Neighbourhood CT - 06 September 2015

PROPERTY & LIFESTYLE

NeighbourhoodRSA

Perfection,living under the mountainTurn to page 08 for more

06 SEPTEMBER 2015

Nationally, the largest property marketplace in South Africa

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02 DINNER & A VIEW 08 SPOTLIGHT: VREDEHOEK 13 BUILDING INSURANCE GREENMARKET LEASES14

Neighbourhood2 06 SEPTEMBER 2015NEWS & LIFESTYLE

PUBLISHED BY THE CREATIVE GROUP

9 6th Street, Parkhurst, 2193011 476 6293thecreativegroup.info

EDITORIAL TEAM

Group Editor: Claire Barnardo [email protected] Creative Director: Mark Peddle

ADVERTISING SALES: Visit yourneighbourhood.co.za or call 087 828 0423

Sales & Marketing Manager: Michèle Jones [email protected] Manager: Dylan Rothschild [email protected] (Editorial & Property Advertising): Lucea Goosen [email protected]

Editorial Consultant: Bridget McNultyChief Copy Editor: Yaron BlecherCopy Editor: Charis Le RicheArt Director: Leah de JagerDesigner: Megan CooperOnline Editor: Lauren Joubert

THE CREATIVE GROUP CEO: Shaun Minnie [email protected]

WORDS: KIT HEATHCOCK

IMAGES: SUPPLIED

TASTE FOR YOURSELF:

De Grendel021 558 7035degrendel.co.za

Buitenverwachting021 794 3522buitenverwachting.com

Blue Water Café021 783 4545imhofffarm.co.za

De GrendelPanoramic distant views of Cape Town and Table Mountain are just part of De Grendel’s attraction. Chef Ian Bergh prepares delicious seasonal food that is fairly uncomplicated, using local artisan produce. The menu is a journey of what’s in season and, without fancy titles and buzz words, just lists the principal ingredients of each dish. Don’t be deceived by this unpretentious approach – this is fine dining both in its flavours and presentation – definitely the place to choose for a celebration.

For your viewing pleasureDelicious food is made even more memorable when there’s a stunning view to enjoy between courses

Spring is a time to get out and about, leave behind the cosy fireside and embrace wide

open horizons. On the food front what better way to celebrate spring than to find a restaurant with both fantastic views and a hands-on take on seasonal food. You will be able to savour the flavours of the new season while you feast your eyes on fresh landscapes. There are so many gorgeous views around Cape Town that it was hard to pick just three restaurants, but these really have spectacular views and the food is well worth focussing on too.

Blue Water CaféIf you want a venue with a gorgeous view where you can take the whole family, you can’t do better than Blue Water Café at Imhoff Farm in Kommetjie. The terrace looks out over the fields to Noordhoek beach and the Chapmans Peak mountains. Younger kids can play on the jungle gym, explore the farm and look at the animals, while adults enjoy a glass of wine or a craft beer and their excellent wood-fired pizzas, calamari, salads and gourmet burgers.

BuitenverwachtingThis historic wine estate has a beautiful Constantia Winelands setting and the views from the glass-walled dining terrace are spectacular, looking over vines towards mountain slopes. Chef Patron Edgar Osojnik has a masterly touch, whether you go for his fine dining creations or choose his classic Caesar salad, more rustic slow-roasted lamb, or Chalmar beef. Don’t miss his chocolate variation for dessert if you’re a chocoholic, but also look out for inventive seasonal dishes that change according to available ingredients.

If it’s a harbour atmosphere you’re after

then head to the V&A Waterfront. You’ll

also have Table Mountain right ahead.

Try the Greek Fisherman for seafood

delicacies and Mediterranean cuisine. Or

the City Grill Steakhouse for perfectly

cooked steaks. Right on the water’s

edge is Meloncino’s which is perfect for

authentic Italian food.

sweet homeHome

A t the start of the year we were still happily living in our rented two-bedroom

apartment. We loved the place like it was our own and it was a seamless living space. But our busy toddler (never mind all the baby gear) had started to shrink the flat dramatically. And we began thinking about a possible bigger place with a garden.

The reality was that there was very little stock of what we wanted in our area. That coupled with the fact that buying a house is such a major decision that I almost expected it to be impossible and difficult. Then I randomly caught up with our original agent. A few days later she invited me to view a place.

