The Property Mag-March 2011-KwaZulu Natal issue by Media Nova

Property MARCH 2011

Winner of 9 publishing awards

Has the 2010 World Cup helped Foreign investment in SA?

Est. 2004, Issue 219

kwazulu-natal

decor, trends, luxury, design & real estate

Guest editor real estate Berry Everitt, CEO Chas Everitt international

Paragon Architects take on the world

9 771811 700007

Dream honeymoon destinations â&#x20AC;˘ Midrand: Where corporate and country collide

11 0 0 3

Eclectic living in Sea Point

RSA R34.95 (incl Vat) Other countries R21.90 (excl Tax)\

Stylish APARTMENT

A luxury lifestyle is awaiting youâ&#x20AC;Ś

Family Estate Sectional Title Apartments 95% sold out! Land from R 327 000 Finished Homes and Homes off plan from R 999 999

Sales & Letting Team: 08 6 123 PALM info@royalpalmestates.NET s www.royalpalmestates.net Royal Palm family Estates is situated 13 kilometers North of Ballito and 23 kilometers North of the new King Shaka International Airport and Dube Trade Port and is a short distance from the beach.

Contents

MARCH

BIG MONEY OR ‘FEEL GOOD’ SENTIMENT?

We look at the impact it’s had on foreign investment over the past

non-resident property investors.

nine months.

DECOR 08

HOT PROPERTY – HOT SPACE Retro design, green heart – Coastlands Umhlanga Hotel &

Conference Centre. .

SIXTH SENSE Eclectic style and spectacular views combine in this fabulous Sea Point apartment.

TRENDS 09

impact the industry in 2011.

SOUTH AFRICAN ART TO WATCH

RESIDENTIAL Upmarket apartments on the

Five up-and-coming young

coast, property predictions,

artists whose work you should

and the health of the

be buying.

buy-to-let market.

COMMERCIAL Zenprop continues its growth in

HONEYMOON BLISS

Riverhorse Valley, a new Tysons

Honeymoon getaways to

Properties franchise opens,

suit everyone’s taste – from

and the North Coast hospitality

glamorous and luxurious to

industry hots up.

DESIGN

PROPERTY FUND Where to place your bets, a brighter outlook for

HOT PROPERTY – HOT DESIGN

ofﬁce-focused funds, and listed

Furniture designer James Mudge,

SA’s top 100 companies.

property ﬁrms are ranked among

a new range of Afro-chic fabrics,

Estelle Lourens, great eats

and Tamarillo Ceramics come

magniﬁcent lifestyle estate in

from Mr Mozzie’s, Bartho’s Fish

to KZN.

Mauritius, UK opportunities, and

the colours you’ll need for winter,

Ocean Reef Hotel.

OFFSHORE Luxury villas in Eden Island, a

AUCTION A stylish Sandton penthouse,

Rasmuss of Paragon Architects

goes under the hammer, the

are making their mark both

commercial and industrial auction

locally and internationally.

industry turns the corner, and a

the shelf right now

REAL ESTATE

THE MIDWAY MARK

A little bit city, a little bit country,

help buying in France.

PASSIONATE BY DESIGN Anthony Orelowitz and Henning

HOT PROPERTY – HOT SHOP The most covetable items on

key pieces of legislation will

people in KwaZulu-Natal.

Insight from winemaker

ﬂavours at Bamboo Lounge at

ON THE COVER

Out and about with the beautiful

aesthetically friendly security,

and café, and simple, fresh

Prime property in Sea Point

CEO Berry Everitt, believes two

HOT PROPERTY – HOT PLATE

Co. and Litchi Orchard’s market

Real Estate Guest Editor, Chas Everitt International

rustic and secluded.

THE YEAR OF THE CONSUMER

SOCIETY

LUXURY 32

We speak to the legal top guns on the beneﬁts and pitfalls facing

Has the 2010 Fifa World Cup lived up to our expectations?

GROUND CONTROL

RISING AND SHINING Liezel van der Westhuizen,

fundraising auction is planned to rename a new species of iris.

GREEN BUILDING Nestlé ofﬁces get Green Star

marries old with new. See page

Midrand, Gauteng, is forging

presenter on SABC3’s Expresso,

rating, Robben Island gets

14 for details.

ahead as an area to watch. We

reminisces about her ﬁrst home in

eco- friendly and Villiera Wine

tell you why.

Centurion, Gauteng.

Estate makes solar progress.

March 2011 | 1

art Art Director Warren Uytenbogaardt warren@medianova.co.za Mid-Weight Designer Trudine Scannell Senior Retoucher Tim Lake CONTRIBUTORS Berry Everitt, Jackie Gray, Carol Johnson, Joan Muller, Gareth Stokes, Lisa Witepski Photographers Val Adamson, Sally Chance, Jacques de Villiers, Danie Nel, Karl Rodgers, Paul Shiakallis, Brenda Veldtman PRINTING CTP Printers Cape Town ADVERTISING sales@medianova.co.za Group Sales Director Shanee Smart Western Cape Sales Michel Jones, Justin Lyons, Tharien Nel Gauteng Sales Rui Barbosa, Anine Ehlers, Marc Lahoud

marketing Circulation Director Vanessa Marks Senior Marketing Coordinator Amanda Africa Marketing Intern Lucinda Piet PUBLISHED BY MEDIA NOVA (PTY) LTD Managing Director Tony Vaughan tony@medianova.co.za PA To Managing Director Cheréés O’Reilly cherees@medianova.co.za Associate Publisher (Namibia) Mynard Slabbert mynards@mweb.co.za Finance Manager Laetitia Bothma tish@medianova.co.za Senior Bookkeeper Shafeeqah Davids Credit Controller Lizel Deane Online Manager Andrea Firth Online Assistant Catherine Riley Technology Coordinator Jean-Paul Siljeur Receptionist Kim Africa Drivers Willem September (Western Cape) Joseph Khoza (Gauteng)

Nedbank Property Association Awards 2010: Winner – Mover & Shaker Award (Tony Vaughan) PICA Awards 2009: Winner – Special Award, Overall Publishing Excellence PICA Awards 2008: Winner – Consumer Magazines, Largely Free Distribution, and Highly Commended: Editorial Excellence, Public Interest Writer of the Year (Ed Suter) 20th SAB Environmentalist of the Year & Environmental Journalists of the Year Awards 2008: Winner – Merit Award, Print & Internet SAPOA Property Journalism Awards 2008: Winner – Best Property Publication, and Special Mention – Property Feature Journalist (Ed Suter) PICA Awards 2007: B2B – Publishing Excellence, Leisure Mondi Magazine Awards 2005: Winner – Foresight SAPPI PICA Awards 2005: Winner – Philip Tyler Trophy for Innovation in Magazine Publishing Brandhouse Media Owners Challenge Awards 2005:Winner – Innovation in Publishing SAPPI PICA Awards 2005: B2B – Highly Commended Mondi Magazine Awards 2004: Industry – Finalist Launch Edition: April 2004 WESTERN CAPE 3rd Floor, 33 Bree Street, Cape Town 8001 PO Box 50601, The Waterfront, Cape Town 8002; Phone 0861 765 833 Fax +27 (0)21 421 7891 GAUTENG 8th Floor, Fredman Towers, 13 Fredman Drive, Sandown, 2196 PO Box 785828, Sandton, 2146; Phone 0861 765 833 Fax +27 (0)11 884 2830 KWazulu-natal Ground Floor, 55 Gladys Mazibuko Road, Berea 4001 Postnet Suite 329, Private Bag X10, Musgrave 4062; Phone 0861 765 833 Fax +27 (0)31 208 5278

www.lagrangeinteriors.co.za

Kwazulu-Natal Sales Charles Roets, Jenni McCallum Namibia Sales Mynard Slabbert Directory Sales Mavashini Naidoo, Obed Sealetsa Production Manager Elly Hammersley Traffic Controller Liesl Dodgen

•

EDITORIAL Editor Sandy Welch sandy@medianova.co.za Gauteng Bureau Chief Jackie Gray writer.jackie@gmail.com KwaZulu-Natal Bureau Chief Anne Schauffer anne@medianova.co.za Senior Subeditor Yaron Blecher Subeditor Mariola Fouché Features Writers Genevieve Fisher, Andrea Firth (Western Cape) André Fiore (KwaZulu-Natal)

325 Umhlanga Rocks Drive, UMHLANGA RIDGE Tel: 031 566 1137

thepropertymag.co.za

•

Property

SUBSCRIPTION ENQUIRIES Email subs@ramsaymedia.co.za Online magsathome.co.za Local Phone 0860 100 203 Fax 086 670 4101 International Phone +27 (0)21 530 3255 Fax +27 (0)21 531 7303 SMS 41871 with reference ‘Property Magazine’ (R2/sms) for subscription enquiries EDITORIAL ENQUIRIES General editorial@medianova.co.za Socials Western Cape socials@thepropertymag.co.za Socials Gauteng socials@thepropertymag.co.za Socials KwaZulu-Natal socialskzn@medianova.co.za Hot Property hotproperty@medianova.co.za Published monthly in three regional issues: Western Cape, Gauteng and KwaZulu-Natal Current ABC Audited Circulation (Q3 2010, July–September) Western Cape – 27 789, Gauteng – 28 068, KwaZulu-Natal – 17 829, Total Nationally – 73 686 Web Stats: Unique Page Impressions – 37 589; Property Club Members – 24 884 Amps Audited National Readership (2010A) 370 000

Property has the 2010 World Cup helped Foreign investMent in sa?

Western Cape

Why MozaMbique property is on the up

Guest editor real estate berry everitt, Ceo Chas everitt international

Property HAs THE 2010 WORld CUp HElpEd FOREIGN INvEsTMENT IN sA?

GAUTENG

ParaGon architects TAkE ON THE WORld

Property HAs tHE 2010 WORld Cup HElpEd FOREIgn InvEstMEnt In sA?

Sandton’s first

Park inn by radisson ParaGon architects tAkE On tHE WORld

oVerBerG Bliss

Langezandt Fishermen’s Village ParaGon architects take on the World

Dream honeymoon destinations • Midrand: Where corporate and country collide

kWAzulu-nAtAl

Guest editor real estate BERRy EvERItt, CEO CHAs EvERItt IntERnAtIOnAl

stylish APARTMENT

Guest editor real estate BERRy EvERITT, CEO CHAs EvERITT INTERNATIONAl Dream honeymoon destinations • Midrand: Where corporate and country collide Why Mozambique property is on the up

Eclectic living in Sea Point

Dream honeymoon destinations • Midrand: Where corporate and country collide • Why Mozambique property is on the up

On this month’s covers Western Cape: Langezandt Fishermen’s Village. Johan Roodt, +27 (0)82 483 9496, langezandt.co.za Gauteng: Park Inn by Radisson, Sandton. +27 (0)11 303 1000, parkinn-sandton.com KwaZulu-Natal: Stylish apartment – Eclectic living in Sea Point Disclaimer The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright Media Nova (Pty) Limited. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from Media Nova (Pty) Limited. The publishers are not responsible for any unsolicited material.

CTPprinters

CAPE TOWN

P. LE GRANGE & SEUNS/SONS

medianova.co.za

69 Kramer Rd, Kramer ville, JOHANNESBURG Tel: 011 444 5379

Namibia Phone +264 (0)61 248 161 Fax +264 (0)61 245 942

La Grange

INTERIORS

ED’S LETTER

In the eye of the beholder Photograph Ruvan Boshoff

One of my favourite fairytales of all time is The Emperor’s New Clothes. I love it because you can apply it to so many everyday situations. (If you’ve lost touch with your childhood roots and can’t remember the story, go to emperorsnewsuit.com.) My interpretation is that it’s about people forcing themselves to believe something because everybody else believes it, which in turn guarantees they are cool. Until one day someone points out that actually it’s not cool … The latest case in point is those power bracelets that claimed to balance your body’s natural energy field. With absolutely no concrete studies, the producers convinced people through clever marketing and the endorsement of various celebrities that their product was the answer to becoming a super-human. Consumers snapped them up faster than you can say ‘passing fad’. Then some savvy Australian decided to ask for proof … and it emerged that there wasn’t any. But back to my favourite fairytale. I suppose you could say the child in the story was what we’d call a ‘whistleblower’, someone who’s not afraid to tell the truth as they see it. That’s pretty much how the case of Wendy Machanik Properties was brought to light. At the time of going to press, the company had been prohibited from trading for misappropriating trust funds. It’s not the policy of this magazine to judge anyone, particularly as the case is still under review. What was most disturbing to me, however, was the public backlash on various internet news sites against the real-estate industry as a whole, something I think is unwarranted. As a homebuyer, though, do you have cause for concern? The main thing is to safeguard yourself – never hand over money without being given proof of where it will be deposited, and only deal with agents who have a Fidelity Fund certificate or a membership card for the IEASA.You can also request to view, by means of a password, the trust account in which your deposit is being held, and insist that the trust fund is audited twice a year. It’s hard to believe that this time last year we were cautiously anticipating the 2010 Fifa World Cup. I remember pessimism still outweighing optimism, hotel beds not yet filled, and people who’d been promised buckets of money through renting out their homes suddenly realising it wasn’t going to happen. And then we had that incredible month when we got to polish our rainbow. So, now, almost nine months after the event, what’s actually happened? We went ahead and built it – but have they come? Find out in our Insight story on page 24. And for just a few minutes, relive the glory.

THE PROPERTY MAGAZINE ONLINE

SUBSCRIBE Turn to page 20 for our special offer. VISIT Browse thepropertymag.co.za for the latest features. FOLLOW US on Facebook and Twitter: facebook.com/thepropertymagazine twitter.com/thepropertymag 0861 765 833

Sandy Welch, Editor

If you haven’t yet, you really should … Visit the Imbizo Art Gallery at the

Visit La Grange’s new showroom

Learn more about Cape Town’s

Ballito Lifestyle Centre to see the

in Umhlanga. I’m crazy about this

bid to become the World Design

Carl Smyth Collection of Richard

gorgeous range, which combines

Capital for 2014. The theme of the

Scott’s Gold Tree paintings. (And

an eclectic mix of 100% natural

bid, which will be submitted in March,

maybe even buy one!) I love the

woven kubu furniture with pieces

is ‘Re-connection’, and it will cover a

principle behind these artworks, in

made from reclaimed wood,

variety of different aspects of the city,

which Richard is saying that if you

industrial metals, brass, iron and

from the Integrated Rapid Transport

plant your own golden seeds, one

glass. With smart upholstery and

system through to the recently

day your gold tree will grow. He has

bold, patterned cushions, it is a

named area, The Fringe: Cape Town’s

already proven to be an artist with

perfect addition to any space.

Innovation District. If it wins, the city

huge investment potential – a work

You will ﬁnd the showroom on

will get the opportunity to present its

called ‘Jacaranda Tree’ he sold in

Umhlanga Rocks Drive.

perspective on design to the rest of

2002 is today worth R54 720.

+27 (0)31 566 1137

the world for the whole year through

+27 (0)32 946 1937

lagrangeinteriors.co.za

a series of events. World Cup fever all

imbizogallery.co.za

over again. +27 (0)21 419 1881, capetown2014.co.za

4 | March 2011

DStv I P ONE INTEGRATED NETWORK.

As seen on DStv

JHB 28644

MANY ADVANTAGES.

Now you can get a complete TV & data content solution for your institution – be it a stadium, hotel, corporate, office park, mall or residential estate. This smart solution can seamlessly integrate television, telephony, internet, and even security – making it centrally manageable, customisable and cost effective. Our team has created custom solutions for some of SA’s leading venues and institutions.

WILD COAST SUN SUN INTERNATIONAL

FNB STADIUM

XANADU ESTATE

ILLOVO EDGE

Call one of the accredited DStv IP system integrators. Smart Village: (012) 679 3400, Space Television: (021) 462 5103, Ellies: (011) 490 3890 and Sammeg: (011) 474 2666. For more information, visit www.dstv.com

You tell us

Property involves us all. What’s your view? Email letters@thepropertymag.co.za. TIME OUT This is just a short note to compliment you and your team on a fascinating edition of your regular magazine. During my busy year I don’t find time to digest all of the articles, but having spent three fantastic weeks at our holiday home in Hermanus, I found plenty time between cricket matches on the TV to read the interesting articles you put together in your December/January issue. Well done! Normally I scan the magazine to see prices of homes in those exotic places, and also look with interest at the movement of prices that are more in our price range. From now on I will be reading everything, including some of the unusual adverts, such as the one for the solar sheet. Getting to see those items for homes and where to find them is a big attraction, so be assured I am looking forward to your next issue. Bob Cork, Westlake, Cape Town

LETTER th of the Mon

SOLD! I have just read the February issue of The Property Magazine, and it’s truly a great read.Well done on the new look and feel. Most importantly, thank you for allowing me to be your first guest editor. I truly appreciate it. Wishing you and your team health, happiness and success for 2011. Rael Levitt, CEO, Auction Alliance, Cape Town

PEER REVIEW I picked up the February issue of The Property Magazine, and 45 minutes later I had read every page. Enthralling! I honestly don’t remember when I last lay down with a publication and read it from cover to cover. I guess when you’ve been in PR for 18 years, you’re inundated with publications to browse through to find angles, columns and opportunities, and it’s often difficult to just switch off and see a magazine for what it is. Compliments on an enjoyable read, fascinating articles, spacious layout and fresh look. Wishing you lots of luck in the future with your publication. Here’s to a rewarding 2011! Nicole Chamberlin, via email Loved your Dec./Jan. bumper issue! It was more than informative for all the property consultants I know. Keep it bumping! Dave Kekana

WINNING LETTER Write to us and you could win a Bugatti Glamour Range kitchenware hamper valued at R1 500! Thanks to a team of specialist designers, the comprehensive range of products is all about

Quietly Tiling Africa Malls Tiles is the largest independent tile distributor in South Africa and carries the largest range of tiles. We are pleased to announce the launch of our Contracts Division which has been initiated to best serve the tile requirements of Developers, Architects, Construction and Interior Design companies. FOR ENQUIRIES PLEASE CONTACT:

KwaZulu-Natal • Cindy 083 381 1097 Shaun 083 794 8285 email: contractskzn@mallstiles.com Gauteng & Mpumalanga: • Andy 083 588 2481 Brian 082 327 3057 • Chris 083 603 3978 Imraan 083 786 7554 Western Cape: • Hamied 082 968 6445 Archie 082 458 8303 email: contractswc@mallstiles.com Rest of South Africa and Countries surrounding South Africa • Hassan 083 456 8703 email: hassan@mallstiles.com • Raoof 084 525 5058 email: rj@mallstiles.com

quality, beauty and practicality. italianlifestyle.co.za

facebook.com/thepropertymagazine

twitter.com/thepropertymag

CONTRACTS DIVISION

HOT PROPERTY

HOT space

Glamour on the rocks

On the surface, the glam new Coastlands Umhlanga Hotel & Conference Centre may appear charcoal with accents of red, but underneath, it’s all green.

oastlands Umhlanga

through bands of colour which define

adds, ‘The design was only determined

been standardised with carpeting,

Hotel & Conference

the edges and functional zones of the

by the client in terms of functionality,

paint and furniture shaping. But, rising

Centre is perfectly poised

lift lobby, the fourth-floor hotel lobby,

which freed us up to be very creative.

floor by floor, the wallpapers, fabrics

on Umhlanga Rocks

and the commercial wings.’

