co.za
ust on the border of the affluent suburb of Bedfordview, you’ll find Bedfordview Frontier Residential Estate. Leafy and lush, the area offers an exceptional lifestyle. Its appealing mix of amenities and proximity to Joburg’s business districts and airport makes it ideal for families, professionals and business owners alike. Whether you’re looking to purchase property as an investment or as a home, Bedfordview Frontier Residential Estate has the suburb’s many assets on its doorstep, as well as a host of its own. The first phase of one-, two- and threebedroom show houses are now complete and ready to view. The properties have been designed with superb attention to detail. Spacious and luxurious, they have elegant finishes throughout and sleek Smeg appliances in the kitchen, and buyers can personalise their homes by selecting porcelain flooring and kitchen materials of their choice. Developed to provide residents with every possible convenience, the estate’s lifestyle features include a clubhouse with a private pool, a gym and a kids’ play area. The 24-hour security is state-of-the-art, the entire estate has fibre connectivity and there is ample parking space. The on-site convenience store is a lifesaver when residents run low on basics,
and the daycare facility is a standout for parents of young children. For families with kids of schoolgoing age, Bedfordview and surrounds offer many outstanding public and private schools, with the excellent Reddam House situated just opposite the estate. Eastgate, Bedford Centre and Park Meadows shopping centres, as well as the Life Bedford Gardens Hospital, are conveniently close. So is the R24 and other major highway networks connecting you with the rest of the city – but without the associated traffic congestion. Investors can expect a rental yield of more than 10% from the onebedroom apartments. The development will be generating its own capital growth within the estate, with property prices expected to increase between 10% and 15% per phase as Phase 2 and 3 are launched. As such, it’s forecast that properties purchased during Phase 1 will increase in value by at least 25%. Clearly there cannot be a better time to invest. Bedfordview Frontier Residential Estate is on show every day from 1pm to 5pm at the corner of Langermann Drive and Smith Road, Kensington. With prices starting from R1,099,950, including VAT and transfer fees, the development has been approved by all major banks. Occupation is set for the last quarter of 2020.
HOMEFRONT HOT TOPIC
Where to buy in Gauteng While Gauteng is overflowing with attractive higher-end real estate bargains, there has been an upswing in the market for small and value-for-money properties in this province, especially in secure estates and developments WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
Zotos Construction's Skywood in Bryanston
“Most of Johannesburg’s wealth is concentrated in Sandton, which is home to the JSE, the largest stock market in Africa, and to the head offices of most of Africa’s largest banks and corporates” Andrew Amoils, New World Wealth
Melrose View by Craft Homes
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ontinued demand for housing in the low- and mid-tier pricing band is reflected in annual growth that exceeds the national house price inflation index by more than 0.4%. With the market ranging between 2% and 5% for some time after a recent slowdown, Lightstone’s Residential Property Indices for August 2019 highlight growth in the low- and mid-value wealth segments at more than 4% annually.
“Our inland municipalities of Ekurhuleni, City of Tshwane and City of Johannesburg are growing stably at rates of between 1% and 4%”, the report states. Because real estate lags the real economy by 12 to 18 months, says Nedbank CIB executive for residential finance Somaya Joshua, pre-sold stock is still coming to market in the mid-tier housing sector (priced between R1.5m and R2.5m) in the traditional suburban nodes in Gauteng and Pretoria. “However, because of current economic conditions, effective demand
iQ Brooklyn in Pretoria is ideal for students
has reduced,” she says. “It is becoming more difficult for people to access funding and get the traditional 100% bond to buy that aspirational home, so we’re starting to see an uptick in affordable housing again.
TOTAL WEALTH “For example, areas like Randburg have had an increase in brownfield conversions – old office buildings being converted into residential apartmentstyle products. These offerings are attractive at rental price points below R8,500 per month.”
