Business Day Home Front 26 September 2014

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FRIDAY, SEPTEMBER 26 2014

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WHY BUYING TRUMPS RENTING

DEVELOPERS ACROSS THE DIVIDE

BOLAND’S BIG 5 MARKETS

WANT AN INTERNATIONAL WINE FARM?

Who is skimming South Africa’s residential cream?

WORDS: DAVID A STEYNBERG :: PHOTOGRAPHS: SUPPLIED

Contrary to popular belief, foreigners do not dominate the high-end residential market in SA, despite the favourable euro and dollar exchange rates

S

A is home to the continent’s millionaire’s club. According to global research company WealthInsight, in 2013 SA had over 46,000 millionaires with a combined wealth of $127bn, up from more than 44,000 in 2011. And 543 of these individuals were multimillionaires, boasting individual wealth of more than $30 million.

Yet they do not dominate local the property market.

CONTINUED ON PAGE 6

Illovo, Sandton

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Plettenberg Bay

Offers on R5.2 million

Upmarket bright spacious 4 en-suite bedroom home close to the beach, with modern open plan kitchen, TV room upstairs, attention to detail, spacious self contained flat, 3 garages & pool area with gazebo & braai. Contact: Carrie Maclean 082 566 1881 Web ref 955982

Silvertree Estate, Cape Town

Asking R10.75 million

One of the finest family homes to come onto the market in this ever popular and totally secure estate. Spacious interiors with all that you would expect from a home at this level. Contact: Dave Burger 083 458 3333, Brenda Pretorius 083 442 1318 Web ref: 988564

www.sothebysrealty.co.za

Dainfern Golf Estate, Sandton

R9.5 million

A perfect blend of light and glass with timeless quality finishes and incorporating expansive living and entertainment areas.

4 Bedrooms en-suite, study, Entertainers patio with pool. Contact: Dermot 083 680 5286, Dawn 082 575 9956 Web Ref 977166

SUSTAINABILITY Friday September 26 2014

THE NO 1 SILO BUILDING, V&A WATERFRONT

SUSTAINABILITY

Africa’s green building innovations SA is one of seven African countries that use the Green Star rating system, and is the first worldwide to launch EDGE, a rating system for green homes.

The No 1 Silo building at the V&A Waterfront was recently announced as the greenest as-built building in SA, achieving a six-star rating — a first for the country.

Developed in Kenya by technology firm Ushahidi, BRCK is a mobile router that can connect via Wi-Fi, Ethernet or cellular networks.

Featuring an eight-hour battery life, it was created to address sporadic connectivity and energy issues in the developing world.

The Warka Water Towers in Ethiopia’s mountainous regions are made of bamboo and have an intricate condensation system to make water readily available for those who live nearby.

Conceptualised by architectural firm NLÉ, Makoko Floating School, in Lagos, addresses the needs of the growing Makoko community, which lives on the lagoon in the heart of that city.

It is an ecologically sustainable alternativebuilding system that accommodates the needs of a school in this unusual context.

Africa’s green stars At the Green Building Convention in Cape Town, the main message — delivered by a multitude of green-building experts, prolific innovators and other talking heads from around the world — was a double-edged sword WORDS: GENEVIEVE PUTTER :: PHOTOGRAPHS: SUPPLIED; MARC HOBERMAN (NO 1 SILO); JEFF MAINA (BRCK)

T

he responsibility of Africa, its professionals and its citizens to pre-empt the issues of mass urbanisation, the youth bulge and an unstoppable growing population reverberated through the Cape Town International Convention Centre at the seventh annual Green Building Convention, hosted by the GBCSA (gbcsa.org.za) from September 10-12.

However, balancing this doomsday talk were the success stories and ingenious ideas, from Africa

by Africans, put forward to address these problems.

Africa rising The opening speaker at this year’s conference was the prolific trend forecaster Dion Chang of Flux Trends, whose all-encompassing approach to the subject of green innovation in Africa highlighted and connected

“When you do what you love, the world will love what you do” Siya Xuza, engineer and entrepreneur issues of a more sociological leaning, such as African identity, generational theory and technology. The subject that informed much of his discussion was the two-sided coin of Africa’s youth bulge and the African Millennial generation, the former being the anticipated problem, and the latter the key to unlocking the solutions.

The average age in subSaharan Africa is 15 years, and it is predicted that by 2050 two out of five children worldwide will be African.

Add to this the issue of mass urbanisation which, by 2050, is predicted to be 60% of Africa’s population, and one can begin to understand the

dire need to start planning.

Millennials are loosely defined as those born between the mid-1980s and the early2000s, whose lives have been strongly influenced by technology and who have a keen sense of what it means to be part of a global community.

For the purposes of his discussion, Chang referred to millennials as African youths who have had a good education and, in some instances, have studied abroad, but who have identified home as the place they choose to live and apply their skills, with an overarching aim to make a difference.

One such millennial is 25-year-old Siyabulela Xuza, whose talk at the GBC captivated all who attended.

He told the audience how his dream of travelling to Jupiter as a young child from rural Mthatha led him to develop his own rocket and rocket fuel — and to his blowing up his mother’s

Science & Engineering Fair, where he won first place for his invention.

This achievement not only earned him a Harvard scholarship, but also prompted Nasa to name a planet after him: 23182 Siyaxuza.

Xuza recently graduated from Harvard and returned to SA, where he has established a laboratory and is developing a prototype for batteries that don’t rely on electricity to fill their energy stores.

SIYA XUZA kitchen in these pursuits over the course of 10 years.

While still in high school, he was globally recognised at the Intel International

“I realised that, with energy, you cannot use solutions from yesterday to solve the problems of tomorrow” Siya Xuza, engineer and entrepreneur

“We have the audacious goal of wanting to change the way the world is built – to inspire, design, build and operate better, greener buildings that tread lightly on our stressed planet” Brian Wilkinson, CEO, GBCSA

SUSTAINABILITY Friday September 26 2014

MAKOKO FLOATING SCHOOL

THE NGEWANAS

Living on the EDGE Through its repertoire of activities, particularly in the commercial building sector, the GBCSA is raising awareness about ecological sustainability in the built environment. The effects of its efforts can be seen in the necessity for new commercial builds to incorporate eco-architecture and achieve a Green Star SA stamp of approval.

This year’s GBC saw the introduction of SA’s first green-building rating system for the residential sector.

Called EDGE (Excellence in Design for Greater Efficiency), it was developed by the International Finance Corporation (IFC) and launched locally by the GBCSA in conjunction with the National Home Builders Registration Council.

EDGE (ifc.org/edge) is appropriate for anybody — a developer, contractor or homeowner — who is interested in building a

more sustainable home. It is aimed at addressing the problem of rapid urbanisation in developing countries.

The EDGE software interface includes three primary categories: energy, water and materials. The user ticks off items on a checklist, and the software calculates the result. A minimum of 20% savings across the three categories must be achieved in order for the EDGE standard to be met.

SA is the first country where EDGE will be implemented, with the roll-out of the rating tool planned for 2015.

The stakeholders, meanwhile, are conducting pilot projects and working with local banks to figure out a green mortgage system to encourage home builders to incorporate green features in their homes.

It is hoped that being EDGE-certified will raise the value of a residential property.

“The goal of IFC’s EDGE programme is to help build capacity for developers, banks, and governments to mainstream resource-efficient buildings in rapidly growing economies around the world” Marcene Broadwater, global head of Climate Strategy and Business Development, IFC

BRCK MOBILE ROUTERS

Bringing it home One of the pilot projects that led to the launch of EDGE was an initiative called My Green Home.

At the beginning of the year the GBCSA put out a call to South African families who were interested in greening their home from top to bottom in an attempt to show just how much families can save on the costs of running their households.

The Ngewana family, from Pinelands in Cape Town, was chosen, and so began SA’s first green reality web series. Over the course of six months, the Ngewanas were coached by professionals in how to change their habits.

As part of the initiative, their 1940s-era home was refurbished and kitted out with the latest in innovative green appliances and technological applications

— all under the watchful lenses of cameramen, who documented every step of their journey to eco-warriorhood.

The family of five — dad Zwelethu, mother Bulelwa, daughter Thulisa, son Lutholuthle and niece Unam — shared their experiences online, and gave a presentation at the GBC. After only six months of filming, they said, they had achieved a 48% saving on their electricity bill and 44% on their water costs. They said that, while they were fortunate to be chosen to be SA’s “green Kardashians”, the most important lesson they learnt was to make behavioural changes, and these didn’t cost a thing.

To watch the Ngewanas’ adventures online, visit mygreenhome.org.za.

Troubling statistics Of the earth’s total population of 7-billion, 5.1-billion people live in the developing world By 2050 the world’s population will hit about

9-billion, and by 2060 one in every four people on the planet will live in Africa of urbanised Africans, 63% live in slums, and 72% of those in the labour force do not have stable employment

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FRESNAYE

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LOCAL NEWS Friday 26 September2014

CONTINUED FROM PAGE 1

Who is skimming South Africa’s residential cream?

The number of high-networth individuals (dollar millionaires) is set to rise to more than 56,000 by 2018 and, according to two popular estate agencies, it is they, and not the dollaror euro-flush foreigners, who dominate the upper echelons of the residential real estate market.

