Landsdowne founder and CEO Jonathan Kohler
Residential real estate manager and estate agency Landsdowne Property Group has been appointed the managing agent of the new Devonbosch property development, in the Western Cape.
Devonbosch is situated near Stellenbosch in the Cape Winelands and is a bespoke mixed-use precinct that comprises designer apartments and penthouses, co-working offices, retail and light industrial spaces, with proposed future projects including a hotel development, schools, universities and medical facilities.
“This appointment further entrenches Landsdowne as a leading specialist precinct manager, alongside other high-end clients such as Steyn City, in Gauteng, and Conradie Park and Paardevlei, in the Western Cape.
“Our deep knowledge and expertise in managing mixed-use precincts, as well as our willingness to partner for the long term, balancing the interests of both the developer and residents is what gave the developer significant comfort.
“Devonbosch is a major project that will only be built out in the next 15 to 20 years, depending on the rate of sales, and being able to balance the evolving interests of all stakeholders is key to its success,” says Landsdowne founder and CEO Jonathan Kohler.
“We look forward to a mutually beneficial working relationship with Landsdowne as the development of Devonbosch shapes up,” adds Devonbosch developer SquareTurn Developments executive director for sales and marketing Reghard Goussard.
Landsdowne explains in a media release that the difference between a precinct specialist and other types of property managers is their understanding of the intricacies in how the Master Homeowners Association is governed, and how the governance of the various body corporates under the Sectional Title Act ties in with the constitution of the Master Homeowners Association.
It notes that the main purpose of a Master Homeowners Association is to oversee and manage the affairs of a large community or development, and ensure shared spaces and amenities are well-maintained for the benefit of all members. These include security entry points, lifestyle centres, parks and play areas, pavements and roads.
“More residents will be appointed as trustees to the various homeowner associations as the developments are built out and Landsdowne has the experience in balancing the interests of the developer and residents,” Kohler explains.
Landsdowne will manage the finances of the Master Homeowners Association and all sub-homeowners associations as well as body corporates within the Devonbosch precinct.
An on-site estate manager has been appointed to ensure the smooth running of operations.
Landsdowne will also manage the commercial precinct, handle tenant billing, as well as manage budgets as and when development phases are rolled out.
“As an asset manager, you need the right skillset to support and enhance the massive investment by the developer and ensure residents live in a well-managed and maintained environment,” Kohler points out.
Devonbosch is a megaprecinct, measuring 220 ha in size, with 20 ha of Phase 1 development rights already approved. It will boast more than 600 luxury apartments when completed, with an additional 3 000 homes planned.
On completion, Landsdowne says the mixed-use precinct is expected to create employment for over 10 000 people.
Devonbosch features amenities including modern European designs, ‘state-of-the-art’ security, rooftop terraces, underground parking, back-up power and park-like green spaces.
Each precinct will have its own sectional title scheme but form part of the Master Homeowners Association.