Yet, according to New World Wealth, Johannesburg is one of the top five wealthiest cities in Africa. The global market research group’s 2019 Africa Wealth Report states that total wealth held in Johannesburg amounts to $248bn. The total wealth assessment represents private wealth held by all individuals living in the city, including all assets (property, cash, equities and business interests), less any liabilities. “Most of Johannesburg’s wealth is concentrated in Sandton, which is home to the
HOMEFRONT ROSEBANK RISING 100 Oxford
34 units
The Caversham
The Vantage Rosebank No 12
4 sold (on first day of launch)
@ R29,000/m2
Apex on Smuts
75 units
49 sold
@ R32,000/m2
13 units
13 sold
@ R29,000/m2
The Tyrwhitt
219 units
153 sold
@ R35,000/m2
165 units
165 sold
@ R30,000/m2
Park Central
150 units
141 sold
@ R45,000/m2
9 sold
@ R31,500/m2
The Median
126 units
91 sold
@ R46,000/m2
12 units
SANDTON Central Square
HYDE PARK
HOUGHTON Tree Tops 131 units 79 sold R33,200/m2
180 units 141 sold R40,000/m2
The Emerald 57 units launched 45 sold R33,000/m2
DUNKELD Six Bompas 22 units 15 sold R29,000/m2
Kent Ridge 80 units 13 sold R35,700/m2
MELROSE Melrose View 30 units 20 sold R28,000/m2
Metropolis on Park 128 units 108 sold R42,000/m2
Capital on the Park 240 units 180 sold R42,000/m2
Embassy Towers 93 units 78 sold R46,500/m2
Masingita Towers 174 units 159 sold R44,000/m2
One on Whiteley 241 units 220 sold R45,500/m2
Source: Landsdowne Property Group JSE, the largest stock market in Africa, and to the head offices of most of Africa’s largest banks and corporates,” writes New World Wealth’s Andrew Amoils. “Exclusive suburbs in Johannesburg or Sandton include Hyde Park, Sandhurst, Houghton and Westcliff.”
SWEET SPOT
Bedfordview Frontier Residential Estate
Kikuyu Waterfall, a Balwin Properties offering in Midrand
Meanwhile, the FNB Q2 Property Barometer flags “attractive bargains in the higher end”. This report states that house prices have begun falling in Sandton and environs (the most expensive region in the city), registering -1.7% year on year in Q1 19. “A similar trend emerges in
other higher-end areas (in terms of average prices) such as Randburg and Midrand, which recorded 0.4% and 2.0% year on year in Q1 19 from 1.7% and 2.4% year on year respectively in Q4 18,” it says. The City of Tshwane’s estimated average house price registered 1.5% year on year in Q1 19, down from 1.9% in Q4 18. Prices in Pretoria East and Centurion fell by 0.01% and 0.8% year on year respectively in Q1 19. “In contrast, the northern subregions, primarily comprised of middle and low-income areas, are trending upwards,” write the authors. Pam Golding Properties’ Johannesburg North Quarterly Report of April 2019 cites residential properties priced up to R5m as sought after, “with the sweet spot being properties priced below R1.5m”. These offer value for money for first-time buyers and appeal to those looking for smaller properties. In Morningside, sectional title units priced below R1.5m are snapped up as soon as they are listed. In Ferndale, Randburg, houses are priced up to R1m, while clusters are priced in the early-R2m range. Demand is greater for sectional title units priced between R800,000 and R1.2m in Fourways suburbs, whereas those looking for good security and lock-up-and-go convenience, coupled with easy maintenance, look for secure estates that suit their lifestyle.
HOMEFRONT
Kikuyu Waterfall by Balwin Properties offers world-class amenities
LATEST ATTRACTIONS The interior of one of the Skywood apartments by Zotos Construction
New and established residential hubs in Gauteng offer a sought-after, safe and convenient lifestyle close to major business centres.
VIEWS AND MORE
100 Oxford in Rosebank by Landsdowne Investment Properties
“Our buyers include young couples and families whose two highest priorities are security and convenience” Evelthon Rotsides, director, The Iconyc
Developments like The Iconyc in Benoni tick all those boxes and more. Conceptualised by a dynamic team channelling the New York City look as well as lifestyle, The Iconyc overlooks the 17th and 18th holes of the Ebotse Links golf course on the CR Swart Dam. “Our buyers include young couples and families whose highest priorities are security and convenience,” says director Evelthon Rotsides. The Iconyc also appeals to investors thanks to its proximity to the airport. “Our ground-floor units with patios are popular as they are pet friendly,” says Rotsides. “Also in high demand are our two- and three-bedroom first-floor units, with their extended balconies with views of the dam and golf course.” Prices start at R1.35m.