“Foreign buyers purchase property across all price ranges from approximately R2.5m to north of R100m,” says Pam Golding Property’s chief executive, Andrew Golding. “There is often a misconception that they are pushing up prices. On the contrary: they are wellinformed regarding the South African residential property marketplace and will only pay marketrelated prices.”

This is echoed by Seeff chairman Samuel Seeff, who says that in his agency’s experience, well over 90% of sales to foreign nationals falls into the sub-R5m price band. “In the last year, for example, out of the 40 properties priced above R20m that sold across Cape Town’s Atlantic Seaboard and City Bowl areas (traditionally the primary areas for foreign buyers), only seven were bought by foreigners — six

by UK buyers and a single sale to a Nigerian.”

Foreigners purchase property for a variety of reasons, including

relocation, leisure, to use for specific seasons during the year (“swallows”), or perhaps because they are establishing a business in the country and require a residence.

WealthInsight points out that between 2009 and 2013, SA’s foreign direct investment increased by 163%.

Bringing it back home, Gauteng and Western Cape residents dominate the high-end market and comprise those whose property portfolios make up a relatively significant portion of their net worth, as well as those whose properties are a relatively insignificant portion of their net worth, according to Golding.

Both Golding and Seeff agree that, more often than not, buyers purchase a property with the intention of living in it.

“Buyers of luxury homes, particularly iconic properties, acquire them for their unique features, location and the lifestyle they offer,” says Dr Golding. “We found that these properties were purchased to reside in either permanently or for parts of the year, and not as buy-to- let properties.”

One exception is a R110m One&Only Cape Town penthouse bought in 2009 by a Gauteng resident, who lets it out at a rate of between R120,000 and R140,000 a night.

Regionally, Cape Town

trumps Johannesburg as the destination of choice for buyers looking to spend upwards of R20m for a property, says Seeff.

“The Cape metro property market exceeded that of the Johannesburg metro last year, both in terms of residential sales volumes and value, according to Lightstone data,” he says.

“With almost R16.7bn (12,043 transactions) in residential sales, it generated about 36% more value, compared with the Joburg metro’s just under R12.3bn (11.645 transactions).”

“There is often a misconception that foreigners are pushing up prices. On the contrary: they are well-informed regarding the South African residential property marketplace and will only pay market-related prices” Andrew Golding, chief executive, Pam Golding Property Group

SEEFF’S FIVE OF THE BEST

PGP’S FIVE OF THE BEST

R110m — Fresnaye, Atlantic Seaboard: home sold to a buyer from the UAE

R110m — V&A Waterfront: One&Only Penthouse 3: sold in 2009 for a record price, to a South African buyer

R60m — Bantry Bay, Atlantic Seaboard: home sold R70m – Clifton, Atlantic Seaboard: 2,500m2 plot sold for a record price, to a South African buyer

to a buyer from Switzerland

R95m — Western Seaboard: vacant land sold to a South African

R100m — Bishopscourt, Cape Town: highest-value

R55.86m – Clifton, Atlantic Seaboard: villa sold to an expat who intends returning to SA R42,5m — Bantry Bay, Atlantic Seaboard: 600m2

sale of a residence this year, sold to a South African

apartment with private pool in The Bantry, to a South African buyer

R43m – V&A Waterfront, Cape Town: penthouse apartment, sold to a Nigerian

R38m — Sandhurst, Joburg: home in Stewart Place sold in 2013 for R38m, to an African buyer

Living Large

T

here is a notice on the board in the stairwell at my townhouse complex that, occasionally, gets put under our doors too.

It was, initially, an earnest and heartfelt note with different parts printed in various colours, for ease of understanding and emphasis of its important contents. Over time the colours have become brighter, the lettering has gone from minuscule to majuscule and, alarmingly, multiple exclamation marks have been added.

There is only one matter that could cause a resident to produce such an urgent notice: recycling.

In caps, its first line reads: “Please ensure that the correct items are placed into the correct recycling bags, otherwise the Council will not collect the recycling!!!”

Understood! But wait, there’s more: “Orange/white bags are for paper and cardboard. Clear bags are for tins, bottles and plastics.”

The writer’s colours of choice for the lettering are red (when capitalised, red becomes fascist, no matter what the font) and blue, with a bit of basic black thrown into the mix, to show that the writer is not completely without empathy.

Now, I like the planet as much as the next mammal,

WORDS: KATY CHANCE

but here’s the thing: there are no white bags in the area where the bins are kept. There are some transparent bags with a single stripe of what might be construed as orange (though, strictly, it’s coral); are these what I should be putting my paper and cardboard waste into? There are no orange bags at all.

The largely transparent bags with the stripe — which may, in fact, be ersatz orange bags — also have green writing on them.

Green! There is no reference to this colour in the notice — an irony I enjoy immensely.

So, do I put my tins, bottles and plastics into the

clear bags and pretend not to notice their orange element?

There are no completely “clear” bags, but the transparent ones with the stripe are made up of more “clear” than colour, so that

“As the writer’s 14-point, multicoloured fury wasn’t working, the writer has decided to use an even more disturbing scare tactic”

would mean tin/plastic/glass rather than paper/cardboard, right? Help!

Another thing: what the hell do I do with Tetrapak?

Milk cartons (there are no bottles any longer) are made from it, and it’s defined as “a type of plasticised cardboard”, which means— what, exactly?

Into which bag should I put Tetrapak: plastic or paper? Help! Wine bottles with a screw top are fine: tin meets glass, so same (but possibly incorrect) bag: sorted. But what do I do with wine bottles that come with a cork? Help!

Just when I thought things couldn’t get any

more confusing, I see that, today, the writer has ratcheted things up even further.

As the writer’s 14-point, multicoloured fury wasn’t working, the writer has decided to use an even more disturbing scare tactic: the paper itself is now blue — like an angry child holding its breath! What is a rookie recycler like myself to do? Help!

Then it came to me, as in a vision: I took down the irate blue notice and put it in one of the clear/white-cum-orange stripe/bit o’green bags, which, I am fairly confident, is where it belongs.

OPINION Friday 26 September2014

Unchanged interest rate vital for homeowners

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Why buying beats renting There is a case to be made for buying over renting, not least of which is security of tenure in retirement WORDS: MEG WILSON :: PHOTOGRAPH: ISTOCKPHOTO

“Young people especially need to be clear that there is much more to home ownership than the prospect of making a profit when you sell. The most obvious benefit is that your home gives you somewhere to live, which can’t be said for a portfolio of shares” Lew Geffen, chairman, Lew Geffen Sotheby’s International Realty

R

ising interest rates always cause a slowdown in residential property sales, mostly owing to the withdrawal from the market of first-time buyers, who are the most creditdependent and least able to afford increases in their monthly bond repayments.

“There has, of course, also been some debate in recent years about the benefits of home ownership, since residential property in most cases has not proved to be a particularly good ‘investment’ when compared with shares, perhaps, or other assets,” says Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty.

“However, young people especially need to be clear that there is much more to home ownership than the prospect of making a profit when you sell. The most obvious benefit is that your home gives you somewhere to live, which can’t be said for a portfolio of shares.”

In addition, he says, owning a home, rather than renting, gives you a greater sense of security, as you do not have to worry about a landlord deciding to sell, or about having to move if the rent rises too much.

“It is also a welldocumented fact that owning a home gives people a much greater sense of permanence and being part of a community than renting.

Children of families who own their homes have also been shown to do better at school and in later life than those from families who always rented.

“What is more, if you own the property, you can customise it to your own needs and those of your

family. If you need an extra bedroom or bathroom, you can plan to add one on. If you want to cut your electricity costs by installing a solar geyser, you can. If you want to beef up your security system, it’s your choice.”

Harcourts Real Estate CEO Richard Gray says: “Owning a home is preferable to renting 99% of the time, and if you are going to buy, it is always better to do so sooner rather than later,” he says. “At the moment, for example, interest rates are actually still extremely low from a historical perspective, so it is easier to qualify for a home loan now than it is likely to be in a year or two, when rates may be higher and home prices will definitely have gone up.

“What is more, if you buy when you are young, your home will mostly likely be paid off completely by the time you are ready to retire, so you will have complete security of tenure when you

need it most. You will not have to worry about the cost of your accommodation rising, in terms of rent increases, when you are quite possibly living on a fixed income.”

Paying off a home loan is also a vehicle for forced savings, they note, whereby you are effectively earning whatever the current home loan interest rate is, tax free, while steadily building up equity in your property. This equity can come in handy after a few years, if you need to raise money for your children’s university fees, for example, or perhaps to buy an investment property.

It has been shown that the value of property does appreciate by an average of about 8% to 9% a year, and that the homeowner receives the benefit of this appreciation on geared money. Therefore, they say, home ownership can amount to a substantial return on the investment after 15 to 20 years.

“Owning a home is preferable to renting 99% of the time, and if you are going to buy, it is always better to do so sooner rather than later” Richard Gray, CEO, Harcourts Real Estate

Home ownership — more than a financial benefit A study by Ohio State University showed that for children living in owned homes rather than rental units, maths achievement scores were up to 9% higher, reading achievement up to 7% higher and behavioural problems 1% to 3% lower.

