Anglo American sold the property to a consortium for R323 million last year. Nedbank Corporate will help fund the purchase and the development work.

"The leader of the new consortium, Clive Venning, and his team propose a development programme that could run for ten years and that could result in R2 billion worth of land sales and in a staggering R3,8 billion in total property development.

"It is likely, also, to promote substantial employment within the area. Boschendal, in short, is set to become the premier upmarket residential precinct of the Western Cape."

The first phase of the new owner's plan involves bringing 20 Founder's Estates of about 20 hectares each to the market from between R15 and 25 million. These are being developed on the 917ha of the Boschendal section of which the new owners have already taken transfer (Rhone and Good Hope).

The Founder's Estate owners will be able to use this cottage as a guest house and club premises. They will too be entitled to receive a quota of the wines produced and to have their bottles labelled with their names.

Phase 2 of the new owners' plan involves taking over the remaining 1,337ha. This will be done once planning permission has been received which could take another 18 to 24 months - but it is on this section that large-scale residential development will take place.

The new owners will be developing a 300 unit retirement village and some 400 farmyard style villages on the footprints of 30 existing farm villages which will in most cases be demolished, but some will be renovated.

In essence, says Johnson, this means that Boschendal will be a premium, low density development which blends and complements the surroundings, has a very low impact on the landscape and is sensitive to the environment and local community.

A unique feature of the take-over is the preservation of the "integrity" of the farming operation. The entire agricultural unit continues to be managed and farmed by Boschendal and this is entrenched through a notarial lease on the land.

The plots will vary in size from 1 250 sq/m to 10 000 sq/m and will be selling between R2 and R8 million. The homes built on them, says Johnson, will in all probability cost as much or more, giving an average value for the plot and homes around here of around R4 to R5 million.

"I predict that these farmyard village homes will become some of the most sought after in the entire Western Cape," said Venning.

The day's event started off on an even higher note when Nicklaus announced that negotiations to build another golf course at Pearl Valley had been successful.

The contract signing between Nicklaus and the Malaysian investor, Dr T Lim, took place at the scheduled press conference.

Although details concerning the new course are still sketchy, Nicklaus confirmed that it will be a "Bear's Best" golf course.

"A Bear's Best course consists of 18 of the best holes of all the courses that I've designed across the world.

"Golfers will therefore for instance recognise a certain hole as the 18th of Muirfield or as the 5th hole at Castle Pines.

It will be the pick of very good golf holes and something not seen before in South Africa," the golfing great said after the announcement.

"We are very happy that Mr Nicklaus can come up with something even better than Pearl Valley," Dr Lim said.

"Not better, just as good," Nicklaus quickly added jokingly.

Regarding his involvement with Pearl Valley, Nicklaus said "it feels good leaving a legacy to the sport of golf in SA" and added that the security that golf estates offer residents also plays a big role in the growing number of such estates world wide.

SA's own golfing legend, Gary Player, was adamant that courses such as Pearl Valley and the Links at Fancourt where the upcoming President's Cup Tournament is being held, will play a huge role in the country's tourism industry.

"Nick's golf courses are always in good condition and will add greatly to tourism."

The friendly match offered a glimpse of the American and International team captains for the 2003 President's Cup, Jack Nicklaus and Gary Player respectively, and might be the last match played between these two golfing icons. 

"Designing a golf course is my total expression. My golf game can only go on so long. But what I have learnt can be put into a piece of ground, and that will last beyond me," says Nicklaus, who has undoubtedly been the most dominant player of the 20th century with 71 official PGA victories that contribute to his total count of 100 victories achieved around the world. 

Nicklaus's mark on the 20th century was his golf game but his legacy continues in the 21st century with his golf course design that has established him as one of the world's premier golf course designers.

The Nicklaus signature course at Pearl Valley has already been hailed as "fit to rival the best in the world" by golfing critics and showcases Nicklaus's attention to detail and unmistakable design elegance. 

The "Signature" appellation means that Nicklaus was personally involved in the design and construction of the course from inception and undertook regular visits to the site.

Amateur golfers need not be intimidated by Pearl Valley's championship credentials as each hole has been designed to offer everyday enjoyment for members whilst effortlessly rising to the challenge of major international championships through speeding up the greens, bringing the back tees into play and narrowing of the fairways.

Last week the Mayoral Committee decided that a development economist should be appointed as a matter of extreme urgency to guide and advise them on the technical, management and legislative aspects pertaining to the proposed development of a Central Improvement District.

The Mayoral Committee plans to enter, along with the development economist, into negotiations with the private sector to discuss and finalise the incorporation of the pre-conditions to the proposed development.

