Strategically well positioned on the main route from Johannesburg to the Kruger National Park and renowned as the fly fishing capital of South Africa, the scenic town of Dullstroom on the Highlands Meander is a popular tourist stopover and destination for both local and international visitors.
Anton Greeff, area principal for Pam Golding Properties, says due to the amount of tourists travelling through and to Dullstroom, the town is constantly expanding rather than experiencing only seasonal growth as occurs in many other small towns.
“Dullstroom is enjoying increased investment, a very positive indicator of ongoing confidence in the area. Two relatively hotel groups, Urban Hip Hotels and go Touch Down Resorts, have purchased a number of hotels in and around the town, while the 5-Star Walkersons Hotel & Spa has recently been acquired by Next Leisure Group. Properties in Dullstroom attract many tourists who are looking to invest, as well as city dwellers wanting to enjoy the countryside,” he says. With its Ernie Els signature golf course, another key attraction in Dullstroom is the exclusive Highland Gate Golf & Trout Estate which was recently purchased by Century Property Developments. Stands for re-sale at Highland Gate are priced from R500 000 through Pam Golding Properties.
Over and above this, Dullstroom, which is just two and a half hours’ drive from OR Tambo International Airport, and apart from being a premier fishing location has numerous attributes including scenic waterfalls, trout dams, wild flowers, the Verloren Valei Nature Reserve and Dullstroom Bird of Prey & Rehabilitation Centre, as well as a wide variety of leisure activities, such as horse riding, walking trails, mountain biking and fine restaurants. With its high-altitude crisp mountain air and cosy log fires, Dullstroom even has a Red Wine Poet Society, a whiskey bar with what is said to be the largest collection of whiskeys in the southern hemisphere and a specialised clock shop with the largest collection of clocks – also in the southern hemisphere.
Says Greeff: “As a result of the recent economic recession and its impact on the property market, Dullstroom currently offers properties at reduced rates, which makes this an ideal climate for investment over the medium to longer term. In fact we recently concluded a transaction for the sale of a leisure and trout farm which includes a lodge with an international buyer who owns properties around the world. He enjoys fishing and with the favourable exchange rate found good value for money here. Acquired for R5.7 million, the property is to be used by the purchaser for leisure purposes. As he will visit the farm annually staff will manage the property.”
Greeff says purchasers in Dullstroom buy for a variety of reasons. Those investing in a lifestyle typically buy a second home or farm for leisure and relaxation. This is usually someone who lives in the fast lane, does not have a great deal of spare time but has the means to acquire an easily accessible getaway property where they can enjoy quality time with their family enjoying nature but with all the home comforts.
“Then there are those who are looking at near or future retirement. These buyers may have financial interests in other concerns yet are looking to invest in a property they can easily manage and derive income. In this instance a good example would be someone seeking an established guest farm with repeat clientele and a solid annual return – with existing staff who can manage and maintain the business should the owner not wish to manage the property,” says Greeff.
Prices of self-catering guesthouses start from R490 000 for a one bedroom, fully furnished studio apartment to a fully furnished house in an estate (situated close to its own dam) priced at R2.8 million. In regard to farms, depending on the infrastructure and size the price may vary from a small undeveloped site of vacant land starting from R750 000 up to R13.5 million for a fully developed 530 hectare farm – fully game fenced with 12 dams and two houses.
Says Greeff: “Currently Pam Golding Properties is marketing several properties which offer the potential for sound return on investment. Firstly a spacious three bedroom, three bathroom (two en suite) home or self-catering guesthouse situated within the secure Oaklane Estate offers the ultimate country living in the most scenic spot in Dullstroom. With uninterrupted tranquil views of the Dullstroom Dam and Suikerboschkop this property currently generates a rental income of approximately R10 000 to R15 000 per month, with hassle-free maintenance as cleaning and garden services are available in the town or close proximity. It is priced at R1.95 million.”
In terms of farms Cpirit Country Haven is a beautiful, tranquil farm set on about 50 hectares in a mountainous region with a stone-clad, self-catering farm house and cottages which can accommodate 28 guests in seven units. There is also a new conference and wedding facility. The spring fed trout dams provide exclusive fly fishing while the seasonal harvest of peaches and walnuts provides a perfect setting for a picnic in the orchard. Included in the sale are livestock (sheep, cows and horses), all furniture in the accommodation units and function venue, farming equipment and implements (but excluding personal equipment/furniture in storage rooms). The farm has an approved environmental impact study and permission to build a further 12 units. The selling price of R11 million excludes VAT. Says Greeff: “This is ideal for someone seeking the perfect existing guest farm and well established name in the business. It has the space of the countryside yet is manageable for someone with no experience in farming, and with the new function venue income potential is extremely promising. The current occupancy is approximately 85 percent over weekends.
A 194 hectare farm, fully game fenced and with a five bedroom, two bathroom farm house and separate one bedroom, one bathroom cottage that can be rented out is on the market at R6.5 million. The property includes four registered dams fed by five springs, with black wildebeest, blesbok, fallow deer and mountain reed buck grazing on the rooi gras that grows in the mountains. The sale includes everything in the cottage and this farm is well suited for personal leisure purposes, yet has the capability to generate sufficient income to cover its costs as the cottage brings in approximately R8 000 to R10 000 per month and can be rented out when the owner is not in residence.
A commercial investment property prominently located in Dullstroom’s main road is currently for sale at R3.2 million. This characteristic stone complex consists of five detached buildings with six shops flowing onto the treed, cobblestone parking area. The sizes of the units vary from 37 to 128 square metres (with a total lettable area of 413 square metres), providing opportunities for a range of commercial needs. The buildings are well designed with fine internal finishes conforming to the typical Dullstroom country appearance. Millys Country Trout has been the anchor tenant for many years and is a landmark with its well-known brand.
For further information contact Anton Greeff of Pam Golding Properties Dullstroom on 013 254 0205 or email firstname.lastname@example.org.