The study noted that home ownership benefits children because the home environments — including safety, maintenance and the availability of educational materials — are, on average, better than those in rental units. In addition, the greater stability of homeowners is good for children’s development.

his month’s decision by the Reserve Bank’s Monetary Policy Committee to keep the repo rate unchanged at 5.75% (9.25% mortgage loan rate) has been welcomed by the real estate sector, which is experiencing an upward trend in sales activity.

“For the first time since the 2007-08 downturn, sales activity is showing real upward movement, not only in the primary urban sectors, but also in the secondary coastal markets,” says Seeff chairman Samuel Seeff. “The market is now nicely balanced, with strong demand and tight supply. The pendulum has now shifted in favour of sellers. Where it took about 20 weeks to sell the average home post-2009, it now takes about two weeks.”

The Pam Golding Property Group says that the decision to keep rates stable is a lifeline for mortgagedependent homeowners and those who need access to finance, especially

against a backdrop of sluggish economic growth, subdued income growth, rising municipal rates and utilities tariffs, and slightly higher CPI inflation, which increased to 6.4% in August from 6.3% in July.

“House price trends continue to be driven by property market conditions and related factors, which are impacted by a combination of macroeconomic factors, the state of household finances and the level of consumer confidence,” said Andrew Golding, CE of Pam Golding Property Group.

“Certainly, historically low borrowing costs, despite the 75 basis point hike in the repo rate in 2014 to date, are buoying confidence in the housing market, with banks demonstrating a somewhat greater appetite for lending.”

Economists predict at least a 100-basis-point hike, likely to be introduced in small increments of around 25 basis points over the next few quarters.

Walvis Bay sees increased interest

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amibia’s Walvis Bay’s property market is seeing increased demand from tourists and locals alike. This is according to Claudia Lofty Eaton, broker/owner of RE/MAX Coastline Property Centre.

“In line with the growth in investment in the area, we have also seen demand for property increase. The expansion of Walvis Bay has attracted many investors from all around the country and even from abroad,” she said.

About 40% of buyers in Walvis Bay are family home buyers, while investors make up 25%. Young professionals

account for about 20% of buyers, with the remaining 15% consisting of retirees.

“The trends we have picked up are that the vast majority of family buyers choose standalone houses, while investors are opting for sectional title residential properties and industrial properties.

“Among the youngprofessional demographic, there is mixed demand between stand-alone properties and sectional title units. Nearly all of the retired buyers are predominately interested in purchasing sectional title units,” said Lofty Eaton.

R400m Zimbali Suites gets green light

B

uilding plans have been approved for IFA Hotels & Resorts’ R400m sectional title development, Zimbali Suites.

“Zimbali Suites is an exciting addition to IFA’s impressive Zimbali portfolio, which includes the Fairmont Zimbali Hotel, Fairmont Zimbali Lodge, Zimbali Vacation Club, Fairmont Heritage Place, Fairmont Signature Villas, Fairmont Hotel Condominiums and our recently launched Ocean Club Zimbali project,” said Phillip de Sylva, senior VP operations (African & Indian Ocean).

Apartments in the 131-unit development on KwaZulu-

Natal’s Dolphin Coast range in size from one-bedroom (36.2m2) to three-bedroom penthouses (142m2). All units include secure undercover parking, contemporary design aesthetics, quality fittings and fully fitted kitchens.

“The economic success of the region, and indeed of South Africa as a developmental state, is enhanced by developments such as the Zimbali Suites project,” said De Sylva. “As a leading foreign direct investor with investments in excess of R1bn over the last decade, IFA is especially proud of this additional contribution to our significant investment into the country.”

DEVELOPMENT

Friday September 26 2014

DEVELOPMENT

Culture drives Cape Town city planning Construction of the Zeitz Museum of Contemporary Art Africa is well under way. Katy Chance reports.

PHOTOGRAPHS: KATY CHANCE; ZEITZ MOCAA

“T

he mark of achievement of great civilisations is the collective things we do,” says Zeitz Museum of Contemporary Art Africa (MOCAA) director and curator Mark Coetzee, “universities, parks, hospitals, libraries and museums. This museum will be the largest one for contemporary art on the continent, and is a symbol for Africa’s ambition in what we can achieve. The motivation here is to export

a positive, creative story that says we are capable and that we have great talent.”

In mid-September the greatest talent the site exhibits was that of its many construction workers. With the 42 grain silos, built in the 1920s and standing 57m high, the building is a Cape Town icon, but one that speaks to a past that is no longer relevant. That changed when philanthropist Jochen Zeitz (former head of Puma) and Coetzee, who

were looking for a site for an art museum, met with the V&A Waterfront’s managers, who were wondering what to do with the Heritage structure on their doorstep.

“We had a conversation,” says Coetzee, “and about 10 minutes later we signed a deal to do this together.”

The V&A Waterfront has allocated more than R500m towards its development and, for a fee of R1 a year, has committed to the building’s upkeep in perpetuity. It

“I think it’s going to be an extraordinary architectural intervention in Cape Town, and probably the most important building after those of Sir Herbert Baker” Mark Coetzee, director and curator, Zeitz Museum of Contemporary Art Africa

will include 80 galleries, 16 educational areas and four centres of excellence, from curating to performance and the moving image.

The museum will be open from noon until midnight every day to encourage people and professionals to hang out, as the site will also have restaurants and retailing.

“It will be the centre of a much larger project that will connect downtown Cape Town to the Waterfront,” he says. “The museum is about art, but also about being part of a big city-planning exercise where, for once, culture becomes the central focus.”

British architect Thomas Heatherwick is cutting out the shape of a piece of

maize in the middle of the 42 “tubes”, so that when you enter it will feel almost like a Gaudí cathedral. Coetzee says: “You look up 13 floors, and the top of the grain silos will be solid glass, so you can see into the sky. You can catch elevators to the top, where the glass becomes a sculpture garden and you can look down 13 floors.

“I think it’s going to be an extraordinary architectural intervention in Cape Town, and probably the most important building after those of Sir Herbert Baker.”

Coetzee points out the derelict glass and metal windows, which will be faceted to catch the light, “like diamonds, almost”,

so that from anywhere in the city people will be able to see this “building of culture shining out as a lighthouse for Cape Town”.

The museum, which is expected to see more than half a million visitors a year, will employ 150 staff directly and provide about 2,000 indirect jobs.

“The history of art in Africa is written to a large extent by outsiders; this time we get a chance to write our own history, and I think as a political gesture this is a very important one,” he says.

“So it will be an art museum, like many around the world, yes; but the political, social and economic outcomes will be an Africa model.”

“The museum is about art, but also about being part of a big city-planning exercise where, for once, culture becomes the central focus” Mark Coetzee, director and curator, Zeitz Museum of Contemporary Art Africa

* Photograph: Evergreen at Lake Michelle

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INTERNATIONAL Friday September 26 2014

Old school vs new kids on the development block Traditional South African property developers are seeing a rise in competition from a new generation of real estate entrepreneurs.

WORDS: TAMMY SUTHERNS :: PHOTOGRAPHS: PROPERTUITY; GROWTHPOINT

REMED’S VIEW, MABONENG PRECINCT

I

n December 2013, the South African Property Owners Association (Sapoa) reported a corporate membership of 1,170 — significant in a post-recession economy and tribute to a healthy industry.

More telling, however, is the emergence of a new breed of property entrepreneur, showing that the industry is not only growing but thriving.

ELLERINES DISTRIBUTION CENTRE, EAST LONDON

THE TRADITIONAL PLAYERS Growthpoint Properties entered the property development arena only recently. Executive director Estienne de Klerk says: “Growthpoint has only ventured into development

activities over the past few years and has done so with the purpose of providing its clients suitable accommodation at the best possible cost.”

Growthpoint’s decision to play the development game was driven by its desire to improve the quality of its properties. Says De Klerk: “We at Growthpoint have always prided ourselves on our entrepreneurial culture and our ability to adapt to changing market conditions, and we have successfully transformed from a pure property investment company to a property investment and development company Reit

(real estate investment trust.”

THE UNCONVENTIONAL COMPETITION Propertuity, the team behind the Maboneng Precinct, has made waves with its rejuvenation of dilapidated industrial buildings in downtown Johannesburg, creating a vibrant mixed-use inner-city neighbourhood.

Hayleigh Evans, brand and cultural manager for Propertuity, says: “A mixed-use approach allows us to create a holistic neighbourhood that supports the local economy.”

Anyone who has been to Maboneng would most likely agree with her description of the precinct, which

includes artisans’ lofts, the Arts on Main hub, Fox Street Studios, The Main Change office building, the residential Main Street Life and Rocket Factory, the mixed commercial and residential building Urban Fox, and the Bioscope Independent Cinema.

Maboneng Precinct is responsible for drawing crowds to an area that, up until a few years ago, they mostly avoided because it was a site of crime, grunge and general urban decay.

Similar precincts are under development elsewhere in Johannesburg, too. The Braamfontein Improvement District has seen Play Braamfontein, headed by Adam Levy, develop the Neighbourgoods Market, among other innovative projects, while South Point has introduced tenants such as Puma, Virgin Mobile, Motherland Coffee Company, L’Oreal Institute, Designs of Europe and Fourth Wall Books, among others, to the area.

As in Maboneng’s case, Braamfontein needed a fresh creative vision, and forward-thinking developers met this requirement.

