The past 18 months has seen a marked increase in residential property activity at Pinnacle Point Beach & Golf Resort, set on 420 hectares in Mossel Bay on the Garden Route.
Keith Murray, Pam Golding Properties area principal in Mossel Bay says: “There has been a dramatic upturn in enquiries and sales at Pinnacle Point, and in the 12 months since October 2013 Pam Golding Properties has sold a total of 40 properties comprising 23 stands, seven lodges, five homes and five villas.”
The vacant stands, which range from 450 to 807sqm in size, fetched prices between R300 000 and R1.6 million, lodges sold for R850 000 to R1.8 million, houses from R3.2 million to R4.2 million, while villas fetched between R800 000 and R1.6 million.
“Most of these purchasers were from around South Africa, including Johannesburg, Pretoria, Cape Town, the Northern Cape and Free State. We have however seen a growing number of enquiries from international buyers, with two recent sales transactions concluded with Americans, and a further two sales to a German and British buyer respectively. Currently a further two British and two Germany buyers are in the process of acquiring properties at Pinnacle Point,” says Murray.
“Generally, property at Pinnacle Point is acquired for a mix of holiday, retirement and investment purposes. While the estate is popular for second homes, positively, we find that approximately 35-40 percent of home owners live permanently on the estate or are planning to do so on retirement, while there are a number of ‘swallows’ from Sweden, Germany and the UK who spend several months a year in residence. The fact that there are good private and public schools in the area, extensive medical facilities at Life Bayview Private Hospital and a clubhouse, hotel, wellness centre and restaurants on site, adds to the appeal for families and other buyers.
“There is also a growing demand for homes to rent for holiday purposes, being mainly lodges and villas, which vary from a rate of R1200 to R4000 per day, depending on the facilities. This demand is not surprising as the development is geared towards a family friendly lifestyle with new tennis courts, a beginner golf academy and plans for a swimming pool, gym and conference facilities on the cards. Architectural plans have already been completed for the present clubhouse to accommodate these new facilities.”
In addition, a small game reserve of approximately 300ha which is situated alongside the Garden Route Casino at the main gate is to be incorporated into the estate. Including small game, with the largest being zebra, the reserve will form part of the common space and be available to residents for walking or biking.
This year Pinnacle Point added a peak performance centre as well as a SNAG (Starting New At Golf) facility. The performance centre has state of the art equipment to help the avid golfer with swing and stance, while the SNAG facility encourages beginners and children to get into the game. The new training tool was designed by Jack Nicklaus with youngsters in mind. He believes in making the game less challenging for them – using clubs with enlarged heads, tennis balls and brightly coloured targets, with exciting training aids encourage the correct movements.
Construction progress on site
Adds Murray: “We’ve seen a major turnaround in the residential property market in Pinnacle Point. At present, construction of 12 new homes is well under way while plans for a further three homes have been submitted for approval.
“With two prime golfing destinations – Pinnacle Point Beach and Golf Resort and Mossel Bay Golf Estate, this area has become a sought after, upmarket investment destination. At Pinnacle Point, the international standard Peter Matkovitch-designed golf course is in very good condition and is well managed by the Homeowners Association – which itself is in a positive financial position.”
Prices of plot and plan properties currently available at Pinnacle Point range from two, three and four bedroom lodges, two and three bedroom villas and four and five bedroom homes encompassing a broad price range from R850 000 through to R2.8 million, with penthouses priced between R3.2 million and R6 million. Vacant land is currently priced between R200 000 and R5.5 million.
According to Mossel Bay Tourism, Pinnacle Point Caves, which were declared a Provincial Heritage Site in December 2012 – together with a number of other sites around South Africa – form part of an application to UNESCO (United Nations Educational, Scientific & Cultural Organisation) to be declared a collective World Heritage Site. Pinnacle Point Caves reveal the earliest evidence for modern human behavior, with Middle Stone Age middens discovered there during the environmental impact assessment for the development of the Garden Route Casino and Pinnacle Point Beach & Golf Resort.
For further information contact Pam Golding Properties Mossel Bay on 044 691 3844 or email firstname.lastname@example.org