Neighbourhood 28 OCTOBER 2018
PROPERTY & LIFESTYLE
Where it all began Although Musgrave is one of the oldest suburbs in Durban, it’s still one of the most sought-after, page 2
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SUBURB FOCUS: MUSGRAVE
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PROPERTY NEWS
28 OCTOBER 2018
Neighbourhood
Suburb focus
Musgrave Durban’s Berea neighbourhood has been the prestige of the city’s well-heeled for generations WORDS: NICOLA JENVEY IMAGES: STEPHEN PILBROUGH & GOOGLE MAPS *Map not to scale
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alling the Indian Ocean its neighbour and boasting breathtaking seascape and cityscape views, Musgrave is set on a ridge overlooking the traditional Durban central business district (CBD). It is separated from Glenwood by the N3 national freeway and rises slightly above Greyville, the first residential area developed in Durban. The Berea train station is located 2,9km away – just off the freeway heading towards the city centre – and connects to the Dalbridge and Durban train station further along the route. Musgrave also overlooks the Durban harbour, recognised as one of the busiest ports in Africa, and is acceptable to both the Virginia airport serving smaller planes, and the King Shaka International Airport on the North Coast.
Property
Musgrave was once home to some of the oldest manor houses in Durban. Before Umhlanga and the KwaZuluNatal North Coast exploded in the
early 2000s, Musgrave was the city’s premier residential address, boasting gracious, sprawling homes in Victorian, Edwardian and art deco architectural styles in which Durban’s wealthiest families lived. While there have been changes as older properties have been demolished and newer glass-and-chrome ones erected in their place, the neighbourhood still captures some of the British colonial architecture in its essence. Rawson Property Group’s commercial division national manager Leon Breytenbach says it has been in the business-driven avant-garde approach that has seen the neighbourhood converting some of its Victorian and Edwardian homes into prime office space. “The affluent residential area, and the surrounding regions, is an integral puzzle piece of Durban’s greater commercial picture,” he says. Musgrave embraces convenient Durban living. The neighbourhood has a sound public transport service; houses among the top schools in the city, and has among its honours one of the province’s oldest shopping centres in Musgrave Centre. Having opened its doors more than 50 years ago, Musgrave Centre is home to more than 120 upmarket retail outlets ranging from international brands to national retailers, independent line stores and boutiques.
Schooling
Musgrave is renowned for its top government and private schools, including Clifton School, Durban Girls’ College, Maris Stella School, Durban High School, Durban Girls’ High School and Durban Preparatory School. Each one of these sought-after facilities have been educating children living in the Musgrave neighbourhood for more than a century, some since the 1860s. Embury Institute for Higher Education, located on the corner of Stephen Dlamini and Silverton roads, is an example of how the neighbourhood has evolved. A fully accredited private higher education institution, specialising in teacher education for pre-school and primary school teachers, the building PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING 1st Floor, Block H, Sable Square cnr Bosmansdam and Ratanga roads Milnerton, Cape Town
in which it is located was previously a synagogue. Decommissioned several years ago in line with the city’s dwindling Jewish population, the architectural design both speaks to its history and to a new future with decorative, innovative cladding. Opposite Embury is another Musgrave icon in the Tree Tops School established in 1932 to accommodate early learning pre-schoolers. “Maybe I am biased, but I believe the code of conduct and ethics my three children received from their education at Durban Girls’ College and Clifton has helped me raise decent children. There were no government schools in this neighbourhood to which I would have felt comfortable sending my daughters to, knowing their education is paramount,” says Lee McGill, a Musgrave resident.
Explore Among the more pleasant ways for spending an evening is the monthly Musgrave Centre Rooftop Night Market held on the first Friday of every month. This is an opportunity to treat yourself to delish food, intriguing crafts and new creations while listening to the sounds of live entertainment. There are also children’s activities to keep the smaller ones occupied while you unwind after a long week. Musgrave is also home to a wide variety of green space with the most notable being the Durban Botanic Garden – the oldest botanic garden in Africa, and housing a tearoom known for its scones and tea – Burman Bush Nature Reserve, Jameson Park and Mitchell Park. These green lungs provide opportunities for walking and bird-watching as well as appreciation for different fauna and flora. “Musgrave provides a wide variety of entertainment facilities and restaurants that promise vibrant experiences. St Clements Restaurant on Musgrave Road has been a favourite for years for its eclectic menu mix and the opportunity to savour the Durban weather in the garden or appreciate old Durban architecture in this restored home,” says Mia Haywood-Thomas, resident.
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28 OCTOBER 2018
Neighbourhood
PAT ACUTT, RESIDENT
EAT: • St Clements Restaurant: casual breakfasts, lunches and dinners under the leopard trees or inside the converted house • Little India: outstanding Indian food from a restaurant that's been serving the Berea area for nearly 15 years • Unity Brasserie and Bar: local flavour and the opportunity to taste home-brewed craft beer
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SHOP:
• Netcare St Augustine’s Hospital • Life Entabeni Hospital • McCord’s Specialist Eye Hospital
• Musgrave Centre • The Atrium Berea • Berea Centre
For rent
Median asking price:
Median asking price:
R1,24m
R8,500
Monthly bond repayments
For a typical property (two-bedroom apartment)
For a typical property (two-bedroom apartment)
For a typical property in this area
R1,795m
R1,25m
R2,75m
In a complex
For an apartment
For a house
You’ll pay
R11,966
R10,000
R8,500
R15,500
In a complex
For an apartment
For a house
per month
Property type:
29%
Property type:
house
R1,24m
63%
median asking price
apartment
21%
apartment
21%
over a period of 20 years at 10% prime
complex
16% house
Based on
50%
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k.
HOSPITALS NEARBY:
For sale
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PROPERTY NEWS
There is still a sense of community in Musgrave with a functional crime watch that make a significant contribution to the quality of life in this neighbourhood. Add to that the outstanding schools, award-winning restaurants and sound tourism infrastructure, and there is no better place to put down roots.
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083 626 6088 • shoppelocalsa.co.za
Pop into Shoppe
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designers and artists from other
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PROPERTY NEWS
28 OCTOBER 2018
A How schools impact property
ccording to the London School of Economics (LSE), a 2006 UK study showed that people were prepared to pay substantially more for properties close to good state schools, says Gareth Bailey, area principal, Pam Golding Properties, Durban Coastal.
Globally, there’s solid evidence to support the upward price trajectory on homes near quality schools. In South Africa, it’s a certainty. WORDS: ANNE SHAUFFER
IMAGE: SHUTTERSTOCK
According to LSE’s Prof. Steve Gibbons, “a primary school, one standard deviation above the average in terms of pupil performance,… attracts a house price premium of around 3%. This means that a school at the top of the league tables attracts a premium of around 12% relative to one at the bottom. At the time of this 2006 study, this was equivalent to £21,000 (about R391,000). “A similar picture emerges for Paris, where in 2004, the best schools attracted a premium of up to €17,500 (about R288,000).” And the USA: “In 2010, the Wall Street Journal reported on the correlation between school performance and home values. When the state of Florida rolled out its new school grading system, home values were directly impacted. Home values in neighbourhoods with A-rated schools increased by as much as $10,000 (about R144,000) over similar homes in neighbourhoods with B-rated schools. Over a few years, that gap has widened and home values could now vary by anywhere from $50,000 (about R549,000) to $300,000 (about R4,3m) a home, based on the current rating of the school in that neighbourhood.
The South African scenario It’s not just about fuel costs.
Neighbourhood
As Harcourts South Africa CEO Richard Gray says, “It’s convenience. Travel time to and from work and schools can take up a significant amount of time. Families living in close proximity to a school, can drastically reduce that, while weekend sports events and other school functions which parents attend, are made simpler.” He adds, “We’ve noticed a definite increase in demand when nationally branded schools that have a good reputation for sport, arts or academics, open a new school in the area. However, more commonly, schools with a rich history and reputation of successful sporting teams, highly rated academics or prestigious arts programmes, continue to attract families to those areas.”
Catchment areas
Just Property’s Pietermaritzburg principal Shaun du Bois, explains, “Parents look for affordable, quality schools – particularly former Model C – and try to move within their chosen school’s catchment area, often a few years before their children are due to start there, so they can ‘document’ their address. School selection policy starts with ‘learners whose parents live in the feeder zone, in their own domicile or their employer’s domicile’. We’ve recently seen an increase in parents moving up the hill to Hilton from Pietermaritzburg to be closer to Laddsworth, an exceptional primary school.”