Braamfontein Improvement District’s Katie Engelbrecht credits Levy with saving the Alexander Theatre from ruin. Today the property is used as a functions venue and exhibition space, and the pop-up bar Barcade has signed on as a tenant too.

“South Point also helped to upgrade one of their longest-standing tenant’s curry shop to fit in with all of the renovated spaces around them,” she says in reference to R Jana’s Curry Parlour in De Korte Street.

Property developers who are taking a new approach to the business are effective for a number of reasons.

De Klerk says that these

INTERNATIONAL Friday September 26 2014

“Property developers who are taking a new approach to the business are effective for a number of reasons.

De Klerk says that these include the fact that they are focused and often have specific relationships that they successfully leverage.

The clients, he adds, always deal with decision-makers. Also, the developers mostly have acquired land on risk — which has a strategic location for the clients — and in many instances are effective, skilled entrepreneurs themselves”

UNCLE MERV’S EATERY, MABONENG

include the fact that they are focused and often have specific relationships that they successfully leverage.

The clients, he says, always deal with decision-makers.

Also, the developers mostly have acquired land on risk — which has a strategic location for the clients — and in many instances are effective, skilled entrepreneurs themselves.

VALUE OF HISTORY Growthpoint has successfully established its brand as a quality development provider and has maintained a competitive advantage in terms of access to capital

as well as the best possible pricing, says De Klerk.

Larger, more established corporates such as Growthpoint possibly hold an advantage over the younger players in the property development field because of their scale to track and record client requirements.

There is a long-term focus on maintaining the client relationship, something that many of the smaller players don’t have, says De Klerk.

A HEALTHY PROPERTY INDUSTRY The emergence of new entrepreneurs is not a

bad thing. De Klerk says that in the interest of the South African economy and the real estate industry, it is hoped that both the old-school companies and the new kids on the block will flourish.

He says: “This should result in a growing economy and property industry.

Further, the success of new entrants will provide a pipeline of property acquisitions for the larger property companies in the future. Spoilt for choice, and with good competitive tension in the market to meet their requirements, in the end the client is the winner.”

ARTS ON MAIN COMBINES RETAIL, GALLERY, STUDIO AND EVENTS SPACES

THE GRUNDFOS BUILDING, GERMISTON, DEVELOPED BY GROWTHPOINT

ADVERTISING FEATURE Friday September 26 2014

Buh-Rein Estate’s newest release San Michele offers 36 modern townhouses and excellent value in Cape Town’s Northern Suburbs

B

uh-Rein Estate’s exceptional value proposition coupled with the overall popularity of integrated estate living is driving demand for property in this new Tygerberg suburb. With state-of-the-art security, and infrastructure that includes fibre-optic cabling to every home, it can best be described as thoroughly modern.

Despite persistent pressure on the overall housing market, Buh-Rein Estate has proved to be a popular choice with newcomers and those homeowners opting to downsize. Townhouses have been especially popular, and this has led to the early release of San Michele — a selection of 36 spacious, contemporary duplexes.

Says MSP Developments CEO, Riaan Roos: “When you contract with us, you are employing experience, knowledge, client care and superior workmanship.

We designed this estate to be integrated,

San Michele is expected to be completed by the end of April 2015.

For more information, contact MSP Developments on 021 914 6703, or e-mail sales@mspd.co.za.

Visit www.mspd.co.za.

energy-efficient, superconnected and very secure.”

His confidence is underscored by the recognition that the group received from the South African Planning Institute (SAPI) for its excellent work on Buh-Rein Estate.

San Michele features a landscaped central garden and backs onto the estate’s greenbelt on both its southern and western borders. Every unit has a garage, and the internal roads and pathways are

paved to create a country feel. Downstairs is an openplan kitchen, dining room and lounge with sliding doors that lead onto a pergolacovered braai patio.

Upstairs, the two-bedroom units share a full bathroom; the three-bedroom units have an additional en-suite bathroom that includes a large shower and his and hers basins. All bedrooms have built-in cupboards.

San Michele is centrally positioned on the corner of Buh-Rein and Kaapzicht drives and features its own secure access control. Closedcircuit cameras cover all the shared spaces within the estate. It is monitored

by Protea Coin Security, which also manages the patrolling security vehicles.

Says Roos: “At Buh-Rein Estate, residents will enjoy a home that links them into a greater community where security, freedom and functionality form the cornerstones of the lifestyle estate. San Michele’s design

ADVERTISING FEATURE Friday September 26 2014

further supports my initial vision for a lifestyle that allows our residents to spend more time outdoors, having a braai or playing with the kids; where people can walk the streets and generous pathways without having to look over their shoulder and where children, cyclists and joggers do not need to share a road with vehicles.”

With a multipurpose sports field and more than 20 pocket parks equipped with jungle gyms, the estate allows children to roam freely. More than 2,000 indigenous trees will be planted to enhance the overall greening of the estate.

A shopping centre and petrol station as well as daily shuttle services

to Century City, Cape Town and Stellenbosch will be offered too.

With all the benefits of integrated estate living and superior finishes as standard, San Michele offers affordable value and excellent value for money.

Pricing starts from R999,900, all costs are included and no deposit is required.

“At Buh-Rein Estate, residents will enjoy a home that links them into a greater community where security, freedom and functionality form the cornerstones of the lifestyle estate” Riaan Roos, CEO, MSP Developments

INVESTIGATIVE Friday September 26 2014

Boland property owners slow to let go The Cape Winelands offer beautiful real estate opportunities for the savvy property investor, but supply is being outstripped by demand WORDS: DAVID A STEYNBERG :: PHOTOGRAPHS: RAWSON, PAM GOLDING PROPERTIES, SEEFF

T

he Boland region in the Western Cape is not only home to the country’s most popular wine-growing areas and estates, but also boasts exclusive real estate in picturesque settings.

We travel to five of the best-loved towns to check in on the market.

Stellenbosch With one of SA’s top universities on its doorstep and a host of historical landmarks on almost every street corner, Stellenbosch real estate is a good investment — but that’s only if you can get your hands on it.

“The highest demand is for mid-sized homes, priced between R1.2m and R1.6m, and there is not enough stock available to meet buyer demand,” says Seeff Stellenbosch agent Droeks Malan. “There is excellent buy-to-let potential within the Welgevonden Estate, for example, largely owing to its affordability, security and lock-up-and-go lifestyle. For instance, on a home priced at R1.65m, you can achieve a monthly rental of R9,500.”

The residential market in the town has also remained one of the most stable in price terms, even during the 2009–2011 credit crunch, according to Johan Hugo, Rawson’s Stellenbosch and Franschhoek franchisee.

“Prices are now increasing again at 3% to 7% a year, and higher levels of price growth appear likely,” he says. “Taking Stellenbosch and Franschhoek together, we can now offer buyers anything from a sectional

title apartment at R800,000 to a R60m wine estate.

Nevertheless, the big demand from investors is in the R1m to R3m bracket, where stock is always especially short, while people transferring to this area are generally looking for homes priced at R2m to R4.5m.”

Upcountry buyers, however, often have misconceptions about the kinds of homes they can afford, says Louise Varga, area manager for Pam Golding Properties Stellenbosch. “They think they can replace their expansive upcountry family homes for the same quality, size and price in Stellenbosch,” she says. “They are often disillusioned by the price you have to pay for property in Stellenbosch.”

Students dominate the rental market in the R6,000 to R8,000 a month bracket, while upmarket tenants in estates are willing to pay between R20,000 and R30,000 a month.

Paarl Paarl property is priced, on average, from R540,000 for two-bedroom units to R1.2m for mid-sized homes.

The town is home to top private schools and exclusive residential estates, including

“Buyers from Gauteng usually mistakenly believe that they can replace their properties for the same price as they have sold their property upcountry and that there will be a wider choice of available properties” Seeff Paarl agent Lita Hartman

Boschenmeer Golf Estate, Winelands Estate, Val de Vie and Pearl Valley.

“Upcountry buyers look for larger homes, usually in the price range of R1.75m to R2.5m,” says Seeff Paarl agent Lita Hartman. The top end of the market, from R6m upwards, is dominated by Gauteng residents. “These buyers usually mistakenly believe that they can replace their properties for the same price as they have sold their property upcountry and that there will be a wider choice of available properties.”

Rawson’s Paarl franchise owner Lizette Joubert says the liveliest market is in the R1.5m to R2m category.

“Homes in the R1.5m to R2m bracket are producing 15% of our sales, while a further 7% is generated in the R2m to R3m bracket,” she says.

The buy-to-let market yields the best rewards, says Lita Hartman. “An apartment priced at R750,000 can achieve a monthly rental of R6,000,” she says.

INVESTMENT Friday September 26 2014

Franschhoek

Somerset West There has been a sharp rise in the number of secure estates being developed in Somerset West, owing in particular to an increase in commercial property development.

“Although the strongest demand in Somerset West is in the middle price brackets, at the lower end of the market — properties below R800,000 — there has also been a big increase in sales,” says Schalk van der Merwe of the Rawson Property Group’s Somerset West franchise. “Here demand is stimulated by the doubling of the investor client base, which is now responsible for 8.5% of our sales. Investors are motivated by the fact that with initial returns on residential property now often above 8% a year, many properties are self-supporting from day one.”

And, while the average price for a home in this town is R2.4m, there is an upsurge in the R5.5m to R7.5m market, says Van der Merwe.

