June 12 2024 13:40
Landsdowne Property Group, one of South Africa’s largest residential real estate managers and estate agency company has been appointed as managing agents of the new luxurious development, Devonbosch in the Western Cape.
Devonbosch, situated near Stellenbosch in the Cape Winelands is a mixed-use precinct which includes apartments and penthouses, co-working offices, retail and light industrial spaces and with proposed future projects including a hotel development, schools, universities and medical facilities.
Its founders say that the precinct is differentiated by its “focus on quality of life and integration with the pristine natural surroundings of Stellenbosch”.
Landsdowne CEO Jonathan Kohler said his team has experience with managing high-end properties for clients.
“This appointment further entrenches Landsdowne as a leading specialist precinct manager, alongside other high-end clients such as Steyn City in Gauteng, Conradie Park, and Paardevlei in the Western Cape,” said Kohler.
“Our deep knowledge and expertise in managing mixed-use precincts, as well as our willingness to partner for the long-term, balancing the interests of both the developer and residents is what gave the developer significant comfort. Devonbosch is a major project that will only be built out in the next 15 to 20 years, depending on the rate of sales, and being able to balance the evolving interests of all stakeholders is key to its success,” he said.
Reghard Goussard, executive director for sales and marketing at SquareTurn Developments, the developer of Devonbosch, said: “Like any successful development company, we are only as good as the company we keep and how well we all respond to the market demands.
“We look forward to a mutually beneficial working relationship with Landsdowne as the development of Devonbosch shapes up,” he said.
The difference between a precinct specialist and other types of managers is their understanding of the intricacies in how the Master Homeowners Association is governed and how the governance of the various body corporates under the Sectional Title Act ties in with the constitution of the Master Homeowners Association, said Kohler.
Jonathan Kohler, Landsdowne Property Group CEO
The main purpose of a “Master Homeowners Association” is to oversee and manage the affairs of a large community or development, and to ensure shared spaces and amenities are well-maintained for the benefit of all members. These include security entry points, lifestyle centres, parks and play areas, pavements and roads.
“More residents will be appointed as Trustees to the various homeowner associations as the developments are built out and Landsdowne has the experience in balancing the interests of the developer and residents,” Kohler said.
Landsdowne will manage the finances of the Master Homeowner’s Association and all sub-homeowner’s associations as well as body corporates within the Devonbosch precinct. An on-site estate manager has been appointed to ensure the smooth running of operations.
In addition, Landsdowne will manage the commercial precinct, handle tenant billing as well as manage budgets as, and when development phases are rolled out.
Devonbosch is a large precinct, measuring 220ha in size, with 20ha of phase one development rights approved. It will include more than 600 luxury apartments when completed, with another 3 000 homes planned. On completion, the mixed-use precinct will create employment for more than 10 000 people.
The phased development will take a whopping 10 to 20 years to complete, depending on demand. The apartments and penthouses with mountain views measuring from 56m2 are priced from R2.495m.
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