Everything was customised. We even

and colours become lighter in colour

designed a carpet specifically for

and texture. The fifth floor contrasts

Drive, each room breathing in the

They continue, ‘Our design

restorative, 180° vistas from Ballito to

philosophy is always focused on

the group, and another for a 1m2 tile

quite sharply with the freshness of the

the Bluff. The second four-star hotel

sustainability: we combine technology

format.’ The practice prides itself on

upper floors, so guests enjoy different

in as many years to be developed

and energy-efficient systems with

its trademark edgy, often sensual look,

leisure experiences.

by the Saantha Naidu Group, this

the traditional, passive principles

and on this project, set finishes such as

luxurious, 30 000m2 development

appropriate to the South African

retro, high-gloss stained kiaat against

towards the executive traveller

not only has seven hotel floors, but

lifestyle. For Coastlands Umhlanga, we

contemporary stainless steel, and

seeking a large dose of luxury, but the

three commercial and retail floors

incorporated a 90% green Resocrete

geometric prints against antique-style

numerous on- and off-site features

with restaurants, a convention centre

cladding system, a triple-glazed

furniture. ‘The combination of straight

make it ideal for the leisure traveller.

with seven conference rooms, and an

facade and ventilated double skin of

lines with circles and segments of

This hospitality newcomer straddles

extensive pool deck too. The fine mix

Solarshield glass to increase natural

curves adds interest to a hotel design,’

both worlds. Much like Umhlanga New

of hotel, retail and business services

daylight and ventilation in the internal

says Grant, ‘and in this case, gives a

Town Centre, where work and play are

will soon be joined by a health and

spaces. All landscaping is indigenous.’

slightly ’70s, retro feel.’

happy bedfellows.

beauty spa.

Fahrenheit Design managed the

The core of the hotel – the 5th

Coastlands Umhlanga leans

+27 (0)31 514 6500, coastlands.co.za;

interior design and decor of the first

to 10th floors – is a lofty five-storey

+27 (0)31 312 3335,

creating ‘an iconic building unlike

Coastlands (on the Ridge), says Design

atrium edged with walkways, with the

fahrenheitdesign.co.za;

anything else on the Ridge’. They did

Director Grant Webster, ‘so this new

guest lobby at the base. To mirror

+27 (0)31 563 0848,

so ‘by expressing the building’s form

hotel was effectively “Big Brother”. He

this sense of space, all rooms have

pgaarchitects.co.za

PGA Architects was tasked with

Strong lines and diffused light welcome guests to the hotel lobby. 2‘Plush’ is the signature feel in every

Visit thepropertymag.co.za for more fabulous

room. 3A gracious sense of space at the hotel’s core 4Detail is everything. 5Fine dining at Saffron restaurant.

getaway destinations.

8 | March 2011

Words Anne Schauffer Photographs Sally Chance

HOT PROPERTY

HOT PLATE

Host the perfect dinner party with fresh fine food, or head out to a couple of family-friendly eateries.

Meaty offering

For fans of Mr Mozzie’s, some tasty new titbits! New ranges include smoked ostrich ﬁllet cold cuts prepared according to gourmet recipes – ideal for guilt-free,

ESTELLE LOURENS,

low-cholesterol lunches and snacks. For

winemaker at Uitkyk, talks to us about the

bigger appetites, Mozzie’s home- smoked

recent release of the estate’s 2007 Carlonet

bokwurst footlong is proving to be a

to mark the wine’s 50th anniversary, as well as

popular ﬁller for those on the move.

what it is like being a woman in the ‘boys’ club’

Healeys’ multi- award-winning Farmhouse

of winemaking.

Cheddar is now available in KwaZulu-Natal exclusively from Mozzie’s. Rib- eye steak is now a regular too. Still situated on the corner of Argyle and Stamford Hill Roads and in La Lucia Mall, Mozzie’s is now also

Q What is your most memorable wine experience? It was in 2003 when I took a bottle of the

in the Hillcrest Centre at 38 Old Main

2001 Carlonet – my ﬁrst vintage at Uitkyk –

Road. +27 (0)31 309 1499

home for my father to taste. It was the ﬁrst

Beach treat

Surrounded by indigenous dune-lands and milkwoods, and with its own boardwalk providing direct access to the beach and natural rock pool, the refurbished Ocean Reef Hotel at Zinkwazi is a little piece of lagoon-side paradise. In addition to the superb two-bedroom penthouse suite, the hotel offers 38 rooms, and has been designed using a fresh Afro-Indonesian palette of neutral colours and rustic tones that blend in with the natural setting of beach and indigenous bush. The hotel’s Bamboo Lounge restaurant offers simple, freshly prepared foods with a mix of flavours inspired by diverse cultures. Key dishes include a succulent Brazilian espetada, the signature pizza topped with prosciutto, beetroot and Gorgonzola, and seafood delights, including Spanish prawns with mussel and clam paella and local linefish baked whole in wood-fired ovens then served wrapped in banana leaves. There’s also a kid’s

wine he actually liked. Until that point, no wine, whether made by me or anyone else, had impressed him. It was a very special moment.

Q What would you pair the 2007 Uitkyk Carlonet with? Nurturing, sustaining foods, such as lamb shank or oxtail.

Q What wines do you currently enjoy drinking? At the moment it would be chilled whites,

menu that includes many favourites. Enjoy indoor dining in the air-conditioned restaurant or al fresco

particularly the 2010 Uitkyk Sauvignon

beside the pool. +27 (0)31 312 6250, signaturelifehotels.com

Blanc, as it is crisp and refreshing, and the 2009 Uitkyk Chardonnay, for its elegance and citrus tang.

Q As one of the few female winemakers at an established estate, what has working in a male-dominated industry been like for you? I have always found my fellow winemakers to be very enabling and supportive, ready to give advice and also to give me the chance to do things my way. In my earlier days there were some colleagues who tried to make things easier for me, but more out of a sense of gentlemanliness than paternalism. +27 (0)21 884 4416, uitkyk.co.za

March 2011 | 9

HOT PROPERTY

HOT SHOP

Exotic fashion, smooth cocktails and the freshest of fish.

JEAN-EALOGY South African fashionistas can now indulge in the whimsical women’s clothing brand, Lily Jean. Inspired by the beat of the Brazilian samba, the exotic, tropical ﬂora of Bali and the wild Australian outback, the range is now available at all Alexandra Del Lago stores. +27 (0)21 418 0625, alexandradellago.com

Country café

The new Orchard Café at The Litchi Orchard in Salt Rock offers fresh locally produced food in a laid-back country setting. Many ingredients are sourced from The Litchi Orchard’s market stallholders and the café aims for a simple, sustainably produced menu and local ﬂavours. With space for kids to spread out and good coffee tailor-made by the neighbouring Beanstruk Coffee Roasters, breakfast or lunch under the trees promises to be a relaxing occasion. litchiorchard.co.za

A PERFECT TEN Maintaining a tradition of excellence that reaches back to 1830, Tanqueray No. Ten is the only gin in the world to be distilled from whole fresh citrus fruits and botanicals. Its distinct ﬂavour creates exceptionally fresh-tasting cocktails, such as this martini: 70ml Tanqueray No. Ten 5ml vermouth Stir the ingredients and serve in a frozen martini glass with grapefruit peel to garnish. +27 (0)21 442 7374, brandhouse.co.za

BIG CATCH Foodies in the Nottingham Road area are delighted by the opening

under a year, Bartho brothers Daryl and Brett have created waves

Field to fork

with their ultra-fresh selection of local seasonal ﬁsh, squeaky clean

home- grown goodies and some time out in a relaxed environment, the

of Bartho’s Fish Co. in Meander Square. It’s the brand-new sister shop to the highly popular Bartho’s Fish Co. in Durban North. In just

trading premises and passion for sharing their years of ﬁshing experience and recipes. Pop in for specialities,

Offering a good dose of fresh air, the certainty of baskets full of Litchi Orchard Market runs on the ﬁrst and third Saturday of each month, from 8 a.m. to 1 p.m. Set on The Litchi Orchard farm in Salt Rock, the market is a wholly family-owned-and-run venture offering foods and related

including sushi-grade fresh tuna and

products that are fresh, local and sustainably produced. Sample and select

Scottish salmon, smoked marlin,

goods ranging from coffee and wines to meats, cheeses, pickles, preserves,

’cuda, dorado, swordﬁsh, various

dressings and bakes, or snack on the spot at the tables and picnic facilities

whole lineﬁsh, and prime hake and kingklip ﬂown in weekly

provided. For those interested in gardening, the market backs onto the Orchard Nursery. It is being developed into a food plant nursery with a wide

from Cape Town.

range of vegetable and herb seedlings and fruit and nut trees, and is well

+27 (0)31 563 7534

known for its bougainvilleas and palms. Worm-farm kits and composting units are also available. litchiorchard.co.za

10 | March 2011

HOT PROPERTY

HOT DESIGN

Making your home beautiful is as important as keeping it safe for you and your family.

JAMES MUDGE is a Cape Town- based furniture designer

Sophisticated security

and manufacturer

If you’re tired of your home’s security

everywhere,

arrangements impacting on the aesthetics,

including at the

whose products are appearing

upmarket wine-farm

then the new Trellidor Clear Guard is deﬁnitely worth investigating. The product consists of an

restaurants Pierneef à La Motte and the Olive

aluminium frame and a high-tensile steel mesh

Shed at Tokara. He talks to us about his love of

insert that keeps intruders out but allows your

antiques, building his mother’s house and his

views to remain unobstructed.

must-have furniture item for 2011.

0861 873 55 43 67, trellidor.co.za

Q What is the most memorable project you’ve worked on to date, and why? I built a house at the sea for my mother a

few years ago. It is made of wood, and it was

Winter woollies

like building a giant piece of furniture. I have just returned from a family holiday there, and it certainly is special – a giant ﬁshing shack

You may not be thinking about

surrounded by natural bush. Looking back,

winter yet, but it pays to plan

it was a mammoth task – I’m not quite sure

ahead. Woolworths’s winter

how I managed it. My team and I used a lot of

range steers away from the usual

second-hand material, which added enormous

greys and monochrome winter

character to the home, and it seems to be

shades this season and instead employ vibrant colours, such as deep purples, bright fuchsias and rich blues. 0860 100 987, woolworths.co.za

getting better and better with age and use.

Q What is the one home interior item you are lusting after? I am after a big antique leather sofa with a

horse-hair-and-goose-feather stufﬁng – the type that goes ‘pfhhh’ when you sit on it. It’s deﬁnitely on my ‘most wanted’ list.

New lines

Q Where do you find inspiration for the work you do? I ﬁnd antiques very inspiring, as they often come from a time when things were done

Inspired by nature and brought to life by ceramic

properly by people who spent a lifetime

stylist Lorrae Mehmel, Tamarillo Ceramics are

acquiring their skills. There is a lot more

now in KZN and available exclusively at Teremok.

to making solid wood furniture than most

The Tamarillo range features bold images of

people think. I also ﬁnd my raw materials very

indigenous ﬂora and fauna that are striking in their

inspiring, as well as ﬂea markets. I love seeing

modernity yet retain an organic feel. The range

the junk that people collect as well as how

includes tea sets – jugs, teapots and sugar bowls

they have adapted everyday items to suit

– that bring a spark to a classic pastime, water

their needs.

jugs suitable for any occasion and chic enough to hold a ﬂoral arrangement and fun, ‘silly’ vases that, needing only a single stem, make a simple, stylish and cost- effective statement. Also included in the range are ink-on-canvas artworks that complement

Q What project are you currently working on? Apart from my usual trade, I’m working on a

the ceramics or can be mixed and matched for a

proposal for another wine farm and have a few

personalised collection of contemporary art.

more pieces to make for Mavromac’s ﬂagship

+27 (0)31 561 5848, teremok.co.za

showroom in Cape Town, which I completed at the end of last year. +27 (0)79 171 8240, jamesmudge.com

March 2011 | 11

HOT PROPERTY

HOT STUFF

There is also an audio function

that enables you to record audio notes. To convert the handwritten and audio notes into

TAKE NOTE

digital documents, all you have to do is plug the smartpen into your computer and let the special Livescribe desktop software do the rest. Taking minutes in your weekly staff meetings just got a whole lot easier!

A smartpen gives you the best of both worlds.

For those who prefer taking

notes the old-school way, with good old pen and paper, the Livescribe Echo Smartpen will ease you into the digital realm. You will need a special Livescribe Notebook in which to write your notes, which the pen records accurately.

+27 (0)11 684 1545, circuitcity.co.za

ENTERTAINMENT Out and about in March

WHAT’S ON RAMfest Durban, 11 March In Durban for the ﬁrst time and hosted by John Vlismas at Wave House, RAMfest offers a celebration of some of SA’s top rock bands, including Die Antwoord, Zebra & Giraffe (pictured above), Van Coke Kartel and Not My Dog. Bookings via ticketbreak.co.za.

Time of the Writer Festival, 14–19 March Twenty writers from 12 different countries are participating in the 14th Time of the Writer International Writers Festival. The week-long programme includes readings, presentations, panel discussions, music and book launches at the Elizabeth Sneddon Theatre in the evenings. seminars, workshops and school programmes take place across Durban during the day. +27 (0)31 260 2506, cca.ukzn.ac.za

Trends & Tastes, 18–21 March Launched by Decorex SA in collaboration with the KSA Kitchen and Bathroom Faire, Trends & Tastes features a fusion of decor, design, food and lifestyle trends. The show takes place at

Party animal

the Durban Exhibition Centre, and includes an organic-food market and picnic area. Tickets at

To get the party going and keep it that way, Leopard

André Rieu Arena Tour, 23 March

Productions together with DJ Tracer specialises in a fab

Well known as the creator of the Johann Strauss Orchestra, Dutch violinist, conductor and

selection of music – all genres available – as well as scanners,

composer André Rieu and his orchestra are performing at the ICC Durban for one magical

lasers, ﬂower lighting, smoke effects and karaoke. Reasonable

evening. computicket.com

rates and specialist service guaranteed. +27 (0)76 052 5395

12 | March 2011

the door. +27 (0)11 549 8300, thebeexhibitions.co.za

MY FIRST HOME

Rising and

shining Words Genevieve Fisher

Expresso’s Liezel van der Westhuizen reminisces about the jacarandas of Centurion.

iezel van der Westhuizen has always had a fondness for nature and has subsequently watched her fingers turn a tinge of green over the years. ‘I’ve always loved being outdoors and come from a family of keen gardeners. My gran, my aunt and my mom would always bring shrubs and spend time on weekends teaching me about plants and how to grow a beautiful garden, especially when I lived in the first house I bought in Centurion, Pretoria,’ she says. Liezel loved that Centurion was abundant in trees, as it didn’t feel as if she was living amid the hustle and bustle of a metropolis. And, of course, there were her neighbours and the other residents of the area. ‘There is something special about the inhabitants of Pretoria. They are very friendly. Whenever I’d run or cycle around my neighbourhood, everyone would greet me and chat to me, even if they didn’t know me,’ she says. And what of her home in Centurion? ‘When I first bought it I remember showing it to my family and their reaction to it: they loved it! The house was designed around an open-air entertainment area, where my family and I spent many lazy days braaiing and entertaining each other. I loved that although you were technically in the house, there was this sense of being outdoors.’ ‘The lounge had an unbelievable view of the garden and pool,’ she continues.‘The garden was a haven for birds, especially females wanting to nest, which was something that I had hoped for. When I was growing up, my mom

taught me the value of biodiversity, particularly with regards to birds – how they could aid the growth of a garden, which plants and shrubs would attract them, and how the addition of a birdbath and feeder would ensure their return. I landed up with the loveliest, liveliest indigenous green garden.’ Today, Liezel is happily settled in Kenilworth, Cape Town, an equally verdant suburb (although she does miss the jacarandas). She says, ‘Living in Kenilworth is very similar to living in Centurion, as there are big trees lining the streets, and it’s a lovely, safe neighbourhood to live in. The difference is that now I hardly use my car, and cycle to work every day. I have come to realise why Cape Town is considered to be one of the most beautiful cities in the world.’ She is reminded of this beauty whenever she arrives fresh off her bicycle at the Expresso studio at 5.30 a.m. every morning. ‘We broadcast live every morning from a penthouse apartment in Sea Point, which has panoramic views of Table Mountain and the Atlantic Ocean. It really makes me feel like I’m living the dream. A green and Expresso-filled dream!’

What the agents say Willie van den Berg of RE/MAX Jowic says, ‘Centurion lies between Pretoria and Johannesburg and is within easy reach of both cities, which makes it a good area to invest in. There is also a Gautrain station in Centurion so that anyone can get to Sandton or to the airport in 20 minutes. We believe that properties around the station will increase in price by 20% in the near future. RE/MAX Jowic sells between 70 and 90 properties a month in the Centurion area. Centurion is mostly sectional title, and the ratio between sectional title and full title is 70% to 30% respectively. The average house price in Centurion is R1,2-million and the average sectional-title price is R650 000. Property rentals in Centurion are excellent: for a house of R1,25-million you will receive a rental of between R9 500/month and R10 000/month – that’s an 8% return on investment. If you buy a two-bedroom sectional-title property for about R650 000, you will get rent of approximately R5 000/month – an ROI of almost 8% as well. And for a three-bedroom sectional-title unit costing approximately R800 000 you achieve a rental of about R6 000/month, which represents a 7,5% return on investment.’ +27 (0)12 653 8920, remax.co.za

March 2011 | 13

PRIME PROPERTY

Sixth

This tasteful Sea Point apartment tantalises with its expansive sea views, elegant use of bright colours, and effortless style.

