select
|

Luxury retirement estate to be developed in Paarl


Artist’s impression of the Manor House, a new retirement village to be built in Paarl.


A new luxury retirement development with many on-site facilities including dining room, a library, nursing stations on each floor and Wi-Fi and DSTV access, is being built in Paarl to service the growing number of retired people who want to break from city life.

“Manor House is a country home-inspired lifestyle development for over 50s in Hospital Street, Paarl, intended for the active to midcare market. Currently being sold off plan, it offers residents 24-hour security and more lifestyle amenities than most would currently have at home,” says Chris Cilliers, winelands principal of Lew Geffen Sotheby’s International Realty.

“People are recognising the long-term value of these kinds of developments, investing long before retirement age and renting them out until the time comes for them to move in.”

Cilliers says that investing in these developments at an early stage gives people the opportunity to plan for their old age and ensure that their capital investment holds its value, and often, even increases in value. They can rent out or sell their family homes for income when they retire, and enjoy being part of a retirement community when it is most needed.

Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty says: “Traditionally, people moved into retirement facilities after retiring at 65, but the growing trend of lifestyle estates is resulting in South Africans moving into retirement communities at a younger age while still enjoying an active lifestyle.”

Geffen says that those who invest in retirement communities are wisely securing more than just another property; they are buying into a solid asset class that guarantees investors financial returns.

“But selecting the right property for retirement can be a daunting prospect as well as an emotional minefield. This is compounded by the fact that the strong demand in SA for secure lifestyle retirement developments often outstrips supply and many retirement complexes have long waiting lists. There has never been a greater need than now for new developments like Manor House.”

Jean-Pierre Nortier of Devmark Property Group, which is developing Manor House in Paarl, says: “People often want to downscale after their children leave home, and don’t want to wait until they retire. We also recognise that there are different stages of retirement, and one package certainly does not suit all, which is why we offer a lifestyle product that adapts to lifestyles as they change.”

Manor House is Devmark’s eighth retirement development in the Western Cape.

Nortier says it offers various packages which can be adjusted as needs change and, with a nursing station on each floor, people won’t need to move out of their apartment if they need assisted living or frail care.

Doctors’ treatment rooms are also available and residents also have the option of meals, laundry and cleaning services being provided for them.

Manor House consists of 38 studio, one-bedroom and two-bedroom units, all equipped with hobs, ovens and extractor fans, and investors buying off plan will have a choice of finishes from a preselected range. Communal areas include living and dining rooms that open up to a landscaped courtyard, a library and a patio with built-in braais.

Security features includes CCTV cameras, guards and underground parking with direct lift access, as well as 24-hour medical and emergency supervision,” says Nortier.

Unit sizes range between 44m2 and 63m, and prices vary from R935 000 to R1.359 million.

Says Geffen: “Many people want to retire away from the city and the most popular destinations are the coastal provinces, so it makes sense for these luxury retirement estates to be built there, and the Western Cape is especially attractive to retired people.

“Paarl is particularly sought-after because it lies in the heart of the winelands and it offers a small town pace of life, yet it’s just half an hour’s drive from Cape Town and a short hop to some of the region’s beaches and seaside towns.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK