Hip and happening Stellenbosch homes

As years pass, some suburbs wax and wane, while others simply reinvent themselves. Such is the small residential area of La Colline in Stellenbosch in the heart of the Cape Winelands.

This fully furnished apartment offers two bedrooms, one bathroom, an open plan kitchen, lounge and 24 hour security. It is currently on the market for R895 000 - click here to view.

Excluding a handful of secure complexes and sectional title blocks, La Colline comprises only 75 residential properties in total, all full title semi-detached homes built mainly around the 1940s, and with no vacant stands available.

Louise Varga, Pam Golding Properties’ (PGP) area manager in Stellenbosch, says situated on a small hill with mountain views all round, this suburb, which has been generally regarded as being on the wrong side of town, is fast becoming a hip and happening location.

She says elevated in more ways than one, the area is undergoing a revival and transformation as a new generation of younger buyers and investors move in, many with young families.

These buyers see the charm and potential of this suburb and are investing in homes they are then modernising and enhancing, helping breathe vibrant new life into the area while improving the value of their properties, she says.

This house has three bedrooms, two bathrooms, open plan living spaces, a landscaped, low maintenance garden, security and covered parking. It is priced at R1.625 million - click here to view.

Varga says such is their confidence in La Colline, some have even acquired two properties, while others are investing further capital in expanding and upgrading their homes.

It’s exciting to see such a turnaround take place, with the best of the old and new features of the properties combining to create a trendy, character-filled residential area, she says.

PGP agent in the area, Lizanne Fourie, says there is already a strong sense of community in the suburb. She says residents look out for one another while their children play together in one of the small parks in the area.

Homeowners are a like-minded mix of young people breaking the area out of its former mould with renovations and refurbishments, including extensions that will create good capital growth in the long run, she says.

“Hairdressers, actors, estate agents, musicians, event organisers, professors and architects are just some of those buying into the area. They realise this makes sense, particularly as a first-time or investment acquisition.”

This townhouse has four bedrooms, one bathroom, a kitchen, open plan living areas and 24 hour security. It is on the market for R1.48 million - click here to view.

Overlooking Stellenbosch and the university campus, which is only 1.5km away, La Colline is conveniently situated close to main feeder routes such as the R44 to Paarl and Somerset West, Hellshoogte Pass to Franschhoek and Ryneveld, Street which leads through to Dorp Street in the centre of Stellenbosch.

Fourie says stands vary from 300sqm to 900sqm in size, averaging around 450sqm to 550sqm. She says there are two types of homes; single level or double storey, and all are semi-detached.

In their original form, without extensions or add-ons, all these properties would cover a surface of 105sqm to 110sqm and comprise three bedrooms and one or two bathrooms.

If you’ve seen one you’ve seen them all, as the layout of the properties are all exactly the same for a single level, and the same for a double storey, with the two properties forming the detached being a mirror of each other, she says.

Situated in a security complex, this property offers two bedrooms, two bathrooms, an open plan kitchen and living areas and access to a garden. It is priced at R1.2 million - click here to view.

La Colline was built in 1948 by the National Housing Commission as part of an economical housing scheme. Since then, most of the area has been privatised.

With Stellenbosch expanding in all directions and traffic becoming an issue, Fourie says it is inevitable that the first-time buyer or investor will buy into and ultimately uplift an area this close to the CBD, especially considering the low prices and potential capital growth and return on investment over the longer term.

“The homes in La Colline are affordable when compared to the rest of Stellenbosch. A three bedroom, two bathroom single or double storey home that hasn’t been renovated can sell for anything between R1.1 million and R1.58 million, depending on stand size and state of the property.”

Just below the La Colline hill is a suburb called Kromrivier, comprising another 72 full title properties, where last year a property sold for R2.54 million. Both developers and investors are showing an interest in Kromrivier, where homes are average single storey properties, she says.

At present, Fourie says there is a renovated five bedroom property on the market for R2.6 million, with a potential rental yield of R237 000 per annum if the owner leases all five bedrooms at R3 950 per room.

She says currently, one would be fortunate to find a home for R1.2 million, however, there have been one or two sales in the past two years under R1.2 million. Buyers are investing between R300 000 and R600 000 minimum, adding rooms to the property or building flatlets for extra income.

With the original shape of the properties being rectangular blocks, owners are breaking away by adding rooms to the front or back and thereby changing the ‘box’ appearance of the original semi-detached, she says.

Modern perimeter walls with attractive gates are being built, while care and pride in ownership is evident in the attractive gardens and sidewalks in front of the properties.

“The last five properties I sold in La Colline since 2013 were all acquired by buyers in the 27 to 35 year age group, all of whom undertook to improve or change the homes either for themselves or in order to achieve better rental income.”

Fourie says a home can be leased for R7 500 to R11 500 per month for a three bedroom, two bathroom property, and from R3 500 to R4 000 per month for a separate bachelor flatlet with bathroom and kitchenette.

She says over and above this, they are also seeing parents acquiring properties for their children to use while attending university in Stellenbosch. While there are well-maintained properties, there are few on the market, she says.

She says currently on the market is a beautifully renovated three bedroom, two bathroom home with a rental income of R11 500 per month, available for purchase at R1.69 million.