Sense

Words Sandy Welch Photographs Jacques de Villiers

PRIME PROPERTY

Opposite The passageway has been dramatically shortened and an accent wall painted turquoise – the perfect backdrop for the family’s photo gallery. Antique oriental panelling has been converted into a door. This page Eclectic design features in the wallpaper in the guest bathroom, while splashes of turquoise and mustard fulfil the homeowner’s desire for bright colours.

March 2011 | 15

PRIME PROPERTY

‘… I love that wherever you look, your vision is stopped by beautiful things.’

16 | March 2011

PRIME PROPERTY

Opposite In the brightly lit open-plan kitchen, the splashback has been sandblasted to pick up on the design of the antique wooden cupboard doors. This page, above The large open-plan living area is complemented by oversized furniture in the lounge, including a 4m couch; the 12-seater dining room table can be seen in the background. Below The main en-suite bathroom with its oval freestanding bath and raised shower and toilet is separated from the bedroom by lightly sandblasted glass doors, ensuring there is an even flow of light between the rooms.

March 2011 | 17

PRIME PROPERTY

The incredible sea views can be taken in from every room in the apartment – even when you are lying in bed.

he sea. That’s the first thing you notice when you walk into this spacious sixth-floor apartment. It stretches out in front of you, around you, below you, from almost every angle. It’s a sight so overpowering it would be a challenge for any interior designer’s work to compete with it – but then, after more than 20 years in the business, Sharon Sager and her team are always up for a challenge. Their solution was not to fight with the incredible vistas, but to make them the key component of the apartment and to allow everything else to work around them. ‘We wanted to make sure that every angle in each room is directed towards the sea view,’ Sharon explains. This became the responsibility of the senior designer at Sager and Associates, Mikha Notwala, and it was no small task.The apartment required major renovations, such as enclosing the balcony, knocking down various internal walls to rid the home of its old-fashioned, elongated passageway and poky rooms, and installing bulkheads to give form and depth. The result is a clever flow of home that allows light in everywhere, from the entrance through to the open-plan living spaces, the kitchen and the bedrooms. An important element of the brief was that there needed to be ample room for entertaining. ‘The couple have people over a lot, and we had to make sure this was accommodated,’ says Sharon. To this end, the living area flows from a sizeable dining area

housing a 12-seater dining table through to a large lounge with a library, flat-screen TV and home theatre area to one side, and a small dining area, where the couple have breakfast, to the front. Two beautiful white leather loungers are strategically placed in front of a window in the corner so that its occupants have totally unobstructed vistas of the ocean. Each zone can operate as a separate individual space or work together with the rest to form a communal area – ideal if there are lots of visitors. To complement the vast canvas of the living space, Sharon has chosen bulky, oversized furniture. ‘I needed to ensure all the proportions are exaggerated because of the size of the room,’ she explains. ‘To me, lighting and proportion are the be-all and end-all.’ A 4m-long couch, large wingback chairs and a jumbo ottoman make up the lounge, while a large and dark built-in wooden cabinet dominates the wall in the TV area. The homeowners, who frequently travel to India, Dubai and central Africa, wanted intense, jewel-like colours to reflect prominently, and to this end Sharon abandoned her usual leaning towards a neutral palette. Instead, she’s introduced bright splashes at surprising intervals. One of the walls in the passage is teal blue, for example, and this flows through to the glass splashback in the guest shower. A rainbow- streaked carpet runs down the passage, and the massive couch in the lounge is cerulean blue.

In the guest bedrooms, bright throws and headboards dominate. The master bedroom features a fuchsia headboard, and bright floral and striped fabrics are to be seen throughout the home. Apartment living demands smart usage of space, and Sharon has considered this carefully, while ensuring that the storage solutions are never obtrusive. In most cases, cupboards have been built into walls to look like wood panelling, and feature opening mechanisms that don’t require handles. The cupboards in the bedrooms all slide open, to maximise space. The washing machine and dryer have been conveniently placed in cupboards in the spare bathroom. But it’s in the detail that Sharon really comes into her own. Antique oriental doors sourced from Gilles Botbyl have been converted into cupboard doors in the kitchen, and another has been made into a sliding door for the guest bathroom. Glass kitchen splashbacks have been sandblasted to reflect the design on these doors. Textured wallpaper in the entertaining area resembles Issey Miyake fabric and has been mirrored in the glass at the entrance to the apartment. A huge marble slab next to the dining area has been adapted to contain cleverly hidden Salton hot trays. ‘I wanted the design to be not only contemporary, but also eclectic,’ Sharon explains, One of the focuses was on creating a contrast to allow more light in, so ample recessed lighting was used to ensure light

flows easily from one room to the next. Nowhere is this more evident than in the main en-suite bathroom. To best utilise the natural light, glass doors have been installed to separate the bathroom from the main bedroom, and these have been sandblasted with the same design as that used in the fabric of the headboard. The freestanding oval bath as well as the interleading raised shower and toilet are all brightly lit by a rose-shaped chandelier and perfectly complemented by the warm marble walls and floor. When it comes to high-tech home comfort, nothing has been overlooked, from underfloor heating and air conditioning through to a sophisticated security system that videos all visitors to the home, and the latest in home entertainment systems with recessed speakers. No challenge was too small for Sager and Associates – including having to get the huge marble slab and various items of furniture lifted up to the residence by crane. What’s Sharon’s favourite aspect of the apartment? ‘I think the living spaces look so beautiful, and the kitchen works so exquisitely with them. I love that wherever you look, your vision is stopped by beautiful things,’ she says. It’s an apartment that delights every one of your senses, from the delicious aroma of the sea breeze and the sounds of the crashing waves through to the tactile fabrics, vibrant colours, attention-grabbing artworks, and of course, that awe-inspiring view.

With thanks to …

Visit thepropertymag.co.za for a look at other

Sager and Associates, Sharon Sager, +27 (0)21 465 4095, sager-associates.com

extraordinary homes across the country.

18 | March 2011

Worldâ&#x20AC;&#x2122;s Greenest Homes High style - low impact From temples of glass and steel, to palaces made from prssed earth and recycled blue jeans, Worldâ&#x20AC;&#x2122;s Greenest Homes 2 tours the most amazing properties on the planet - and proves that luxury and ecology can exist under the same roof. s -ON PM s 7ED AM s 3AT PM s 3UN PM PM PM

Functions for Africa DĂŠcor

Functions for Africa prides itself on its professionalism, service excellence and creative and unique dĂŠcor. We have coordinated many successful themed functions, creating the draping, ďŹ&#x201A;oral arrangements, plant features, backdrops, furniture and lighting.

Catering and Bar Facilities

We work with a number of reputable catering companies that offer a wide selection of catering options to suit your speciďŹ c budget and needs.

Hiring

We have negotiated competitive rates for marquees and all equipment needed.

Service Staff, Hostesses and Bar Staff

Functions for Africa can supply friendly, efďŹ cient service staff suitably dressed for the occasion. Menus are created for corporate as well as individual tastes, and range from boardroom lunches, cocktails and exquisite buffets to three-course plated menus and themed menus.

Entertainers

We can recommend a number of entertainment options to compliment your function or event.

Venue Sourcing

Let us ďŹ nd the most suitable venue for your function.

We are your one-stop shop! â&#x20AC;˘ â&#x20AC;˘ â&#x20AC;˘ â&#x20AC;˘ â&#x20AC;˘

Top-quality draping Exclusive designer linen Modern furniture Creative and unique ďŹ&#x201A;oral arrangements and centrepieces Stunning lighting features

Tel (031) 205 2211 | Fax (031) 205 4301 | Mobile number 071 680 5787 | Email cutabove@mweb.co.za | www.functionsforafrica.co.za

SUBSCRIPTION

SPECIAL SUBSCRIPTION OFFER Pyroper t r ty e p o r P y rt e op r P

GET ACTIVE

11 0 0 3

22 23 24 25 26 27 28 29 30 313232 33

0860 100 203

Enjoy the last days of summer at our top spots

m ea Dr

FREE!

Clarkson for president

34 35 36 37 38 39 40Are 41 42 43beheadings 44 45 46 47 48 49and 50 51 52executions 53 54 55 56 57 58 59 fitting 60 61 62punishments 63 64 65 66 67 68 69 70 71 72for traffic 73 74 75 76offences? 77 78 79 80 81 82 83 84 85 PLUS! The Top Gear Festival powered by BP Ultimate comes to Kyalami

86 87 88 89 90 91 92 93 94 95 96 97 98 99

nd: Whe re

4690 04 10 9 7718

Tax)\ Vat) e: 5 (inclR21.90 (excl Villag , R34.9 RSA r countries rmen’s 483 9496 Othe ezandt Fishe (0)82 Lang n Roodt, +27 a Joha zandt.co.z 3 lange 11 0 0

corporat e and co untry co u llide

PROPERTY MAGAZINE fo r six month and pay ONLs Y

R195!

(Foreign subs call +27 21 530 3143)

SUBSCRIPTION FORM I would like a six-month subscription to: Please send me my:

Visit the website magsathome.co.za or send an email to subs@ramsaymedia.co.za

KwaZulu-Natal (please tick)

Postal Address: ___________________________________________________________________________________________________ ________________________________________________________________________________ Postal Code: ____________________ Phone: (w) ______________________________ (h) ______________________________

___________________________________________________________________________________________________

Method of Payment: (Payment for subscription is by one of three methods given below.) 1. Debit Order: Please debit my bank account on the: (please tick)

SMS the word ‘Property’ to 34419 and we’ll call you right back! (R2 an SMS)

Gauteng

Five issues of The Property Magazine free (please tick)

Personal Subscription: Title: ________ First Name: __________________________ Surname: _________________________________

Email Address:

Western Cape

Six issues of Sandton free OR

01st

15th

2. Credit Card: Please debit my: (please tick) American Express

MasterCard

3. Electronic Transfer: Visa

25th day of the month

Bank: Nedbank Card number:

Branch: Business Southern Peninsula

Bank: ______________________________ Branch Code or Name: _______________

Code: 12 32 09 00 Expiry date:

CVC No.:

Account Number: ___________________

Cheque Acc. No.: 123 207 3059 Fax proof of payment to: 086 670 4101

Signature: Signature:

Name: RamsayMedia

____________ Date: ___________

____________ Date: _______

Please renew my subscription automatically at the end of the period.

If you are a Discovery Vitality member you can save as much as 50% off the cover price (R210 for 12 months). Visit Vitality Mall at vitalitymall.co.za to take advantage of this offer.**

* Offer ends on 31 March 2011. Terms and conditions apply. ** Competition not open to Discovery Vitality members.

20 | March 2011

SUBSCRIB nt TO THE E

Subscription is R195 for six months. Offer ends 31 March 2011. Terms and conditions apply.

Complete the coupon and post to: Subscription Department, The Property Magazine, RamsayMedia, PO Box 596, Howard Place, 7450

9 771997 750605

Call today and quote ‘Free Issues’ THERE’S MORE THAN ONE WAY TO SUBSCRIBE!

DINING

glam looks to keep you moving

R29.95 incl vat

✚

e llid co try un

R he is ons • Mid ITO yatio : W rin nddepst et ED TE T, ran oo ro neymid ST TA IT ITT m ho • M ue p UE ES VER ER Drea ns biq io ROOM SERVICEGREALRY E AS EVNAL t m a za stin Mo THE hotel hotlist BER CH TIO e d y A O on Wh CE ERN mo T ey IN AL FRESCO on

A fab idea or a passing fad?

PARAGO N ARCH TAKE ITECTS ON TH E WOR LD

o TS dc collide ITEC an CH untry ARDr eamRho d cou te O LD neymoo ora p GON ate an PARA N THE W rnpde u corpor O co hestinations Where re n t TAKE rand: • Midra

tips to keep you on trend

SURROGACY

LOOKING FOR INFORMATION ABOUT PROPERTY IN THE REST OF THE COUNTRY? OUR GAUTENG AND WESTERN CAPE EDITIONS CARRY REGION-SPECIFIC STORIES, SO SUBSCRIBE TO THEM AS WELL!

debate

9 77181 1 70000 7

THE TOP GEAR FESTIVAL

lifestyle complete.

The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue

living

WIN! TICKETS TO

The Property Magazine, South Africa’s favourite reads, featuring all things desired to make your

N N LIeSS IN ISSO G’s B R lag E il D V B hermen PAY RA OnVgezEaR ST ndt Fis La B APA YLISH Eclectic livRTMEN T ing in Se a Poi

t firs n’s dto| d e c o r San RK

October 2016 September 2016 August 2016 July 2016 June 2016 May 2016 April 2016 March 2016 February 2016 January 2016 December 2015 November 2015 October 2015 September 2015 August 2015

May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012

trends

July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 November 2014 October 2014 September 2014 August 2014 July 2014

April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011

The Sporting Issue The Sporting Issue THE HOT TOPICS ISSUE The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue The Sporting Issue

March 2011 February 2011 MARCH 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010

fashion scenes in SA’s most vibrant business, arts and entertainment hub.

Jo’burg style

June 2014 May 2014 April 2014 March 2014 February 2014 January 2014 December 2013 November 2013 October 2013 September 2013 August 2013 July 2013 June 2013

magazine, our sister publication, keeps you up to date with what’s happening on the social and

100

products and properties in South Africa like no other lifestyle publication can. And Sandton

(excl Tax)\

LD OR IGN 0 WOREMARCH ? 2011 01 E 2 ED F SA H IN S T ELP NT HA P H ME T CU ES V IN

established 2008

sectors. With our fresh new look and bold, outsize format, we continue to showcase the ﬁnest

KWAZ ULU-NA TAL

GUEST EDITOR REAL ESTATE BERR CEO CH Y EVERITT, AS EV ERITT INTERN ATIONA L

H RC MA

11 20

Est. 200 4, Issue 219 decor, trends, luxury , design & real estate

E S BIQU CT D ZAM HAS TH Y MO N THE UP ITE L E 2010 WH IS O CH WORCUP WOR RTY HELPEDOPE LD AR PR FORE N THE INVEST O LD IG R N ME G NT IN WO RAN ON SA? 2010 RA EIG KE THE HAS ELPED FO P T?A H T IN SA CUP TMEN INVES TE TA ES S REAL ITOR CEO CHA T ED GUES EVERITT, TIONAL A Y BERR T INTERN IT ER EV

in-depth articles about issues that matter and proﬁles on celebrities in the property and lifestyle

rds wa ga hin blis pu

ign es ,d ry ards xu hing aw , lu 9 publis ds er of en Winn r, tr co e d

217

Est. 20 CAPE TERN WES

ate real est sign & ury, de nds, lux r, tre deco Winner of 9 pub lishing awards

RSA R34.95 Other countr(incl Vat) ies R21.90

9 of er inn W

more than real estate – we also bring you the latest in decor, trends, luxury and design, as well as

Subscribe now for six months and make sure you never miss an issue of Sandton or

H 2011 MARC

MARCH 2011

x) l Ta t) (exc Va 0 cl 1.9 n n 5 (ines R2ndto 3 4.9 tri Sa , ndto 00 R3 un 00 A co Hotel3 10 tel-sa 11 RS her 30 ho Ot rk Inn)11 m/ Pa 7 (0 .co +2 rkinn pa

If you’re a regular reader of The Property Magazine, you already know that we’re about so much

ue 04, Iss

18 e2

Issu G EN te UT al esta GA & re

4, 00 .2 Est

11 0 0 3

Take out a six-month subscription to The Property Magazine in March and receive six issues of Sandton FREE or a further five issues of The Property Magazine FREE!

The NEIGHBOURHOOD

The midway mark Bucolic countryside on the one hand, bustling corporate hub on the other, Midrand is as diverse as it is sprawling. And with a number of new developments planned for the near future, its multifaceted character is set to expand further still. Words Lisa Witepski Photographs Paul Shiakallis

This page The Castle Kyalami boutique hotel, one of Johannesburgâ&#x20AC;&#x2122;s more eccentric landmarks, is a fine-dining, conferencing and wedding venue.

March2011 | 21

the NEIGHBOURHOOD

he first inhabitants of the area that would later become Midrand were iron smelters attracted to the region by the Jukskei River, according to Nadia Hurter, Midrand Manager for Seeff Sandton. Much later it became a midway point for travellers between Johannesburg and Pretoria and became known as Halfway House. It was only in 1981, when Halfway House was merged with Olifantsfontein, that the area officially became a town and was renamed Midrand.‘Midrand has since been incorporated into the Johannesburg City Council, but maintains its name and status as a separate city,’ Nadia says. It also retains a unique atmosphere. Drive past the New Road or Allandale turn-offs on the N1, and you’d be forgiven for thinking that this is a centre dedicated to commerce and money-making. After all, clustered around the spaghetti-like intersections that distinguish this area as an important highway landmark are the offices of such prestigious multinationals as Siemens, Neotel, BMW and Vodacom. However, it would be entirely incorrect to conclude from this single slice of real estate that Midrand is a mini city. It is, as Brian Hickson of Jawitz Properties points out, a ‘largely undefined and amorphous hub’, starfishing between Centurion, Sandton, Kempton Park and Kyalami. So large an area inevitably encompasses a significant number of suburbs: to the east there’s Glen Austin and President Park, southwards there’s Kyalami Glen,Waterfall Estate and Waterfall Equestrian Estate, to the north you’ll find Samrand, Blue Valley Golf and Country Estate, Beaulieu and Randjesfontein, and to the west, Glenferness and others. Naturally enough, each of these suburbs has its own character. ‘The area that was first known as Midrand – Halfway House and Halfway Gardens – is fairly high density. Although these have residential parts, they also started to attract corporate and commercial entities when Jo’burg’s CBD lost

22 | March 2011

its lustre. Besides offering a convenient location, the area provided a more affordable option than the Sandton CBD,’ says Brian. But much of Midrand swings to the other side of the spectrum: areas like Beaulieu, Kyalami and Glenferness remain zoned for agriculture, and could easily serve as the setting for a Jilly Cooper novel. Nadia says, ‘Part of Midrand’s appeal is that it has a calm, rural atmosphere while still offering proximity to the business hubs of Gauteng. Moreover, the newer properties provide sleek, modern living, often in complexes that have the added benefits of security in an enclosed community. The older residential settings of V orna Valley and Noordwyk have a sedate, relaxed feel to them, while the apartment blocks closer

to the business hub are vibrant and eclectic.’ Nadia’s assertion that the city ‘has something for everyone’ is borne out by its diverse buyers and investors. ‘Many of those who work in the multinationals based in Midrand choose to live here, too. The upmarket gated communities have attracted wellto-do, young, up-and-coming professionals who enjoy the lock-up-and-go lifestyle,’ Nadia says. ‘A large Indian community has settled in the area – mostly young couples purchasing in the middle of the market – and there’s a shopping mall dedicated to Indian culture and culinary tastes,’ Nadia adds. ‘There has also been an influx of black buyers and young people looking at properties across all price ranges, eager to be close to work opportunities.