PRIME LOCATION
The Iconyc development in Benoni
Also in a prime location near OR Tambo International Airport is Bedfordview Frontier Residential Estate. Near major routes, hospitals, schools and malls, the estate’s lifestyle component comprises a gym, a clubhouse with café, a convenience store, a swimming pool and a crèche. “It’s priced from R999,950, and buyers range from bachelors who look at our one-bedroom offering, as well as young adults, newlyweds and couples starting families who go for the twobedroom, two-bathroom units,” says Rui Magalhaes of First Wave Holdings. “The three-bedroom, two-
bathroom units are 127m2 and favoured by the more mature client who has had enough of large gardens and maintenance but still wants a relatively large apartment.”
WORLD-CLASS Balwin Properties’ answer to a conveniently situated development is Kikuyu in the beautiful Waterfall, a fast-transforming suburb. The apartments are fibreready and equipped with world-class amenities, ecofriendly appliances, pre-paid utilities and solarsupplemented electricity. Each unit has a balcony for outdoor entertaining. This secure estate also has a lifestyle centre with magnificent facilities such as a concierge service, an Amici restaurant and pizzeria, free Wi-Fi, a mini sports field, a swimming pool, a Camelot spa and a cinema room. A onebedroom, one-bathroom apartment starts from R859,900. Double up for R1,449,900 or go large with three bedrooms and two bathrooms from R1,599,900. There are no bond or transfer costs.
ULTRA-MODERN Students looking for affordable accommodation will love the location of iQ Brooklyn, just 800m from the main campus of the University of Pretoria. Priced from R995,000 for a studio, including transfer costs, the ultra-modern development offers superb security, lightning-fast internet and much more.
SECTIONAL TITLE Craft Homes believes sectional title is the most popular ownership structure in Gauteng. One of the few developers to offer sectional title schemes where each unit, section
or house is detached from any others, Craft Homes gives residents the benefits of security and affordability without compromising on space and exclusivity. With developments such as Waterfall Ridge, Melrose View and Pebble Lane being located in vibrant areas, its sectional title properties are perfectly positioned for easy access to arterial roads, public and private schools and retail options. Craft Homes is also at the forefront of nodal developments such as Hazeldean and Sandton Gate, where it plays a leading role as a residential developer within a greater lifestyle precinct.
CORPORATE GROWTH Meanwhile, Rosebank is the zone to watch in terms of “big city” investment in SA, according to Landsdowne Investment Properties CEO Jonathan Kohler. “The increase in corporates needing to house international executives and business people from Cape Town and other regions working in Sandton are the reasons new developments such as 100 Oxford are in demand,” he says.
LUXURY DESIGN Just a few minutes from the Rivonia CBD, Skywood is a new sectional title development by Zotos Construction. It comprises 29 three-bedroom duplex townhouses designed with understated luxury by Mark Laburn. “Whether you are looking for the ultimate buy-tolive-in home or to add to a property portfolio assured of excellent long-term growth, Skywood in Bryanston offers a range of attractive features,” says business development manager Walter Panto. Prices start from R3.49m.
FOCUS ON: MELROSE VIEW, MELROSE NORTH
ADVERTORIAL
Find the luxury in city living Working in Joburg? The best way to find a good work-life balance is to live near the office, and Melrose View might just be the answer to having more time for yourself WORDS AND PHOTOS: SUPPLIED
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ome of us get the idea of “Joburg luxury” completely wrong. We see ourselves in the car of our dreams driving down William Nicol on the way to work when, in fact, real city luxury (or perhaps even city happiness) could be found not when you upgrade your ride but when you shorten your commute. Living closer to work adds more time to your day and more buck to your budget, plus recent research shows it can improve your overall wellness. As the economic engine of the country, Johannesburg holds more opportunities to climb the corporate ladder or to kick a new startup into gear, but drawbacks like traffic, road rage and work-related stress are almost unavoidable. The solution to Jozi’s commuting conundrum
could be as simple as spending less time on the road. The trick then would be to find the perfect location: a place close to your and your partner’s workspaces that also offers other amenities you require. Looking at the three main business districts in Johannesburg – the CBD, Sandton and Rosebank – one location that ticks all the boxes is Melrose View in Melrose North. This new residential development by Craft Homes allows residents to connect easily to the three business hubs and is close to top schools, health clubs and the popular Melrose Arch precinct. In addition, these spacious three-bedroom, three-and-a-halfbathroom apartments have breathtaking views of the city, secure garages, storerooms and a choice of elegant interior finishes.
