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Thursday 24 January 2002 |
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A LARGE scale plan to develop part of Lady Grey Street as an enclosed predestrian shopping mall, has been proposed to the Drakenstein Town Council. The scheme is based on the premise that Paarl's Central business district is currently underutilised but viable, and needs to be repackaged as a modern shopping mall. According to planning consultant Jan Hanekom, property owners in Lady Grey Street are enthusiastic about the proposal, based on the closure of Lady Grey Street and construction of a double storey parking garage covering the street between Main Street and Verster Street. This will allow the redevelopment of ground level shop fronts in Lady Grey Street. An additional 5000 square metres of lettable space would be created. Ramps leading to the overhead parking area could be situated in Fabriek and Derksen Street, while atriums and openings between the overhead parking and shopfronts would admit daylight. "We need to give consumers a total shopping experience, so that we can bring them back to Paarl. Consumers want to shop where there is climate control, access control and ample parking," says Hanekom. "The lower section of Lady Grey Street, although not covered, should also be closed to traffic and redeveloped as a St George's Street type open walkway, with stands for informal traders. This could lead to a general upgrading of the area and its architecture, revitalising the Paarl CBD. And if one includes the Wamakersplein Centre (Pick 'n Pay) it becomes a sizeable mall of 30 000 square metres." "We have a large number of property owners and consultants on board, but need an undertaking from the Municipal Council that they would allow such a development." According to the municipal manager, Jacques Carstens, the Council is positive about the project. "However, closure of Lady Grey Street cannot be considered before a study has been done on the impact of the proposal on traffic, informal trade, parking and taxis. A business and development plan should also be submitted and the issue of public competition for the development must be addressed." |
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THE exclusive Pearl Valley Signature Golf Estate & Spa development is rapidly taking shape in the Drakenstein Valley between Paarl and Franschhoek. Once complete this development will offer luxury golf course living designed around the centrepiece, the Jack Nicklaus Signature Golf Course, in a scenic setting. The residential infrastructure for phase one is progressing well and is scheduled for completion by July 2002. Pearl Valley Estate and Spa will consist of 320 homes and 180 executive lodges. Phase 1 of the development consists of 194 units, including 127 executive "lock-up and go" lodges and 67 exclusive homes. The challenging 10th and 11th holes will be completed by February and the pinnacle 18th hole will also be finalised by this date. Sales staff are hosting an informal braai on Wednesday 5 December on site. For more information, please contact the Pearl Valley Sales Office on 864-0442 or 419-3240 or visit the website www.pearlvalley.co.za. |
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Paarl Post asked local property consultants about the reasons for the oversupply of lettable space in the area. |
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He ascribes it in part to globalisation and computerisation, which allows people to work from home, without formal offices. "Traditional office space has become an unaffordable luxury for many. Businesses are down-sizing and becoming more streamlined. Just one example is the many bank branches that have closed down all over the country, as they have rationalised their workforce due to difficult economic circumstances. More and more people are working from home, which makes for lower costs and overheads. That is why you see many small niche businesses springing up in houses in Main Street, Kasteel Street and Swartvlei Street in Paarl. This has led to an oversupply of office space. This also means that landlords are becoming more realistic in the rental they are demanding. "This is not a situation peculiar to Paarl - landlords in other towns are also feeling the pinch and rentals are escalating less sharply." Johan Louw of Caprop blames the downturn on the difficulties of the agricultural sector: "Paarl has seen a lot of big businesses and industrial companies consolidating and restructuring in the past few years. "Many jobs have been lost, partly because we are so dependent on the struggling fruit export industry. We are also too far from the Metropole, making it hard for local industries to compete with those in the city, due to added transport costs. This is a wake-up call to the Municipality to concentrate on marketing the Paarl area and making it attractive to new industries. We've got an excellent labour force locally, but it is hampered by a great shortage of suitable housing. Many