When I walked into the house I knew that it belonged to us. Besides that ‘feeling’ it matched our specs exactly, even down to the fact that it was near a primary school. But we weren’t the only ones interested…

In buying property one of the things that plays a huge role is timing. You have to move fast. With multiple offers in for this place, I thought it was going to be up to fate. Then I remembered a friend who worked for the bond originator

Editor’s ExclusiveCLAIRE BARNARDO

FIRST-TIME HOME BUYERS

34 is the average age

53% of ooba’s applications* *(July 2015)

ooba. That same afternoon he sent his top executive Yvonne to meet with us. She was excellent and mapped out all our options. Ooba then submitted our application to multiple banks and negotiated the best deal for us, at no charge. Literally within a couple weeks we bought our house on the terms that we wanted. We simply couldn’t have asked for a more magical home-buying story to tell. Hope yours is too.

Neighbourhood 306 SEPTEMBER 2015 NEWS & LIFESTYLE

ADVERTISING SALES: Visit yourneighbourhood.co.za or call 087 828 0423

Sales & Marketing Manager: Michèle Jones [email protected] Manager: Dylan Rothschild [email protected] (Editorial & Property Advertising): Lucea Goosen [email protected]

Ken Forrester Wineskenforresterwines.com

Coming from the restaurateur-turned-winemaker who pioneered the use of Mourvèdre

and Grenache in the heartland of Cabernet and Merlot, ‘The Renegade’ is perhaps a fitting name for the entry-level Rhône blend from Ken Forrester Vineyards, situated on the scenic Winery Road outside Stellenbosch.

“When we started making Grenache in 1996 it had all the attributes of great Pinot Noir. But nobody was interested, and nobody could pronounce it,” chuckles Ken Forrester. “It has since come into its own and people are beginning to discover it now.”

Although perhaps more famous for his remarkable Chenin Blancs, Ken Forrester has carved out a formidable reputation for working with grapes such as Mourvèdre, Shiraz and Grenache Noir. All varieties that thrive in the warm Mediterranean climate of the southern Rhône valley… and in corners of the Stellenbosch winelands, as he has since discovered. “You should be planting what works on your soil,” says Forrester, who farms

50 hectares of his own land, and leases another 38 hectares on neighbouring properties. “Our soils here are generally too poor for Cabernet and Merlot. But Rhône varietals don’t need fertile soils.”

Forrester also applies his magical Chenin touch to the white wines of the Rhône, particularly Viognier and Roussanne. This last is typically blended with the grape Marsanne, but Forrester bottles his as an unusual single varietal.

“It’s a blend of Roussanne and Roussanne… because we have no Marsanne,” booms Forrester with a laugh. “Nothing clears the mind like the absence of alternatives!”

The Roussanne is part of his Cellar Exclusives range - wines that are only available from the farm, where the cosy tasting room includes the cool barrel cellar and a shady terrace. “We see it as a

reward for the people that make the effort to come out to the cellar,” says Forrester.

The quirkily named ‘Three Halves’ also forms part of this range, blending powerful Mourvèdre with the spiciness and aromatics of Shiraz and Grenache. The winery’s flagship Rhône blend ‘The Gypsy’ follows a similar recipe, but with Shiraz and Grenache dominating the red

The Rhône RangerStellenbosch may be famous as the home of Cabernet Sauvignon, but for Ken Forrester its Rhône-style blends are the spice of lifeWORDS: RICHARD HOLMES IMAGES: SUPPLIED

Nothing clears the mind like the absence of alternatives!

The blend adds a complexity that

is greater than the sum of its parts

mix. “I would love to do Grenache on its own as a wine, but we’ve always managed to make a better wine by blending,” says Forrester. “The blend adds a complexity that is greater than the sum of its parts.”

50%25%

25%

Mourvèdre

Grenache

Shiraz

Three Halves:

Neighbourhood4 NEWS & LIFESTYLE 06 SEPTEMBER 2015

Neighbourhood 5NEWS & LIFESTYLE

Q: CanyoutellusabouthowyoumetatAlvinAiley?

Linda:We met at Ailey in 1997 when Glenn joined the Company. We had the same circuit of friends but we’d never met before. That drew us closer together, not to mention we became close friends as well. Then we went out salsa dancing one day… Yes all he had to do was dance to salsa!

Glenn:Well I thought Linda had a great pair of legs from the get go… But it was when we went salsa dancing that the sparks flew for us!

Q: Hasitbeenchallengingtoworktogetheraswell?

L: Life itself is challenging. If you make it hard it will be hard. But if you work on it, it won’t be. Glenn and I built a relationship on communication. We always try to be honest with each other, and this allows us to work together. We focus on the other person’s interest not just our own. Patience and love work hand in hand.

G:Finding the balance between work and home is essential. The challenges of

T here are some dance experiences that make such an

impression that they leave you completely moved and in awe. Alvin Ailey is one of those – it ranks right up there as my number one. I spoke to dancers Linda Celeste Sims and Glenn Allen Sims, about their on (and off ) stage true love.

SEE FOR YOURSELF:

Johannesburg,TeatroatMontecasino3-13SeptemberCapeTown,OperaHouse,Artscape16-20SeptemberBookatComputicketbycalling08619158000orvisitcomputicket.com

Be astoundedWORDS:CLAIREBARNARDO

IMAGES:SUPPLIED

World-renowned Alvin Ailey American Dance Theater is in town

ARTISTIC DIRECTOR ROBERT BATTLE SHARES WITH US WHY IT’S SO MEANINGFUL TO TOUR IN SA

What do you love about coming to dance in South Africa? TheculturalrootsofAlvinAileyAmericanDanceTheaterareinAfrica.AlotoftheworkthatwedoisalsorootedinthetraditionofAfricandanceandculture.EveninRevelations:someofthemovement,youcanseeadirectrelationshiptothebloodmemoriesofwherewecomefrom.Aileyisnowoneofthemostprominentandrespecteddancecompaniesintheworld,whichparallelstheprogressandachievementsofsomanyAfrican-Americanswhohavehadtoovercomeslavery,segregationandoppression.

What makes your visit so special? After17yearsweareback.ThefactthatsomanyyearsagoweperformedinSouthAfricaaftertheliftingoftheinternationalculturalboycottfollowingtheendofapartheid,makesitveryexcitingtoreturn.Andthenyouthinkthatnotonlyareweperformingonthestageanddoingmanymarvellousballets,buttheworkthatissomuchacornerstoneofthiscompanyiswhenwestepoffthestageandintothecommunities.Wedooutreach,andreallyhaveanimpactthatislong-lastingonsomanyyoungpeopleinthecountry.

Which outreach programmes will you run during your local visit? Wewilldolotsofmasterclassesandworkshops,butit’sreallyaboutyoungpeoplewhomaynototherwisebeexposedtothiskindofdance.ThatwasimportanttoAlvinAileyfromtheverybeginning.HegrewupinRogers,Texas,inarepressivesouth.Whenhewasstudyingthereweresomeplacesyoucouldn’tstudyifyouwereAfrican-American.Andifyouwerealsopoor,youdidn’talwayshaveaccesstothingssuchasdance,learning,andbeingapartofthetransformativepowerofthework.Sothat’sreallywhatwe’regoingtobefocusedon.That’salwaysbeenthebackboneofthiscompany,theoutreachthatwedo.AndwewilldoplentyofitinSouthAfrica.

What’s your message to aspiring South African dancers? Startwhereyouare.That’swhatAlvindid.That’swhatIdid.Don’twaitforsomebodytotellyouthatyou’readancer.Youhavetodecidethatprettyearlyon,andthenyouhavetogetonwiththebusinessofdoingit.Soifitmeansthatyoujustimitatewhatyousee,oryoumakeupyourownwaysofpractisingwhatyouthinkitmeanstobeadancer,thenyoustart.Youstarttoinventit.Buildit,anditwillcome.Noteverybodyhasthesameaccesstothings,buttheaccessyouhavetoyourownimaginationisthemostpowerfulassetyouhaveinbecomingwhatyouhopetobe.

working together have actually made us a stronger family unit, because we are with one another all the time. This is a huge blessing that many don’t get in this lifetime; the ability to share a passion for dance with someone who loves dance just as much as you.

Q: WhatarethehighlightsofdancingforAlvinAiley?

