One hundred and twenty-three stands in the first phase of Thorny Bush Estate in Limpopo have sold out, reports Christine McGrath, managing director of Seeff Mokopane. The gated residential estate is not only the first of its kind in Limpopo, but for the time being it is also more affordable than most other gated estates in this province, and in fact in South Africa in general, she says.
“The sales speak volumes not only about the demand that evidently exists for an upmarket, gated residential estate in Limpopo, but also about the remarkable investment opportunities that investors in the area are realising.
“More growth in the near future is predicted for Mokopane as is demonstrated by the significant foreign investment in Platinum mines in the area and a new water feeder pipeline, which should bring more investment, particularly in the mining sector where there are currently another 15 new mining licence applications awaiting the water supply”.
Rob Hudson, MD of Hayes Matkovich Developments, the developer of the estate, says that the 200 ha estate will ultimately comprise 285 homes.
“Currently on sale is the first Phase of 142 stands of which there are still 19 available. Properties started transferring in September 2015 and there are already many homes being built. All stands are full title, free standing and comprise ‘Village stands’ of 700 – 900 square metres priced from R450,000, ‘Golf Course stands’ of 1100 – 2000 square metres, priced from R650,000, and a small number of exclusive ‘Wildlife stands’ of 3200 – 4400 square metres starting at R1m.
“In addition, complete home build packages are also available, starting at R1,45m. 60% bonds are available when buying stands and bonds up to 90% when buying a complete home package”.
Hudson says that Thorny Bush Estate boasts a number of unique features that were previously unattainable for Mokopane and Polokwane residents.
“These include membership and access to the Kameeldoring Country Club and its associated sporting and leisure amenities (the Kameeldoring Golf Course is currently undergoing a ‘Matkovich’ upgrade), a pristine bushveld environment carrying free roaming game like kudu and impala (although within a few minutes’ drive to the centre of Mokopane) and outdoor activities like trail running, mountain biking and fishing on a 40ha dam.
“From an investor’s perspective the estate is equally attractive.
“There are a number of general and unique factors that are driving asset appreciation levels on the estate. There is a distinct shortage in the supply of upper end rental properties in Mokopane. Further, the performance of the Mokopane economy is underpinned by the current and expanding mining sector in the area”.
“Local authorities have also not granted approvals for any similar estates in the area, resulting in Thorny Bush Estate probably being the only estate of its kind in Mokopane for some time to come.”