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Building|Construction|Financial|PROJECT
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Landsdowne sees growth potential for sectional title estates in townships

Landsdowne CEO Jonathan Kohler

Orlando Towers Estate

Steyn City’s City Centre

15th February 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

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As managers of the Orlando Towers Estate, a sectional title and lifestyle development in Soweto, Gauteng, residential estate manager Landsdowne Property Group notes that there is growth potential for sectional title property management in townships, such as Soweto.

The estate, which is being developed in stages, has recently handed over the first phase comprising 136 one-, two-, and three-bedroom apartments to mostly first-time homeowners. On completion, Orlando Towers Estate will have 568 apartments priced from R600 000 to R980 000.

Orlando Towers Estate is Landsdowne’s first venture into the township.

During a site visit on February 14, Landsdowne CEO Jonathan Kohler said managing a sectional title development requires expertise in property and financial management, as well as homeowners’ buy-in when it comes to levy payments to ensure the development’s long-term sustainability.

“We see massive growth potential for sectional title management in Soweto, as new models in urban living in traditional townships increase on the back of demand for secure lifestyle environments.

“Developments such as Orlando Towers Estate help to improve the area’s appeal, especially to many young people who grew up in freestanding homes and are now transitioning into secure communal living. It also brings more purpose, enabling those who want to leave their maternal homes to still live in the area but in a development of their choice,” he said.

He noted that, as managing agents, Landsdowne constantly educates residents on sectional title living. This includes factors such as the importance of levies, body corporate rules and policies around pets, acceptable noise levels in the scheme and which portions of the building are common property.

At Orlando Towers Estate, for example, many residents are first-time homeowners with the balance being buy-to-let investors.

Hence, Kohler said, the Orlando Towers Estate presents an opportunity for first-time homeowners to learn more about sectional title living.

“There's a massive obligation and necessity for us to explain to the first-time homeowners exactly what sectional title is, what being a member of a body corporate is, what being a trustee is, why they pay levies … [this is] a massive opportunity for us and we are very proud to be associated with a development like that, and we want to grow in that space, educate new homeowners.”

Meanwhile, Landsdowne is also managing Steyn City’s high-end apartment complex City Centre, also in Gauteng, which Kohler described as a flagship project for the group.

The City Centre includes apartments valued at R2.7-million to R35-million for a fully furnished penthouse; these luxury homes are made of one- to four-bedroom single and double-storey apartments and a selection of penthouses. 

The first phase of City Centre was completed in October 2022, with Phase 2 construction expected to be completed mid-2026.

Landsdowne now manages all the corporate bodies in Steyn City, including City Centre, as well as Capital Park – Steyn City’s commercial office park.

Upon completion, the City Centre will have 700 apartments.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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