21 July 2016
Valley and Val de Vie will soon join to become a single luxurious, self-sustaining community – and one in which billionaire businessman, Patrice Motsepe’s African Rainbow Capital, has bought a 20% stake.
Known as Val de Vie Estate, residents of the new 900ha development will ultimately benefit across the board from multiple strategies in planning that will reduce costs as well as augment lifestyle advantages, especially once infrastructure is in place to grant unobstructed access between the two properties.
“The primary economic advantage will be the reduction of levies due to the consolidation of security, maintenance and landscaping costs,” said Dr George Cilliers, Winelands co-principal of Lew Geffen Sotheby’s International Realty. “And, once the planned changes and upgrades have been implemented, residents will eventually enjoy shared and easy access to amenities on both estates, including the Jack Nicklaus Signature Golf course, fitness centres, tennis and squash courts, indoor and outdoor swimming pools, equestrian facilities and two polo fields.”
Currently, vacant land in Val de Vie is priced from R1,69m to R4m, resort lodges from R3,95m and residential houses range between R5,2m and R28,5m, depending on size and location.
Leigh Robertson, residential estate specialist at Pearl Valley for Lew Geffen Sotheby’s International Realty said: “During the decade that I have exclusively sold Pearl Valley property, there has been a consistent demand. On the face of it the estate has been impervious to market trends and the2008 credit crunch, as well as the current market slump.
“Pearl Valley has consistently been rated among the top five golf courses in South Africa over the past 10 years and was named ‘Best Residential Estate in South Africa’ last year in a New World Wealth survey.”
Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty, said: “The positive market response to the assimilation of the estates is evidenced by the African Rainbow Capital investment, especially since this is the first property acquisition the fund has made in South Africa.
“The large investment underscores the fact that this super estate’s prospects are extremely positive despite the general state of the economy, and epitomises what buyers are looking for in the Western Cape Winelands.”
Recent sales in both estates have gone to younger investors, with just over 50% of buyers aged between 36 to 49 years old; less than a third are aged between 50 and 64.