Rentals
Just Property’s Graham Ross, general
manager and owner of five branches, Western Cape, says, “A child’s school is one of a parent’s biggest decisions. As with property sales, the trend spills into the rental market, thereby creating a massive demand for rental property close to good schools and universities. Even though we’ve seen a downturn in rental values of late, these properties tend to retain their rental value due to the demand. Some tenants are also willing to sign longer-term contracts and accept the escalation that comes with that year on year.”
Moving closer to schools
“Our experience is that parents are usually prepared to trade better and more modern homes in the Pretoria East estates for easy access to Lynnwood’s good schools,” says Retha Schutte, Pam Golding Properties regional executive, Pretoria. “They’re definitely one of the most influential factors of property prices there, which also reflects in the low supply and high demand of suitable properties.” She adds, “The school activities in the area also impact indirectly on the community in general, for example, school sports days, with a high influx of visitors supporting local businesses.” Kyle Ebben, branch manager, Pam Golding Properties, Fourways and Dainfern, says Lonehill is one area close to top-class nursery and private schools, and as a result, there’s huge demand: “Its neighbouring suburbs also benefit as the proximity to the schools means parents can walk instead of drive their children to school.”
My business neighbourhood Bespoke jewellery lends the final touch of elegance to any outfit, for any occasion WORDS: TIVANIA MOODLEY IMAGES: SUPPLIED
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ippa de Charmoy wanted to create practical yet highquality pieces of jewellery to give every woman the opportunity to stand out. Her business, Della Lifestyle, fulfils that passion. Q: How did your business start? A: I’ve always wanted to create custom-made and unique pieces of jewellery for today’s modern woman and this is how Della Lifestyle was born. The name originates from combining the names of my two daughters, Ella and Demi. As the name is personally significant, it creates an authentic brand with a commitment to quality. Q: Why did you choose this area to set up shop? A: My office is in Mount Edgecombe, which is close to my home and my daughters’ school, which is very convenient for me. Q: How did you find your premises? A: I’ve leased these offices for the past four years for my other businesses,
so it made sense to use the same premises for Della. Q: Why are they ideally suited to your business? A: T he office is central within the Umhlanga area, close to Cornubia and the Mount Edgecombe Country Club. The area works for my lifestyle. Q: Who are your neighbours? A: I’m based in a secure office park, next to a lodge and conference centre. Q: What are the rental/sales prices like in this area? A: I’m currently paying R11,500 per month, which includes four parking bays. I think this is reasonable for this up-market area. Q: How many people go through your store each day? A: I occasionally do pop-up stores, but most of the sales are done online. The website has only been live for two months and I’ve had
over 200 visitors during September and sold approximately 70 pieces. Q: Do you have any expansion plans? A: I hope to have more pop-up shops in and around the Durban North area in the future. Q: Do you operate online as well? A: My business model is based on online shopping. I also have an active Facebook page and Instagram account (@DellaLifestyle) which showcase new and existing products. Q: What’s your most popular item? A: Presently it’s the Laguna drops in malachite and the Trio climber in black onyx.
SEE FOR YOURSELF: Della Lifestyle 082 567 8823 della.co.za
es, ol ns.
by tal
28 OCTOBER 2018
Neighbourhood
PROPERTY NEWS
5
Property fund for Zimbali Zimbali developers is creating a R2bn property fund where investors will be incentivised WORDS: CANDICE BOTHA
IMAGE: SUPPLIED
en a hese tal nants m n ”
Zimbali Capital will not only provide a vehicle for South African taxpayers to reduce their tax liability, but also an exceptional investment opportunity through its hospitality and student housing products
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WERNER BURGER, CEO, IFA HOTELS & RESORTS, SOUTH AFRICA
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uxury hospitality and development brand IFA Hotels & Resorts, has partnered with Jaltech to form Zimbali Capital, a R2bn property fund. A Section 12J venture capital company, this fund will allow IFA and its associate partners to raise capital under the Section 12J scheme, a relatively new income tax dispensation which assists small and medium enterprises to raise capital from South African taxpayers.
longevity, but because of the potential for investors to see a return on their investment earned through shortand long-term rentals at the first of Zimbali Lakes Resort’s hospitality projects, called Boulevard PAD.” By investing into a venture capital company such as Zimbali Capital, the investor will receive an equity share and thus become a shareholder in the property. Individual and company shareholding is capped at 20%.