The NEIGHBOURHOOD Midrand’s diverse properties have made for a very dense, varied population.’ If the properties aren’t homogeneous, neither are their prices. Nadia reveals that it’s possible to buy a one-bedroom or bachelor apartment for as little as R350 000, while some townhouse complexes start from R550 000. Brian maintains that larger apartments, measuring around 100m², in suburbs like Carlswald and Halfway Gardens, are a little more expensive because of their proximity to shopping centres and other conveniences, so you can expect to pay around R1- million. Freestanding homes are also modestly priced, from R850 000. Prices are a little higher for cluster developments: although some start at R750 000, a three-bedroom, two- bathroom property in a secure, gated development could cost anything between R1,2-million and R2,5-million. The next step up is estate living, encapsulated by the ever- popular Kyalami Estate. Here, prices range from R2,5- million to R8-million, says Brian, adding that the higher end of the market includes large family homes with big gardens. ‘Security is, of course, the major attraction at Kyalami Estate,’ he observes. ‘Such is the demand for its safe environment that what started out as an affordable development has become very upmarket, and many of the homes have been upgraded, while others still are currently undergoing refurbishment.’ Then, for the jodhpur and vegetable garden set, there are the agricultural estates, such as Saddlebrook and Blue Hills, as well as the plots of Beaulieu, where a 1ha property may set you back anything from R4-million to R20-million. What about rentals? ‘Midrand remains a lower- to upper- middle-class rental area, and is popular with tenants who work in Johannesburg, Pretoria and Midrand itself,’ answers Seeff ’s Alisha Paterson. ‘Apartments can be leased from R3 500/month, while townhouses can be found in the R6 000 to R9 000 bracket.Houses in the suburbs fetch between R8 000 and R15 000, and then there are the security estates, presenting beautiful family homes priced from R15 000 to R25 000.’These prices have remained fairly steady, even during

the recession and have contributed to Midrand’s reputation for offering consistent value for money, Nadia reports. ‘Since buyers have such a large range of properties and price brackets to choose from, sellers who overprice their homes cannot expect to sell,’ she notes. ‘As a result, prices have remained realistic and, in our experience, serious sellers are pricing right.’ Value for money isn’t the only advantage of settling in Midrand, she continues. For the corporate investor, there are the obvious factors that have driven growth in the past, including visibility, space and easy access. These very characteristics have made Midrand a favourite among function planners, conference and exhibition organisers, and it includes some of the country’s premium meeting facilities. Chief among these is, of course, Gallagher Estate, the erstwhile home of the Pan African Parliament, which continues to draw such prestigious events as Decorex. Midrand’s centrality is a major plus for residents, too, especially given the area’s situation smack-bang between Johannesburg and Pretoria, with efficient access granted by the N1 Highway and main roads through Kyalami and Sunninghill. Lifestyle needs are catered for with shopping centres at Carlswald, Crowthorne, San Ridge and The Boulders, while religious services for many dominations are provided for in the nearby Russian Church, the Midrand Islamic Society and St Saviour’s Anglican Church, which, Nadia relates, was moved in 1983, brick by brick, from its location in KwaZulu-Natal, where it was built in the 1860s. From a recreation point of view, Midrand’s semi-rural setting makes for some interesting, natural excursions: key destinations include the Lory Park Zoo, home to one of the largest collections of exotic birds in South Africa, as well as the Glen Austin Bird Park Sanctuary. Moreover, if your garden is looking sparse or you’re searching for a rare orchid, this is the place to go shopping: the proliferation of nurseries in the area makes it a haven for Keith Kirsten wannabes. There’s also unusual family entertainment on offer, in the

form of the dancing Lipizzaner horses, as well as Richard Loring’s Theatre on the Track. But, if these pursuits are all too sedate and you need a change of pace, head to the Kyalami Racetrack. In spite of this range of amenities, Brian believes that Kyalami would benefit significantly from improved infrastructure. ‘The reality is that just 15 years ago this was the fastest-growing area in the country – yet development did not keep pace. Crime became an issue, the roads weren’t able to cope with volumes, and although there are some good private schools in the area, there aren’t enough public institutions – or shopping centres and hospitals, for that matter – to feed the number of people who live here.’ Consider that residents in the mood to watch a blockbuster on the big screen or experience fine dining need to visit Fourways or Sunninghill. But, he’s quick to add, this is about to change. With Midrand pinpointed as a major station on the Gautrain service route, Brian predicts that the area is poised to experience a rebirth. ‘It will become easier than ever to commute to the major centres, and doubtless many potential buyers will hasten to take advantage of properties that will remain more affordable than anything that Sandton or Rosebank has to offer.’ A second spin-off is that, with Midrand well on its way to becoming a significant centre in its own right, the municipality will be inspired to address challenges such as cleaning up the CBD, he adds. In fact, says Nadia, since 1983, several billions have been invested with this end in sight. There are other developments that will add to the future desirability of the area, Brian continues: Waterfall City, which will feature its own hospital, pre-primary, primary and secondary schools, along with a hotel, retail and office precincts, conference centre, gym and several lifestyle estates, is well on its way to becoming a sought-after address. The planned Zonk’Izizwe development, comprising entertainment, official and residential space, and it is rumoured to become one of the biggest nodes within the southern hemisphere.

‘Midrand is well on its way to becoming a significant centre in its own right.’

Left to right The Russian Orthodox Church – people of several religions feel at home in multicultural Midrand; a balance still exists between urban development and countryside tracts in the Midrand area.

With thanks to … Visit thepropertymag.co.za for more information

Jawitz Properties, Brian Hickson, +27 (0)11 466 0966, jawitz.co.za

on the top neighbourhoods in South Africa.

Seeff Sandton, Nadia Hurter and Alisha Paterson, +27 (0)11 784 1222, seeff.com

March2011 | 23

INSIGHT

Big money

or ‘feel good’ sentiment? The 2010 Fifa World Cup cost at least R30-billion to stage. Have foreign investors flocked to our shores since? Words Gareth Stokes

Cala-bashing – The FNB Stadium within the Soccer City Complex in Johannesburg. It was renamed Soccer City Stadium for the duration of the 2010 Fifa World Cup. The stadium was designed to resemble a giant calabash and cost R3,3-billion to build.

24 | March 2011

INSIGHT

Photographs 123rf.com

outh Africa was in rapture when Fifa President Sepp Blatter announced on 15 May 2004 that we would be hosting Africa’s first-ever Soccer World Cup. The decision triggered an unprecedented countrywide infrastructure overhaul as we geared up to welcome 32 national teams and thousands of football supporters from across the globe. The government poured billions of rand into football stadiums, airport upgrades and road and rail infrastructure, to make sure the event went off without a hitch. And they deployed thousands of additional law enforcement officers to ensure an incident-free tournament. The event proceeded smoothly, prompting the usually fickle Sepp to award South Africa 9 out of 10 points for its hosting efforts. Nine months on, with the event largely forgotten, economists are trying to work out whether the R30-billion ‘bill’ represented money well spent. Nobody disputes the ongoing benefit to the country from the Bus Rapid Transport system, the Gautrain and other public transport solutions. And tourists and visiting businessmen will marvel at the country’s world-class airport terminals for decades to come. So the only infrastructure white elephant we have to deal with is the handful of one-event-only stadiums now littering our post-2010 landscape. Those who narrowly focus on the pluses and minuses linked to specific infrastructure projects are missing the point. The World Cup was about much more than rands and cents. It lifted South Africa onto the international stage and helped to destroy the many preconceptions educated Westerners held about the African continent. They’ve finally adjusted their ‘just bush’ assessment of our country to ‘high tech with high-tech capabilities’. Hosting the event was akin to lighting a massive billboard exclaiming, ‘Hello! Take a look down here. We’re South Africa, and we’re open for business!’ In the months following the tournament, both South Africa and Africa emerged as central themes at numerous global events and conferences.The continent featured at the Fortune Global Forum in New York City in June 2010 and at the World Affairs Council conference held in Atlanta in July.

By hosting an event of this magnitude, South Africa has helped Africa to come of age. Maria Ramos, group chief executive of ABSA Group Banks, sums it up: ‘We need to get away from this idea that Africa is about aid and health. Europeans and Americans need to start changing their minds [and assist us in] unlocking economic value and entrepreneurship on the continent.’ We’ve already enjoyed the short-term benefits of the event. The tournament added 0,5% to our GDP number through 2010 as tourists spent on retail, food, entertainment and accommodation before, during and after the event. A survey conducted jointly by the National Department of Tourism and South African Tourism concludes there were 309 000 event-specific tourists who spent in the region of R3,6-billion during their stay here. Overall visitor numbers swelled nicely too. From January to September 2010, South Africa welcomed 5 944 568 tourists, up from 5 087 634 in the first nine months of 2009. ‘The tournament has positioned South Africa as a viable investment market and the spin-offs of improved perceptions abroad could have a longlasting impact not only on South Africa and its development, but on the continent as a whole,’ says Minister of Tourism Marthinus van Schalkwyk. He’s talking about the long-term dream for massive and sustainable foreign direct investment (FDI) to South Africa. Danny Jordaan, chief executive officer of the country’s World Cup Organising Committee shares this sentiment: ‘It is exciting to see that business leaders around the world wish to leverage off the tournament.’ Although the ‘Gateway to Africa’ tag preceded the World Cup by many years, there’s no doubt the event generated additional interest in the continent. Suddenly, the likes of US retail giant, Walmart, and global banking brand, HSBC, were on the hunt in our territory, ready to put their shareholders’ money to work. Has the event led to the avalanche of FDI we’d hoped for? A superficial look at the latest South African Reserve Bank quarterly bulletin suggests things are looking up. Capital flows topped R98,7-billion to 30 September 2010 – in addition to the R113,9-billion through 2009. But closer scrutiny proves these numbers disappointing. The bulk of these flows are

March 2011 | 25

INSIGHT

Clockwise from top left Inside FNB Stadium; Cape Town Stadium, Green Point – construction cost: R4,4-billion; Moses Mabhida Stadium, Durban – construction cost: R3,4-billion; Nelson Mandela Bay Stadium, Port Elizabeth – construction cost: R2,05-billion; predictions are clouded as to whether South Africa will see a good return on its investment in building the stadiums for the 2010 Fifa World Cup.

26 | March 2011

Photographs 123rf.com

‘The tournament has positioned South Africa as a viable investment market and the spin-offs of improved perceptions abroad could have a long-lasting impact.’

INSIGHT

portfolio inflows: yield-seeking money channelled directly to the country’s equity and bond markets. Walmart’s decision is similarly guided. The Investec Asset Management equity research team says the recent bid for Massmart highlights Walmart’s search for yield and growth by developed-market investors starved of returns and pessimistic about growth prospects in their home jurisdictions. The World Cup was never going to have a noticeable impact on FDI, which has actually declined in the quarters since. The Reserve Bank says capital inflows for direct- investment purposes dropped from R2,9-billion in the second quarter of 2010 to just R1,1-billion in the third quarter. W hy? Dawie Roodt, chief economist at the Efficient Group, says South Africa’s FDI is inherently low relative to other sub-Saharan economies. He ascribes this phenomenon to the country’s sophisticated financial markets. Let’s say international investors want exposure to the property industry in both Mozambique and South Africa. Their options in Mozambique are limited to investing in physical assets – they’d have to buy an office block in Maputo, for example – whereas their easiest option in South Africa would be to simply purchase shares in one or more of the country’s world-class listed-property companies. It takes many years for an international company to bite the bullet and move into a new market. Chris Hart, an economist at Investment Solutions, reckons Walmart was most likely thinking about investing in Africa even before South Africa was chosen to host the event. ‘It seems to me as if South Africa is showing signs of developed-market maturity, which means potential FDI is being diverted to stock market acquisitions,’ says Chris. He would prefer the likes of Walmart to arrive on South African soil and build up their business from scratch, because brownfield developments offer multiple benefits to emerging economies. There were hopes in the run-up to the tournament that renewed international investor interest would breathe some life into the lacklustre residential real-estate sector. Real-estate professionals wanted to get as much mileage from the ‘free’ marketing as possible. Although difficult to back up statistically, it seems international buyers have remained on the fence since June/July last year. ‘So far all the World Cup did for us was to increase our international exposure,’ says Laurie Wener, MD Western Cape for Pam Golding Properties. ‘There’s been a massive increase in international traffic on our website, which supports this viewpoint. But this interest hasn’t translated into additional sales.’ Why not? Laurie says we shouldn’t ignore the combined impact of a strong rand and a weak global economy on international real-estate investors and speculators. Developed-world investors simply don’t have the stomach for ‘expensive’ offshore property investments right now.

The majority of international visitors to our shores before, during and after the World Cup enjoyed the country’s infrastructure and hospitality. And their experiences could easily guide future offshore property decisions. That said, any decision by a foreigner to purchase in South Africa would only reflect six to eight months later. Potential investors would have to scout their properties, offer on the properties, arrange finance and then wait for the deeds office to do its stuff. We may yet see some activity in the first quarter of this year. It’s unfortunate that the tournament coincided with an extremely depressed global economy. International real-estate companies are more concerned with staying afloat in their respective markets than exploring new opportunities. Y ou can cover the World Cup’s impact on real estate and other direct investment with a blanket comment, provided here by Dawie Roodt: ‘The event definitely turned more eyes towards South Africa. But rather than encourage new investment, the World Cup acted as a catalyst for foreigners who already had their eyes on our markets. The shift to emerging markets got under way well before the RSA-versus-Mexico game on 11 June 2010.’ This change in focus saw an unprecedented US$68- billion (approximately R472-billion) flowing into Africa during 2009. The bulk of this cash came from the United States, with China hot on their heels. And going forward, most analysts expect emerging economies, such as China and India, to dominate the African FDI landscape. South African companies are doing their bit too – almost all of the top 40 listed firms have expanded their African footprint over the past decade. If South Africa wants a larger share of this FDI – the money that contributes to physical assets rather than sheltering temporarily in local financial markets – then we’ve got plenty of work to do. The government has to roll up its sleeves and begin pruning some of its less attractive policies, particularly those centred on labour and taxation. The positive glow from the World Cup soon grows cold when potential investors are faced with rigid business structures, racial quotas, poverty, crime, militant trade unions and repeated wage strikes. ‘The investment we’re attracting at the moment is despite government policy rather than because of it,’ observes Dawie. Property professionals have their work cut out for them too. ‘A year ago at this time, we were all looking forward to the World Cup and its impact with great excitement,’ says Seeff Properties Chairman Samuel Seeff, ‘but there won’t be any underpin from this event through 2011.’ His sentiment is shared by Rael Levitt, chief executive at Auction Alliance, who sums the matter up: ‘The bottom line is that this year we don’t have the World Cup to boost infrastructural spend, tourism, mid-year retail and, most importantly, investor sentiment.’

March 2011 | 27

Passionate by Words Jackie Gray Photographs Brenda Veldtman

DESIGN

Passion, innovation and excellence are the three fundamentals driving Anthony Orelowitz and Henning Rasmuss, the directors and shareholders of Paragon Architects.

aragon Architects has established itself as a serious force locally and internationally. Its footprint includes South Africa, Angola, Ghana, Uganda, Rwanda and Brazil. Included under the Paragon banner are several independently owned and managed businesses: Paragon Interface, Hub Architects and Aspire Architects, through which the group covers all aspects of architecture and design within the commercial, sports, leisure, education and retail sectors. Paragon’s owners, Anthony Orelowitz and Henning Rasmuss, both caught the architectural bug early. Anthony recalls how, when he was seven years old, he watched the house his parents had commissioned ‘grow’ out of the ground. ‘The architect who designed the house was Mike Challis, who at the time was an up- and-coming director at RFB Consulting Architects. It was a magical experience to see this structure taking shape. Suffice to say I was hooked on architecture from then on. ‘When I was older, Mike gave me vacation jobs throughout my high-school years. I don’t think I added a day’s value to RFB, but Mike recognised my passion for the craft and took me under his wing. In those days there was definitely a greater sense of mentorship.’ As a young boy, Henning would accompany his father on his Saturday morning run into downtown Johannesburg. At the time, a number of tower blocks were being constructed. Corrugated sheet fences encircled these buildings and it was through holes in these fences that Henning would stare, entranced by the busy worksite, while his father carried out his errands. ‘My father used to say that an architect was the only person who knew what everyone on a building site was doing,’ explains Henning. ‘I liked the thought of that, even though I know that’s not actually the case now. It was this concept that planted the seed of my architectural passion.’ Upon graduating from architecture school, Anthony worked for Stauch Vorster

for a year. He received a good grounding in commercial architecture during this time as well as a wake-up call. ‘The year 1991 was tough for the company,’ Anthony says. ‘One Friday I returned from site to find all the partners had left early, and out of a staff of over 30, only four employees, myself included, had not been retrenched. This event made me realise how tough architecture could be and that if I wanted to mitigate the risks, I needed an additional skill set.The following Monday I applied for an MBA course at the Wits Business School.’ Anthony went on to work for Standard Bank Properties for the better part of three years, where he put his newly gained knowledge into practice. ‘At Standard Bank, I learned about structured finance, how to analyse client and project risk and the drivers which would enable successful property developments. I always intended to go back to architecture, though, so in 1996 I started the architectural practice that was to become Paragon Architects.’ At university, Henning served as an intern at Tasso Hatzifotiadis, an architect who was passionate about architecture and life in general. ‘My days with Tasso began with coffee and prayer,’ he remembers. ‘Tasso’s passion permeated everything he did and it taught me that even the smallest things could bring joy and should be appreciated. He also taught me that architecture was messy and sweaty, and that long nights weren’t restricted to university.’ Henning also worked in Düsseldorf and Berlin for two years during the time of rapid social change and development that followed the fall of the Berlin Wall. In late 1997, after a year of working in Hong Kong, Henning began working with Anthony part-time on some of his projects. They took to each other, and what began as a temporary arrangement became permanent in early 1999, when the pair won a commission in the first phase of Melrose Arch.This triggered the founding of Paragon Architects. Paragon’s rise from that point on has been nothing short of meteoric. Since

Far left Anthony Orelowitz and Henning Rasmuss with a model of Sandton’s paradigm- busting Deneys Reitz Towers. Left and below The unmistakable AFGRI Head Office building in Centurion.