With only five units remaining in Melrose View, selling from R4,190,600 to R4.785m, this surely is a golden opportunity for anyone looking to make the move closer to work and to cut down on the commute. An added advantage is the generous size of these homes, ranging from 150m 2 to 200m 2 . To find out more about Melrose View, visit the Craft Homes website or make your way to the furnished show house that is available for viewing on weekends and by appointment on weekdays. Occupation of these exclusive homes is set for November 2019.
GET IN TOUCH Craft Homes Tel: 08600 CRAFT (27238) crafthomes.co.za
HOMEFRONT RETIREMENT TRENDS
Gauteng: SA’s top retirement province HomeFront explores where current or future retirees can find value in this sought-after residential segment in this region WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED
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t’s official. Stats SA has confirmed that the highest percentage of SA’s mature citizens live in Gauteng. Its mid-year population estimate for 2019 shows that the most populated area for seniors (those aged 60 and older) is Gauteng, where 23.9% – 1.27-million South Africans – currently live. People
older than 60 make up 9% of the country’s population. Globally the proportion of people over the age of 60 is also increasing. Fortunately property developers understand what the over-50 market is looking for in terms of everyday living. The changing retirement landscape uses integrated
Waterkloof Marina Retirement Estate, by Central Developments Property Group
technology and combines quality architectural design with convenient locations. It stands to reason that the demand for homes and apartments modified for the lifestyle and care needs of this sector is increasing. “There is a growing market for retirement accommodation because people reaching retirement age, whatever that may be, no longer wish to move into an old-age home,” says Pam Golding Property group CEO Andrew Golding. “With people living considerably longer, it is a new market, plus this age category is leading a more active and independent life, hence the change in demand for a type of lifestyle,” Golding says. Evergreen Lifestyle brand marketing director Arthur Case says retiring baby boomers are looking for lifestyle solutions for independent living, both in homes and apartments. “Purchasers are generally
scaling down in terms of house size but scaling up in terms of lifestyle – access to technology, resort-style facilities, good security and care when you need it, to avoid the need to relocate later in life.”
RESORT LIFESTYLE In Johannesburg, Evergreen Broadacres offers appealing homes and luxury apartments built around a scenic natural wetland. A 2,000m² “resort-style” lifestyle centre has dining areas, lounges, a gym, a heated indoor pool, games rooms, a library and a beauty salon. Upstairs a 2,000m² care centre with 32 beds has its own dining and lounge areas, so that care is discreet and does not impact the independent-living lifestyle of healthier residents. Primary, recuperative, frail, dementia and palliative care are on offer to residents who need it. “Evergreen has had tremendous success with the
life rights purchase model in the Western Cape and Gauteng,” says Case. “Life rights are chosen by retirees who do not want the burden of estate management and property risk.” La Vie Nouvelle Retirement and Wellness Village, also located in Broadacres, was completed in August. The village has 220 units, varying from two- and three-bedroom simplexes to one- and twobedroom garden cottages, starting from R1.4m. A wellness centre offers various facilities including a heated pool, hydrotherapy, a gym and mental acuity and training. “A retirement estate offering the correct combination of benefits generally attracts good rental demand,” says Calgro M3 Developments head of marketing and sales Ashika Veerasamy. “Based on the concept of holistic wellness, La Vie Nouvelle’s offerings and facilities are aimed at creating overall wellbeing. This flows through from the specialised architectural design and greening design principles, on-site wellness centre and amenities to guarding and monitored access security measures.”