“The attraction of investing in Zimbali Capital means that, under Section 12J, the cost of your investment is effectively reduced, but you can still earn a return on the full value of your investment,” says Werner Burger, CEO, IFA Hotels & Resorts, South Africa.
Jonty Sacks, partner at Jaltech, says, “Zimbali Capital, unlike the majority of the hospitality-focused venture capital companies, will not be sitting on funds in the hope to find an attractive investment opportunity. IFA Hotels & Resorts has an extensive pipeline of developments which they are looking to roll out in the short term. This will give investors the reassurance that their funds are made to work within a short period of time.”
Taxpayers are incentivised to invest in Zimbali Capital by receiving a return on their full investment and a tax deduction on their taxable income before the end of the 2018 tax year, resulting in a tax deduction of between 28% and 45%, depending on whether the investor(s) are individuals, companies and/or trusts.
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“Zimbali Capital will not only provide a vehicle for South African taxpayers to reduce their tax liability, but also an exceptional investment opportunity through its hospitality and student housing products,” says Burger. “Shareholders will see the benefit of their investment not only because Zimbali has proven to be a strong and desirable brand with undeniable
ate ge bs e stead
HOW DOES IT WORK? For example, if during the financial year ending 28 February 2019, a taxpayer (in the highest tax bracket) has had PAYE of R450,000, and the taxpayer invests R1m in Zimbali Capital, the taxpayer may be entitled to receive a refund from SARS of the full R450,000. This means that you have effectively only invested R550,000 in the fund, but still earn a full return on the investment of R1m.
20964
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PROPERTY NEWS
28 OCTOBER 2018
Neighbourhood
Neighbourhood
SCHOOLS IN YOUR AREA
Sunday Times Neighbourhood Durban wishes all matriculants well with their final examinations.
faith
family future
A Holy Family School Established in 1899
Grade 000 to Matric 558 STEPHEN DLAMINI (ESSENWOOD) ROAD, DURBAN
Limited places still available for 2019 Give your daughter the best foundation to enable her to develop academically, physically and spiritually, and become who she was meant to be.
031 209 9426
www.marisstella.co.za
Hillcrest High School has achieved over 40 years of excellence in serving our local community, providing exceptional physical and social environments in which all learners have the opportunity to become the best they can be academically, culturally, socially and in sport. We are committed to exploring alternatives and innovations, improving how we do what we do continuously, all the while maintaining our focus on the success of our learners. We aim to be at the leading edge of integrating technology into teaching and learning, as well as into leading, managing and operating our school. We are the only school in KZN to be nominated as a Microsoft Showcase School. We invest in Honour (developing character and leadership) and Hard work(academically, culturally and in sport), so we can Serve and influence (our communities) positively. This is captured succinctly in our school slogan: Where Good Results. Our five pillars of Academics, Sport, Culture, Community Service and Leadership are aimed at giving students opportunities, to develop and excel holistically. We had another outstanding Matric pass-rate in 2017 with a pass rate of 99,47%. and 80.42% Bachelor passes, with our top student achieving no less than 9 distinctions, including 100% in History! We are honoured to be presented with awards for the best Matric results in our Kwasanti Circuit. Many of our students have achieved international recognition for their achievements across all of our 5 pillars in the sporting, academic, cultural as well as service and leadership spheres. Our curriculum and educational policies reflect our efforts to keep abreast of the changing needs and attitudes of society and are aimed at affording students the opportunity to become well-adjusted and well-equipped young adults, who are able to meet and cope with the challenges of our dynamic society. We are currently the only school in KZN to be a Microsoft Showcase School. Our balanced and co-educational approach helps students to be well adjusted to the real world, developing their skills and character – life is, after all, co-educational. Our theme for 2018 has been ‘If it is to be, It is up to me’. Not everyone can come first, but everyone can aim to do their very best and achieve their best results in everything that they do. A particular mention to our Class of 2018 from our Headmaster, Mr Craig Girvin “Our Matrics are about to write the most important set of examinations of their school career. I wish them well for these examinations and hope that they will enjoy the success they deserve. I thank the staff for all they have done to prepare our Matrics for these examinations.” We wish all members of the school community a happy and successful close to the year. “Our Open Day takes place on Wednesday, 13 February 2019 - we’d love to see you there!”
