Hunters Pride Wildlife Estate Corporate profile
Hunters Pride Wildlife Estate has just been released into the South African leisure market and is the only Fractional Ownership development in the Dinokeng BIG 5 Game Reserve in Gauteng - a veritable gem within a half hour’s drive from Pretoria and a little more than a 1 hour drive from Johannesburg and the OR Tambo International Airport.
The Dinokeng Big Five Game Reserve (DB5) is an initiative of the Gauteng Government and is one of the highly successful Blue IQ investment projects – amongst the Gautrain, Cradle of Human Kind, Blue Catalyst, Constitution Hill and Innovation Hub. The DB5 includes Government and privately owned land and Gauteng Province has already funded in excess of R50m as direct investment for Game purchases, Big 5 compliant electrified fencing and Entrance Gates.
Hunters Pride takes fractional ownership a step further by providing for fixed weeks chosen from a roster, combined with flexible weeks which must be booked in advance. The advantage of this system is that a week can be pre-booked to your choice of holidays throughout the year (school holidays, mid-term breaks etc). An owner can also rent out his weeks or let friends or families make use of it.
Our Fractional Ownership scheme is unique in that it is the only scheme that affords the option to purchase one fixed week (yours to use for ever) and one flexible week or two flexible weeks. Flexible weeks must be booked in advance as set out in a use agreement. This ownership method has been designed so that owners can choose a week(s) to suite their personal needs.
Only 25 shares representing two weeks each are sold in each unit. The remaining two weeks are set aside for annual maintenance and repairs. Each share holder will thus have 1/25 share or 4% ownership in the company owning the property. The present levy of only R360 to R420 (depending whether a 2, 3 or 4 bedroom unit) per month per owner covers the total running cost of the house such as insurance, body corporate levies, cleaning services, managing agent fees, etc. which is proof of the advantage of sharing cost.
Q & A with Joe Marincowitz
Hunters Pride Wildlife Estate
Hunters Pride Wildlife Estate
Is it possible to have real bush veldt so close to Pretoria and Johannesburg?
[JM] Hunters Pride is a wildlife Estate in the only Big Five Nature Reserve within Gauteng. The Nature Reserve varies from 1000m to 1100m above sea level which is the ideal altitude for malaria free true bush veldt. Pretoria is at an altitude of 1300m and Johannesburg at 1600m.
How large is the Dinokeng Big Five Game Reserve?
[JM] At present 18500Ha is fenced in, but negotiations with neighbouring farm owners are underway which will increase the reserve to more than 30000Ha.
How long will it take for new areas to be included?
[JM] Big Five Game fencing is very costly. Therefore new areas will only be fenced once at least another 10000Ha has been signed in. Experience has proved that it takes 2 to 3 years to successfully incorporate a 10000 Ha area. Dinokeng Game Reserve has a full time team working on the expansion of the Reserve.
It is said that the value of property within a game reserve increases significantly.
[JM] It is a proven fact that properties in game reserves especially with the introduction of the Big Five are becoming increasingly more popular. Properties in Phase 1 of our development which was sold for R1 000 000 in 2000 are now reselling at R4 000 000 to R6 000 000.
Why do people buy lodges in a game reserve?
[JM] Firstly it is for lifestyle use and secondly as an investment.
Tell me more about the developers?
[JM] The developers have been involved in construction and property development since 1968. During 1998 the Pride of Africa Nature Reserve was initiated by the developers on 2100 Ha before the inception of the Dinokeng Game Reserve. The Hunters Pride Wildlife Estate follows the highly successful phase one which consists of 20 luxury corporate and private lodges.
What distinguishes the Hunters Pride fractional ownership scheme from other fractional schemes?
[JM] We provide for fixed weeks and flexi weeks. Fixed weeks include the Easter weekend, school holidays, Christmas and New Years day, etc. and are more expensive than Flexi weeks due to their exclusivity. Flexi weeks can be booked at random to suit the owners needs. One can purchase a fixed and a flexi week or two flexi weeks.
What happens if one buys a fixed or a flexi week and cannot make use of it due to circumstances?
[JM] You can either give your week to family or friends or you can place it in a rental pool. The income from one week’s rent can pay a large chunk of your yearly levy. Many people buy two weeks and rent out one week.
Can one exchange a week or weeks for other accommodation elsewhere?
[JM] It is possible to become a member of an exchange club which will enable you to exchange your week or weeks for similar periods in South Africa or abroad.