The committee also decided to call for expressions of interest for the further development of all other urban nodes in the Drakenstein Municipal area in order to meet development objectives such as housing, job creation, community safety and social infrastructure development.

The councillors pointed out that principles which must apply to the process are black economic empowerment, spatial and racial integration, SMME development and community re-investment.

* Fourteen owners with 34 properties in the CBD have already signed a contract with Catalyst Property Asset Managers to facilitate a process for the urban renewal process in central Paarl.

Property developer Johan Pauw, representing the developers, estimates this would mean a R200 million injection into the CBD just during phase 1.

At a meeting earlier this year between Pauw and the previous executive committee of Drakenstein, he said the state of decay and ongoing deterioration of the Paarl CBD was undisputable.

"If the situation is left unchecked, it should be anticipated that there is a real threat that key anchor shops will relocate."

Pauw put a holistic plan for the redevelopment potential in the Paarl/Wellington area on the table, as well as a plan for Lady Grey Street.

The residential properties range in size between 4000 square metres and 1,1 hectare, each with its own income producing vineyard or olive groves, and some with their own water features, to offer a unique, hassle-free "farm" lifestyle.

Sold on a plot-and-plan basis, it is the only working wine estate in the country to offer freehold one-hectare residential property. The plots are available from the developers from R1,1 million.

The developers have an in-house professional team on site. Construction of the first homes will commence in February, with all building expected to be completed in December 2004.

The private residential node forms part of phase two of the greater 190-hectare security estate, which has been hailed as the "Cape's best kept secret".

The estate is situated in the prestigious Paarl-Franchhoek valley, which has experienced tremendous growth in property value since the area has become the Cape's "golfing mecca".

The Winelands Estate is in close proximity to some of the province's top signature golf courses, with the only 27-hole golf course a couple of minutes away.

The opening of the estate's five-star Winelands Hotel and Wellness Centre takes place next month.

The Hotel will be managed and operated by Southern Sun Hotels and will be included in the exclusive Southern Sun Collection portfolio. The 2000 square metre state-of-the-art Santé Wellness Centre will also open in September.

Residents will have access to all estate facilities, including those offered by the Hotel. They will also enjoy membership to the state-of-the-art Wellness Centre with its indoor pool, gym, sauna, steam room and jacuzzis, and residents will qualify for specialised treatments and therapies at discounted rates.

Other recreational activities at the disposal of residents will include an eight kilometre jogging/walking and biking trail around the estate, as well as horse riding.

The development features 25 hectares of lakes that will offer excellent fishing and bird watching. This is a direct result of the environmentally sensitive manner in which the developers rehabilitated the area.

The site used to house the former Corobrick factory, and the developers have converted the old quarries into water features in an effort to restore the natural beauty of the environment.

Phase two of the development will furthermore include a unique, upmarket farm stall adjacent to the residential node, on the R45 between Paarl and Franschhoek.

Here both residents and the public will enjoy facilities that will include a gallery, indoor theatre and restaurant, bistro, bakery and cheesery, as well as a wine shop and an olive press which will sell the estate's produce.

And like its famous "neighbours" - the wine estates of Backsberg, Glen Carlou, Vrede & Lust, R&R Fredericksburg - this unique leisure and lifestyle node is set to become one of the tourist "must-visit" hot spots.

The residential estate will have its own controlled access gate and will feature excellent security and patrols on horseback.

Set against an exquisite landscape with breathtaking views of the Simonsberg and Franschhoek mountains, the residential node, like the Hotel and Wellness Centre, will embrace a strong Bergan architectural style that will be further enhanced by the estate vineyards, olive groves and proximate lavender and herb gardens.

Each home will be individually designed within the flexible architectural and landscaping guidelines to suit the specific needs of the individual buyer, which will encompass exterior finishes in natural, earthy tones; classic Empoli roof tiles; and wooden windows and doors.

These design elements, as well as the high ceilings and thick walls, colours and textures, will produce a scale and discipline that will hold together the vision to give birth to a unique ambience, and a luxury country lifestyle which will optimise the sense of "big sky" and rural openness.

The estate's income producing vineyards and olive groves will be managed by the residents' Farming Association, and wine can be sold on behalf of the owners who will furthermore have the option to purchase shares in the Estate Winery. Construction of the estate's 500 tonne wine cellar will commence in February.

A renowned wine maker will be appointed and property owners will receive a quota of wine with personalised wine labels made available to them.

The Farming Association will also be responsible for the maintenance of the estate landscaping, as well as individual gardens and swimming pools.

The estate has been allocated a water quota from the nearby Berg River, which is recycled throughout the estate by means of a technologically advanced irrigation system.