GREEN CERTIFICATION
Evergreen Broadacres in Johannesburg
Celebration Retirement Estate in North Riding in Johannesburg and Waterkloof Marina Retirement Estate in Tshwane’s Waterkloof Ridge are two retirement estates pitched at the over-50 market and sold under the brand RetireNow.co.za. Celebration is Gauteng’s first retirement estate to receive Edge (Excellence in Design for Greater Efficiency) certification from the Green Building Council SA for energy-efficient green design. The energysaving design, technology and materials used deliver a minimum of 20% more energy savings, keeping costs down. Celebration’s
HOMEFRONT
Devmark’s Nooitgedacht Manor near White River in Mpumalanga
Celebration Retirement Estate in North Riding
“Purchasers are generally scaling down in terms of house size but scaling up in terms of lifestyle – access to technology, resort-style facilities, good security and care when you need it” Arthur Case, brand marketing director, Evergreen Lifestyle
La Vie Nouvelle Retirement and Wellness Village in Broadacres
second phase was released this month, with apartments selling from R925,000 and houses from R2.12m. Waterkloof Marina is the province’s first waterfront retirement estate. Here residents can enjoy fishing, birdwatching, canoeing, cycling and hiking around the lake. The development has sold 250 units since its launch in July. It is already releasing its second phase of prime waterfront homes: apartments prices start from R1.248m and houses from R2.2m. All Central Developments’ retirement estates offer full ownership, meaning residents own the property outright and also have an undivided share in the common property (it is a sectional title scheme). “Full ownership, coupled with high rental demand, result in an excellent investment with returns of up to 16% per annum – 8% rental returns and 8% capital growth – on selected units,” says Central Developments Property Group MD Anton Crouse. “We see more and more younger people investing as part of their own retirement planning, thus buying a retirement property at today’s prices and letting it until they or their parents want to move in, while getting aboveaverage returns on their investment,” he says.
GROWTH POINT
The Retreat in Hazeldean, by Craft Homes
In upmarket Tshwane East, big things are happening in the developing Hazeldean node. At The Retreat, 24 apartments are currently for sale and under construction. Residents will have access to a large clubhouse, three indoor pools, a gym and a billiards room among others.
“Some retirees benefit from better financial planning than others, so we offer great value with an apartment in a fully operational estate in a good neighbourhood, with free access to all those amenities. One- or two-bedroom units on the ground or first floor (with lifts) start from R899,000,” says Craft Homes marketing manager Jessica Cabanita. Apartments are only a small percentage of what’s on offer at The Retreat, however. Seven phases of freestanding homes have already been completed in this established, landscaped development. Hazeldean itself is also on the up. “Together with Abland, we’re developing the Hazeldean mixed-use nodal development of 950ha. In time, there will be a shopping mall, a hospital, office parks and a Gautrain station,” says Cabanita. Seeff Pretoria East estate agent Jimmy du Preez recommends Vergelegen Retirement Village in Tshwane as a solid sectional title buy. It is ultra-modern with a complete range of facilities: selling points include 24/7 manned security and a medical facility inclusive of frail care and a dedicated Alzheimer’s section. There is free Wi-Fi in all units. One- and two-bedroom apartments sell from R970,000, and two- and three-bedroom garden units from R1.555m, whereas three-bedroom townhouses with gardens and garages start at R2.195m. Alternatively, Du Preez recommends Equestria Village Retirement Centre. “This village in Tshwane offers a unique setup with all units available on an affordable life rights option,”
he says. “They are costeffective, with more floor space available for the price.” One- and two-bedroom apartments here start from R795,000, and two- and three-bedroom garden units from R1.395m.
OUTLYING AREAS Investors looking to retire in Gauteng’s urban hubs are spoilt for lifestyle estate choices offering top-notch amenities and facilities. But outlying destinations are also attracting future retirees looking for an experience-rich lifestyle and a relaxed pace. Devmark Property Group recently launched its first retirement village outside the Western Cape as part of The Retirement Collection. Nooitgedacht Manor Lifestyle Retirement Village is on the northern side of White River, a developed town with schools, shopping and cinemas. It is 35km from the Kruger National Park, with easy access to Kruger Mpumalanga International Airport. “Situated in a peaceful corner of the Lowveld, these homes combine traditional Bushveld style with contemporary appeal,” says Devmark Property Group residential development director Jean Ehlers. “The five phases of the development will offer 63 freehold homes and apartments and a fullservice sub-acute hospital. It will also have excellent communal facilities and state-of-the-art security.” Nooitgedacht Manor will comprise three accommodation types, including freehold homes, cottages and apartments, with prices ranging from R1.495m to R3.895m. Construction will commence in mid-2020.