The is a stock shortage at the upper end of the market; likewise at the lower end.

Says Seeff manager for the area Loretta Diab: “All stock up to R2m as well as homes in estates up to about R4m are in high demand

but not available. When something comes up in that price range, it normally sells within two weeks of listing. The best buy-to-let opportunities at the moment are in gated complexes, especially Schonenberg.

The return there is more than 5% on investment.”

Nelius Kruger, rental administrator in Stellenbosch and Somerset West for Pam Golding Properties, says there is big demand for mediummarket townhouses and flats, such as those at Oxford Mews: “Apartments with rentals from R5,000 to R8,000 a month are in demand when selling for up to R750,000.”

“Apartments with rentals from R5,000 to R8,000 per month are in demand when selling for up to R750,000” Nelius Kruger, rental administrator in Stellenbosch and Somerset West for Pam Golding Properties

Popular with South Africans and foreigners alike, the picturesque town of Franschhoek is seeing a return to popularity among buyers of second homes.

“Prices range on average between R5m and R6m for spacious homes of 300m2 to 400m2 — with at least three bedrooms, two lounges, garages and usually a swimming pool,” says Seeff’s Franschhoek agent Melina Visser. “There is excellent buy-to-let potential within Franschhoek, not only as a result of the demand for residential rentals, but also the demand for short-term accommodation, since the village is extremely popular with weekend and holiday visitors.”

While return on investment is average and capital growth is high, stock remains an issue, says Surina du Toit, area manager for Pam Golding Properties in Paarl, Wellington and Franschhoek.

“Upcountry buyers are normally at first shocked by the prices of properties in Paarl and Franschhoek.

Buyers think Franschhoek is only for the rich and is very expensive, but there are a lot of normal families living in Franschhoek,” she says.

The town is home to both lifestyle and commercial concerns. Seeff Boland Agri agent Andre Malan says lifestyle farms from 1ha to 17ha range in price from R5m to more than R30m.

“Commercially viable and rare wine farms are usually large wine estates with large cellars producing quality wine for the domestic and export markets, often with two labels,” he says. “Prices range from R60m to well over R200m.

These farms are usually marketed on an exclusive/ private basis to protect the farm brand and its business operations and in order not to upset staff or create insecurity in the market.”

Wellington Typical homes in Wellingon date back to the 1960s, ’70s and ’80s, and prices have risen from between 7% and 10% a year , according to Rawson’s Wellington franchisee, Tertius Joubert.

“Most of the home here are freestanding on their

“Students can generally afford R3,000 a month for a single room with self-catering facilities” Elise Laubscher, Rawson Wellington

own plots,” he says. “They sell from R850,000 to R2m. And if you measure value, such homes offer far more per rand than what can be obtained in Paarl, Stellenbosch or Somerset West for the same amounts.”

Rental accommodation, too, is strong, thanks to the 3,000 students at the teacher’s, IT, agricultural and social sciences colleges.

“Students can generally afford R3,000 per month for a single room with selfcatering facilities,” says Elise Laubscher, who runs Rawson’s rental division.

“Rentals of R5,000 to R13,000 are regularly achieved on freestanding homes throughout the town.”

“Prices range on average between R5m and R6m for spacious homes of 300m2 to 400m2 with at least three bedrooms, two lounges, garages and usually a swimming pool” Seeff Franschhoek agent Melina Visser

LOCAL NEWS Friday September 26 2014

S

Paarl: a tale of two eras

urrounded by majestic mountains and famous wine farms, the historic town of Paarl is situated in one of the most scenic areas in SA. Although it is keeping pace with modern housing trends in the luxury estates and other developments nearby, it also treasures its heritage, says Louis Visser, co-owner of the local RealNet

franchise. “There are still vineyards and ancient oak trees along the main street, and buildings dating back more than 300 years are proud monuments to the town’s rich history,” he says.

However, says Etienne Labuschagne, co-owner of the new Harcourts Winelands office, there’s no escaping the fact that the whole Paarl valley,

Paarl is a market defined by its 300-year-old historical homes on one end and upmarket modern estates on the other WORDS: MEG WILSON :: PHOTOGRAPHS: REALNET PAARL

which already houses the Boschenmeer, Pearl Valley and Val de Vie estates, among others, is becoming one of the most sought after and best performing residential areas in the Western Cape.

“There is high demand, particularly in the estates, from top local professionals and business executives, but we have also noted a big increase in the number of

family buyers semigrating from the northern parts of the country and targeting Paarl because of its excellent schools (including Paarl Boys’ and Paarl Girls’ high schools, Paarl Gymnasium and La Rochelle) and proximity to the Stellenbosch University.”

Buyers on the point of retirement are also attracted to the relaxed

local lifestyle and excellent medical facilities, says Visser, “while the so-called swallows from Europe, who like to spend six months a year in the southern hemisphere, are also a force in this market”.

Good value for money and its convenient location have boosted Paarl’s popularity among young people working in Wellington, Franschhoek, Stellenbosch

and the Northern Suburbs of Cape Town, which are easily accessible by rail or road, he says.

“While top properties in this area can fetch as much as R35m, starter homes in the town are available for as little as R350,000 and the highest demand at the moment is for properties in the R650,000 to R900,000 bracket.”

international South African cuisine. Many combine the French heritage that comes with SA’s winemaking tradition with a modern South African spin, or with refined traditional South African recipes.

Of course, fresh, locally sourced ingredients are a big deal in many of the top restaurants, and the setting is ideal for providing them. Some, such as Eight at Spier and Babel at Babylonstoren, emphasise a farm-to-table approach.

The winelands has certainly attracted, or been a sort of breeding ground, for other standout South African achievements. Perhaps most

noteworthy is the architecture.

Hugh Fraser’s book, Modern Wineries of South Africa, showcases some of the region’s most beautiful and daring architecture. Although there are many, Waterkloof and Tokara certainly stand out, with their incredible views and architecture as well as cuisine that is worthy of their settings.

Whatever the reasons for the region’s culinary dominance in SA, the restaurants have become as much part of the winelands as the wine itself, and more and more have become modern, innovative and groundbreaking as well as just plain delicious. If only they could bottle it.

Wine dining The Cape Winelands is SA’s premier culinary destination for good reason, other than simply the wine WORDS: RICHARD HOLMES :: PHOTOGRAPHS: ISTOCK

A

t last year’s Top 10 Eat Out restaurant awards, seven of SA’s top-10 restaurants were from the Cape Winelands. (The single entry from Johannesburg was Five Hundred at the Saxon, which has chef David Higgs at the helm. He made his name at Meerendal and then at Rust-en-Vrede in the Cape Winelands.) It’s not surprising, in some respects, that the country’s best restaurants are concentrated in this region — you can’t throw a stone without hitting a chef. Stellenbosch has more than 70 restaurants, and the Franschhoek Valley has 36 — that’s not even looking at other regions.

Some of the reasons are obvious: wine pairs naturally with food. There’s also the Mediterranean climate, which is not only perfect for growing grapes, but also helps to cultivate fantastic ingredients for cooking. The natural beauty is perfect for sitting around and eating and drinking in a kind of bucolic fantasy setting, which makes it easier to attract the most

talented chefs. Perhaps, also, because wine is one of SA’s pockets of excellence and attracts visitors from around the world, the food is forced to keep up. Maybe it’s just some magic in the region.

It goes without saying that it’s hard to create a shortlist of the best. Among the top 10-rated restaurants in the area are Rust-en-Vrede, The Greenhouse at CellarsHohenhort, Jordan, Overture at Hidden Valley, Camphors at Vergelegen and Pierneef à La Motte. Delaire Graff, Terroir at Kleine Zalze, Harvest at Laborie and many more have won multiple awards.

That’s not to mention the restaurants that are not on wine farms, such as The Tasting Room at Le Quartier Francais guesthouse in Franschoek, and Reuben Riffel’s Reuben’s with its chalkboard menu. (He’s also sprinkled his celebrity stardust at the likes of Reuben at Racine, the bistro-style restaurant at Chamonix.)

Many of the best have contributed to the development of a kind of

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INVESTMENT Friday September 26 2014

Is there a case to be made for investing in French wine estates?

Investors in the ‘old wine’ regions of France are increasingly prioritising business over leisure, as one South African has done WORDS: ANNA-MARIE SMITH :: PHOTOGRAPHS: CATHY GRIER BREWER; ISTOCK

Bordeaux quick facts The Bordeaux region is the largest

producer of wine in France

Bordeaux has

54 appellations across 120,000ha The region produces about 450-million bottles a year, worth more than €2bn (about R28.4bn) Total French GDP in 2013 was

$2.735-trillion

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lobal wealth advisers rate the assets of successful wine estate owners to have the highest earnings values within the agricultural sector.

Growing demand for French wine estates in prime regions, otherwise known as investments of passion, particularly among Asian investors, follows the notion that an appreciation for wine is driven by a nose for business.

In some cases, however, the efforts to stay on top of a globally competitive game are keenly exchanged for a Mediterranean lifestyle in a country chateau.

Prime market assets in the sought-after French Bordeaux region are an example of property purchases that have over the past five years gained greater recognition as a lucrative investment vehicle. An emerging trend

noted in the Savills Market Report 2014 shows that “old wine” regions such as France attract more Chinese business ventures when compared with the “new wine” markets of India, Russia and the US. However, Savills goes on to report that “as yet, there is no evidence of the Chinese buying vineyards or other types of real estate in Europe purely for leisure purposes”.