L: Dancing with Ailey has been a great journey. Travelling and seeing the world has made me a better person. I’ve been able to work with some amazing choreographers. I believe that Mr Ailey was a genius. Highlights would be dancing in the ancient Herodes Atticus under the Acropolis in Greece and performing Mr Ailey’s timeless Revelations outside, while staring up at the stars.

G:The highlights of dancing with Ailey are being able to travel worldwide and share the gift of dance with many cultures. The company is really special because it’s a repertory company: it allows the dancers to dance many different styles in the course of an evening, which keeps me engaged and

challenged. One feature that honestly stands out was being able to dance the must-see signature work of the company, Revelations.

Q: Whatisyourpersonalcredotosuccessintheartisticworld?

L: I believe that if you work hard you can do anything. Focusing on taking care of your body and eating well will help you stay healthy physically as a dancer. Also taking extra time to keep the body healthy with things such as pilates, floor barre, stretching a lot and taking baths. All these things will help prevent injuries.

G:To never stop learning and keep the mental attitude of a student. But more importantly, remember to keep reinventing yourself.

AlvinAileyAmericanDanceTheater2015SouthAfricanTour

06 SEPTEMBER 2015

Neighbourhood6 NEWS & LIFESTYLE 06 SEPTEMBER 2015

Locally, we’re also seeing an

increase in back-garden container offices as people find new ways to maximise their available space

We’re reaching the point now where it seems like every second person is

a freelancer, telecommuter or otherwise alternatively employed individual. This global trend towards more flexible working arrangements has been growing steadily for a while now. And along with it we’ve seen the rise of spaces such as ‘coffices’ (coffee shop workspaces) and hot desks.For many full-time part-timers however, there is a growing need to create flexible workspaces at home, and a traditional home office just won’t cut it.

Tracking global interior trends when it comes to office spaces operating out of homes, we’re seeing more and more pop-up solutions catering to the new nomadic employee. From offices in cupboards and trunks, to smart furniture solutions that allow people to keep their work and home lives separate, designers seem to love the challenge that this way of working poses.

Locally, we’re also seeing an increase in back-garden container offices as people find new ways to maximise their available space. This builds on the pop-up office trend that’s

Offi

ceP

od

WORDS: CHRIS REID IMAGES: IKEA AND OFFICEPOD

Working Smart

been around for a while now, with people buying prefab modules to create workspace anywhere. Seeing a demand for these products in the local space, OfficePod, a popular UK-based manufacturer, is even looking to move into the South African market in the coming months.

As more and more people ply their trade in the knowledge economy, these kinds of flexible workspaces are inevitable. Balancing work and life is tough enough: the sentiment is that the right kind of home office set-up goes some way towards helping to do just that.

Ikea

Neighbourhood 7NEWS & LIFESTYLE6 SEPTEMBER 2015

PHDS 32584/15

FOR BOOKINGS

+27 (0) 21 880 [email protected]

proteahotels.com/stellenbosch

EAT. SLEEP. TRAIN.

Terms and Conditions apply.

A FRESH, NEW FEELWith recently refurbished rooms, GUESTS can expect a new experience while still being able to enjoy the breath-taking scenery.Indulge in a unique dining experience with a mouth-watering breakfast buffet in the Cultivar Restaurant and an à la carte menu in Die Wingerd Restaurant.With magnificent views of the Helderberg mountains, the Protea Hotel Stellenbosch is an exclusive Winelands wedding destination. With a choice of 5 reception venues, we have tailor-made packages to suit your every need.

COMFORT WITH A VIEW

Neighbourhood8 06 SEPTEMBER 2015SPOTLIGHT

Not only stunning views, Table Mountain on your doorstep and a laid-back café culture: Vredehoek is also convenient

VredehoekSpotlight on

WORDS: KIT HEATHCOCK IMAGES: ANTON SCHOLTZ, SUPPLIED & GOOGLE

Neighbourhood

Ask a resident about the characteristics of Vredehoek and sooner rather than later, with a wry smile, they’ll mention the wind. The suburb gets the double-edged benefit of the ‘Cape Doctor’ in a boisterous mood. “During summer the wind adds some comedy to our daily lives,” adds Estelle. “Watching people trying to negotiate the wind can be amusing. But I think the wind keeps the property prices a bit lower than the rest of the City Bowl, so that’s a good thing for most of us.”Plenty of families live in Vredehoek too, and they are spoilt for choice by small parks with well-kept jungle gyms to visit with the kids. And of course the mountain is a playground for keen mountain bikers. The Grass Boots soccer club on the open playing fields off Vredehoek Avenue is another outlet for young energy, as is the new skate park under Mill Street bridge. As far as schools go, Herzlia High School has a fine campus with great views on Deer Park Drive. St Cyprian’s is just over the border into Oranjezicht and there are several good pre-schools.

If an unpretentious but hip neighbourhood, with amazing views and a side order of the south-easter is your idea of home, head to Vredehoek for a view of the city.

Vredehoek has come a

long way in the last 15 years, from being

the City Bowl’s slightly shabbier yet more affordable

neighbourhood, to being a trendy and desirable area for

young professionals to live. Only a stone’s throw from the CBD, it’s a

quiet residential suburb with stunning views in every direction. Driving around the peaceful streets of mostly low-rise apartment buildings on the slopes below Devil’s Peak, there’s a sense of openness and light. Of being slightly removed from the city bustle but close enough to dive into it on a whim, with the shortest of commutes to work.

The big draw for many is Vredehoek’s proximity to mountain trails. “The mountain is so dominant here that it’s just about everywhere you look, so it really is Vredehoek’s main resident,” says Estelle Visagie. “The minute you’re on the mountain you feel a million miles from town, but with an awesome view of it. Like all Capetonians, I love my mountain.” It’s only a short uphill

walk to access a number of hiking and mountain biking trails. Either up and

around Devil’s Peak to the block house, or starting from Deer Park,

where there’s a lovely shady picnic area and trails, both

easy and challenging, for leisurely dog walkers

and serious hikers.It’s a young

neighbour-

hood with a laid-back café culture and a

friendly, funky vibe. Some say that it feels like Sunday everyday here, with café tables just as busy in the week as at the weekend, freelance professionals working on their laptops or holding relaxed coffee meetings, and the streets alive with dog walkers and runners. “I love the diversity of people. And the proximity to everything,” says Natalie van der Walt, who lived in Vredehoek for five years before moving to Oranjezicht a year ago. “We had our neighbourhood shop, laundry, bottle store. My beautician, our local DVD store and a choice of restaurants were all within walking distance.”

Derry Street is the fashionable but low-key hub of the area for cafés and local shopping. At the top you’ll find the local Spar, Red Sofa Café, Carlyles, The Sidewalk Café and Bella Italia, as well as the public library. Head further down the hill to Upper Mill Street for chic natural cosmetics from Ecoco, and the well preserved and quaint Victorian houses that add an unexpected dash of historic character to this otherwise unapologetically Art Deco suburb. And it’s not too far for the energetic to walk to the Gardens Centre; getting back up the steep hill with bags of spoils from the

delis and trendy boutiques might be more of a problem, but there’s

always the MyCiti bus to ride home again.

Watching people negotiate

the wind can be amusing. But I think the wind keeps the property prices a bit lower than the rest of the City Bowl ESTELLE VISAGIE, RESIDENT

906 SEPTEMBER 2015 SPOTLIGHT

Neighbourhood10 SPOTLIGHT

Plenty of families live in Vredehoek too, and they are spoilt for choice by small parks with

well-kept jungle gyms to visit with the kids

4%5% of the total rental listingsof the interest

R6,95mAverage asking price for a typical

four-bedroom house in Vredehoek

R13,500Average monthly rental for a two-bedroom apartment

R2,55m 42% of properties for sale are flats, at an average asking price of

Property prices in Vredehoek

06 SEPTEMBER 2015

Properties for sale in Vredehoek comprise 4% of total sales listings in the Cape Town City Bowl area. They receive:Demand

Neighbourhood

Private Property’sPrivate Property’s

Neighbourhoods

Find a home and a lifestyle that suits you.

A home for everyonewww.privateproperty.co.za

Great food and wine culturePaarl to Franschhoek

NEWInitiative

11SPOTLIGHT

Derry Street is the fashionable but low-key hub of the area for cafés and local

shopping

06 SEPTEMBER 2015

EAT LIKE A LOCAL

Red Sofa for fabulous breakfasts and

coffee

Carlyles for great pizzas and a friendly

local bar

The Sidewalk Café for quirky brunches

and casual dinners

Woodlands Eatery for gourmet pizzas

Con Brio Bistro for good food and a

family-friendly vibe

CARLYLES

THE SIDEWALK CAFÉ

Neighbourhood12 6 SEPTEMBER 2015PROPERTY NEWS

“My Journey of Learning Begins...”

