Master-crafted Natal elegance
Currently operating as a B&B, this Durban residence would make an ideal family home
SITUATED in the Berea’s Musgrave area, this home was built in 1886 by master craftsmen from England for a son of the prosperous Butcher family as a wedding gift. Although used mainly as a residential home, it saw service as a nursing home for a period during the Second World War.
Additions and alterations were undertaken in 1970 and a lift was installed in 1979.
Built on 1 705m², the house has a formal lounge and dining room, a conference room for 12 delegates, breakfast room, TV lounge and cellar bar with full sized billiard table. There are seven well appointed bedrooms. all en-suite and decorated in different Indian themes, namely Baas, Ganesh, Phal Beea, Gora, Mahal, Nehru and Ghandi. There is also a laundry and full staff accommodation, double garage and parking for six to eight cars with potential for more parking available.
The house has been beautifully maintained with 4m high ceilings, sash windows, a wide, sweeping wrap-around veranda, which is one of the owner’s favourite features, and beautiful columns framing the patio.
Called St Anne’s, this home is currently run as a guest house and conference centre with the Victorian architecture and gracious surrounds providing an excellent backdrop for photo shoots.
The property is fully walled with an alarm system and electric fence and set in a lush garden. It is close to a host of amenities including top hospitals, schools, restaurants and the Musgrave shopping centre.
Says Keith Wakefield, CEO of Wakefields Estate Agents: “Like most areas across the country, as monitored by the First National Bank residential property baro- meter, activity levels on the Berea have increased slightly with 89% of sales being concluded at less than the asking price. However, the average time for property on the market has declined, not because sellers are reducing prices, but rather because buyers are putting in more realistic offers.”
Wakefield says reports of homes being sold due to financial pressure declined to 24% in the fourth quarter of last year compared to 28% in the previous quarter, but, he says, these kinds of sales still remains at high levels.
“Entry level houses on the Berea proper are priced between R1,79m and R1,8m for a small three-bedroom house in need of renovation. Mid-level houses with special features range between R2,2m and R2,5m,” he says. “In
The house has been beautifully maintained with a wide, sweeping wrap-around veranda
the past 12 months, top end homes have sold for an average R6,9m according to figures from the deeds office, with the average stand size ranging between 487m² and 650m².”
Knowledge Factory’s SAPTG statistics indicate that the average price of a full title property sold during the 2008-09 period was R1,6m, which has declined to R1,5m in the 2009-10 period. Transaction numbers have also decreased slightly from the 44 transfers recorded in the 2008-09 period to 39 recorded during the 2009-10 period. The value growth trends look pretty solid, with the one-year trend reflecting a 12,31% growth, the three-year trend showing a slight value growth decline of -1,01%, and the five-year trend an appreciation of 12,79%.
Wakefield says this area consists mainly of upper-middle class people leading a favourable lifestyle compared to any in the world, according to Knowledge Factory’s Suburb Demographics report, Cluster Plus. This group generally consists of older, more stable suburban areas with several pricey new developments also included. Properties are this group’s most significant investments.
Cluster Plus indicates that Musgrave also includes a cluster of homeowners under the “Terracotta Terraces” grouping, consisting of younger homeowners, the technologically empowered new generation of the workplace and the first-time home buyers of the past decade. Seven out of ten of these young inhabitants own the homes they live in, an indication of their earning potential rather than current financial security.
Their homes are small, at the price, but new. In fact, the majority of these properties have been built in the past decade. Terracotta Terraces houses (small), townhouses and flats (a minority) are inhabited by young people who are mostly single and well educated. In fact, the Terracotta Terraces house relatively more people with post-matric qualifications other than degrees than any other cluster. Technical qualifications are the foundations of this cluster. This may explain why they have the highest percentage of employed people of all, and also relatively high incomes despite their age. Price: R6,5m Contact: Wakefields Estate Agents Linda Nickson 084 245 2167 031 204 7100