Investor knowledge in France extends beyond a working understanding of terroir to the French appellation regulatory system (AOC), which defines about 20 wine-producing areas.

By providing geographically defined appellations, this system ensures that grape varietals and winemaking practices are approved for classification in any number of wine-producing areas, across regions, villages and individual estates.

Carol Young of Bordeaux and Beyond Real Estate says: “The prestige and pleasure of owning a property here in the AOC of Bordeaux that drives investments are thanks to world-renowned wine, great food, beautiful countryside and wineries of a region steeped in history.”

The Bordeaux investment market is in great shape following strong demand from principally Asian investors over the past five years.

“The distribution potential and substantial returns on French wine sales in China also deliver a rapid recovery of initial capital investment costs,” says Young, explaining that wineries can be found below the €1m mark, as with smaller estates, whereas sharp increases in sought-after appellations that exceed €10m are also in demand by foreign investors.

“The prestige and pleasure of owning a property here in the AOC of Bordeaux that drives investments are thanks to world-renowned wine, great food, beautiful countryside and wineries of a region steeped in history” Carol Young, Bordeaux and Beyond Real Estate

INVESTMENT Friday September 26 2014

In the market for a wine farm?

Have you ever dreamt of owning your own wine farm in some picturesque part of the world? Lea Jacobs takes a look at a few options currently on the market

PHOTOGRAPH: ISTOCK

The South African connection

“We soon realised that ancient European traditions, such as owning beautiful wine estates while living in local villages, yet farming from down the road, are neither practical nor profitable” Cathy Grier Brewer, director, Villiera Wines

Seen from a South African perspective, during the early 2000s this market brought notable investment opportunities to local wine producers.

A good case in point is the French label of Domaine Grier, which has been produced in the Lanquedoc-Roussillon AOC in the Pyrenees region since 2005 by local wine producers Villiera Wines, says director Cathy Grier Brewer.

One of three family owners of the estates, Brewer says: “The low euro at about €7 to the South African rand in 2005 brought with it an opportunity to purchase a 22ha age-old vineyard, after the family had for years deliberated the possibility of ownership in a rural French region.”

Brewer says the family’s experience of the European wine market at the time was limited: “We soon realised that ancient European traditions, such as owning beautiful wine estates while living in local villages, yet farming from down the road, are neither practical, nor profitable.

“The commitment to the success of the family’s French label that brought profitability in 2006 stems from a good central location and retaining the original owner who, together with a French winemaker, still lives and farms on the property.”

She says SA is the biggest market for Domaine Grier, owing to fortuitous production supply contracts

with Woolworths since 2007, while smaller quantities are sold to France, Germany, Holland and the US. Young says: “Operating in France, however, is as bureaucratic as anywhere, and varying sales agreements depend on the individual requirements of sellers, such as the exclusion of stock that might cause price variations.”

The take-up of prime property in popular regions that is also largely driven by wealthy British and European investors is seeing unexplored investment potential in lesser-known wine regions.

Brewer says central areas close to strong distribution networks and export facilities, such as those found near the regional airport of Carcassonne, are rich with wine-farming and tourism opportunities.

When compared with the organised South African wine tourism market that caters extensively for a global clientele, this sector remains largely untapped in smaller French areas. Brewer says: “Exploring wine in this region happens mostly by chance, where finding a bottle on top of a wine barrel outside the estate can be the sum total of an estate’s marketing efforts.”

For an investment in an old French wine estate to pay dividends, she says, “building up a new brand required a lot of hard work — getting out there, doing the trade shows, visiting the customers — sometimes for years before it bore fruit”.

CYPRUS

T

here is something about wine farms that brings out the romance in all of us: hectare upon hectare of vineyards, gorgeous historical homes and spectacular countryside. Those who are fortunate to own and have the capital to run such an enterprise are undoubtedly the envy of us mere mortals who live in suburbia.

Surprisingly, given that many wine farms are handed down from generation to generation, there appears to be more than quite a few vineyards for sale around the world. We started looking in the most obvious place, France, and true to form, the properties and the areas in which they are situated are spectacular.

For €10,6m (about R100m) you can buy something in Charente in Southwest France that looks as though Queen Marie Antoinette moved out yesterday. In addition to the palatial chateau, the property boasts 450ha of land, including 25ha of cognac-producing vineyards.

It is described by the agent concerned as “a castle”; however, there is a little bit of bad news: the sales pitch states that the second floor does need renovating.

For those looking for something a little less pricey, there is a gem available for a paltry €380,000 in the province of Lanquedoc-Roussillon.

The bio-vineyard is being sold with all the winemaking and farm equipment, and the price includes a large three-bedroom home with a wine cave.

Of course, France isn’t the only European country that produces wine; Italy, Portugal and Greece are all famed for their winemaking capabilities.

A boutique winery, complete with manor house (POA), is on the market in the picturesque region

of Trentino Alto-Adige in Northern Italy. Situated close to Lake Garda and surrounded by “exceptionally” well-cultivated vineyards, the farm has state-of-theart winemaking facilities.

The region’s alpine setting is famous for its pure, clean air and water, and excellent soil. The wide temperature variation between night and day adds an important dimension to winemaking, by aiding flavour development.

For those who are not keen on learning another language, Australia could be the ideal destination.

The country is also suitable for those who want to live in an environment that is similar in many ways to SA.

AUSTRALIA

ITALY

The Flying Pigs vineyard is close to Clare, 136km from Adelaide in southern Australia. The property has just less than 5ha under vine and a tastefully restored character home with a number of original features.

While most of us can only dream about owning a wine farm, those who can afford to invest in this idyllic lifestyle are spoilt for choice. Most, if not all, European countries welcome foreign investors with open arms, and even though the Australians may have fairly strict immigration policies, money talks, and the chances of being able to relocate your family to that side of the world are pretty good, too.

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R5.1 million HERMANUS - VOËLKLIP

Overlooking an expanse of lake and surrounding mountains. Offering complete peace and tranquillity.

Beds: 4 Baths: 4 Garages: 2 Web Access TK1168370 Jordan Greenhalgh 083 298 1481, Ronel Pienaar 082 556 2433

R4.9 million FRANSCHHOEK

Prestigious apartment in L’ermitage. Offers the discerning purchaser stunning views, privacy and quality finishes.

Beds: 3 Baths: 3 Garage: 1 Web Access FWI1157507 Jeanine Allen 082 410 6837, Office 021 876 2100

R3.3 million HERMANUS - VOËLKLIP

Holiday feeling and great views. Close to popular beaches and mountain paths. A new release and a must to see.

Beds: 3 Baths: 3 Garages: 1 Web Acccess HF1187636 Rose Marie Marais 082 877 6160, Office 028 312 1110

R11.9 million TANGLEWOOD, WELLINGTON

Contemporary executive home. Exceptional living spaces, in and out doors which overlook the vineyards and mountains.

Beds: 4 Baths: 5 Garage: 2 Web Access FWI1187051 Shelly Schoeman 083 301 8833, Office 021 876 2100

R12.5 million HERMANUS – KWAAIWATER R11.5 million

Great investment. A wonderful opportunity to invest in a 3 star hotel in Hermanus.

Beds: 21 Baths: 21 Parking: 21 Web Access HF1186006 Paulette van den Bosch 082 349 8265, Office 028 312 1110

Franschhoek +27 21 876 2100, winelandsint@pamgolding.co.za | Paarl +27 21 871 1480, paarl@pamgolding.co.za Hermanus +27 28 312 1110, hermanus@pamgolding.co.za

10312

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ONLINE BOND APPROVAL WITHIN HOURS HAPPEN • Apply anytime, anywhere • Just go to nedbank.co.za/homeloans, call 0860 911 007 or SMS “Bond” to 30755 and one of our consultants will call you back • We’ll assist you through the whole process Terms and conditions apply.

Nedbank Ltd Reg No 1951/000009/06.

Authorised financial services and registered credit provider (NCRCP16).

R12 million

Perfectly situated in the folds of the Bovlei Valley. This 1,5ha property offers a magnificent Winelands sanctuary.

Beds: 6 Baths: 6 Parking: 10 Web Access TK1183534 James Visser 082 578 2161

New release. Unique setting. Large garden with magnificent old milkwood trees. 150m from the cliff paths. Sea views.

Beds : 5 Baths: 4 Garages: 1 Web Access HF1189500 Lee Ryall 082 457 4619, Office 028 312 1110

Western Cape

CONSTANTIA

R6.4 million

CLAREMONT UPPER

R8.4 million

CAMPS BAY

R11.995 million

Character home with timeless appeal. This distinctive home awaits an appreciative buyer who will enjoy its charm and style, set on half an acre of level ground, with vine-covered verandahs and wooden sash windows.

Bedrooms: 4 Bathrooms: 2½ Web Access KW1138852 ON SHOW. Follow PGP boards from Ladies Mile Extension.

Anthony Snyman 083 621 1279

Immaculate, substantial family home with lovely large play in garden. Conveniently situated with 4 bedrooms all en suite. Offers quality finishes throughout. Eat-in kitchen. 4-Car garaging. Pool. Staff accommodation. Excellent security.