March 2011 | 29

DESIGN

Top left to right Views of Cape Town Stadium. Bottom left to right Sleek, modern lines deﬁne the ABSA Capital building in Sandton. Opposite, top left to right Protea Place; the Tiber Rosebank building on the corner of Jellicoe Avenue and Oxford Road. Bottom The Deneys Reitz Towers gleam in the sunlight. Inset Detail of the glass panels that clad the Deneys Reitz Towers.

2000, the company has completed projects for Boeing, Routledge Modise Evergreens Attorneys, General Motors, Oracle, Motorola, Nashua Kopano, Sun International, Discovery Health, ABSA Capital, T-Systems, Standard Chartered Bank and TBWH, to name a few. Of their past projects, the Deneys Reitz Towers, the Green Point Stadium, the Cliffe Dekker Hofmeyr building and the unmissable AFGRI Head Office in Centurion stand out. In respect of the Deneys Reitz Towers, Paragon was asked to produce an iconic building that would break the mould. Situated in Alice Lane in Sandton, this project proved challenging, as the site was small and came with an 18-storey height limit. Anthony explains, ‘The first thing we did was notionally split the building into two towers. This accentuated the structure’s verticality. Making the southern tower taller further

30 | March 2011

enhanced this aspect. On the north and south facades, three glass types were utilised. The way in which the glass was used made it difficult to distinguish between spandrel and vision areas. On the east and west facades, long, deep, vertical and horizontal glazing strips were used to cut through the aluminium gables. The use of these devices deconstructed the rhythm and scale of the facade and in turn enhanced the iconic nature of the building. All of this had to be achieved while still meeting the building’s very exacting functional requirements and tight budget constraints.’ According to Anthony, one of the building’s greatest design challenges was the integration of the cores and vertical transportation into the shell of the building’s organic form. Introducing a ‘gasket’ into the core allowed the inner facade to move

inwards and outwards without affecting the building’s functionality. The Deneys Reitz project has proved highly successful and has transformed Sandton’s skyline. Although perhaps not the most enjoyable project from a process perspective, Henning and Anthony concur that the R4,2-billion Green Point Stadium was technically exhilarating. ‘The Green Point Stadium project was a baptism of fire,’ remarks Henning. ‘We were directly involved through a joint venture with the design of the roof and facade of this structure, but it was first and foremost an extended exercise in project politics and was conducted in an atmosphere of poisonous public opinion and relentless resistance. It seemed as if nobody wanted the stadium, yet the clock was ticking. Although thoroughly unpleasant in many ways, the stadium presented a huge learning

opportunity, which we grasped with both hands. The site and setting influenced the design to a large extent and forced a certain clarity into the product that is unique among the World Cup stadiums.’ Paragon has more than enough work on its plate to keep the staff there busy for some time. The largest project the company is currently involved with is the new head office for Alexander Forbes. Located opposite the Gautrain station in Sandton, this building covers an area measuring approximately 36 000m2. Other projects include the interior design of their Paragon Interface company, a new call centre for Cell C, private-school projects, a new head office for BBDO Spencer Stuart, a 5 000m2 office and retail node for a below-the-line advertising company, a motor showroom conversion on Katherine Avenue and the refurbishment of the old

DESIGN HENNING: Where do you live? ‘I live in Parktown North in a house that was completed in the same month I was born. It has hardly been touched, apart from some refurbishment on our part.’ Hobbies/sports? ‘Photography used to be a hobby of mine. I have never been of the sporty persuasion.’ Family? ‘I am married to an architect, Philippa Rodseth. We have two children, Natascha and Alexander. They are welcome to become architects when they grow up, so long as they don’t become merchant bankers, as that line of work has fallen into disrepute after the whole Lehman Brothers ﬁasco.’ Favourite

restaurant?

‘Doppio

Zero

Greenside, because it’s kid friendly.’ Anatoli’s in Cape Town is another favourite. Their Turkish delight is unbeatable.’ Favourite getaway? ‘Brazil. Just about any part of it.’ You’re currently reading? ‘The Language of Passion.’ Favourite website? The Cool Hunter [thecoolhunter.net]. ANTHONY: Where do you live? ‘I currently live in an old house in Craighall Park, which I think was partially renovated by Ian Gandini at some stage. Hobbies/sports? mountain

biking.

‘I

waterskiing

However

and

favourite

pastime is cooking and eating.’ Family? ‘I’m married to a psychologist, Zahava Aarons. We have two boys, Saul and Joshua. Unlike Henning, I won’t object to their becoming merchant bankers!’ Favourite restaurant? ‘Nobu.’ Favourite getaway? ‘Churchaven.’ Currently reading? ‘The Big Short; and The Shock of the New.’ Favourite website? ‘YouTube. It allows you to virtually walk through any building on the planet; that’s a wonderful thing.’

Nestlé building for the Innovation Group in Randburg. Before the year is out, Paragon would have tackled an 18 000m2 corporate office project in Sandown, a 36 000m2 office block in Mpumalanga and a 34 000m2 precinct redevelopment in Sandton’s CBD. And that’s just Paragon Architects’ primary business projects. The company’s other divisions are also working flat out on their own assignments. The company is also involved with the design of one of the Brazilian World Cup stadiums and is working on a sculptural tower at Brazil’s airport. According to Henning, Paragon doesn’t ascribe to any particular signature style; rather the company tends to view each new project as an opportunity to improve on the last. Anthony says, ‘Embedded in our design culture is a conscientious effort to push the boundaries of design, knowledge,

sustainability, materials, buildability and efficiency. Importantly, this has to be achieved in the context of yields, rental rates and a very competitive market. ‘In terms of our design style, we try to avoid falling into a specific or definable “signature style”. I hope that when people look at the ABSA Capital building, Oxford Corner, Deneys Reitz and AFGRI that they appreciate the building for its beauty and functionality, but won’t necessarily be able to link any of them to Paragon based on their design.’ Although Paragon shies away from being pigeonholed, Henning and Anthony aren’t averse to listing a few choice elements that characterise their creations.‘Our buildings are generously proportioned and filled with light. They feature dramatic spaces that surprise and leave their mark on your memory. They are

well proportioned and thoroughly detailed. They feature a strong formal presence, are distinctive and not always subtle.’ Paragon wouldn’t be where it is today without having an ear to the ground for SA’s architectural trends and needs. ‘For instance, we are currently investing heavily in software systems and studying green building techniques,’ says Henning ‘This will put us one step ahead of our client’s needs. We are working with our clients and consultants to produce buildings that are better for the environment and healthier to build and use.’ Henning and Anthony are of the opinion that an architectural institutional culture is lacking in South Africa to some extent, with the ‘official’ definition of the country’s architectural needs being driven by a people who, ‘quite frankly, have never practiced beyond incredibly narrow confines’.

Anthony and Henning love what they do, and it shows. ‘Passion is something you discover you either have or you don’t as you go along, and architecture gives you back more than you put into it. At least most of the time,’ says Henning. ‘So you begin to love it and it allows you to unlock the visible world and a whole new world of meaning in turn.’ Anthony has similar sentiments. ‘I have never had to question what I wanted to do with my life,’ he says. ‘Every day of my professional life I grow and learn. I think that architecture is one of the few professions that, if you are conscious about your processes, will enable you to improve incrementally, day by day, week by week. Over the period of a working life, that’s a very powerful process and can lead to a very fulfilling existence.’ +27 (0)11 482 378, paragon.co.za

March 2011 | 31

LUXE LIVING

Honeymoon Bliss The most romantic getaways in South Africa

GET THERE

from Cape Town

Pod

When Wallpaper magazine lists your establishment as a favourite designer hotel a mere six months after its opening, you know you’re doing something right. This was the case with Pod, Camps Bay’s newest luxury boutique hotel. Conceptualised and designed by Greg Wright Architects, and set a stone’s throw away from the famous Camps Bay Strip, Pod is minimalist chic at its most luxurious. Making use of wood, granite and slate, and with a colour palette reflecting the surrounding sea, sand and mountains, this 15-room hotel prides itself on being cool in the most sophisticated way. The notion of ‘cocooning’ is evident everywhere at Pod, where private nooks and interesting enclaves make you feel as if you’re staying in your own private villa, even when the hotel is brimming with guests. Special honeymoon touches include:

• a 70m² Deluxe Suite with sea views, open-plan shower, champagne on tap and slick ﬁnishes • beach service, with staﬀ attending to you and your other half ’s every whim. WHY WE CHOSE IT:

It is possibly Cape Town’s best-kept secret. +27 (0)21 438 8550, pod.co.za

32 | March 2011

Words Andrea Firth, Genevieve Fisher and Sandy Welch

DESIGNER’S DREAM

luxe living 1. THE ROYAL TREATMENT

La Residence

The scene at La Residence, high up on a slope in the Franschhoek Valley, is like a fairy-tale – glass chandeliers from India and glittering gold finishes twinkle at you in the reception area of this Royal Portfolio property. This luxury boutique hotel is opulence at its most eclectic, with artwork, furniture and decor items sourced from every corner of the globe and expertly curated with an undeniably Afro-chic slant by co-owner Liz Biden. So sumptuous are the 11 suites that every one of them could serve as a honeymoon hideaway. The suites are individually themed, from the Armani Suite’s monochrome aesthetic to the colourful and vibrant Nomatemba Suite. Each suite is a treasure chest of glamour, with attention to detail overflowing from every corner: Charlotte Rhys body products, boxes of Twinings tea, bookshelves lined with classics, not to mention the sparkling wine and fruit platters on arrival. The views from the balconies are of sweeping valleys and vineyards. A few of the rooms also look out onto a pond, where a family of ethereal black swans live. The focus is on customised honeymoon experiences, something that Ivanka Trump took advantage of when she chose to honeymoon at La Residence. Upon booking your stay, it is suggested that you let management know about the occasion, as they have various options available. Special honeymoon touches include:

• rose-petal and candle turn-down with bubble bath • for the more adventurous, a return trip by helicopter to the Mount Nelson Hotel in Cape Town for high tea, followed by a ride up the cable car for sunset • dual massage and reflexology treatments in the spa • horse-drawn carriage tours of the town and surrounding vineyards • (by prior arrangement) private dining in the sunken lounge or out among the vineyards. Why we chose it:

You will most probably never see anything like it again, unless you are a celebrity, rock star or of royal ilk. The Roving Ambassador, +27 (0)21 426 0991, therovingambassador.co.za

2. Supreme solitude

Bushmans Kloof Wilderness Reserve & Wellness Retreat

If silence and solitude is your thing, there couldn’t be a better honeymoon choice than this. Set in the rugged foothills of the Cederberg Mountains, it offers just the right doses of romance, luxury and seclusion, in an incredibly beautiful setting. The Riverside

Honeymoon Suite is set in a standalone cottage at the end of the property, providing complete privacy.With a separate lounge, two outdoor patios in front and your own private plunge pool complete with pool loungers at the back of the property, it’s elegant decadence at its very best. Two flat-screen TVs, a bronze bath perfectly positioned next to a door that opens out onto the wilds, an outdoor shower and a massive four-poster king-size bed all add to the opulence. Dine at Makana, the gorgeous outdoor restaurant featuring chef Floris Smith’s amazingly inventive dishes, or have your meals served privately on your suite’s patio. Be sure to take a gentle stroll to view the Bushman art against a spectacular mountain backdrop. You’ll find the opportunity for romance everywhere.

Special honeymoon touches include:

• rose petals strewn over the bed • complimentary sparkling wine • his and hers massage at the spa gazebo • a picnic for two by the dam • Why we chose it: It’s the ultimate solution for a secluded honeymoon where romance reigns and luxury prevails. +27 (0)21 481 1860, bushmanskloof.co.za

3. Treetop Seclusion

The Phantom Forest Eco Reserve

Set deep in the forest overlooking the Knysna estuary, the Phantom Forest Eco Reserve is one of the most picture-perfect honeymoon retreats on the Garden Route. The special experience starts the moment you park your car at the bottom of a steep hill and are transported to the top by bush vehicle. Chattering monkeys greet you from the trees at reception, and it is sometimes hard to work out where the forest ends and the hotel begins, so cleverly have the buildings been designed to blend in with their setting. The Upper Tree Camp suites are perfect for honeymooners. They’re spaced a fair distance apart from each other for the utmost privacy. Floor-to-ceiling glass abounds, maximising the views and bringing the forest inside, and the bathroom has expansive views across the valley. There are two double-ended baths – one outside, so you can enjoy an outdoor soak under the stars, and the other perfectly positioned right by the window. There’s also a daybed where honeymooners can cuddle and enjoy a glass of sparkling wine. Spend your days sun-worshipping at the stylish Moroccan-style Chutzpah pool area, chilling out with a spa treatment, or book the Bubble Barrel and sauna area for a totally private outdoor bath in, yes, a barrel. There are two different dining areas offering al fresco and indoor dining, and the cuisine is exceptional.

3 Special honeymoon touches include:

• a honeymoon gift with sparkling wine, chocolates and card. Why we chose it:

It’s breathtakingly beautiful, wild and spontaneous. A unique experience. +27 (0)44 386 0046, phantomforest.com

4. Beach Bliss

The Last Word Long Beach

The Last Word Long Beach deserves the final say in intimate honeymoon hotels. Tucked away in quaint Kommetjie, this five-star slice of heaven was the winner in the 2010 and 2009 World Travel Awards for SA’s Leading Luxury Beach Hotel. The six-bedroom hotel has unrivalled seafront positioning, providing views that

4 stretch across white beach sands and azure ocean to the lights and mountains of Hout Bay. There’s an in-house chauffeur service to lift guests to restaurants and take them on tailor-made tours of Cape Town. Special honeymoon touches include:

• romantic turn-down with rose petals and surprise dessert • truffles and bespoke bubbly on arrival • complimentary picnic hamper • breakfast in bed or on your private patio or balcony. Why we chose it?

Its intimate personal service makes you feel instantly at ease, and the views will take your breath away. +27 (0)21 794 6561, thelastword.co.za

March 2011 | 33

LUXE LIVING The mammoth Catharina Suite is usually the designated honeymoon suite, and with its plush French-style furniture, king-size bed, separate dressing room, office and balcony, it’s fit for royalty. The pièce de résistance is the bathroom. With its vintage lion’s paw bathtub, chandelier lamps, incense and candles, it’s hard not to feel like a pampered Shakespearean queen. It’s those little extras that make this boutique hotel so special – the white-gloved butlers that tip-toe around, seeing to your every need, the rose petals in the bath and the candlelit dinners on the balcony, savoured to the strains of classical piano drifting over you. Special honeymoon touches include:

• sparkling wine and homemade biscuits on arrival • breakfast in bed. WHY WE CHOSE IT

If there’s a more romantic boutique hotel in the province, we certainly couldn’t find it. +27 (0)12 344 6035, illyria.co.za

GET THERErg

from Jo’bu

FABULOUSLY QUIRKY

Forum Homini

Special honeymoon touches include:

• bed canopy ‘let-down’ and rose petal dusting • champagne, ﬂowers and bride’s gift • in-suite spa treatments. WHY WE CHOSE IT:

Forum Homini is great for honeymoon couples looking for something off the beaten track. +27 (0)11 668 7000, forumhomini.com

34 | March 2011

Words Jackie Gray and Sandy Welch

Located within the Cradle of Humankind, Forum Homini is definitely out of the ordinary.The rooms take the form of 12 luxury caves carved into the landscape.The honeymoon suite is nestled away from the main suites, and has a king-size canopy bed, double outdoor shower and sumptuous bath for two, overlooking the bushveld. A fireplace, stalactite-shaped lights, a Bubble Chair and a love couch add to the appeal. Award-winning restaurant, Roots, is located on the premises, so be sure to enjoy at least one delicious meal here.

luxe living 3. OLD-WORLD LUXURY

Cybele Forest Lodge and Health Spa

Check in and tune out. That’s exactly what you can do as honeymooners at Cybele Forest Lodge and Health Spa, and it couldn’t be easier. Set on some 120ha of forestland, this charming country farmhouse epitomises old- school courtesy and service. The honeymoon suite offers the utmost privacy, and you get to enjoy your own climate-controlled pool, separate lounge area and a bathroom to die for, complete with freestanding bath, fireplace and candles. On request, special honeymoon

touches can include:

• chocolate hydrotherapy spa bath on the night of your arrival, private dinner for two and romantic turn-down with sparkling wine, strawberries and gift • couple’s massage treatment • private picnic lunch at the waterfall. Why we chose it:

It’s the setting that makes this such a desirable venue. And with so many opportunities for intimate moments, it will linger in your memory for years to come. +27 (0)13 764 9500, cybele.co.za

4. Wild and free

Tshukudu Bush Lodge 3 1. Decadence in the city

Melrose Arch Hotel

If contemporary urban funk is your thing, look no further than Melrose Arch Hotel in what is arguably Johannesburg’s hippest lifestyle development. Innovative architecture and outstanding design characterise this hotel at every turn. And, in keeping with this, the penthouse suite offers a honeymoon opportunity that is replete with real style. The suite’s facilities include a walk-in dresser, lounge area, fireplace, patio, outdoor shower, garden, separate guest bathroom, office and kitchenette. It’s decorated in an opulent blend of warm, natural tones, and the luxurious personal touches, including mood- enhancing lighting and luxury baths with candles, make the experience that much more special. Admittedly, having life’s luxuries served up on a silver platter like this makes it difficult to leave. But if you do somehow manage to drag your self away from the suite, be sure to make the hotel’s famous pool area your destination of choice. There you can hang out at the hotel’s extraordinary Pool Bar. The tables and chairs are half submerged in the water, and

4 oversized metal buckets planted with fully grown trees line the seating area. Sip on your favourite drink and even enjoy a meal here as music filters up as if by magic from beneath the surface of the water. Special honeymoon touches include:

• VIP snack tray • romantic candlelit turndown with rose petals scattered on the bed and in the bathroom.

