PROPERTY Partners, the new mezzanine finance and equity house set up to give property developers top-up finance, has taken an equity stake in a 23ha strategic land parcel, close to Constantia Nek (on the Hout Bay side) and just below Silvermist Estate.

The land has magnificent views across the Oranjekloof reserve to the back of the Twelve Apostles chain. Stuart Chait, chief executive of Property Partners, said they are looking for a development partner with a good track record to run the project.

"Right now it looks as if we could opt for a project with 30 very large plots and the now-obligatory security measures, without which no residential development in a semi-rural zone can get the go-ahead.

The property lends itself to the planting of a vineyard within a security estate and to the establishment of a boutique winery," said Chait. He commented that large plots in this area often sell for around R2m, as there is a dire shortage of land.

"The uniqueness of this site, on a mountainside, with plots amongst the vines on a wine estate, will, we think, be attractive to developers. "We want to back someone with the ability to deliver the right product to the market." l

For further information please contact Stuart Chait on 021 670 5050.