Estate Living Digital Publication Issue 9 September 2015 | Page 26

ESTATE REVIEW

26

the assets always exceed the liabilities. There is an inhouse olive cellar and press, with ancillary facilities
and farming equipment supplied by the developer,
and a team of 10 permanent staff is employed to
farm and landscape the olive groves, although this
complement can exceed 50 during harvesting. The
HOA owns the olive company and onsite orchards
and a board of trustees consisting of four members
representing the interests of the homeowners and
three representing those of the developer, together
with the estate manager, handle the daily operations
of the estate and communicate with residents via
email, although the very latest Fibre to the Home
system currently in the planning phase will allow for
greater and more efficient connectivity.
The central location attracts a brilliantly balanced
mix of residents – from young professionals taking
advantage of the convenient, yet quaint locality
right off the N2 and in easy reach of Cape Town
International Airport and the City Bowl to retired
couples wanting to take pleasure in the stunning
landscapes of the nearby winelands. Domestic
and foreign investors and young families are also
drawn to the benefits of outstanding nearby
schools, fantastic local amenities and a safe and
rural environment. Launched in 2008, the master
plan allows for 205 plots, with just fewer than 20
currently available, varying in size between 650m²
to 720m² and priced at R 880 000 and R 1.2 million
respectively. Homeowners have the opportunity to
purchase their land directly from the developer and,
unlike the Vineyard Estate, Croydon Olive Estate

permits the completion of double-storey homes,
allowing for much bigger properties suitable for
growing families. Completed homes on the estate
retail between R 2.5 million and R 6.5 million
depending on size and finish.
All of the completed freehold homes are occupied,
the majority by permanent homeowners, with
fewer than 20% leased out by investors who can
anticipate a monthly rental income of approximately
R 18 000 to R 25 000. Thirty-six homes are under
construction and 18 new homeowners have
just had their building plans approved by the
Architectural & Aesthetic Review Committee, with
construction permitted to begin up to five years
after date of first transfer, and a further one year
for final completion. The services of any number
of external building contractors can be utilised by
homeowners, provided that the contractors meet
the estate’s accreditation process, overseen by a
dedicated team.
Creating an architectural synergy that is
congruent with the local region and embracing
of tradition and culture is extremely important
to the developers and two distinct styles prevail.
Homes are painted in clean white exteriors with
grey pitched roofs mirroring the Cape Vernacular
style, whilst houses that are fashioned in Cape
Georgian are reminiscent of homes in Dorp Street,
Stellenbosch and historic areas like the Bo Kaap.
Houses in the lanes remind one of Cape mission
stations, Cape Dutch homesteads and typical 19th