For couples who share a love of the bush, sitting in a sunken bath high up on a hill with sweeping views of the savannah plains of the Pilanesberg National Park around you must sound like a dream honeymoon. And that’s exactly what Tshukudu Bush Lodge has to offer. The lodge consists of no more than six individual, custom-designed chalets built into the rocks, providing you with the ultimate in privacy and luxury. Plush leather sofas, double beds, cascading crystal chandeliers and soft, vibrantly coloured furnishings typify the interiors, and each chalet has its own fireplace and balcony, so they’re perfect for romance in all seasons. Tshukudu is famous for its service and African-inspired cuisine, so come prepared to be spoilt – especially as newly-weds, the staff here always go the extra mile to make sure honeymooners’ stay here is the experience of a lifetime. Special honeymoon touches include:

Why we chose it:

In a nutshell, Melrose Arch is perfect for the cosmopolitan, city-loving couple. +27 (0)11 214 6666, africanpridehotels.com

• champagne on check-in • post-game drive candlelit bubble bath and dinner on private deck.

2. Ultimate romance

Why we chose it:

Romance and opulence combine at this magnificent Pretoria guesthouse. Set among beautiful gardens overlooking the Jacaranda City, Illyria House is classy, elegant and extravagant – exactly what honeymooners need to make them feel special.

Intimacy, luxury and bushveld. Need we say more? +27 (0)14 552 6255, tshukudu.co.za

Illyria House

March 2011 | 35

LUXE LIVING

GET THEREan

from Durb

CITY SENSATION

The Oyster Box

The Oyster Box as urban? Why not? It’s this five-star Red Carnation hotel’s extraordinary good fortune to be right in the heart of Umhlanga – KZN’s residential and commercial hotspot – as well as on the prestigious north coastline … complete with landmark lighthouse. The setting is sensational, with sweeping views north and south, direct beach access, and it’s just down the road from all the urban action. On honeymoon at the Oyster Box, there’s little reason to leave the hotel precinct. It’s all on tap, from the award-winning, out-of-this world spa with sensational treatments for two, to a deluxe suite with private plunge pool and six fine-dining venues. Anyone for fresh oysters and champagne on the Ocean Terrace as the sun goes down, or dinner at the chef ’s table in the sunken wine cellar? And then there’s the opportunity for popcorn and a cuddle in the back row at the movies – the Oyster box has a 24-seat theatre screening romantic classics.

• rose-petal turn-down • chocolate-dipped strawberries and champagne in your room • couple’s spa treatment in the spa or in their rooms • romantic picnic on the beach • personalised package to make your honeymoon simply unforgettable. WHY WE CHOSE IT:

It’s sheer luxury at every turn, with the indulgence swaying between complete solitude and sublime sociability. +27 (0)31 514 5000, oysterboxhotel.com

36 | March 2011

Words André Fiore and Anne Schauffer

Honeymoon couples will enjoy:

luxe living

1. Delightfully Different

4. Luxuriously wild

Tucked away in the beautiful Kamberg Valley, close to Giant’s Castle Nature Reserve in the Drakensberg, Mouse and Richard Poynton’s five-star lodge has a well-deserved reputation for being a romantic gourmet getaway … with a delightful difference. With only 11 rooms – each lovingly and thematically decorated by Mouse – there’s a great sense of quiet and beauty here. Life comes down to roaring log fires, long strolls in the mountains, and sensational seven-course gourmet dinners prepared and shared by passionate, highly entertaining chef … Richard himself. For food lovers, this is gourmet heaven.

Within this prime 23 000ha Big Five reserve, Phinda has six exclusive, glorious lodges, each with its own charm and character. The intimate Vlei Lodge fringes the reserve’s wetland system along the edge of the rare sand forest, and the six air-conditioned thatched suites – each with private plunge pool, luxurious en-suite facilities, dressing room and perfectly positioned game-viewing deck overlooking the vlei – are cleverly, carefully embedded into those environs. Intimacy and exclusivity form the cornerstone of a stay at Phinda Vlei. Delectable, innovative pan-African cuisine is served on the vast game-viewing decks or in exquisite, remote bush settings (private dining in your suite can be arranged.) You may choose from a vast array of activities on site or off, or simply ignore the world and relax in your private plunge pool and watch the wild world go by. In addition to the twice-daily game drives, Phinda conducts bush walks, canoe trips, boat cruises, horse riding and even night turtle drives (seasonal).

Cleopatra Mountain Farmhouse

&Beyond Phinda Vlei Lodge

3 who’s garnered so many awards for her culinary prowess at Hartford that most have lost count.

Special honeymoon touches include:

• tranquillity, beauty, candlelight and a romantic, soothing setting. Why we chose it:

It’s extraordinarily different. Surrounded by the majesty of the Drakensberg, there are glorious walks, birdlife, serenity and fine, fine food with the most entertaining commentary. You’ll love it. +27 (0)33 267 7243/9900, cleomountain.com

2. Country Charm

Hartford House

Hartford considers luxury to be the journey, not the destination. Spend time with them, and it’s inarguable. Hartford didn’t start out as a boutique hotel – it was a grand homestead alongside a magnificent, world-class stud farm, and evolved into the five-star establishment it is today. Hartford offers loads of colonial history and architecture, an extraordinary new spa, a select range of eternally stylish accommodation to suit every taste, and a gourmet kitchen watched over by the young, exciting executive chef, Jackie Cameron,

Special honeymoon touches include:

• a honeymoon off the beaten track in a charming lakeside suite • sumptuous dining by candlelight at the Chaîne de Rôtisseurs restaurant in the historic dining room or on the rambling colonial veranda. Why we chose it:

It’s luxuriant horse country, picture-postcard stuff, glorious accommodation with your own deck hanging over the lake – and gourmet food fit for kings and queens. The spa, too, is quite exceptional. +27 (0)33 263 2713, hartford.co.za

3. CASUALLY INTIMATE

Thonga Beach Lodge

If you love your beach clean and uncluttered, Thonga’s your remote, unadorned honeymoon ideal … with a little rejuvenation centre for spoiling, of course. Set above a secluded bay, Thonga Beach Lodge is nestled in beautiful coastal dune forest in a World Heritage site, with sweeping views of the beach below. It’s renowned as a great dive site.

4 All 12 spacious, air-conditioned, thatched suites are raised on wooden stilts to ensure no harm comes to the dune soils, while the use of bleached wood, glass and natural materials creates a wonderfully airy feel. Thonga’s intimacy and remoteness entice you to indulge in long leisurely walks on the beach or to enjoy a sundowner cruise on Lake Sibaya.They’ve captured that perfect balance between peace and quiet and things to do. If you’re desperate to call Mum, climb a sand dune – that’s your only chance of cellphone reception. The dining area consists of a large thatched ‘rondavel’ that opens out onto an expansive wooden deck, and most meals are served al fresco.

Special honeymoon touches include:

• the most civilised and romantic bush experience imaginable – so small and so intimate that they can truly tailor the experience to the honeymooner’s needs.

Special honeymoon touches include:

• deep, deep bubble bath against the backdrop of the sea. • dining by candlelight on the beach. Why we chose it:

It’s simple. No formality. It’s all about shorts, tees, costumes and sarongs (or scuba diving, great food and like-minded company if you so choose). Thonga is for those comfortable not taking along that little black number. +27 (0)35 474 1473, isibindiafrica.co.za

Why we chose it:

&Beyond Phinda has justifiably won a slew of accolades for its lodges, and it’s entirely true that on your visit to Phinda, you will feel like royalty. No pomp and ceremony though; it’s all sophistication and sensitivity to your needs and those of the environment. Chances are you’ll fall head over heels in love with this kind of Africa. +27 (0)11 809 4447, andBeyond.com

March 2011 | 37

ASK THE EXPERTS

Foreign property investors are in good hands with these legal top guns.

ground control 38 | March 2011

ASK THE EXPERTS

DA COSTA INC. Annabelle da Costa, Director How does your company assist foreigners looking to invest in SA? More often than not, our overseas clients approach us once they have made the decision to invest in property in SA. They would have already approached a local estate agent to assist them in finding a suitable investment opportunity, and understanding the ins and outs associated therewith. We assist them in vetting the Offer to Purchase (which may be very different to anything they have encountered in their own country) to ensure that their rights are protected. Once appointed as the conveyancers, we then handle the registration of transfer on their behalf. In your experience, what types of people/businesses are looking to invest in the country? The majority of the overseas clients we deal with are purchasing property as a holiday home; alternatively as a place to retire to. What elements work in favour of foreigners looking to invest here and what works against them? Elements that work against foreign investors are: (a) high financing costs; (b) banks not offering bond finance of more than 50%; (c) the high cost of ownership; (d) the taxes payable when you dispose of the asset. Elements that work in foreign investors’ favour include: (a) favourable exchange rates; (b) secure ownership; (c) a wonderful climate all year round.

Photographs Val Adamson Hair and make-up Chelsea Hill +27 (0)31 502 6902 | dacostaattorneys.co.za

March 2011 | 39

ASK THE EXPERTS

MACGREGOR ERASMUS ATTORNEYS

CJ COGAN ATTORNEYS

AMC HUNTER INC.

SMITH TABATA BUCHANAN BOYES

Bhauna Hansjee, Associate (Attorney)

Jo-Anne Cogan, Owner

Siobhan Tamlyn Perrigo, Attorney

Stavros Anthias, Partner

How does your company assist foreigners looking to invest in SA? Over and above the changes to the Companies Act, South Africa has implemented the Broad-based Black Economic Empowerment (BBBEE) Act, which has direct bearing on foreign entities looking to enter the South African economy. As a commercial attorney at Macgregor Erasmus, I deal with both pieces of legislation, amongst others, to provide compliance advice and assistance in the preparation of agreements between commercial entities, and advice and assistance in dealing with contractual disputes and civil claims. In your experience, what types of people/businesses are looking to invest in the country? International companies specialising in information technology and industrial/specialised equipment. What elements work in favour of foreigners looking to invest here and what works against them? Often, those entering the local market bring with them skills and technology not readily available in SA. This gives them considerable buying power and access to largely untapped markets, not only within SA, but in the whole sub-Saharan region. There are challenges to entry in terms of compliance with the BBBEE Act. What is required is a coherent company structure and compliance policies to enable foreigners to take advantage of the investment opportunities in SA.

How does your company assist foreigners looking to invest in SA? We have several years of experience in attending to property transactions on behalf of foreign nationals. A sound knowledge of exchange control regulations and an expert banking support system ensure that transactions are competently dealt with. Electronic links with Sars, local authorities and ﬁnancial institutions facilitate transactions. In your experience, what types of people/business are looking to invest in the country? Given property values and the sublime climate in KZN in particular, traditionally upper-income investors or retiree foreign investors seek prime property with a view to either spending half the year in South Africa or visiting regularly throughout the year. Investors are assertive and have long-term investment motivation and the ﬁnancial power to support their choices. What elements work in favour of foreigners looking to invest here and what works against them? Foreign buyers can only mortgage up to 50% of their investment, though the government has taken steps to encourage investment by not putting restrictions on ownership. We enjoy strongly regulated systems and a highly sophisticated deeds registry. There’s a shortage of property, creating long-term growth potential backed by the strongest economy in Africa.

How does your company assist foreigners looking to invest in SA? As the primary business of our ﬁrm is conveyancing, a large percentage of our dealings with foreign investors in SA is related to property acquisition. In this regard, we assist these investors in becoming familiar with and understanding the various laws applicable to their transaction, so as to ensure that the differences between their domestic laws, procedures and processes, and those of South Africa, can be highlighted. We also assist foreign investors in understanding and applying the relevant exchange control policies and procedures, and refer them to experts in the ﬁeld, including our many banking partners. This assists in ensuring that, in the event of the investment being disposed of at any stage and the client wishes to transfer the proceeds out of SA, they are able to do so. We advise as to the tax implications of the purchase and sale of property, as well as the best-suited legal entity within which to make a purchase. We also warn foreign investors about the limitations that South African banks impose on mortgage grants. In your experience, what types of people/business are looking to invest in this country? Foreigners who have visited the country on holiday or have increasing business ties within SA are making moves towards purchasing property in South Africa.

How does your company assist foreigners looking to invest in SA? We provide a comprehensive, expert legal service pertaining to all aspects of property acquisition within SA, as well as guidance through all the legal requirements. In your experience, what types of people/businesses are looking to invest in the country? We deal with clients from all continents – and not only high-end investors, but also with ordinary folk seeking holiday or investment homes. In addition, there are many expats and returning residents with forex at their disposal who know the good value of property here. What elements work in favour of foreigners looking to invest here and what works against them? Our property still offers good value for money. This, coupled with the rate of exchange, one of the best property registration systems in the world, and a brilliant climate and favourable lifestyle, makes SA very attractive for foreign investors. There are a few downsides to investing here. Some examples might be that the banks will only lend 50% of the purchase price to non-resident buyers. Also, upon resale, capital gains tax (ranging from 10% of the proﬁt for individuals to 20% for corporates) and withholding tax (between 5% and 10%, depending on the selling entity, for a purchase price over R2-million) is payable. Furthermore, the rate of exchange may diminish the proﬁt.

+27 (0)31 201 8955 | bhauna@meattorneys.co.za

+27 (0)32 947 0865 | joanne@cjcogan.co.za

+27 (0)31 309 5483 | amchunter.co.za

+27 (0)31 583 8060 | Stavros@stbbdurban.co.za

40 | March 2011

T ES U G R O IT ED rry Be itt er Ev

Real estate

residential, commercial, property fund, offshore, auction, green building

The Year of the Consumer The year 2011 sees the introduction of two pieces of legislation that will mark a turning point in South Africa’s real-estate industry, as the power shifts back to property buyers and sellers.

Main photograph 123rf.com Profile photograph Zoom Photography

here has been talk for years about the empowerment of real-estate consumers through technology, with the wealth of information and ‘for sale’ listings on the internet making for much better informed – and demanding – property buyers and sellers. However, I think the real-estate industry in SA ain’t seen nothin’ yet when it comes to consumer power, and that a couple of pieces of legislation will mark 2011 as a watershed year in this regard. First up is the new Consumer Protection Act (CPA), which comes into effect in April and has already prompted many real-estate companies to make changes to their sales documentation. The guiding principle of the CPA is that consumers have a right to get what they think they are paying for – whether it’s a hamburger, a haircut or a house – and it basically makes the suppliers of goods and services responsible for ensuring that buyers

understand fully any contract they enter into, and that they have not been subject to any false representation or nondisclosure. There is still some doubt in real-estate and legal circles about how this will affect the use of the voetstoots – or ‘as is’ – clause traditionally inserted into most home sale agreements – and about whether estate agents will be regarded as suppliers or facilitators in terms of the new law. But I don’t think the industry is going to wait for answers to emerge from test court cases. My belief is that the CPA is very quickly going to bring about huge changes in the way properties are bought and sold – including ‘ordinary language’ sales agreements that are easier for consumers to understand, as well as a rapid rise in the use of certified inspectors to provide independent home appraisals, such as those that are a prerequisite for all home purchases in the US and the UK. The other biggie for property consumers this year is the legislation dealing with the

new compulsory qualifications for estate agents. In 2011 we will see the start of a process that ensures that all estate agents have a proper NQF Level 4 or Level 5 qualification by the end of 2013. All those who joined the industry after July 2008 will need such a qualification by the end of this year in order to register with the Estate Agency Affairs Board (EAAB) and obtain a Fidelity Fund Certificate. In SA, this certificate is effectively an agent’s licence to operate and the customer’s guarantee that any money entrusted to the agent is either safe or will be refunded by the EAAB if it is misappropriated. The new estate agent qualifications will hold even greater benefits for consumers, not the least being the right to expect a much higher level of knowledge and a much more professional service from agents. And this, combined with the power conferred by the CPA, will no doubt bring about renewed awareness that the real drivers

of the property market are not inventory levels, interest rates or smart marketing, but homebuyers and sellers themselves.

Berry Everitt, CEO, Chas Everitt International March 2011 | 41

Residential Real Estate

Beachfront Ballito

Scheduled for completion around Easter of 2012, the newly launched @88 on the Ballito beachfront is a development of 12 exclusive apartments offering an executive lifestyle and direct beach access. Selling off plan, these three-bedroom, three-bathroom, sea-facing units offer superb finishes, open-plan living spaces, generously sized patios and air conditioning throughout. Apartments are approximately 165m2 and include two basement parking spaces and the option of purchasing a storeroom.

Steve Corbett Architects designed @88 for seaside living.

The complex will have a pool and clubhouse as well as remote- controlled access. ‘With apartments priced from R3,95-million to R4,5-million, this is an opportunity to own an ideally situated piece of upmarket North Coast property,’ says Lloyd Rees of Tyson Properties Ballito. +27 (0)82 449 3299, tysonprop.co.za

‘Prices in many coastal areas are really competitive at the moment, and the long- term prospects for value growth are sound.’ – Berry Everitt, CEO, Chas Everitt International Property predictions

Buy-to-let looking healthier After a weak performance for most of 2010, it seems as if the buy-to-let market is becoming more attractive, particularly in areas where homes are valued at under R1-million, and in the apartments rental market. FNB Home Loans Strategist John Loos says there is a shortage of supply in the apartment rentals market, which will ultimately result in landlords’ being able to ask for higher rentals. According to figures released by Stats SA, residential rentals grew by an average of 5,6% year-on-year in November. For the first time in five years, estate agents surveyed are also expecting an increase in demand in this segment, and they believe investors will once again start considering this market.