Do the developers allow outright purchases?
[JM] We expect that a large percentage of the development will be outright purchases of a whole unit. There are also instances where small syndicates consisting of 4 to 12 people purchase a whole unit and then formulate their own occupancy roster.
Why are there 25 shareholders of 2 weeks each and not 26?
[JM] We only have 25 shareholders to allow 2 weeks per year for maintenance and upkeep of the unit.
What is the difference between fractional ownership and timeshare?
[JM] With fractional ownership you are a shareholder in a property company. The value of the share increases as the value of the property increases. In South Africa properties normally double in value every six years on average. You can at any time sell your share with a profit when you need cash. Timeshare normally lapses after a period after which you have nothing to sell.
Who will manage the property?
[JM] The Body Corporate of Hunters Pride oversees the general running of the Estate, such as water and electricity supply, road and site maintenance, reception, security, etc. Your own property is run by a management agent of the shareholders choice. The shareholders choose directors and a chairman whom are responsible for the management affairs together with the management agent. The cost of the management agent is included in the monthly levy.
Is there anything else to do in Dinokeng except game viewing?
[JM] Dinokeng is a meander of which the Dinokeng game reserve is only one node. In the area is many restaurants, historic buildings, a Monkey Zoo, Curio shops, traditional healers, Potteries, Mampoer distilleries, the Cullinan Mine, Rust De Winter Dam, Roodeplaat Dam and the Carousel Casino to name but a few. It will take more than a week to visit all these interesting places.
Contact Details
| Location: Pretoria, Gauteng, South Africa Contact person: Developer Joe Marincowitz Office Phone: Not Available Cell Phone: +27 (0)82 416 4883 Email: Email agent Website: Visit website |
Featured Article
Get a holiday home through shared ownership
It is that time of year again and everyone is thinking about taking holidays and debating where they will go with their loved ones and families. The problem is that most people will end up going to the exact same destination they have been for years.
People go about financing their holidays in different ways; some diligently save up each month throughout the year while others take a different approach. Some that don’t have family commitments just splurge their whole Christmas bonus on their annual holiday. Their rationale is that they want to spend the money before they have heavy family commitments or become too mature to do this.
The problem with this is that when January comes around they regret doing that as every day of January feels a year long; the good times are over and they are broke.
Interestingly, there are hotels in Mombasa that allow guests the chance to deposit a small amount, only Sh2,000 every month, so that come December, they have built up a nice reserve.
There is another way though to go about this; fractional ownership of a property can put your own holiday home within your grasp. Think about it for a minute; you can have a luxury villa on the beach front on the African Coast or a lovely Masai Mara holiday chalet. You can go scuba diving, go on game drives, and have seven course meals with massages and yoga. There is a long list of luxuries available to you.
Owning a vacation home is a dream of most people, but the lack of capital or limited finances puts a stop to this idea. Then too, how logical would it be to own a home that you only use for a small portion of the time and it stands empty the rest of the year.
Fractional ownership has created a trend in the West that allows far more people to afford the costs of a holiday home than before. So what exactly is fractional ownership and how does it work? It means you become the deeded owner of a specific asset. This can include homes, yachts and aircraft. Through fractional ownership you as an individual are granted an ownership share of the specified asset, which comes to a certain percentage. This means you are buying only a partial interest in the asset.
As a fractional owner you thus have the right to make use of the asset for a number of hours each year that has been predetermined. You also can make use of these hours on demand. The initial owner [fractional provider] manages the property. This means he/she provides services and maintenance regarding the property. This can include drivers, gardeners, yoga trainers, chefs or any other service personnel needed to run the fractional property.
The way this works is that the fractional owner that has the most shares [percentage] ownership of the house will get the most access [hours] to the house. The interesting thing is that you can still get all the benefits that comes with staying in a luxury villa or home for up to one week every year if your ownership is as little as two percent.
There are several advantages to the fractional ownership concept. You can give a loved one or a family member a holiday as a gift, by nominating them to take the time that is allocated to you for a year. The other advantage is that the capital contribution that you have in the percentage that you own continues to be an asset for you and can be transferred and sold to third parties like any other asset.
The initial owner [fractional provider] will form a company. This company usually becomes the owner of said property and then shares are offered to the would-be fractional owners. The fractional owners, who now own the property jointly on a pro rata basis, are then liable to pay the managing company their pro rata shareholding as well as a nominal service fee.
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