Pam Golding Properties has announced that it has entered into a partnership with Steyn City Properties to market residential properties within the vast Steyn City mixed-use development in the north of Johannesburg, where the first homes will go on sale in March 2015.
“Steyn City is one of the most exciting developments to take place within Johannesburg’s northern suburbs for many years and Pam Golding Properties is honoured to now be involved with the marketing of homes in this prestigious lifestyle resort,” says Dr Andrew Golding, chief executive of the Pam Golding Property group.”
Dr Golding says that in terms of land surface area, Steyn City, which is approximately six times the size of the Sandton city centre, is the largest single residential development ever undertaken in South Africa. “Nothing quite like it has ever been attempted,” he adds. “The development is proving a considerable shot in the arm for the local neighbouring economy, employing more than 10 000 people to date, and further increasing confidence in the area, which is now starting to boom.”
Once it is completed, the 2000 acres of acquired land will house a total of 10 000 residential properties, including apartments, townhouses, cluster homes and freehold homes, some of which will be situated on properties as large as 4000sqm. Dr Golding says that a total of approximately R6-billon will have been invested in the development by the time phase 1 of the development is completed.
Jason Shaw, manager of the Pam Golding Properties (PGP) Fourways/Dainfern office, explains that PGP will jointly market the residential properties with Steyn City Properties. “It will be a team effort to which PGP will be devoting considerable resources, and we have set up a joint marketing team to plan the way forward,” he adds.
“Although Steyn City will offer many different types of properties catering for a diverse range of tastes and needs, it is an upmarket development consisting of high quality residential properties. It therefore makes a great deal of sense that PGP, which is a market leader in the upper end of the market in South Africa, should be partnering with Steyn City Properties to market the many prestigious homes that will be made available within the estate,” says Shaw.
Giuseppe Plumari, chief executive officer of Steyn City Properties, concurs. “We are delighted to be able to work with such a recognised property brand as Pam Golding Properties. I think the group’s involvement in Steyn City is testament to the quality of the project,” he adds. “We appreciate PGP lending its considerable knowledge and expertise to the initiative, as well as its local and international marketing clout.”
Plumari says that PGP’s association with the global property group Savills , which has a network of over 500 offices and associates in 45 countries, affords immense global reach. “We expect the Steyn City property offering to prove very popular among both local and international buyers, so this is an additional area where we will be able to add a great deal of value. We also anticipate that the development will attract the attention of investors from around the African continent, where PGP and Savills have a strong presence.”
Once completed, Steyn City will be a completely mixed-use lifestyle resort consisting of an office development, retail development, schools and crèches, hospital and healthcare facilities, and an unprecedented range of recreational facilities, as well as an 18-hole Nicklaus-design golf course. Planning permission has been approved for residential units consisting of some 8 300 apartments and sectional title homes, 730 cluster homes, nearly 820 freehold homes and 120 retirement village units , but demand will dictate the final breakdown.
Lambert Bezuidenhout of PGP Fourways/Dainfern, who specialises in marketing residential developments in the area, says that pricing of the different homes being sold in the first phase of the marketing campaign will be announced when the development is launched in March 2015.
One of the ideas behind the mixed-use property development is that the homes will suit a variety of different needs, affordability and lifestyle requirements. According to Bezuidenhout, the homes are likely to appeal to professionals, executives, entrepreneurs and families from the middle through to the upper income brackets. However, it is not only those who are seeking a primary home who are looking at the lifestyle resort, potential investors have also already shown an interest in buy-to-let opportunities.
Bezuidenhout says that the greater property market in the Fourways area has grown from strength to strength in recent years, and there is relentless demand for homes in estates such as Dainfern Golf Estate, Fourways Gardens and Cedar Lakes, among others.
“Investors are increasingly discovering the greater Fourways region,” he adds. “Properties in the area offer good value for money and a wonderful lifestyle. Fourways is also conveniently centrally situated and thriving with new commercial, office and residential developments constantly being built. Upgrades to infrastructure, including the improvements that are being made to William Nicol Drive as part of the Steyn City development project, are ongoing.”
Bezuidenhout believes that the properties in Steyn City will sell rapidly when they come onto the market. “The developers have certainly done their homework when it comes to the location and design of the lifestyle resort,” he observes. “Steyn City will be offering a truly unique lifestyle. Residents will be able to work and play within a secure community where they will want for nothing.”
He points out that Steyn City will have office facilities and schools for those families who do not wish to commute every day, while a number of retail outlets will provide for their shopping needs. There will be sporting facilities such as an outdoor gym, skate park, 60 km mountain bike trail, a 15km promenade and a world-class golf course, to name just a few.
“All of this will be provided within a beautiful woodland environment that has been designed by well-known landscape architect Patrick Watson,” notes Bezuidenhout. “Approximately one half of the estate will be planted with an estimated one million indigenous trees. This will be resort living at its very best.”
Shaw says the developers are following the rather novel approach of developing the lifestyle resort and the residential units before placing them on the market. This will give homeseekers the security of knowing exactly what they are buying. Most of the residential properties will be sold in this way although some opportunities will also be available for purchase off-plan.
“PGP believes that Steyn City points the way to the future of mixed-used property development. We are indeed proud to be involved in this innovative and highly sustainable approach to suburban development,” concludes Shaw.