»
Jun 20, 2008:
The historic town of Tulbagh in the Western Cape is set to become the centre-piece of South Africa's own Napa Valley – the US's most successful wine-producing region - with the launch of a R1bn wine estate on the slopes of the neighbouring Witzenberg Mountains.
The Governor Tulbagh Wine Estate and Private Residential Club is a fractional ownership development which will operate as a wine estate and "six star" hotel. 120 hectares of the 220 hectare Governor Tulbagh Estate will be devoted to vineyards.
Dave Jennens of Lew Geffen Sotheby's International Realty says that after exhaustive research by the property developers, the area has been identified as having the ideal conditions for the production of wine, expected to rank on a par with the world's finest.
"The Tulbagh area offers exquisite scenery, is an ideal tourist destination, and now has the potential to become a world-class wine producing region. Farming operations at the Governor Tulbagh will make use of state of the art equipment and technology to ensure top quality wine," explains Jennens.
"The launch of The Governor Tulbagh, which is the first of several wine farms and developments planned for the region, is already generating serious attention amongst Johannesburg-based and foreign investors. We anticipate rapidly growing interest in the region as a whole and believe that investors who get in early will benefit significantly down the line," he says.
The first phase of The Governor Tulbagh consists of 10 villas, each comprising four luxury apartments. The development as a whole will be managed by a top-class international hotel operator.
"The Sheraton, Four Seasons and Kempinski are currently under consideration as the potential hotel operators for The Governor Tulbagh," says Jennens.
Fractions start from R244,500. In purchasing a fraction, investors will own a share of a share block company, which in turn owns the villa housing the apartment.
"Apart from the capital returns they can expect on any future resale of their fraction, investor's' ownership will entitle them to two x two-week holidays per year, shares in the rental income generated by the apartment as well as an annual allocation of some 70 cases of world class wine.
The luxury apartments will each offer two bedrooms, two bathrooms, a gourmet kitchen, and a private pool.
The entire development will be eco-friendly, making use of self-generated electricity and recycled water, and with zero carbon emissions.
"The estate will also benefit the area itself and the surrounding communities with the formation of The Governor Tulbagh Community Development Trust. Housing, schooling and medical facilities will be established for the benefit of the locally-sourced staff, and the wine co-op will offer skills training and subsequent shareholding options," concludes Jennens.
For more information contact Dave Jennens on 021 556 5600 or click here to visit the website.
"Apart from the capital returns they can expect on any future resale of their fraction, investor's' ownership will entitle them to two x two-week holidays per year, shares in the rental income generated by the apartment as well as an annual allocation of some 70 cases of world class wine.