HOMEFRONT PROPERTY NEWS
Luxury accommodation for Tshwane students
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shwane’s new upmarket student apartment complex offers investors a buy-to-let option for less than R1m a unit, with no transfer costs. iQ Brooklyn is located in Brooklyn, Tshwane East, 850m from the University of Pretoria. Phase 1 was launched in 2018 and the second and final phase will be completed in November. “This is a secure development giving students a value-added luxury living option at affordable prices,” says
Ilma Brink, regional development sales and commercial property manager for Pam Golding Properties Pretoria. Studio apartments start at R995,000; one-bedroom apartments are priced from R1.4m; and two-bedroom apartments sell for R1.6m. Some of the packages include furniture. Brink reports a steady increase in investor interest in the student market, thanks to rental returns of between 13% and 15%. Monthly rentals range
from R7,000 for a studio apartment to R10,000 for a one-bedroom unit and R14,000 for a twobedroom apartment on long-term leases. Parents also see value in buying secure apartments for their children to use during their tertiary studies. Amenities at iQ Brooklyn include Wi-Fi, DStv, prepaid electricity, a pool and sundeck, cafeteria facilities, laundry services and group study rooms, as well as 24-hour security with biometric access.
London and Berlin top Gen Z liveability index
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he 2019 Generation Z City Index by apartment search site Nestpick rated 110 cities worldwide using data relating to advocacy, digitalisation, liveability and business opportunities, among others, to determine which locations are the most prepared and best suited for Generation Z (those born between the mid-1990s and early 2000s). Born into a climate crisis and a global recession, this demographic is deemed the most digitally connected age group.
In spite of Brexit, London was found to be the number one city of choice for Generation Z. With a focus on values, London’s overall compatibility with Generation Z principles, ability to meet educational needs and strong business opportunities makes it the strongest-performing city on the index. Berlin is an appealing option, as the only city in the top 10 that does not fall into the top 50 cities with the highest cost of living.
Stockholm comes second as the city of choice, and is also number one for digital payment and banking, environmental action and the right to protest. Los Angeles ranks third overall and is also placed third for education. Cape Town ranks 90th worldwide. The 110 cities ranked on the index comprised 22 in North America, seven in South America, six in Australia and New Zealand, 51 in Europe, four in Africa and 20 in Asia and the Middle East.
Record sales for Cape retirement village
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uh-Rein Retirement Village has achieved record sales of more than 140 units in less than a year. Launched in November 2018, the development is on the award-winning Buh-Rein Estate in Cape Town’s Northern suburbs. Priced from R919,900, including transfer duty, these independentliving and assisted-living apartments offer good value. Developer Multi Spectrum Property (MSP) estimates that the estate
makes an average of 15 sales per month, including both types of units. “MSP aims to meet the real needs of real people, and we do so at BuhRein Retirement Village by offering well-priced sectional title ownership properties,” says MSP CEO Riaan Roos. “Priced from less than R1m, they cater for retirees who wish to stretch their available funds but also want to enjoy a great lifestyle.” Roos believes this retirement segment serves a
market previously ignored. “Our sales indicate that we have hit the spot in terms of demand. We are now arguably the fastest-selling new retirement estate in the Western Cape.” Only 10 apartments remain on offer in Phase 1 and registration just opened for Phase 2. “Because of our high monthly sales at BuhRein Retirement Village, despite a subdued property climate, we have opted to include an early-bird registration list for the new phase,” says Roos.
