Spectacular mountain views
This 4-star guesthouse, well positioned in the Franschhoek Valley is on the market at R13m, writes Michelle Swart
UNTIL the mid 1990’s residential property in Franschhoek was owned mainly by old Boland families, with the odd foreign or local owner purchasing mainly for holiday/weekend purposes.
It was around this time that both foreign and local investors commenced buying property with intent in the valley. The tendency impacted on both residential and farming land and the upward spiral commenced.
At that time, the market was somewhat limited to childless and retired folk and the only option for schooling was either in Paarl or Stellenbosch. A group of parents with great foresight identified the need for schooling in the valley and set about establishing what is today the highly acclaimed Bridge House Independent School. The advent of the school therefore opened up the valley to a host of investors who would otherwise not necessarily have considered Franschhoek as an option.
The demographics naturally changed; not only as far as residential and farming, but also commercial property, plus the need for further developments to accommodate the ever-increasing demand for property. The demand was further driven by the desire to not only benefit from country living but also to enhance the overall lifestyle elements and thus restaurants, boutique wineries, art galleries, specialist retail and coffee bars mushroomed. Franschhoek also plays home to a contingent of “swallows” who own property and enjoy only the summer months in the valley.
The end result of all this was simply that Franschhoek became the ultimate destination in the winelands; the wine and culinary Capital of SA. Franschhoek has a quaint village atmosphere juxtaposed with the sophistication of fine dining, boutique hotels, 5-star guest houses and wine farms.
Bev Malan, one of the agents marketing this property, notes that during the economic downturn, sales volumes decreased from the high of R565m per annum to just over R2m last year. “The unique factor was that prices remained firm and last year saw a 6,11% positive growth. Since November last year, there has been an increase in sales and demand is strong, especially from foreign buyers,” she says.
Malan indicates that an entrylevel, two-bedroom apartment sells for around R1,3m whereas a small three-bedroom house will fetch around R3m. “A mid level home on 1 000m² with three to four bedrooms will sell around R5m. There are a few exclusive homes on the market around the R30m mark; these have four or five bedrooms en-suite, a wine cellar, exquisite finishes and most likely, a spectacular view.”
Malan says that Franschhoek is an excellent location to invest in as demand is always high for property in the village. However, the entry level into the market is high and thus, prohibitive to some. Place Vendome, a lifestyle centre comprising boutique shops and a champagne bar, has recently opened and two more centres are under construction.
This 4-star guest house, which was a finalist in the World Luxury Hotel Awards 2008, and separate owner’s home has been built in the traditional French Provencal style on a hectare of land and is nestled among vineyards with great views of the mountains.
Although out of site of the village, this home is only a short walk to the high street with its many shops and restaurants. This property is set on farmland and is 9 000m² in extent with spectacular views of the mountains.
In addition to the newly renovated guesthouse which includes a swimming pool, lounge, kitchen and three en-suite bedrooms with terraces, there is a separate owner’s home with four en-suite bed- rooms, three of which have beautiful views.
There is also a very spacious lounge with three double sets of French doors leading onto the covered terrace and private pool with outstanding panoramic views, study and a spacious kitchen. Three of the bedrooms in the owner’s house have their own entrances (access to the main house not required) and are currently used as guest rooms.
In addition there are approved plans to extend the guesthouse to 10 en-suite bedrooms with terraces and large lounge, library and kitchen. The owner’s house also has plans to be extended to a double-storey luxurious home with four en-suite bedrooms with terraces. The estimated costs for all the above improvements, including extensive landscaping and large new guest pool are approximately R7m.
“The guesthouse currently generates just under R2m per year income, therefore providing a private home, idyllic lifestyle and a generous income,” says Malan.
Furniture and plans for additions will be included in the sale. Price: R13m Contact: Bev Malan 082 901 6966 Kevin Layden 082 300 9446
The guest housis built in the French Provencal style on a hectare of land and is nestled among vineyards with great views of the mountains.