Luxury polo village for Cape Winelands
7 minutes ago Carin Smith
Franschhoek - A need for luxury residential units and boutique "family offices" prompted the new Polo Village development on the Val de Vie polo and wine estate in the Cape Winelands, according to the marketing director Ryk Neethling.
"We've been working on this Polo Village concept for five years, studying overseas trends. The time is right to launch now," Neethling, who is also a shareholder and co-developer, told Fin24.
The site of the new development is just over three hectares. This excludes the site of a hotel, which is planned as part of the development.
Construction is planned to start in about three months.
There will be 55 residential units and about 20 boutique offices. The residential units are geared towards people wanting a lock up and go in the Winelands or Western Cape.
The offices are mainly for Val de Vie residents. Residential units will also be serviced by the 5 star hotel.
"Our residents are mostly originally from Gauteng and commute," said Neethling.
"They run their businesses from their homes, but this is not practical and they have asked us for office space close to home."
Val de Vie's polo players have reserved most of the units as well as quite a few Gauteng residents wanting something in the Winelands.
"The units could be put in the hotel rental pool and get a return, although this is not the main aim," said Neethling.
"There is also a very big need for smaller secure housing here in Paarl and Franschhoek."
Prices for the residential units will range from R1.5m for 60m², R2.5m for 80m² and R2.5m for 100m².
There have even been enquiries from local and international buyers.
The Val de Vie Estate, where the first construction started in 2006, has sold just over 500 of the original 530 plots.
There is a full working wine farm of 25ha on the estate, two international standard polo fields and 80 stables.
"We host some top international polo tournaments every year," said Neethling.
In 2013 Val de Vie won an award for the best development in Africa at the International Property Awards in Dubai.
"It is a primary residence estate combining a lifestyle of nature, lakes, the Berg River, polo, wine and other sports amenities," said Neethling.
"Last year we had 130 sales and this year we are on target to reach 150 sales and a 30% increase in land value."
Stefan Antoni designed the new mixed use development.
"It is a bold move, but we are very excited about the results. We have acquired quite a bit of land surrounding the estate and there are plans to expand over the next 10 years," said Neethling.