Val de Vie Estate property is all-but sold out, with only 25 of the 540 plots still available and a total of 228 homes now completed. However, there is still much to be done on the estate and expansion plans or improvements will continue as the estate evolves, says Val de Vie marketing director, Ryk Neethling.
“Essentially, the project is sold out, and there are only 20 resale plots on the market at present. The reality is that the demand is exceeding supply and gaining momentum, and we might have to look at expanding our borders at some point,” he said.
2013 was a successful year, said Neethling. In August, the wine cellar and wine farm were sold to a Chinese consortium, which was very well received by the management and residents, and one of the homes on the estate won a prize from the International Property Awards for the best single unit development in Africa.
Last year 130 properties worth just over R200 million were sold in all, which included developer plots, houses and resales. “The value of property here, we estimate, has increased steadily and by 50% in the last year on the development plots,” he said.
“In the last three months of 2013 alone, there were 17 developer plots sold, a vast improvement on previous years,” said Neethling. “In addition, there has been much building activity, with between 80 to 90 homes being constructed at a time over the last nine months and continuing, judging by approved building plans.”
There are, too, plans to build a boutique hotel and private offices to complement what is already there.
Nestled between Paarl and Franschhoek, this is one of the few idyllic places where the estate management and the developers have thought through carefully what it is that they are striving to create and maintain and what the residents there have bought into, says Deon Basson, managing director of REDi (Real Estate Development Interactive), whose systems have been implemented to assist with the complete management of the estate, from initial sales through to the day to day operations and communications.
“This is predominantly a “young” estate, where the majority of the couples are around 40 to 45 years of age, many with children under ten years of age,” said Neethling. “What we have in our favour is being close to many good schools, Paarl Gim, Bridge House and Paarl Girls and Boys, to name a few.”
Neethling said that apart from coordinating the construction of all the homes in various stages of the building process, management of this 220ha estate is a huge operation. Some of the facilities on the estate are: 12ha worth of lakes, which are used for the estate’s irrigation; the state of the art security, which has thermal camera coverage (43 cameras in all) of the 8km perimeter fence as well as day and night visual coverage; the storage units on the estate that have to be managed; the sewage plant that was built specifically for this estate; the roads, the landscaping, the polo fields and stables, to name a few.
REDi's SiMS (Sales Information Management System) has been implemented to manage, administer and track all sales on the estate, from contract through to transfer of Title and, according to Neethling, they are finding the use of the interactive sales map a very important sales tool.
The REDi Community Portal (estate management system) has also been put in place to assist with accurate reporting and real-time communication between the residents and estate management. With 900 residents at present on the estate, the Community Portal, which can be accessed via any web-enabled device, is an ideal way to everyone to communicate with each other, share community services and access up to date information, said Basson.
“All the shareholders (who all live on the estate) and management are working hard to create a fully integrated lifestyle estate, where those who live here will feel safe and secure and can rest assured that their investments will grow exponentially in the future due to good management of the estate,” said Neethling.
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