DANVILLE PARK GIRLS’ HIGH SCHOOL
Passion
Potential
Purpose
Our Superbly equipped campus, and our staff of dedicated and highly motivated teachers, combine to provide a multi-faceted relevant education enabling each Danville girl to discover her PASSION, reach her POTENTIAL, find her PURPOSE and be PREPARED for life’s opportunities. Email : admin@danville.co.za / Web : www.danville.co.za / Tel : 031-5600350
For nearly 70 years, NGHS has motivated future generations to shatter glass ceilings. Help your daughter open the door to excellence. 031 571 1100 NGHS_ST-Advert-265x190mm_v1.indd 1
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www.nghs.co.za
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connect with us on 2018/10/10 11:55
DURBAN GIRLS’ HIGH SCHOOL FORTITER - FIDELITER - FELICITER 2018 Has been another year of development and opportunities for our girls at DGHS.
ENTREPRENEURSHIP
ACADEMICS
The Allan Gray Entrepreneurship Challenge is open to all high school learners in the country. DGHS was placed 9th overall and we are particularly proud of Jacquiline Isaac (9th) and Sabrina Isaac (7th). Our dedicated teachers also excelled, with Miss Berndt placing 3rd and Mrs Tromp 1st in the country!
At our recent Speech Day, we celebrated the achievements of our Matric learners who have continued our legacy of academic excellence.
SPORT
CULTURE
Durban Girls’ High School has had a busy sporting year participating in 26 competitive codes as well as having 120 learners selected for provincial teams and 5 learners and one staff member being selected to represent South Africa.
OUR ‘PROTEAS’ Paige Tancrel: SA U18 Waterpolo & SA Youth Team for 4th Fina World Cup Megan Ferencak: SA Majorettes at the World Championships Bongokuhle Mhlongo: SA Majorettes at the World Championships Sange Matabese: SA Touch Association U18 Team at the Youth World Cup Hannah Shepard: SA Touch Association Mixed U20 Team - Youth World Cup Miss Marais: SA Schools Hockey U18 Girls’ Coach
Our diverse extra-curricular cultural programme has continued to flourish. DGHS dramatists impressed in our rendition of The Taming of the Shrew and our school production, Golden Girls. Our Debaters remain at the top their game: we are the 2018 senior league champions. A highlight of the year was the World Choir Games, held in Pretoria, where we were awarded silver diplomas for both categories entered.
NEW EDUCATIONAL FACILITY Opening in 2019...
LEADERSHIP A DGHS team recently returned from Borneo where they had completed their World Challenge, including a trek, communi ty service and recreation At the SAISC Steel Awards 2018 our new Facility Centre received a commendation and the top award for its tubular steel work.
AT THE HOUGHTON, EVERYONE HAS A VIEW... « of the skyline from Northcliff to OR Tambo International « of the Jack Nicklaus Signature golf course « about the fantastic investment opportunity with real returns « about enjoying electricity and water back-up 24/7 « about residing in a five-star environment with its own top-class, luxurious hotel « on the peace of mind that comes with living in a secure, tranquil oasis
THE HOUGHTON HOTEL IS JUST ABOUT COMPLETE. J O I N U S I N W AT C H I N G T H E F I N I S H I N G T O U C H E S B E I N G A D D E D . I T S C A P T I VAT I N G .
OSBORN RD
M1
HOUGHTON GOLF CLUB
2ND AVE
Luxury apartment 8555, is open for daily viewings. A limited number of apartments are still available. WARREN BECKER 082 302 3004 | warren@thehoughton.com ASHLEIGH SMITH 073 220 7357 | ashleigh@thehoughton.com Gate 2, 53 Second Ave, Houghton | Show apartment 8555