GDP up; Cape estate agents expand reach
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tatistics SA reported that the country’s GDP grew by 3.1% in Q2 19, compared with a decline of 3.1% in Q1. SA has avoided a technical recession and now has a better chance of
side-stepping a sovereign debt rating downgrade by Moody’s in November, says Carl Coetzee, BetterBond’s new CEO. Despite a recent slowdown in Cape Town home sales, Chas Everitt
International franchisees have invested in new offices in anticipation of a market turnaround. Among these is its new operation in Constantia Village, at the heart of a heritage area hard hit recently by emigration,
a stagnant economy and a decline in foreign buyers. “This will further strengthen our position and interest in the area and expand our penetration of the upmarket belt along the mountain slopes from
Constantia and Bishopscourt to Newlands,” says Chas Everitt Constantia principal Sally Gracie. Sales are set to “improve significantly” in the coming summer, she says. For example, a fivebedroom home in Upper
Constantia is listed with Chas Everitt for R21.95m. It has views of Constantia Valley and Table Mountain and an open-plan lounge area leading to a patio overlooking the garden and pool.
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Scanning the skyline
Central Gauteng’s commercial growth sectors and nodes are an indication of how SA’s commercial industry is adapting in 2019 WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED
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auteng, the business hub of Africa, continues to flex its muscles in response to tough economic challenges. Developers and leasing companies operating in prime commercial sectors such as office space, retail malls and mixed use, hotels and industrial categories are having to adapt their business models. In challenging operational conditions, flexibility, customised specifications and narrower margins are the order of the day. Here is an update on key sectors.
OFFICES AND HOTELS
Improvon’s Gosforth Park, Germiston, for a division of Shoprite
A perspective of Katherine Towers in Sandton
Office vacancy rates are problematic in SA as a category, but in Johannesburg, Sandton Central still attracts significant investment from corporate developments. Sapoa’s Office Vacancy Survey Q1: 2019 shows that Sandton is home to the most new developments in the country — 26.4% of new office space in total and nearly double the development elsewhere. A low percentage of this is speculative and only 2.5% of space under development in Sandton Central is unlet. Sapoa says P-grade office space in Sandton grew from 1,000m2 in 2010 to 95,000m2 in 2019. It is a strong sign of investor confidence, distinguished by the fact that the area has more P-grade offices than anywhere else in the country, and is dominated by large single-tenanted corporate head offices. Sandton Central Management District’s city improvement district manager Elaine Jack says several new developments have come on stream in 2019. Among them is Katherine Towers, with an
investment of about R800m. It is owned by Vanguard Trust, Bidvest Bank and Bidvest Properties, and developed by Alchemy Properties. The 20-storey building in Park Lane spans 22,000m2 of lettable space with 11 floors of P-grade offices that are fully let. The R850m Hotel Sky is being developed on the corner of Maude and West streets for completion in mid-2020. In March, Redefine completed a R133m refurbishment of a six-floor 26,500m2 building on West Street. Formerly occupied by Discovery, most of it has now been taking up by WeWork.
NEW GROUND In Centurion, Abland is breaking new ground as it adds additional buildings to Westend Office Park. This property developer’s marketing and leasing director Grant Silverman is hesitant about making general statements about the state of office vacancies in a challenging economy. “Businesses are watching their expansion and trying to consolidate where possible. Hubs around public transport nodes are popular,” he says. “The buzz word is shared office space, which is supposed to be more flexible and let people interact more.” Westend will consist of six A-grade office buildings with 37,000m² in lettable space within a greater precinct. Buildings A and B are complete and have some office space available. Occupation of Building C is under way. “Westend Office Park offers everything a corporate tenant needs, from excellent security to easy accessibility,” says Abland development manager Hendrik van Zyl. “Its optimal location allows for easy access from highways and
HOMEFRONT “Businesses are watching their expansion and trying to consolidate where possible. Hubs around public transport nodes are popular” Grant Silverman, marketing and leasing director, Abland
FAST FACTS Johannesburg is the wealthiest city in Africa, followed by Cape Town. Cairo comes in at third place. Most of Johannesburg’s wealth is concentrated in Sandton, where the JSE and the headquarters of most of the largest banks and corporates on the continent are located. Total wealth held in Africa has risen by 14% over the past 10 years (2008 to 2018).
major public transport routes, and it is within walking distance from the Centurion Gautrain station and Centurion Mall.” Once Westend reaches critical mass, Abland will explore funding options for the Centurion Junction project. “Abland’s approach has always been about great offices in good locations and offering a premium product that is cost-effective. Taylormaking efficient office space that suits tenants’ needs reduces their cost of occupation,” says Silverman. “Most of our developments form part of a great precinct; we incorporate the surrounding areas and don’t just focus on the building or buildings in isolation.”