WCED Independent School Reg No. 13/3/1/125 • Whole School Umalusi Accreditation No. 13SCH0100021/22 • Dept of Social Development Reg No. 15/5/13/2/2 C10506

PRE-PRIMARY and PREPARATORY: 91 Raats Drive & 50 Wood Drive, Parklands • SECONDARY: 1 College Avenue, SandownEMAIL: [email protected] • WEB: www.parklands.co.za

Visit us at www.parklands.co.za or Call 0861-EDUCATE (338228) / 021 5212700

Christopher Robin Pre-Primary was established in 1980 and offers a nurturing, positive environment where children have a sense of belonging. Our Pre-Primary provides a safe and emotionally secure setting that encourages the development of the whole child:

emotionally, socially, physically, and intellectually. The child-centred curriculum is embedded within indoor and outdoor activities that support our goal to provide a learner-friendly and fun place to grow and learn. Throughout the day, children have opportunities to investigate, discover, and express themselves. The curriculum includes language experiences, imaginative artwork, structured and unstructured play, creative movement, and science exploration. Meaningful experiences are provided for children to learn more about

themselves, their families, their communities and other cultures.

We know that you want the best for your little one. You want them to feel loved and secure whilst having the opportunity to explore their independence and to build their foundations for learning. Because we understand this, our Crackerjacks unit is overseen by nurturing staff who provide an environment that is warm, caring and as home-like as possible. Small groups ensure individual

attention and provide parents with peace of mind.

FOCUS ONPRE-PRIMARY

Excellence in Education from Grades 0000 to Grade 12

Neighbourhood 1306 SEPTEMBER 2015 PROPERTY NEWS

When purchasing insurance the

full replacement value should be considered including building costs, cost of removing debris and other possible costs. The value of this insurance can differ vastly from purchase price of a home and from municipal value of the property

ANTON OSSIP, CEO:

DISCOVERY INSURE

WORDS: LISA DEWBERRY IMAGE: ISTOCK

As weather patterns change a rise in likelihood of property damage makes building insurance an essential for any property

don’t risk a thing

With weather patterns changing over the last few years, many regions have

been experiencing increased extreme conditions such as floods and gale force winds, causing a rise in likelihood of property damage due to fire, flood or falling trees. Alex Bartels, national sales manager: Ooba Insurance, says a home is probably an individual’s biggest asset and when an unforeseeable event such as a fire or flood strikes a property, tremendous costs may result so having building insurance is essential to rebuild or repair the property immediately.

“If a home is bonded, the bank requires continued payment of the bond, even if the property is unliveable. Putting buildings insurance in place during a bond application process is mandatory and the lending bank will insist on seeing an approved insurance policy on the property before they allow registration to take place,” he says. Bartels says the correct cover should be given ensuring all information is disclosed about the property including factors that change the risk of the property such as roof type and whether the property is

occupied. He says if improvements are made to the property, insurance should be increased in line with the increased value. Anton Ossip, CEO: Discovery Insure, says when insuring property, the homeowner needs to consider if there’s sufficient cover and the amount the property is insured for is adequate to avoid being underinsured when having to repair or replace anything. He says there are different costs to consider when determining the value of building insurance. “When a house burns down there are not only costs to rebuild it, but also costs to remove the rubble before work can start. When purchasing insurance the full replacement value should be considered including building costs, cost of removing debris and other possible costs. The value of this insurance can differ vastly from purchase price of a home and from municipal value of the property,” says Ossip. He says homeowners should understand what risks are covered, which aren’t and what criteria have to be met for cover to be implemented so if the time comes to

claim, they know what to expect from their home building insurance. Ossip says it is advisable to have a qualified financial adviser to explain terms and conditions of cover and to have them assist with a claim.

Insurance:

NeighbourhoodNEWS & LIFESTYLE14 06 SEPTEMBER 2015

WORDS: MEAGHAN ESSEL IMAGE: PAUL BRUINS

In an effort to increase vibrancy and maximise the potential of one of Cape Town’s oldest public spaces, Greenmarket Square has been approved for a lease agreement

The marketOriginally known as ‘Burgher Watch Square’, the national monument is a hub for pocket-friendly curios and African crafts. On an average day, you can pass by the square and see an array of colourful characters at the helm of their stalls and eccentric produce scattered from top to bottom. Doubling as a form of employment for entrepreneurs as well as entertainers, the square also provides a constant flow of customers for the nearby shops, restaurants and cafes surrounding the market.

The leaseThe City approved the 5-year lease in order to revitalise the heart of Cape Town’s business district. Known as a popular place for clothing, glassware, fabrics, general curios and many other odds and ends, the Greenmarket Square vendors sometimes face a disheartening quiet out of season. According to last year’s State of Cape Town Central City Report, there are 8040 people who make a living from informal trading.

Greenmarket Square and the lease

Garreth Bloor: Mayoral Committee member for tourism events and economic development for the city of Cape Town has said that the Greenmarket Square and St George’s Mall are incredibly important economic, social and cultural heritage spaces. Bloor maintains that interventions are required to revitalise these spaces and to ensure that they remain important and inclusive meeting places for all Capetonians, that they unlock investment to drive economic opportunities, and that they become financially sustainable assets.

Previous attempts to restore Greenmarket Square to its former glory saw the city taking back ownership and traders paying ‘rent’: this was the start of permits for trading and cleaning up the image of the square. Though it went well, the square has yet to see a significant improvement from this initiative, thanks to lagging public space management, capacity, resources, and a lack of partnerships. This lease aims to better

manage Greenmarket Square for the benefit of the traders, and their ongoing development.

What’s in store The first phase of the lease will see the start of various partnership management models put to the test and is expected to take two years. The second phase is set to begin in 2017 and involves the development of a proposed long-term public management model as well as a precinct master plan. Part of the plan includes the restoration and regeneration of this public space, with completion set for 2019. Bulelwa Makalima-Ngewana: CEO Cape Town Partnership, says, “Appreciating the need to create and maintain excellent public spaces, we share the City’s vision to realise the potential of not only Greenmarket Square, but all significant public spaces in the broader city – both from an economic perspective and for the benefit of all Capetonians.” Bring on the new Greenmarket Square and all it holds for the city.

Analyse itPATRICK CAIRNS

The ups and downs of interest rates

The average prime

lending rate in South Africa since 1979 is just over

15,0%

Until the most recent market turmoil, most analysts were expecting that the US Federal

Reserve would announce an increase in interest rates at its September meeting. This would be the first time that the US had raised rates since 2006.

Given the concerns about the global economy, however, this may well be pushed back. The hike may only come in November, or possibly even wait until next year.

Nevertheless, the talk is still about when, rather than if, interest rates will go up. In South Africa, a large part of the Reserve Bank’s decision to lift the repo rate by 0,25% in July can be put down to wanting to move ahead of the Fed.

Many people would have heard this talk, and probably have a good idea of what it means. Higher interest rates mean that home loans, personal debt and car repayments are going to be higher. People with cash investments will see higher incomes, but returns from the stock market will likely be lower.

However, very little has actually been said about the second part of the interest rate equation, which is how high interest rates are in the first place.

In the US, the base rate is currently 0,25%. And even when the fed starts lifting rates, it is likely to do so in small increments.

Locally, the repo rate is at 6,0% and the prime lending rate at 9,5%. Only seven years ago, in the middle of 2008, the repo rate was at 12,0% and prime at 15,5%.

So even though we are on the way up, we are really still in a low interest rate environment. It’s not ideal to be raising rates at all in a struggling economy, but we are hardly heading into territory where interest rates are going to cripple us.

The likelihood is also that the rate hiking cycle will be very limited. Given the poor performance in the local economy, RMB Global Markets recently suggested that the Reserve Bank may only raise rates another 0,25%. It could even start cutting rates as early as next year.

So the important thing for South Africans is to see things in context. In a way the Reserve Bank has had little choice – it had to lift rates in an environment where the US is going to hike. Otherwise it puts the rand and our bond yields at risk.

It has however acted prudently. It has to be seen to be doing something, while at the same time actually doing very little. That will probably stay true, and interest rates here will remain low.

Evidence of the impact the

power station will have on the area is already becoming noticeable JOHN COOPER: HARCOURTS OYSTER

WORDS: LEA JACOBS IMAGE: GOOGLE

Will life in St Francis Bay be speeding up?

Many residents are holding their collective breath, waiting to hear whether a major industrial development – which could have a positive economic

impact on this sleepy village – is going ahead

Things are hotting up in the beautiful village of St Francis Bay where, according to Lightstone

statistics, 101 transfers have taken place over the past 12 months. So far this year, 43 freehold homes and 20 sectional title units have been registered. These figures exclude any sales which have been concluded, but haven’t yet been registered at the deeds office.

John Cooper, principal: Harcourts Oyster, says interest in property in the area is rising and sales in the first six months of this year have been far better than in previous years. He attributes this to lower interest rates and the fact that property in the village offers far more value than that in places such as Hermanus, Plettenberg Bay and Knysna.

The long-awaited announcement of Eskom’s planned nuclear power plant in nearby Thyspunt is also having a major impact on the property market.

“We are expecting a procurement announcement any day now and have been told that the construction of infrastructure as well as the plant itself will begin next year,” says Cooper. “Evidence of the impact the power station will have on the area is already becoming noticeable. Rentals have tripled and the amount of sales stock is shrinking. Sellers aren’t only less negotiable on price, many are withdrawing their homes from the market completely and are waiting to see how things pan out.”

Richard Arderne, principal: Pam Golding Properties St Francis Bay, says the agency’s turnover has been excellent since a devastating fire destroyed 76 homes in 2012.

“While the subsequent rapid rebuilding of homes has focused considerable attention on St Francis Bay and probably helped to generate interest and stimulate the demand for homes in this sought-after

1506 SEPTEMBER 2015 PROPERTY NEWS

area, as with many other coastal areas, we have seen an uptick in demand as the market turned. What is also positive is that plots have held their value.”

When asked if he believed a major construction project could affect the village atmosphere for which St Francis Bay has always been famous, Arderne said that while some holidaymakers may decide to stay away during construction, the fact that the location of the proposed power station is some 15km from the village means it shouldn’t affect those who live there.

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Neighbourhood 1706 SEPTEMBER 2015 MARKETPLACE

MARKETPLACEArea Guide Agency Guide

ATLANTIC SEABOARD

Bantry Bay 19

Camps Bay 19

Sea Point 19

Three Anchor Bay 19

CITY BOWL Oranjezicht 19

SOUTHERN SUBURBS Bergvliet 26

Pinelands 26, 35

WESTERN SEABOARD Atlantic Beach 18, 35

Big Bay 21, 25, 27, 28, 31, 32, 35

Blouberg 30, 33, 35

Bloubergrand 28, 31, 35

Bloubergsands 25, 32, 36

Bloubergstrand 21, 27, 30, 31

Century City 25, 27

Dolphin Beach 27

Eden on the Bay 30, 35

Flamingo Vlei 25, 32, 33, 35

Lagoon Beach 33

Melkbosstrand 21, 28,

Milnerton 25, 28, 31, 33, 35

Parklands 25, 26, 27, 28, 30, 31, 32, 33, 35

Royal Ascot 33

Sunningdale 27, 35

Sunset Beach 25, 32

Table View 30, 31

Van Riebeeckstrand 21, 25, 36

Waves Edge 26

West Beach 26, 28, 35, 36

WEST COAST

De Kom 36

Langebaan 24

Paternoster 36

Yzerfontein 35

NORTHERN SUBURBS Bellville 36

Boston 36

Goodwood 26

Plattekloof 23

BOLAND, OVERBERG

& HELDERBERG Franschhoek 22

Hermanus 22

Kwaaiwater 22

Pearl Valley 22

Somerset West 22

Val De Vie 22

Westcliff 22

Atlantic Beach Estate 18

BetterLife 34Chas Everitt International Property Group 19ERA Real Estate 30Jawitz Properties 31Nedbank 17Neo Estate 36Pam Golding Properties 22 - 25Private Property 11Rawson Properties 32 - 33Re/Max International Property Group 26 - 27Seeff Properties 28 - 29Sotheby's international Realty 20 - 21

Classifieds:Atlantic Beach Property Sales 35ERA Real Estate 35Jawitz Properties 35Property CoZa 35Rawson Properties 35Re/Max International Property Group 35Seeff Properties 35

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Neighbourhood CT - 06 September 2015

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