Bedrooms: 4 Bathrooms: 5 Garages: 4 Web Access KW1188869 Sole Agent: Sharon Ellis 082 467 9991

Brand-new, modern family Villa. This low-maintenance home, built by an Italian master builder has Botticcino marble floors from Carrara and a floating staircase leading to 3 en suite bedrooms. There is an intriguing large wine cellar, a spacious guest suite, study and garaging for 3 cars.

Bedroom: 4 Bathroom: 3½ Garages: 3 Web Access BAY1180495 Barbara Rogers 082 889 0140

MOUILLE POINT

SIMON’S TOWN

CENTURY CITY

R8.5 million

R5.6 million

R1.35 million

Awesome sea-facing luxury apartment. Full sea-facing with large open patio and private plunge pool. Totally refurbished apartment in highly coveted South Seas building. Pristine condition. Upgraded kitchen with appliances included. Storeroom on the same floor as the apartment.

Bedrooms: 3 Bathrooms: 3 Parkings: 2 Web Access PR1190823 Lynn Pinn 083 631 4890, Paul Levy 083 300 3001

Graceful Victorian cottage. Historic home in wind-protected area.

Spectacular sea and mountain views. High pressed ceilings, sash windows, Oregan pine floors and Victorian fireplace complete the ambience of this graceful home.

Bedrooms: 4 Bathrooms: 3 Garage: 1 Web Access SIM1187826 Rosalie Jack 083 658 4187, Alan Dunlop 083 415 4505

Live the lifestyle or invest in century city. Lovely views of Table Mountain. Enjoy fresh air and feel like you are always on holiday from the spacious balcony that overlooks the lake. The lake has an island and is home to a variety of bird life.

Bedrooms: 2 Bathrooms: 2 Parking: 1 Web Access 1TV1190807 Helga Clemo 082 496 7987

BLOUBERGRANT

BIG BAY

AURORA

R2.25 million

Beachfront apartment with magnificent views. The apartment is on the top floor of a 4-storey apartment block. There are 2 bedrooms, plus an extra study/hobby room. A hop, skip and jump from the beach. A big north-facing balcony.

Bedrooms: 2 Bathrooms: 2 Garages: 2 Web Access 1TV1190770 Patricia Banks 082 416 7810, Lizzy Botha 083 300 0093

R8.5 million

Exclusive property. This fabulous home offers lavish finishes throughout.

Double-storey with amazing views of sea and Table Mountain. Large enclosed patio and pool lends itself to perfect entertainment.

Bedrooms: 5 Bathrooms: 5 Garages: 2 Web Access 1TV1190178 Karen Allchin 083 941 7982, Jacinta van Heerden 082 859 9174

ATLANTIC SEABOARD: Atlantic Prestige +27 21 439 1614, Camps Bay +27 21 438 3444, City Bowl +27 21 423 2150, Sea Point+27 21 439 7415 SOUTHERN SUBURBS: Quadrant +27 21 673 4200, Newlands +27 21 685 7759, Tokai +27 21 701 0191 SOUTHERN PENINSULA: Fish Hoek +27 21 782 6440, Noordhoek +27 21 789 1921 Simon’s Town +27 21 786 1612 WESTERN SEABOARD: Big Bay +27 21 554 0033, Blouberg +27 21 557 1115, Sunningdale +27 21 556 2362, Sunset Beach +27 21 551 8640, WEST COAST: Britannia Bay +27 22 742 1001, Langebaan +27 22 772 2196/9066, Paternoster +27 22 752 2668, Saldanha +27 84 517 3290, St Helena Bay +27 22 742 1001, Veldrif +27 22 783 1511, Yzerfontein +27 22 451 2188 HOUT BAY: +27 21 790 5940

www.pamgolding.co.za

R2.95 million

Exclusive country living. Exceptional historic homestead with guest cottages and horse stables set on 3 725 acres of land and garden, located against the foot of the aurora mountain offering stunning views over the village and farmlands. 82 Olive trees as well as nut and citrus trees.

Bedrooms: 5 Bathrooms: 4 Garages: 8 Web Access LA1174085 Aubrey Fourie 082 458 5757

Plattekloof PLATTEKLOOF R5.850 million What an absolute gem! A beautiful and elegant home with views over Cape Peninsula. The dining room and gourmet kitchen is perfect for entertaining family and friends. Downstairs a family room and indoor braai area opening onto a pool patio and an exquisite garden.

There is an abundance of views from all the rooms.

Automated garages and domestic accommodation.

Bedrooms: 5 Bathrooms: 4 Garages: 2 Web Access 1PLA1174910 Penny Petersen 083 261 7339 Riccardo Mascis 073 051 1100

BARONETCY SECURITY ESTATE – PLATTEKLOOF R8.750 million Tribute to excellence. A beautiful home expressing flamboyant finishes with magnificent views over Cape Town and Table Mountain. Three reception rooms opening onto deck, pool and entertainment area.

Situated on the slopes of the Tygerberg Hills. De Grendel Wine Farm borders this sought after estate in Plattekloof.

Close to all amenities and Panorama Medi Clinic.

Bedrooms: 3 Bathrooms: 3 Parking: 4 Web Access 1PLA1187260 Pierre Nel 076 967 3766 Dinita Hewett 082 898 4519

www.pamgolding.co.za/plattekloof

CAMPS BAY

R30 000 000

CAMPS BAY

R28 000 000

VILLA OF DISTINCTION - WALK TO BEACH

SUBLIME VIEWS, LUXURY, PRIVACY

Bedrooms 5 Bathrooms 5 Garages 4

Beds 5 Baths 5 Garages 3 Parking 3

WEB 330826

CAMPS BAY

R18 500 000

GLEN SEAVIEW LUXURY! WEB 331543

Beds 6 Baths 4 Garages 2 Parking 4

WEB 328321

Offering the highest level of living, this exclusive property set on 3 levels with private glass lift allowing direct access to all levels, is ideally suited for large-scale entertaining. SUPERB VIEWS

Commanding prime position on seaside of sought-after Medburn Road, this magnificent villa offers everything needed to make this dream home a reality. UNRIVALLED SEA & MOUNTAIN VIEWS!

Classic & sophisticated spacious open-plan living. Ideal entertainment terraces. Features incl jacuzzi, pool, Koi pond, pizza oven, study & staff Q. Walk to beach!

[O] 021 438 1055 ROCHELLE 072 239 4449 | LYN 082 575 1999

[O] 021 438 1055 LYN 082 575 1999 | ROCHELLE 072 239 4449

POLA 083 261 0116 | NADINE 072 230 1947 | CHRYS 072 470 5252

V&A WATERFRONT

R15 400 000+VAT

SLEEK AND SENSUOUS! Bedrooms 2 Bathrooms 2 Parking 2

V&A WATERFRONT

R9 500 000+VAT

AN EXPRESSION OF STYLE! WEB 306992

Bedrooms 2 Bathrooms 2 Parking 2

DEVIL'S PEAK

R7 650 000

IMPECCABLE FAMILY HOME - SUPERB VIEWS WEB 331273

Bedrooms 5 Bathrooms 3 Parking 6

WEB 330597

Top class finishes throughout this magnificent apartment. Stunning views of the front yacht basin from both bedrooms and entertainment areas.

Maple kitchen with integrated appliances. Private jacuzzi.

Spacious apartment with amazing views of the One & Only Cabanas and front yacht basin over the quarterdeck from the supersized balcony. Open plan lounge /dining area, modern kitchen.

Set in a quiet cul-de-sac, this is a stylish home.

[O] 021 425 5970 ROSS 082 570 9111 | KIM 083 448 2632

[O] 021 425 5970 ROSS 082 570 9111 | KIM 083 448 2632

[O] 021 423 9146 DORIS 082 898 0519 | MICHAEL 082 888 0970

DEVIL'S PEAK

R7 500 000

SEA POINT UPPER

R4 995 000

3 ANCHOR BAY

R3 295 000

BEAUTIFULLY DESIGNED, MODERN HOME

NORTH-EAST FACING WITH STUNNING VIEWS

SPACIOUS BEACHRONT APARTMENT!

Bedrooms 4 Bathrooms 4 Garages 2

Bedrooms 2 Bathrooms 2 Garages 2

Bedrooms 2 Bathrooms 2 Parking 1

WEB 330238

WEB 332782

WEB 332240

An entertainers dream with a separate 2-room flat & magnificent views.

Absolutely gorgeous 2 bed (mes) apartment with large private terrace and your very own Jacuzzi. Exclusive small complex in quiet cul-de-sac.

Includes 2 basement parking bays with direct access.

Immaculate apartment of generous proportions 131sqm with 2 reception rooms and side sea views. Domestic/storeroom included.