LOGISTICS AND WAREHOUSING In 2018, logistics and warehousing space was talked up as a promising growth sector, while retail and office segments struggled. It is still the case in 2019, according to Improvon’s leasing and
marketing in developments head Mark Truscott. Improvon is an unlisted large developer and owner of logistics, light industrial and warehouse space in Gauteng, Cape Town, Nairobi and Lusaka. “We offer a world-class logistics product, and there is still demand despite the economic downturn in SA,” says Truscott. “Our tenants see the value in leasing our warehouse facilities because the occupancy cost is reduced as they are leasing a modern, energyefficient building.” He says logistics companies are under pressure as margins tighten. Rentals are also being pushed down by commercial occupiers as there is a lot of competition in the market. “The warehouses we build assist with operational efficiencies. Larger racking capacity through higher roofs means logistics companies can store more product, which they charge for, often on a volumetric basis.”
Source: The AfrAsia Bank 2019 Africa Wealth Report
It still makes sense for industrial tenants to lease newer facilities. “We are definitely seeing increased demands in terms of special tenant-specific requests. These range from green initiatives such as PV panels for solar power, grey- and rainwater harvesting, LED lights and energy efficient aircons to very tenantspecific items. We installed such initiatives in a new Defy building in Midrand that measures 15,500m².”
HI-TECH Growthpoint Properties’ R240m Sterling Industrial Park in its Centralpoint innovation district is introducing the next phase of the hi-tech precinct. Centralpoint is located in Samrand, off the N1 between Johannesburg and Tshwane, in the greater Midrand area. Sterling Industrial Park spans 27,000m2 of gross lettable area. It will comprise eight freestanding units of various sizes. “Security, power and efficiency are the major considerations for businesses in this market. Sterling Industrial Park provides it all and at an extremely high level,” says Leon Labuschagne, head of Growthpoint’s industrial development team.
MALLS AND MIXED USE Accelerate Property Fund and development partners’ multibillion-rand investment in Fourways Mall came to fruition as the renovation and expansion project was completed. Reopened in August, the mall offers a “world-class shoppertainment and international standard retail experience”. “The launch represents the first step in the fund’s 15-year plan for the Fourways node, including enhanced office, hospitality and retail offerings,” says Accelerate Property Fund CEO Andrew Costa. “The impact of new traffic routes,
A rendering of Growthpoint’s Sterling Industrial Park in Samrand
Fourways Mall
Westend Office Park in Centurion
densification and growth, as well as developing and maximising properties that enhance the value of the area, is key to future growth in the node.” Costa says a 2017 comparative analysis by Urban Studies of the Fourways, Sandton and Waterfall nodes concluded that Fourways is experiencing strong development growth, dominated by the extension of Fourways Mall. The shopping and entertainment complex has a gross lettable area of 178,000m2 and comprises more than 450 stores. This will grow to 200,000m2 with the launch of French home improvement megaretailer Leroy Merlin.
HIGH DEMAND Abland and Tiber, joint developers of the Sandton Gate precinct, are also on track to complete Phase 1 of this mixed-use development in Sandton. Sandton Gate’s first phase will include 15,500m² of commercial space, P-grade office space covering 13,000m² and a 2,500m² Planet Fitness gym positioned on the piazza level of the building. Confirmed tenants are expected to take occupation in November. “Due to high demand following the launch of Phase 1, we aim to break ground for Phase 2 in 2020. We have redesigned the second phase to include more retail offerings, with a grocery store and pharmacy as anchor tenants, as well as a hotel and a holistic medical facility,” says Abland’s Silverman. He predicts that Sandton Gate is destined to become a world-class mixed-use precinct. “It overlooks one of Johannesburg’s longest natural green belts, while being on the doorstep of SA’s financial CBD. The concept is less traffic, better business and all-round smarter living.”