Last month we featured six of the country’s real-estate leaders – Peter Gilmour, Samuel Seeff, Andrew Golding, Berry Everitt, Lew Geffen and Keith Wakefield – to get their views on the state of the industry. Here, two more industry heavyweights share their opinions. Tony Clarke, MD, Rawson Properties: ‘All the evidence today indicates that the big firms that took their branding and ongoing promotion further by every possible means – including modern technology, such as the internet and social media, cellphones and direct mail – are achieving increasing big brands will increase market share and become even more respected. It’s likely that sales will steadily increase because of low interest rates, strong demand at the lower levels and the banks’ gradual easing of credit restrictions.’ Herschel Jawitz, CE, Jawitz Properties: ‘There is no doubt that the industry is far more professional than it was previously. Factors that have driven this improvement are education, greater consumer awareness and increased competition. The most obvious improvement has been the use of technology, as it enables estate agencies to be more efficient in terms of communicating with more clients, and marketing more properties to a wider audience – a win-win situation for everyone.’

42 | March 2011

Compiled by André Fiore and Genevieve Fisher

dominance. There will always be room for the small area specialist, but the

Residential Real Estate

Uvongo opportunity Phase 2 of the spacious, modern Kenmuir Gardens in Uvongo has recently been launched, with 17 new apartments on offer. Comprising two- bedroom, two-bathroom, and three-bedroom, two-bathroom seaside studio apartments (double-storey and private garden options included) the development has cathedral ceilings, open-plan living spaces, granite kitchen counters and stylish wooden flooring. ‘Situated in the Uvongo residential area, close to the beach and shops, this secure complex is pet-friendly, has low levies and is one of the nicest on the South Coast,’ says Pieter van der Merwe of Pam Golding Properties Margate. +27 (0)39 317 3003, pamgoldingproperties.co.za

Ridge residential Launched in January this year, Season’s Court in Meridian Drive, Umhlanga Ridge Town Centre, offers one-, two- and three-bedroom units in an inviting garden setting. Situated diagonally opposite the Porsche Centre, the development comprises 230 apartments, including 83 in Phase 1. With lush landscaping, a swimming pool and spacious leisure areas, Season’s Court is ideally suited to young families, first-time buyers and buy-to-let investors. Nearby amenities include Gateway Theatre of Shopping, the retail and leisure offerings of Umhlanga, the new airport and the surrounding business precinct. ‘Units are priced from R650 000 to just under R1,4-million,’ says Jenny Aitken of Wakefields Estate Agents. +27 (0)31 561 1286, wakefields.co.za

Like hotcakes Just launched, Phase 2 of Point Bastille is a five-storey, canal-side development at Durban Point Waterfront. It offers a mix of studio apartments, double-volume onebedroom loft apartments and two-bedroom, one-bathroom simplexes. Situated on the prime canal site at the Waterfront, the apartments have an upmarket, minimalist, industrial finish – all in white, with floors of white-pigmented plaster, kitchen and bedroom cupboards in dark mahogany and white stone kitchen countertops. This is the only development site within the precinct that allows for construction right up against the canal. Designed by Paton Taylor Architects, the building maximises the site’s unique position by encouraging public interaction in the piazza and the open-air restaurants below. The piazza itself has enormous potential as an outdoor meeting place that will buzz with buskers, retail facilities and waterside cafés; it can become a space where locals and tourists will be able to mingle in a vibrant café-society setting. ‘Priced from R682 000, 32 out of the 44 available units have already been sold,’ says Craig Murphy of PWR Properties. +27 (0)79 871 3838, pwr.co.za

Wild Coast win Recently launched onto the market as a sectional-title development, Tortuga is a completed 30-unit complex within the Caribbean Estates private resort. Bordered by the Indian Ocean and the Umtamvuna River, and just five minutes away from the Wild Coast Sun, this estate offers two- and three- bedroom apartments on the water’s edge. Units range from 115m2 to 137m2, are fully furnished to a high standard and include television, a fully fitted kitchen and laundry, cooking utensils and cutlery. Facilities on the estate include a swimming pool complex, an all-weather floodlit tennis court, a playground and direct access to both beach and river. Boats are welcome. ‘Starting at less than R1-million, and with no transfer fees payable, this is an ideal investment as a permanent residence or holiday home,’ says Stephanie Harries of Wakefields Shelly Beach. +27 (0)79 770 4742, wakefields.co.za

March 2011 | 43

COMMERCIAL Real Estate

Zen zeal The January launch of the 6 000m2 Adcock Ingram Healthcare regional distribution centre and offices marks yet another Zenprop Property Holdings investment in the Riverhorse Valley Business Estate. The new high-tech premises, custom designed to Adcock Ingram’s operational requirements by Jonathan Leibowitz of Empowered Spaces Architects, are fully air conditioned, are compliant with ASIB fire protection regulations, stand 13m high to eaves, and have an FM II floor specification. Zenprop has invested a total of approximately R650-million in Riverhorse Valley in the last five years, including Mr Price Group’s national distribution centre (27 000m2), City Couriers’ distribution centre and offices (12 000m2), AGI’s factory and offices (10 000m2), Schenker’s distribution centre and offices (5 000m2), Parmalat’s distribution centre and offices (5 000m2), Fuel Logistics’ distribution centre (18 000m2), UTi Pharma’s distribution centre (9 000m2), the Midas Group’s distribution centre (11 000m2), the offices of The Witness (3 500m2), Discovery Health’s call centre and offices (6 000m2) and Kevro’s distribution centre and offices (5 000m2). ‘There is a vacant warehouse of approximately 3 700m2 immediately adjacent to the Adcock Ingram premises that is available to let. It has its own dedicated yard and marshalling area and is very competitively priced,’ says Dave Kopp of Tysons.

‘A warehouse of approximately 3 700m2 is available to let.’

+27 (0)11 883 8380, espaces.co.za; +27 (0)31 312 9500, tysonprop.co.za; +27 (0)31 566 4840, zenprop.co.za

Mine innovation A R2,5-billion mine dump processing plant is set to be in operation by 2013 in the North West and Mpumalanga provinces. The new plant is predicted to generate in excess of 400 jobs for the area, will process approximately 1,1-million tons of material from the mine dumps and produce 500 000 tons per year of ‘pig iron’, which is consumed in steel production. State-of-the-art technology will be used to recover residual iron ore from mine dumps that would otherwise have been unprocessable. Donovan Chimhandamba, head of the Strategic Projects Fund at the National Empowerment Fund (NEF), believes that a project of this magnitude is ‘ground-breaking’ and offers an opportunity to be at the forefront of cutting-edge mining innovation, with strong BB-BEE participation at an early stage. ‘We are very excited by this project not only because of its strong commercial merit, but also its high developmental impact and environmental cleaning aspect,’ says Donovan. 086 184 3633, nefcorp.co.za

BRIC work South Africa has been invited to join the BRIC nations, a group of the world’s most promising emerging economies: Brazil, Russia, India and China. Chinese heads- of- state meeting in Beijing in April 2011 for a formal induction. According to the International Monetary Fund, the BRIC nations will account for 61% of global growth in three years’ time. Miller Matola, CEO of the International Marketing Council of SA, says the move is expected to ‘boost investment and trade opportunities for the country, as it has done for the other four states’. Last year both local and foreign investment in South Africa increased, with median property prices reportedly growing by 7,3% and 8,3% in July and August respectively. Investor conﬁdence is predicted to rise by 6% in 2011. Incentives to invest in South Africa include its affordability, attractive climate and beautiful landscape, as well as its strong and growing market +27 (0)11 483 0122, imc.org.za

44 | March 2011

Compiled by André Fiore and Andrea Firth

President Hu Jintao has invited President Jacob Zuma to the BRIC’s third

Commercial Real Estate

Another franchise for Tysons

Green piece

Times are busy at Tyson Property Group as yet another franchise opens in

Things are looking up on the green side of the R250-million Edendale

Phoenix. Praveen Hariparsaad, the newest franchisee to come on board, says

Mega City development, where work on the restoration of the adjacent

he is already busy processing valuations and referrals, and is looking forward to

1,3ha natural wetland has begun. Susan Carter-Brown of Afzelia

making his mark in the area. ‘I will be marketing the Tyson Properties brand to a

Environmental Consultants, who undertook the environmental impact

community where it is virtually unknown, and I believe we will be doing a great

assessment for the developers, says the wetland will form ‘an aesthetically

deal of business in this area.’ The residential areas under the new franchise include

pleasing component of the new mall, where a palette of indigenous fauna

Phoenix, Verulam, Tongaat, La Mercy, Mount Edgecombe, Broadlands, Avoca Hills,

and flora will feature in the wetlands alongside patches of reeds, small

Newlands East and West, Effingham/Avoca and Parlock. All are close to strategic

rock piles and shallow ponds.’ The wetland will also serve as a buffer zone

business, commercial and industrial growth nodes that have evolved along with

that will reduce storm-water flows from the centre, assist in the filtration

the new King Shaka International

of the rainwater and feed naturally into the Msunduzi River. Another

Airport. Phoenix Industrial Park,

Left to right: Chris Tyson, Praveen Hariparsaad

important conservation element of the project was the safe relocation of

Riverhorse Valley and the Dube

the threatened indigenous plants that grow on the site. The plants, including

TradePort are important sources

the African potato, were carefully lifted prior to the earthworks starting.

of investment and employment,

‘These plants are being tended in a temporary nursery and will be replanted

making this a perfect market for

at the mall when the construction work is completed,’ says Susan. Edendale

first-time buyers as well as for

Mega City will provide 26 000m2 of retail space, and is being developed by

those ready to upgrade from the

Ducatus Properties and Tebfin Developments. It is due for completion in the

one- or two-bedroom houses that

fourth quarter of 2011. +27 (0)12 687 4000, tebfin.co.za

were provided by government. Key retail developments, such as the Phoenix Plaza, Bridge City and Gateway Theatre of Shopping, as well as improved infrastructure, schools, sports and religious facilities, provide for other aspects of family life in

‘SA is just brimming with new ideas, new projects and new opportunities.’ – Berry Everitt, CEO, Chas Everitt International

the area. +27 (0)32 533 5459, tysonprop.co.za

Modern talking Set just above the eThekwini Hospital in Riverhorse Valley, the purpose-built Reid Raetzer House opened in January as the insurance brokerage’s new head offices. ‘Our logo, “Since 1969”, speaks volumes for the longevity of relationships we have with our clients, and as these have now been extended to their children and grandchildren, we wanted a building that offered open, welcoming spaces, wide passageways, gathering points where clients and staff can interact, and open-deck entertainment verandas capitalising on the magnificent views of the freeway and Riverhorse Valley East,’ says Michael Grossi of Reid Raetzer. The striking design by Vageli Zervogiannis of Zervogiannis Associate Architects includes all this, as well as an abundance of glass, contemporary steel cladding and highly polished cement floors. ‘While the top two floors are occupied by Reid Raetzer, the beautifully appointed ground floor of 600m2 is available to let at R95/m2,’ says Dave Kopp of Tyson Property Group. +27 (0)31 312 9500, tysonprop.co.za

Hospitality hike The KZN North Coast guest house market has reported record growth in demand in both the corporate and leisure markets over the last nine months, say consultants Corinne Lategan and Ian Bannerman of Pam Golding Lodges & Guest Houses. ‘The bedding down of the new airport, coupled with the development of La Lucia and Umhlanga Ridge office parks, has had an extremely positive impact on hospitality businesses in the areas of Durban North, Umhlanga, Ballito, Salt Rock and Blythdale – all within 15 minutes of King Shaka International Airport,’ says Corinne. A steady influx of corporate travellers in Ballito, Umdloti and Salt Rock is specifically benefitting four- and five-star guest houses. Once the Dube TradePort is fully operational, the business hub is expected to have a domino effect on all subsidiary service-related businesses, including the hospitality industry. ‘The demand for accommodation close to a hub of this size and with such diverse business interests, many of which will have global reach, will create a very good return on investment for hospitality business owners,’ says Ian. +27 (0)31 765 2557, goldinghotels.co.za

March 2011 | 45

Property Fund Real Estate

Stellar performance won’t be repeated Although property stocks remain a great bet for income-chasers, the impressive 30% total return notched up by the sector last year is unlikely to be repeated. Evan Robins, head of listed property at Old Mutual Investment Group SA (OMIGSA), expects a ‘below-average’ year for the sector. He notes operating conditions will remain tough for much of 2011 and market expectations may therefore be too positive. Evan says, ‘Listed property is not a bargain, and we expect that 2011 will be one of below-average returns, with total returns

‘Listed property is not a bargain … ’ – OMIGSA

likely to be in the lower double digits.’ While listed-property prices have increased substantially, Evan points out that direct commercial property prices have not risen to the same extent. This is reflected in muted growth in property companies’ portfolio valuations. As a result, listed property companies are now trading at a historically high premium of around 10% to their direct property valuations. And while property company results held up relatively well for most of 2010, final quarter earnings disappointed. Evan says that while further interest rate cuts remain conceivable, there is a greater chance that bond yields will end 2011 at higher levels, which poses a significant risk to capital growth. Listed- property yields usually rise in tandem with bond yields, and higher yields mean lower prices. If inflation remains low, this will be beneficial in real terms for property owners, as contractual rental escalations are in nominal terms, so property owners benefit when inflation surprises on the downside. This is one reason why Evan expects distribution growth to exceed inflation this year, despite challenging operating conditions. ‘With an 8% forward-yield and medium-term, above-inflation distribution growth, we believe listed-property investors are most likely to achieve lower double-digit returns this year if the bond market is stable. This remains a decent return from a high-yield asset, considering the current low-return, low-inflation environment. It warrants particular consideration from income-dependent investors with some risk tolerance that also require capital growth. But investors should temper their expectations.’

Where to place your bets

Historic Performance for 2010 Individual Stock Performance

Everyone knows that past performance is no guarantee of future

Total return YTD

performance. So while Fortress Income Fund B (65,7%) Vukile

REIT Index

10,46%

Property Fund (47,39%) and Growthpoint Properties (41,77%)

PUT Index

25,50%

were the top performers in terms of total return last year,

PLS Index

30,95%

fund managers don’t necessarily believe that these counters

SA Listed Property Index (SAPY)

29,62%

will again top the property pops in 2011. Ian Anderson, chief

Capped Property Index (PCAP)

24,81%

investment officer of Grindrod Asset Management, is placing his

FORTRESS-B

65,70%

bets on the A units of both Fortress and Hospitality Property

VUKILE

47,39%

Fund. ‘Both appear to be offering value at current prices. Their

GROWTHPOINT

yields are among the highest in the sector and the guaranteed

OCTODEC

distribution growth rates should not be underestimated in the

PREMIUM

current economic climate.’ Ian also believes Redefine Properties

RESILIENT

34,25%

presents a buying opportunity at current share price levels, after

SA CORPORATE

33,30%

Real Estate Fund may finally be able to put its chequered past

Ian Anderson, Chief Investment Officer, Grindrod Asset Management

41,77% 39,11% 35,05%

HYPROP

32,91%

EMIRA

31,67%

CAPITAL PROPERTY

23,87%

‘It offers the highest yield in the sector at 9,25% and is likely to show positive distribution growth during

PANPROP

23,85%

the year.’ Evan Jankelowitz, director of property equity specialists Sesfikile Capital, likes Resilient Property

REDEFINE

22,08%

Income Fund. ‘From a fundamental perspective, Resilient is positioned nicely, with non-metropolitan retail

ACUCAP

22,08%

still showing strong trading densities, despite the recent global crisis. There’s also growth potential in what

HOSPITALITY-A

22,03%

appears to be an accretive development pipeline. However, the price does reflect the opportunity.’ Keillen

FORTRESS-A

Ndlovu, head of property funds at Stanlib, believes that Capital Property Fund and Emira Property Fund,

FOUNTAINHEAD

among others, will outperform in 2011. ‘Capital is trading at a yield similar to the market, yet it offers better

SYCOM

16,27%

growth prospects driven by a superior portfolio and great management. A merger with Pangbourne is

HOSPITALITY-B

-4,73%

another positive – size, liquidity and, hopefully, a better rating.’ Keillen notes that Emira is well priced at a

Information Source and Methodology

forward yield of 8,75% against the market’s 8,3%, with similar growth prospects. The stock has vacancies of

Data I-Net Bridge unless stated otherwise

15% in the office portfolio, creating an upside if the market turns.

Calculations and forecast estimates Catalyst Fund Managers

behind it in 2011 and deliver above-average returns for investors.

46 | March 2011

21,85% 20,67%

Compiled by Joan Muller, FINWEEK Property Editor

a disappointing performance last year. Ian says SA Corporate

(Jan.–Dec. 2010)

PROPERTY FUND Real Estate

‘Lower vacancies in office and industrial properties mean more jobs, which is always the best news for the market.’ – Berry Everitt, CEO, Chas Everitt International

Outlook improves for office-focused funds It appears that the office market is taking a turn for the better, with signs of increased demand for space in some prime nodes, which bodes well for property counters with a large exposure to the sector. A number of property funds, including the likes of Redefine Properties, Growthpoint Properties, Emira Property Fund, Pangbourne Properties and Octodec Investments, have office vacancies approaching or exceeding 10%. Izak Petersen of Mergence Africa Property Fund notes that higher take-up and measured rental growth is starting to come through in select office nodes as the economic recovery gains momentum, slowly but surely. Izak notes the Sapoa/IPD Office Vacancy Survey for fourth quarter 2010 indicates that prime office properties in areas such as Sandton, Cresta and the Johannesburg CBD in Gauteng, and Bellville, the Waterfront and the CBD in Cape Town, are either fully let or have minimal vacancies of around 1%. However, Izak warns there are still risks in the system, such as corporate downsizing and liquidations, which can potentially drive down rentals.

Property shines in top 100 survey In addition to being the best-performing asset class in 2010, listed property also features prominently among South Africa’s top 100 companies. The latter ranks the best-performing companies across all sectors of the JSE. Norbert Sasse, chairman of the Property Loan Stock Association (PLSA) and CEO of Growthpoint Properties, says 15 of the top 50 best-performing companies in terms of ‘proﬁt after tax’, as well as ‘growth over 10 years’ are listed-property companies. Moreover, property stocks represent 13 of the top 100 companies in terms of overall performance over ﬁve years, despite the R127,5-billion listed-property sector still representing less than 4% of the JSE’s total market capitalisation. He says that, given last year’s total return performance of close to 30% and the sector’s strong representation among SA’s best listed

Norbert Sasse, Chairman, Property Loan Stock Association, and CEO, Growthpoint Properties

investments, any serious investor, retail or institutional, should regard meaningful exposure to listed property as an asset class as being fundamental.

