WHILE investor and leisure buying activity remain largely subdued on the Garden Route, Pezula agent Charles Erasmus says for the first time in three years vacant plots in the Pezula developments are starting to sell. The agent recently concluded the sale of three plots in quick succession.
The plots range in size from 600m² to 1005m², priced between R350000 and R800000.
The developments (Pezula Golf Estate and the Pezula Private Eco Estate) are located about 10 minutes from the centre of Knysna and offer one of the most beautiful locations on the continent, five-star facilities and world-class investment property options, says Erasmus.
The area is easily accessible from the inland provinces via road, or the Cape Town International airport and the regional George airport, which offers a direct link from Cape Town and Johannesburg.
Already an award-winning development, the management take-over of the Pezula Resort Hotel and Spa by Conrad Hotels (the Hilton brand), in mid-2012, is also a boost for the desirability of property here.
The brand is set to attract top-end visitors not only from within the country, but from primary international markets such as the UK, Europe, the US and the East as well as from the emerging African markets, he says.
Since 2007, about 157 sales transactions worth almost R294-million have taken place in the two developments.
Most of the sales have been vacant plots and, on the golf estate, complete homes in the entry-level price bands of R3-million to R4-million, says Erasmus.
“In the last few months, however, we have seen renewed interest and are working with a number of buyers, mostly from the greater Johannesburg area, who are ready to invest.”
Both developments are low density, with only 25% of the golf estate site earmarked for development and 15% of the 612ha private eco estate.
The remaining land is left as pristine rehabilitated coastal fynbos and indigenous forest.
Aside from activities such as birding, hiking and horse riding, residents also have access to the golf course and hotel facilities. The Pezula Golf Estate is built around an award-winning championship golf course that was recently ranked seventh among the world’s top 20 golf resorts by the British website primelocation.com and was also the only golf resort in Africa to be nominated.
The estate enjoys stunning views across the golf course to the Knysna Lagoon, Indian Ocean and the Outeniqua Mountains.
The recent transfer of the management of the entire facility to the Home Owners’ Association under the helm of a new, experienced manager is a further positive development.
The adjacent Pezula Private Eco Estate is located on the eastern Head at Knysna, includes a 4km coastline and enjoys panoramic views of the ocean, indigenous forests and fynbos landscape.
It has been lauded as one of the most environmentally aware luxury developments in the world.
Plot sizes are generous, ranging from about 3000m² to 33000m², priced between R500000 and R15-million for a cliff-top plot.
While entry-level homes that sell for upwards of about R5-million continue to attract good interest, Erasmus says the top-end investment homes offer the best value.
Many sellers bought and built here at the height of the market and are now looking to offload these.
Consequently, many of these are now priced very attractively.
For example, a spacious 730m² luxury investment home with panoramic sea views that is set on a plot of just more than 16000m² is on offer for R22-million.
Architectural features include beautiful exterior and interior stone feature walls and exposed reed-clad ceilings. Massive windows and glass walls offer breathtaking views.
Finishes include air conditioning, under-floor heating and a sound-system throughout.
The home comes with five bedrooms with luxurious en-suite bathrooms with finishes such as emperor marble baths and both an indoor and outdoor shower.
The modern kitchen has marble counter tops, integrated appliances and a separate pantry and scullery.
There is also a wine cellar and a unique art gallery in the home.
The living areas open to an entertainment terrace and pool with a waterfall, surrounded by wooden decking that overlooks the ocean.