[O] 021 423 9146 DORIS 082 898 0519 | MICHAEL 082 888 0970

[O] 021 434 9175 ADRIAN 082 826 6454 | ROSA 083 275 5474

[O] 021 434 9175 BIANCA 082 371 6900 | HILARY 083 251 2233

Fresnaye – R15.95 million

Modern minimalistic family retreat Web Ref 83711. Beautiful family home offers wonderful flow. Enjoy uninterrupted views across to Robben Island. Large open plan living room, separate family room, pyjama lounge, 3 beds, 3 baths, teenage pad/staff accommodation. Stacey Janit 076 337 4888 | Glenn Goldberg 083 658 3427 | Sandra Scher 083 456 2737

Atholl – R11.9 million

Where position and perfection meet. Web Ref: 81994. Boomed road. 4 reception rooms. Main Bedroom en-suite with 2 dressing rooms and study; 3 family beds and 2 baths. Well appointed kitchen, heated pool, 4 garages, double staff-suite. Joan Mendelsohn 083 267 3124 | Lynne Baker 082 493 1006

Bryanston – R10.95 million

Timeless Elegance 9717m2. Web Ref: 82382. Park like country garden, beautiful trees and plants to mature trees and rolling lawns, birdsong and charm, stately home in the heart of Bryanston West. 6 Receptions, 5 beds, balconies overlooking rolling lawns, sparkling pool, tennis court, good security, borehole, garaging. Potential for “Consulting Rooms” A must view. Mark 082 765 3263 | Gail 084 504 8312

Contact: Liana Joubert: 083 411 4537 / 011 880 3550.

RESIDENTIAL SALES & MARKETING • RENTALS • DEVELOPMENTS • HOME LOANS

WEB REF: 3221969

CONSTANTIA • R4 200 000 MODERN FAMILY HOME Stylish property with ample living space in a secluded setting. Large sunny formal lounge with doors to patio and pool. Separate large family room. Stylish dining room with built-in braai. Spacious solid oak kitchen with granite tops and work island. 4 Bedrooms plus large study with built-in cupboards and spacious main bedroom with en-suite bathroom. Level garden with pool and sunny patio. Double garage with direct access to house. Ample off-street parking.

Excellent security.

SHANAZ SITY-HERSKOVITZ 082 746 7788 shanaz@everitt.co.za 021 712 7002

WEB REF: 3209088

WEB WEBREF: REF:3140053 2559587

BEDFORDVIEW • R 14 800 000 PALATIAL HAVEN FOR THE CONTEMPORARY ENTHUSIAST! This residence presents 4 regal bedrooms (all en-suite), sumptuous bathrooms, finely-honed receptions too numerous to mention and grand entrance hall. This residence is an entertainment spectacle to be admired with an extravagant kitchen to dine and excellent security.

NATALIA 072 392 8421 • natalia.dias@everitt.co.za LUZ 082 444 9763 • luz.vazzana@everitt.co.za • 011 453 5599

BEDFORDVIEW • R 11 900 000 IN A CLASS OF IT’S OWN IN AN EXCELLENT POSITION! Featuring soaring ceilings in finely honed receptions, 7 generous bedrooms with affluent patios abound flowing out onto rim-flow pool and landscaped garden, a remarkable cottage and double SQ makes this home ideal for executive living.

NATALIA DIAS 072 392 8421 • natalia.dias@everitt.co.za LUZ DIAS 082 444 9763 • luz.dias@everitt.co.za • 011 453 5599

3140053 WEB REF: 3224210

WEB REF: 3178584

WEB REF: 3224578

PLETTENBERG BAY • R7 560 000 KEURBOOMS RIVER Strandmeer’s best awaits you with cool summer breezes from your lofty perch surveying the majestic Keurbooms. 3 Minute walk onto the beach, and your boat at your doorstep. 4 Double bedrooms, expansive decks and 3 garages. World class position!

JOHN FULLER 082 905 1516 • johnf@everitt.co.za 044 533 5250

WEB REF: 3222739

SOLE MANDATE SEA POINT • R6 500 000 STUNNING, SEA-FACING ON THE PROMENADE Modern 3 bedroom apartment, newly renovated kitchen, enclosed balcony and large living area, all with spectacular views. Full family bathroom and guest bathroom. Apartment comes with a garage and undercover parking.

ALEX BOLTON 082 497 0194 • Alex.b@everitt.co.za 021 434 8755

PLETTENBERG BAY • R1 900 000 UPPER ROBBERG AREA Reduced for quick sale! Best buy at this price. This immaculate 4 bedroom 4 bathroom home enjoys expansive Bay views. All bedrooms have separate entrances opening to the pretty garden. A great holiday or retirement investment!

IVOR MATHIAS 082 562 5218 • ivor.m@everitt.co.za 044 533 5250

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GREEN POINT • R3 000 000 CORNER UNIT WITH VIEWS This lovely corner apartment has 2 bedrooms and 2 bathrooms.

Nice, spacious lounge, kitchen and dining area, which opens onto a balcony with beautiful views of the city. 2 Parking bays and a store room. Ideal investment property or to make it your home.

PETRICK FOURIE • 083 443 1929 • petrick.fourie@everitt.co.za 021 434 8755

WEB REF: 3216866

RANDPARK RIDGE • R3 499 000 TRUE MASTERPIECE! Offering 5 exceptionally large bedrooms, 3.5 bathrooms (2 en suite), study, kitchen that can quite simply be described as "Second to none" and one that Matt Preston would be proud to feature on Master Chef. 3 Living rooms flowing out onto the enclosed patio which houses the ultimate in South African entertainment.

Offering a built-in bar and large built-in braai. A crystal blue sparkling pool enveloped by the landscaped garden manicured to perfection.

Double garage with tool room, space for third car, triple carport and double staff accommodation.

GRAEME REID 072 822 2520 graeme.reid@everitt.co.za 011 453 5599

WEB REF: 3222379

WEB REF: 3222808

SUNNINGHILL • R3 350 000 EXCLUSIVE CLUSTER IN SECURE ESTATE This sought-after cluster offers 3 upstairs bedrooms and 2 full bathrooms (mes). Covered balcony overlooking garden and pool.

Kitchen, family room, lounge with fireplace and dining room opening to covered patio. Double auto garage and staff accommodation.

GARETH OSTERLOH 072 382 8914 • garetho@everitt.co.za 011 453 5599

LONEHILL EAST • R2 999 000 IMMACULATE CLUSTER Newly renovated cluster with 5 bedrooms and 4 bathrooms (3 en-suite). Enclosed entertainer’s patio with built-in braai. 3 Receptions, open plan kitchen, gym room/guest suite, double auto garage and staff suite. Pool, jacuzzi on a private balcony, koi pond and garden.

ROB NYSCHENS • 084 200 2295 • 011 463 2033 HELEEN NYSCHENS • 082 337 7755 • thenyschens@everitt.co.za

WEB REF: 3164960

WEB REF:3224187

RIVONIA • R5 700 000 SECURE LUXURIOUS LIVING Spacious north-facing home with free-flowing design, open plan living, jacuzzi area, patio and manicured garden. Private study, Niemannfinished kitchen and laundry. Pyjama lounge, 4 spacious bedrooms.

2 Bedroom self-contained flatlet. Central vacuuming system.

ZAINÈ MC LEARY 083 283 2052 • zaine.mcleary@everitt.co.za 011 463 2033

BRYANSTON • R4 495 000 STYLE AND COMFORT This secure and upmarket cluster has 4 double size bedrooms, all with en-suite bathrooms. 2 Balconies, 3 open plan receptions, covered patio, lovely manicured garden with irrigation system and pool.

Kitchen with separate scullery. 3 Auto garages. 24 Hour security.

LUCIANA 082 653 9545 • lucianas@everitt.co.za DON 082 652 4497 • don.struthers@everitt.co.za • 011 463 2033

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WEB WEBREF: REF:3140053 3223303

NORTHCLIFF • R4 050 000 2 MODERN UNITS AND 6 BEDROOM HOUSE 3 Properties on a 1507m² stand. 2 Units: 1 Ground level and 1 on 1st floor. The units share a double garage. 1st level: 3 Bedrooms, lounge, 2 bathrooms, and an incomplete kitchen. Ground floor: 3 Bedrooms, shower room, lounge, dining room and kitchen. Single garage.

ANDRE 082 377 6439 • andrej@everitt.co.za DEBBIE 072 225 3351• debbie.rosz@everitt.co.za • 011 453 5599

WEB REF:2645821

RIVERCLUB/DUXBERRY ENCL • R5 499 000 CLUSTER-STYLE LIFESTYLE Exclusive hideaway in security enclosure. Cinema lounge, cocktail bar, entertainer’s patio, pool. Work from home suite. 4 Bedroom suites. Natural light, volume and easy living completes the design of this beautiful home.

BARBARA PIPOLO • 083 307 3529 • barbara.pipolo@everitt.co.za 011 463 2033

CREATIVE GROUP / DOOK

Introducing the new

P L AT I N U M

Range

By appointment only

I N VES T IN THE C L A SSIC S, LI VE YO U R LIFE IN P L AT IN U M

Exclusive imported finishes

Just launched, the Platinum Range at The Houghton presents the ultimate in luxury apartment living. Confirm your exclusive viewing today and come and discuss your move to the best address in Johannesburg over a glass of the best.

To set up an appointment, contact our sales consultant.

C LA S S I C A PA RT M E N TS ON S HOW DAILY

SHOW APARTMENT

APARTMENT SALES

Unit 7015, The Houghton on the 7th, Lloys Ellis Road, Houghton Office – 011 034 2201 Alan Becker – 082 718 8100 Email – alan@thehoughton.com

Located at 41, 2nd Avenue, Off 2nd Street, Houghton, On the Houghton Golf course Frank Nel – 083 695 1188 Email – frank@thehoughton.com

Safe. Secure.

Surrounded by nature.