Size can be an ad­van­tage

Business Day - Home Front - - HOMEFRONT -

PROP­ER­TIES in KwaZu­luNatal are of­ten set on very large grounds, with more than one house on them. It is com­mon for fam­i­lies to live to­gether on the grounds, but in dif­fer­ent homes, start­ing with par­ents in the main home and grown off­spring in the oth­ers, of­ten swap­ping as the par­ents age.

Tony Hick­man, MD of Se­eff Westville, says: “A trend com­monly seen in KwaZulu-Natal now is sec­tion­al­i­sa­tion of these prop­er­ties so that they are ei­ther de­vel­oped fur­ther into more homes and units or split off into their sep­a­rate com­po­nents.”

Knowl­edge Fac­tory’s SAPTG fig­ures show that in Westville, for ex­am­ple, 82% of prop­er­ties are full ti­tle, with an av­er­age stand size of about 1 862m². The pre­dom­i­nant price band for full ti­tle prop­er­ties is be­tween R1m and R1,5m, with 52 sold so far this year for an av­er­age price of about R1,3m

One such prop­erty sold by Se­eff Westville is The Gris­dales at 27 Fern­dale Av­enue. It was owned by Dr Gris­dale — now de­ceased — and his wife for more than 30 years. They lived in the ex­ten­sive main house and built an­other for their son, Harry. The main house has been sec­tion­alised and could eas­ily be di­vided per­ma­nently into two units.

Se­eff Westville agent Kay Thomp­son, who sold this prop­erty, says: “We had the main house as well as Harry’s house on the mar­ket as sep­a­rate en­ti­ties, but in the end one buyer bought the whole lot for R3,5m — R2,1m for the main house and R1,4m for Harry’s house.

“He plans to split the main house into two on a tem­po­rary ba­sis and will rent out a smaller sec­tion un­til such time as his mother-in-law joins them in about two years’ time from Eng­land.

“ A more per­ma­nent ar­range­ment will then be made to con­vert that side into a per­ma­nent home for her.

“Harry’s house

is cur­rently rented out to a fam­ily of four, and this ar­range­ment (cur­rent for a year) will con­tinue un­til the buyer de­cides to use it for other pur­poses. In due course he may move his busi­ness there.”

The large dou­ble-storey main house, which will be easy to con­vert into two, is set on 7 014m² of level land and has five bed­rooms and four bath­rooms, two lounges, two din­ing rooms, a large swim­ming pool and plenty of park­ing, plus an enor­mous kitchen that can also be split into two, as well as a laun­dry and a ron­davel.

“The smaller home built for Harry is a low-main­te­nance face­brick house of 208m². It has four bed­rooms and two bath­rooms, is fully fenced, in­cludes staff ac­com­mo­da­tion, a work­shop, two lounges, a mod­ern kitchen, a laun­dry and a scullery. A so­lar panel and gas stove will help to keep run­ning costs down.”

An­other ex­am­ple of such a prop­erty cur­rently on sole man­date with Se­eff Westville is a four bed­room, two bath­room home with pool near West­wood Mall that is set on 5 247m² and has been re­zoned to ac­com­mo­date 16 flats in two blocks plus the ex­ist­ing home. This is on of­fer at R1,5m.

Hick­man says: “Prop­er­ties like this are a great in­vest­ment, es­pe­cially those in a good cen­tral po­si­tion close to schools, shops and other ameni­ties and with easy free­way and high­way ac­cess.

“Small com­plexes al­low fam­i­lies to share ex­penses and are more se­cure than stand-alone homes, since there is gen­er­ally some­one on the prop­erty at any given time.

“An­other ben­e­fit is that older folk can be cared for by their fam­i­lies in cases of ill-health or frailty. Fur­ther­more, if the owner lives in one of the units and rents out the oth­ers he can keep a close eye on his in­vest­ment.” Con­tact: Se­eff Prop­er­ties Kay Thomp­son 083 641 0420 Of­fice 031 266 8317

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