Bricks and mortar spin best profits Listed property has beaten all other major asset classes over both the short and longer term, latest ﬁgures from Catalyst Fund Managers show. Over the past 12 months until the end of 2010, listed property delivered a total return of 29,62%, followed by equities as measured by the All-Share Index (18,98%), bonds (14,96%) and cash (6,93%). Looking at a longer investment horizon of ﬁve years, listed property again recorded the highest annualised return of the four traditional asset classes (18,07%), followed by equities (15,24%), cash (9,14%) and bonds (7,92%). Whether listed property will continue to outperform equities is anyone’s guess. However, Catalyst Investment Manager Paul Duncan says listed property remains an attractive alternative to cash and bonds for investors dependent on an income. The key differentiating factor between listed property, and bonds and cash, is that the income paid out on a quarterly or biannual basis by property companies usually grows every year, while the income earned on bonds and cash remains static. Paul notes that property stocks currently offer an average forward yield of just more than 8%, which compares favourably with the 5,34% on overnight cash deposits and the 7,31% yield to maturity on R157 government bonds. Asset Class

2006

2007

2008

2009

2010

Annualised

SA Listed Property

28,4%

26,5%

-4,5%

14,1%

29,6%

18,07%

Equities**

41,2%

19,2%

-23,2%

32,1%

19,0%

15,24%

Cash***

7,5%

9,3%

11,7%

10,3%

6,9%

9,14%

Bonds*

5,5%

4,2%

17,0%

-1,0%

14,96%

7,92%

Source: I-Net Bridge, *BESA All Bond Index, **All-Share Index, ***STEFI 12-Month Cash Index

Offshore Real Estate

Dip your toes

The powder-sand beaches, tropical sunshine, lush greenery and temperate climate of Seychelles are all within your reach at the luxurious, 56ha marina development, Eden Island. The developers are now offering two

‘Property investors have an increasingly global view and are scouring the world markets now for good growth prospects.’ – Berry Everitt, CEO, Chas Everitt International

free-flowing, four-bedroom, ocean-front villas with occupation available in August 2011. Each priced at $2,495-million (R17,6- million), including notary and residency fees, the homes come fully furnished to designer standards, from deluxe four-poster beds to well- appointed living areas with all the creature comforts, such as luxury Miele appliances in the kitchens. Each home has a veranda that opens out onto the pool, as well as a private outdoor staircase leading into the turquoise ocean below. There is air conditioning throughout the homes, as well as private moorings with water and electrical points for residents’ boats. Eden Island offers homeowners exclusive facilities, including the use of the fitness centre, a delicatessen, clubhouse, kids’ play area, communal pools, and tennis and volleyball courts. +27 (0)82 882 8996, edenisland.sc

Eden Island ha four beaches ands 16ha of private waterways.

A French vintage Heritage Properties of Europe specialises in sourcing prime properties and wine estates in the south of France for South African investors. They have on their books a restored 19th-century château with two towers and 730m2 of habitable space. The property is set in the Bordeaux countryside within a beautiful, 23ha park. Priced at ¤2,899-million (R27,5-million), the main house includes grand reception rooms, eight en-suite bedrooms, two dressing rooms, a home cinema and a games room. Original parquet flooring, a stone staircase and fireplaces are among the significant features together with light, elegant and spacious rooms. Separate from the house is a caretaker’s cottage, a dedicated wood- panelled office suite and library, garaging and stables, an infinity swimming pool and a hard court for tennis or basketball. This château is surrounded by vines, and is a stone’s throw away from St Emilion and Bordeaux. +27 (0)11 482 1876, heritagepropertiesofeurope.com

Pound pounce The strength of the rand combined with the relaxation of exchange controls makes this an opportune time for South Africans to invest in UK direct commercial property, says Broll Investment Broker David Adams. He adds that commercial property capital values in the UK have recovered by 20% to 30% from their trough in the current cycle. Broll highlights two appealing investment prospects. The first is a £7,7-million (about R87-million) A-grade office property requiring around R30- million purchase equity and representing an initial yield of 6,2%. The second is a freehold supermarket in South West London with seven years remaining on lease for £1,3-million (about R14,8-million). It requires R5,5- million purchase equity with an initial yield of 6,62%. +27 (0)21 446 2507, broll.co.za

Black River magic Situated in the popular Black River district, on the west coast of Mauritius, Matala Lifestyle Estate is only three minutes from the beach. Nestling in the Black River Gorge National Park on 18ha of tropical beauty, the 71 luxury villas come in three different designs, ranging from a three-bedroom, 250m2 villa to a four-bedroom, freehold stands, each with private swimming pool. They have designer finishings and are air conditioned in each bedroom with bathroom en- suite. Matala Lifestyle Estate is an Integrated Resort Scheme, meaning that owners and their direct family get residency on the island. Plots range in size from 0,2ha to 0,45ha and are priced from $590 000 (about R4,2-million) to $840 000 (about R6-million). Villas are priced from $945 000 (about R6,7-million) to around $2,098-million (around R15- million). Phase 1 of the development is currently under way and is scheduled for completion by January 2012. +230 261 2233, seeff.mu

48 | March 2011

Compiled by Genevieve Fisher

489m2 villa situated on a half hectare of land. All the villas rest on large landscaped

Discover a new world of opportunity. Offshore banking. 9JGP KV EQOGU VQ OCPCIKPI [QWT Ć&#x201A;PCPEGU DCPMKPI QHHUJQTG ECP JGNR [QW FKUEQXGT C YQTNF QH DQVJ security and opportunity.

Suppliers of Outdoor Furniture

www.canetime.com | cane@canetime.com 12 Kramer Road Kramerville Johannesburg | Tel: 011 2622752 Cell (Durban): 0824104969

We have over 40 yearsâ&#x20AC;&#x2122; experience in helping individuals protect and grow their wealth in the UGEWTG QHHUJQTG NQECVKQP QH ,GTUG[ QPG QH VJG YQTNFoU OQUV TGURGEVGF KPVGTPCVKQPCN Ć&#x201A;PCPEKCN EGPVTGU #PF CNQPI YKVJ C YKFG TCPIG QH QHHUJQTG RTQFWEVU CPF UGTXKEGU YG CNUQ JCXG SWCNKĆ&#x201A;GF GZRGTVU KP 5QWVJ Africa who can provide specialist help and advice. $CPMKPI QHHUJQTG YKVJ *5$% ECP RTQXKFG r r r r

2QVGPVKCN VCZ CFXCPVCIGU /WNVKRNG EWTTGPE[ DCPMKPI #DKNKV[ VQ OQXG OQPG[ GCUKN[ CTQWPF VJG YQTNF +PVGTPCVKQPCN YGCNVJ OCPCIGOGPV UQNWVKQPU

Discover how to protect and grow your wealth offshore Call Visit

+27 11 676 4347 www.offshore.hsbc.com

*Source: GT Financial Stability Forum (www.jerseyfsc.com) Issued by HSBC Bank International, a trading name of HSBC Bank International Limited, HSBC House, Esplanade, St Helier, Jersey JE1 1HS. HSBC Bank International is regulated by the Jersey Financial Services Commission for Banking, General Insurance Mediation, Investment and Fund Services Businesses. *5$% $CPM +PVGTPCVKQPCN .KOKVGF 4GRTGUGPVCVKXG 1HĆ&#x201A;EG 5QWVJ #HTKEC YJKEJ KU CP #WVJQTKUGF (KPCPEKCN 5GTXKEGU 2TQXKFGT HSBC Bank International Limited is a member of the Depositors Compensation Scheme as set out in the Banking (Depositors Compensation) (Jersey) Regulations 2009. For further information on this scheme, please visit the Important Information section on our website www.offshore.hsbc.com/1/2/important-information. Your tax situation will depend on [QWT RGTUQPCN EKTEWOUVCPEGU CPF YG TGEQOOGPF [QW QDVCKP KPFGRGPFGPV VCZ CFXKEG #P[ VCZ KPHQTOCVKQP KP VJKU advertisement is based on our understanding of current and proposed legislation and practice. The legislation and practice OC[ DG UWDLGEV VQ EJCPIG %QRKGU QH QWT 6GTOU CPF %QPFKVKQPU CPF #WFKVGF #EEQWPVU CTG CXCKNCDNG QP TGSWGUV To help us to continually improve our service and, in the interest of security, we may monitor and/or record your EQOOWPKECVKQPU YKVJ WU Â&#x2026; *5$% $CPM +PVGTPCVKQPCN .KOKVGF #NN 4KIJVU 4GUGTXGF MC8460/SJ/2206546/CG

Synergy Scapes are landscaping specialists in: â&#x20AC;˘ commercial and residential landscape design and plans â&#x20AC;˘ landscape installation â&#x20AC;˘ irrigation â&#x20AC;˘ paving â&#x20AC;˘ decking â&#x20AC;˘ rose pruning â&#x20AC;˘ tree pruning and minor tree felling â&#x20AC;˘ specialised garden maintenance â&#x20AC;˘ alien plant eradication â&#x20AC;˘ instant lawn â&#x20AC;˘ trellis and screening installation â&#x20AC;˘ once-off garden clean-ups â&#x20AC;˘ garden refuse removal.

SUNDAY TRIBUNE GARDEN SHOW 2010- AWARD AS BEST NEW COMER - SHOW GARDENS SUNDAY TRIBUNE GARDEN SHOW 2010 - SILVER MEDAL - SHOW GARDENS

For further information, please contact Byron Gordon Beukes on 079 939 9228, or email byron@synergyscapes.co.za, or view www.synergyscapes.co.za. Accredited installer and supplier of Decor Lattice products

Auction Real Estate

Immortalised in an iris In collaboration with the WWF Table Mountain Fund, Strauss & Co. fine art auctioneers are involved in an innovative fundraising bid for the naming rights to a new species of iris, as rare and endangered as it is beautiful. The iris, recently discovered near Saldanha Bay on the West Coast, flowers briefly in the spring and puts on a show of exquisite pale blue flowers. Sadly, even though it’s only just been discovered, the species is already on the brink of extinction. The money raised from the auction will support the WWF Table Mountain Fund to protect and restore the fauna and flora of Table Mountain and the Cape, both of which are part of the most biologically rich, yet threatened, places on earth. The auction runs online until the end of March, and the highest bidder will win an original botanical illustration of the iris and the right to name it. +27 (0)78 044 8185, straussart.co.za

A home in the sky

The auction takes place on 17 March at The Hilton Sandton hotel.

The magnificent Sandhurst Towers penthouse will be going under the Auction Alliance hammer this month. The 1 000m2, three-storey property has a high-tech home automation system and consists of four bedrooms, a chef’s kitchen, an air purification system, designer bar, private lobby, basement parking, exquisite pool, large entertainment area, as well as butler accommodation. ‘We are expecting an exciting auction, as this property is attracting interest not only from local buyers, but also from individuals abroad. The views are breathtaking and the features are all state-of-the-art,’ says Michele Antelme of Auction Alliance. The auction takes place at the Hilton Sandton hotel at 138 Rivonia Road on 17 March. +27 (0)11 430 5555, auction.co.za

A head start

Rich pickings

Just as 2010 was drawing

The commercial and industrial auction property market has reached a turning

to a close, Rawson Auctions

point, and there are some excellent opportunities to be had by investors and

achieved R10-million in sales

owner-occupiers in 2011, says Roy Lazarus of Park Village Auctions. Towards the

in one week, an achievement

end of last year, such properties on auction found a ready market at good prices

that group MD Tony Clarke

– subject to important provisos. ‘Those provisos have much to do with whether

describes as ‘remarkable’

the property is well tenanted, has a stable power supply, is in reasonably good

for a new auctions division.

condition, is well positioned relative to transport routes and markets, and has a

Rawson Auctions CEO Tanya

good rental income producing a steady return on investment, with potential for

Jovanovski says the group’s

further growth,’ he says. Manufacturing, retailing, distribution, warehousing and

relationship with Standard

office accommodation are in strong demand among savvy buyers, and auctions

Bank, ABSA and FNB is what

will satisfy these market needs. +27 (0)11 789 4375, parkvillageauctions.co.za

enabled them to play a full part in the distressed sales market, and she says it’s likely that this market will continue to be a major income- earner for possession are going for bargain

Tony Clarke, Tanya Jovanovski

prices, and are particularly well suited to investors who are prepared to renovate them – on a modest scale – and rent them out,’ Tanya says. A few of the sales that contributed to the success of the young division (Rawson Auctions has been operating for a little over a year) included a penthouse in the eight-storey Intaba residential project in Claremont, a four- bedroom home in Rondebosch and other, smaller repossessed properties that Rawson Auctions sold on behalf of the banks. +27 (0)21 658 7100, rawson.co.za

50 | March 2011

Compiled by Genevieve Fisher

another half year. ‘Properties in

Green Building Real Estate

The right stu Find an eco-f ff

Brain food

Nestlé South Africa has applied for a Green Star Rating for its new head office in Bryanston. It took four years and cutting-edge technology to complete the 10 480m2 environmentally sustainable space. Included in the building’s green features

rie at the Green Bu ndly solution ild Af rica 2011 expoings World Sandton Conven at the tion on 30–31 Mar Centre +27 (0)11 516 ch. 4000 terrapinn.com ,

are intelligent lighting systems featuring motion detectors and electronic dimmable ballasts. The building is also fitted with special glass that reduces glare, and there are atriums that allow natural light into the building. The air conditioners consume 40% less energy by utilising

Raise the roof

ammonia chillers, and traditional geysers have been replaced with heat exchange water heaters.

There’s now another reason to venture into the

‘Over and above the social responsibility,’ says Nestlé Corporate Affairs Director Ravi Pillay ‘the economic

beautiful Cape Winelands and sample some of Villiera

reality of a green workplace is improved productivity and happier, healthier staff who perform better.’

Wine Estate’s sparkling offerings – solar energy.

The indoor gardens as well as the indigenous landscaped gardens surrounding the building also

In the largest roof-mounted solar project in South

contribute towards an appealing office environment. +27 (0)11 514 6000, nestle.co.za

Africa, 539 modules were installed by enerGworx across three of Villiera’s cellar roofs. The energy capacity produced by these panels equates to around 726kW/day, enough to power the wineries (outside harvest time), staff housing, offices, kitchens, processing and bottling facilities, cellars and even cooling and irrigation systems. Villiera expects to see the project pay for itself within the next six years, thanks to savings realised. ‘The project represents a commitment to even greener operations,’ says

‘The green movement is rapidly gathering steam around the world and we all need to be part of it - soon.’ - Berry Everitt, CEO, Chas Everitt International

Villiera Director Simon Grier. A forward-thinking winery, Villiera has made aggressive eco-adaptations

H2Okay Celebrate In

ternational World Water Day on 22 March This year’s them. e ‘Water for Citie is worldwaterday. s’. org

throughout the farm, including biodiversity initiatives, natural pest control, recycling and water management. With a life expectancy of 50 years, the newly installed solar panels will provide a sustainable and renewable source of power for years to come. 0871 510 510, energworx.co.za

Impressive Empire

Making history all over again

One of New York City’s most

Robben Island will soon be powered by green

recognisable landmarks, the Empire

energy. In a joint pilot project called Greening

State Building, has gone green.

Robben Island, the South African National

Malkin Holdings, the owner of the

Energy Research Institute (Saneri) and the

building, has undertaken a green

Department of Energy are investigating the

retrofitting programme that will

development of micro-hydroelectric, biomass,

see it using renewable energy to

wind, solar and (possibly) wave technologies.

power the 270 000m2, 102-storey

A smart grid currently in development at

icon. The group says it has signed

the University of Cape Town will be used

a two- year contract with Green

to coordinate the energy generated by the

Mountain Energy Co. to purchase

various sources and manage its distribution.

55-million kWh of renewable energy

Saneri CEO Kadri Nassiep says they hope to

a year. ‘It was a natural fit for us to

have some of the technology ready in time for

combine 100% clean energy with our

the 2013 UN Framework Convention on Climate

nearly completed, ground-breaking

Change, which will be held in Cape Town. The

energy- efficiency retrofit work,’ says

installation of the green infrastructure will

Anthony E. Malkin, the president

begin in 2011, and you will be able to track the

of Malkin Holdings. The retrofitting

project’s progress online from April.

programme involves a $20-million

+27 (0)21 409 5100, robben-island.org.za

(around R140-million) investment aimed at cutting energy use by up to 38%. The upgrades will include air

Compiled by Andrea Firth

handler replacements, a chiller plant retrofit and the retrofitting of 6 500 windows. As a result of the retrofit, the Empire State Building is expected to rank 18th on the Environmental Protection Agency’s 100% Green Power Purchaser list.

March 2011 | 51

networking

Society

Living the high life in KwaZulu-Natal

8 6

Julie Naidoo, Grant Webster. International psychic medium John Edward live at Sibaya Casino & Entertainment Kingdom: 4Sagree and Ravi Pillay, Nelline and Sandru Pillay 5Esme Rubin, Joy Springer, Damon Beard, Leanne Smith. Cell C’s new network launch at Moses Mabhida Stadium: 6Bharti Patel, Trevor Noah, Sue Kennedy Jan Greeff, Alpheus Mseleku 8Tony Banahan, Bernice Joshua, Donne Henry, Salma Patel. Launch of the eLan Property Group’s Hollywood Circle concept at Protea

Hotel Umhlanga Ridge: 9Rachel and Linda Bam 10Darryl Moodie, Annamarie Labuschagne, Hilton Riddle 11Patricia Lewis, Mark Whitfield and their son Max Lewis.

To see who else we’ve featured in our Society pages, visit thepropertymag.co.za. Email social photographs for consideration to socials@medianova.co.za.

52 | March 2011

Compiled by Debbie Reynolds

Coastlands Umhlanga Hotel & Conference Centre launch party: 1Fahim Jamadar, Zakhiya Rajab 2Miller Matola, Roshini and Saantha Naidu 3Colin and Kirsty Mackrory,