View of Welgedacht Estate which borders bordering Tygerberg Hills Nature Reserve in Cape Town’s Northern Suburbs.
Older homes being demolished or completely renovated
Such is the demand for homes on the well-established and upmarket Welgedacht Estate bordering Tygerberg Hills Nature Reserve in Cape Town’s Northern Suburbs that homes are being acquired at high-end prices only to be demolished to make way for luxurious new houses at an additional investment from R3 million to R6 million or more.
Comprising some 568 homes in a tranquil, park-like security estate with extensive open spaces and vistas to vineyards and the Overberg Mountains, entry level homes currently available are in the region of around R4.5 million.
Says Annien Borg, MD for Pam Golding Properties in the Boland and Overberg regions: “With landscaped parks and luxury homes, prestigious Welgedacht Estate has a special country living feel despite being only a 25 minute off-peak drive from Cape Town”.
“With no plots left, it is remarkable how much people are prepared to invest purely to acquire a stand and secure their spot to build a brand new home. In October 2014 a house on a plot of 2 153sqm sold at R7.371 million to be completely demolished”.
“As the plot was at quite an incline, soil was brought in to create a level stand and a completely new home built from scratch. In effect, one could say the buyers purchased a plot at R7.371 million plus demolition and levelling costs – such is the high demand for this prime estate, considered one of the most sought after in Northern Suburbs.”
“A more recent sale to secure a ‘plot’ occurred in September 2015. In a prime position overlooking the dam, the 430sqm house and 1 200sqm erf sold for R8.441 million. The house was completely gutted and is being rebuilt more or less with only the foundations retained and one or two walls”.
“Currently there are many other homes on the estate being completely renovated either for existing owners or buyers moving onto the estate and carrying out their own renovations to suit their own requirements and taste. As a result, a lot of the older homes are being snapped up as they are ideal for this purpose.”
Homes sold for over R10 million
With 19 properties changing hands in 2015 (to November), the two highest prices achieved on the estate for the year to date were concluded by Pam Golding Properties for R11 million and R10 million respectively. The highest price ever achieved on the estate was for a spacious family home set on three consolidated plots which fetched R12.5 million in 2012.
In 2015 the lowest price for a property in Welgedacht Estate was R3.8 million. During the three month period from August to October 2015, the average selling price was just over R5.15 million, while in the price band over R3 million, the average selling price was slightly in excess of R6.3 million.
Established over two decades ago on 134ha of land on the northern slopes of Tygerberg Hills on what was originally a wine farm, Welgedacht Estate offers an eclectic mix of architecture and languorously sprawling grounds interspersed with established trees, dams, natural wetlands and trails. Welgedacht, which is Dutch for ‘well thought out’, aptly describes the impressive array of uniquely designed homes which have sprung from the ground over the years.
Now a thriving community, with a wealth of diverse birdlife, evidence of residents’ contentment with their location lies in the statistics, which, according to Lightstone, show that just over half the home owners have lived on the estate for 11 years or more. Younger buyers too are embracing this way of life with 57 percent of recent buyers (over the past year) in the age bracket from 36 to 49 years.
Buyers come from provinces around the country, from nearby suburbs in the Western Cape and Gauteng as well as further afield, including expatriates returning from abroad, and all seeking the security and appealing lifestyle which Welgedacht offers in generous proportions.
“With a number of head offices in the vicinity such as Sanlam, Cipla and Foschini, the estate is ideal for executives as well as doctors and medical specialists working at Panorama Medi-Clinic or Tygerberg Hospital. Others are professional people, including attorneys and magistrates, with Bellville Magistrate’s Court close by, while others are retirees escaping the buzz of city life”.
“Once people live here they tend not to want to move away. When children grow up and leave home many relocate to a smaller, single level home, of which there are too few to meet the great demand. Often these smaller options may not even come onto the market, being bought privately among neighbours.”
With three designated children’s play parks, family life is complemented by six high quality schools within easy reach: Kenridge, Welgemoed and Durbanville Primary Schools and DF Malan, Durbanville and Fairmont High Schools. In addition, a shuttle service makes schools in Paarl, Stellenbosch and the Southern Suburbs highly accessible. The University of Stellenbosch Business School and Satellite Campus are just over 3km away with the Academy of Advanced Technology less than 4km.
Says Borg: “These are arguably the best schools in the Northern Suburbs, catering for co-ed and both English and Afrikaans medium. Shopping amenities include Tyger Valley, Willowbridge and Van Riebeeckshof shopping centres, while there’s an abundance of good restaurants and easy access to the Cape’s renowned wine farms. Sports activities abound with Bellville 18-hole Golf Club, Majik Forest and Nature Reserve great for walking, and mountain biking trails extending into the surrounding farm land and vineyards.”