Front row, prime coastal location with unobstructed views and cutting-edge architectural design hits the spot for high end buyers seeking the ultimate residential property destination.
At the new Sibaya precinct, midway between uMhlanga and King Shaka International Airport, on the KwaZulu-Natal North Coast, the launch of a prime parcel of land with panoramic sea vistas and only 45 land opportunities has taken the market by storm. Simply by word of mouth over 80 percent of the 1000 to 2000sqm plots have sold – starting at R4.2 million with the prime sites fetching prices of R10.5 million, says Carol Reynolds, Pam Golding Properties area principal for Durban Coastal.
Described by exclusive marketers Pam Golding Properties as the jewel in the Sibaya crown and comprising a total of 8.78 hectares, this prime parcel of land is being hailed as setting a new benchmark for prime real estate in the region.
Says Reynolds: “These selling prices equate to over R4 000 per square metre for vacant land, compared with a going rate for the KZN North Coast region of approximately R2000 per square metre a year ago. The high demand for the northern KZN coastal belt between Durban North and Umdloti and the lack of available stock, has resulted in the virtual doubling of vacant land prices over the past six months.
“Under the management of Tongaat Hulett, this exclusive, premium lifestyle estate promises to be ‘the best address’ in KZN and arguably in South Africa, with the top echelon of KZN and Gauteng investors snapping up the land via word of mouth ahead of the official launch. The demand has been overwhelming and it is not surprising that we have very few sites left for sale.”
Says Dr Andrew Golding, CE of the Pam Golding Property group: “This new tranche of limited plots of land, known as Signature Sibaya, places the KZN province in a new league, competing with the likes of Cape Town and with an average selling price set to exceed that of Zimbali. In fact, some of the purchasers are relocating from nearby Zimbali to become part of this exclusive enclave which faces across a green belt directly to the beach and ocean.
“The KZN North Coast is fast becoming a destination of choice for families moving away from traditional suburbs of Durban and for Gauteng buyers, including those commuting weekly on business who now opt to acquire a home in a luxury estate. While these upcountry buyers previously purchased holiday homes, now they are living in this prime coastal belt and travelling to the workplace as required while their families are securely ensconced in a highly appealing contemporary lifestyle estate.”
The Sibaya precinct has become the most exciting growth node on the North Coast, with a mix of residential, recreational, resort, commercial and retail components, surrounded by incredible natural forest and is set to become the ultimate destination to live, work and play, a place where one can reconnect and rediscover. Upmarket boulevards carefully landscaped and tastefully designed will offer residents the perfect combination of style and convenience.
Adds Dr Golding: “The area is mushrooming with over R5 billion’s worth of investment expected to pour into the property market over the next few years and with Sibaya itself expected to pump a further R8 billion into the economy. The demand is high, sentiment buoyant and as a result this particular destination is bucking the general national market slow-down currently experienced.”
Pam Golding Properties says some of the buyers in Signature Sibaya are from Gauteng – the balance from KZN, with a healthy mix of end users, investors and developers. Most buyers are in their late 40s to early 60s, with children who have completed schooling or left home. Two buyers to date have acquired property for leisure use. Indications are that the new owners will invest a further R15 million to R20 million in building their upmarket dream homes.
The developer of Signature Sibaya is Signature Residential Developments, who have appointed Tongaat Hulett as the development managers. GAPP Architects and Urban Designers, in conjunction with Iyer Design Studio, are the appointed development architects and urban designers responsible for the architectural design guidelines and the design review process, while Garlicke and Bousfield are the conveyancing attorneys.
The architectural look and feel is understated, contemporary elegance with the use of raw materials and precious metals. Glass, steel and timber create an organic feel, with sea views being the overriding feature and appeal of the estate, capitalised on with three-storey luxury residences.
The architectural guidelines are based on sustainable principles which incorporate water recycling, dual flush toilet systems, mandatory solar or photovoltaic water heaters, energy-saving lighting, gas stoves, waste separation and disposal for recycling, as well as the use of local indigenous plant species.
Residents will enjoy a sophisticated, managed, secure and convenient way of life in a tranquil and totally private environment. Clean lines, cantilevered forms, screens as solar protection, horizontal overhangs and the integration of water will see the creation of bespoke residences which integrate inside and outside spaces.
Apart from state of the art security, which will include biometric access control, thermal cameras, electrified and monitored fencing and a gatehouse with 24 hour guards, the landscaping and maintenance outside of private properties will be undertaken by Signature Management Association. A fibre service to each home will be provided for security as well as fire alarm connectivity and telecommunications. Homeowners will also enjoy direct access to the broader Sibaya Hawaan Conservation Trust area via wooden walkways that will lead down to the nearby beaches.
Priority has been given to privacy with large stands, limited coverage and specifically demarcated building footprints incorporating heavily landscaped gardens complementary to the adjacent natural coastal forest, streets and open spaces. All buildings will be designed to ensure maximum sea views through protected view lines. Provision is made for staff quarters to be incorporated into the main dwelling of homes in the new development. Signature Sibaya is also pet friendly, in accordance with the management association’s guidelines.
Completion of installation of services is anticipated for the end of July 2017 with transfer in a similar time frame. The roads within the estate will be clay and cobbled paving, further adding to the appeal for residents. A new, wide, landscaped boulevard with direct access to Signature Sibaya is to be constructed off the existing traffic circle on the M4 into the Sibaya development, which will eventually link up with the M27 to the north.