businesses have employees who commute from the northern suburbs." Says Heinie Gersbach of Era Steer: "People tend to overrate Paarl - although it is big, it is not a rich town." "The high escalation clauses in rental contracts have started to catch up with property owners. Since people have less disposable income and interest rates are lower, they prefer to buy their office space or work from home." Says Trevor Harris of Remax Paarl: "Some property owners are expecting an exorbitant rental and will have to be more realistic. "In Lady Grey Street rentals are high, but landlords often neglect the buildings. If you don't maintain your building, you can't demand Cape Town rates. Another problem is the informal traders and the limited parking in the CBD, with little consideration for pedestrian flow. On top of that, the possibility of a large new shopping centre near Boschenmeer or Langeberg makes people unwilling to sign long leases." According to one property owner, John Crowhurst, some of his properties are empty because the tenants have expanded and outgrown the premises. "In other cases, successful businesses have gravitated from the perimeter of the business area to the higher traffic areas in the CBD." But he admits that there does seem to be a drop in discretionary spending which has also affected property owners. "Where we previously expected a 12% escalation on commercial properties, rentals are more negotiable and market related at 8% escalation." But all is not doom and gloom. According to Schalk Shepherd of Shepherd's Trust many premises are empty because the tenants have moved somewhere else in Paarl. "They have not left. The central part of Paarl is very busy and premises there never stand empty. There is a lot of interest, but some property owners expect exorbitant rentals. "Commercial rental varies from R30 a square metre in Main Street to R65 in Lady Grey Street, while office space averages R25 per square metre. "There seems to be a resurgence in interest in the upper half of Lady Grey Street since BoE Bank declared its intention to stay in Paarl. I actually expect a general upgrading of that area. I don't think the Paarl economy is depressed - it's actually quite a busy place where we live, and property is still your best investment," was his optimistic conclusion. |
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A GOLF estate and hotel, the Glen Rosa Country Estate, is planned on a 522 hectare site on the fallow farms Langkloof and De Goede Hoop located on the Paarl/Malmesbury road 4 km north of the intersection with the R44. A Scoping Open House will be held at the Nelson's Creek wine estate on 30 August from 16:30 to 19:00 where more information will be available as part of the environmental assessment of the proposed development. It is proposed to develop 627 single residential properties and 20 manor houses, 90 guest lodges, 16 timeshare chalets, a 3 000 ton winery with vineyards, a 1 000 ton olive processing plant with olive orchards, and an agricultural centre. Also planned are an 18-hole golf course with a driving range, tennis courts, bowling greens, a health hydro and spa, an equestrian centre and stud farm, a hotel and convention centre, a business centre, a crèche, a restaurant and a chapel. If you cannot attend the meeting and wish to be identified as an interested and/or affected party, submit your name, contact information and interest in the matter within 14 days to Doug Jeffery Environmental Consultants, PO Box 44 Klapmuts, 7625 (tel/fax 875-5272 or e-mail dougjeff@iafrica.com). |
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MANY hurdles must still be overcome before the planned residential development on the farm Picardie in Suider Paarl is approved. An environmental impact report is being finalised by the Department of Environmental Affairs, but the Department of Agriculture does not support the development, a municipal spokesman said this week. The SA Heritage Research Foundation (Sahra) must also approve the rezoning for subdivision. The developer, Syfin Properties, proposes developing 92 erven on the southern and eastern section (13 hectares) of the 22 hectare farm, which is zoned for single residential development. Following objections from residents of Richelieu and Dumont Streets in Courtrai, the plans include using only the existing entrances in Laborie and Picardie Street. Numerous objections have nevertheless been received from neighbouring land owners who fear increased traffic and loss of privacy. |
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Walk in, and this cute home says hello immediately! Well positioned, immaculate. 3 bedrooms, 2 bathrooms, garage, excellent entertainment area. LOUISE 083 270 4226 |
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PROPERTY AGENTS
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WITH interest rates declining, profitable investments are getting harder to find. And judging by the many "To Let" signs visible in the streets of Paarl, property is no longer one of them - or is it? 