Properties to the value of R226 million have been sold in only one year since the launch of Nooitgedacht Village in Stellenbosch.
The first owners of Village Walk have taken occupation of their houses and construction of the next 62 houses is starting. Only 15 houses are still available for sale in Village Walk.
The 25 hectare residential development adjoining historic Nooitgedacht Estate in on the R304 between the N1 and Stellenbosch has been acclaimed by UK newspapers, the Financial Times and also the UK Sunday Times, which named it among the world’s 20 leading property developments - while Sphere Magazine placed it as one of the top four properties in worldwide trend-leading wine regions.
This is according to Gerhardt Jooste, developer of the project on behalf of the Wirth family, owners of the historic wine farm Nooitgedacht, who says the village has already also proved a valuable investment for buyers. One of the first phases, Village Walk, has seen a growth of 43 percent in value in 12 months, and sales figures are outperforming most other developments in South Africa.
Buyers have come from eight different foreign countries including the UK, US, Germany and the Netherlands.
The village is on land abutting the 240 hectare Nooitgedacht Estate renowned for its magnificent 1 774 homestead and its illustrious past as the property of Cecil John Rhodes and Hendrik Cloete of Groot Constantia fame. It is among the most authentic traditional Cape Dutch architectural treasures in the Western Cape, and the estate remains a vibrant working farm producing premium wines and fruit for export to overseas markets.
Werner Wirth, eldest of the Wirth brothers and a prime mover in the development, says Nooitgedacht Village was the first of its kind where, in a traditional village setting, residents could enjoy the benefits of a historic wine farm, panoramic mountain views, and an extraordinary range of facilities.
These included a state of the art gymnasium, golf club membership, an equestrian centre, artists’ village, wine cellar, bakery and market.
Jooste says a low-level marketing drive had been overtaken by vigorous word-of-mouth. Stellenbosch residents, so far comprise 30 percent of buyers, with another 40 percent currently living in surrounding areas, wanting to be closer to the town.
A total of 174 sales have been concluded in the development, and in Village Square, the residential and commercial heart of the village. The first phase of 18 houses and 33 maisonettes were sold out within 60 days. In Village Manor, comprising exclusive large vineyard stands with exceptional views, only two stands remain unsold of the 19 that have been released for sale so far.
The first owners of Village Walk have taken occupation of their houses and construction of the next 62 houses is starting. Only 15 houses are still available for sale in Village Walk.
A new phase of 24 maisonettes facing the magnificent cascades in the 2.3 hectare park that is a central feature of the landscape, have been launched. The park is part of a massive programme that includes R6.3 million worth of landscaping and the planting of eight-metre-high trees along the entrance boulevard.
Jooste says the response to Nooitgedacht had gained ground as the Village took shape.
“The building programme for the homes is running parallel with the provision of the aesthetic features of the estate and the activity is drawing keen interest.”
He says the nature of Stellenbosch as a university town is changing with development of large office precincts such as the popular Techno Park. Stellenbosch is now the town with the most listed companies’ head offices in South Africa and as a result, it is drawing a residential component that includes families looking for accommodation in or near the town.
“Although some of the homes in Nooitgedacht are attractive as student accommodation, it is from the ranks of commercially active people with families that we expect the biggest proportion of our residents,” says Jooste.
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