GRAHAM NORRIS

Property Editor

THE Devmark Property Group is to develop a four-star hotel in the Durbanville Hills.

The R45 million project will be called The Vines Hotel, and will comprise 80 sectional title suites, of which more than 80% have already been sold.

It will have first class finishes and will be operated by the Relais Hotel group. Construction will begin in March, and is set for completion by November this year. The hotel will be located in the business node close to the Vineyard office block. It will offer stunning views and will be surrounded by vineyards.

It will be centrally situated to the business centre of Tygervalley, where many prominent companies such as Santam, Sanlam and Gensec have moved their corporate headquarters, in line with the general trend to decentralise to the northern suburbs. The hotel is aimed at the business traveller, and all suites will be equipped with luxury bathrooms and kitchenettes, as well as living- and working areas.

In view of the successful development of tourism in the northern suburbs, and the popularity of the Durbanville Wine Route, it is expected that the hotel will draw substantial tourism traffic, due to its central location to Stellenbosch, Franschhoek, Paarl, the airport and Cape Town itself.

Two types of units will be available: eight suites of 60 square metres which can accommodate up to six people, and 72 smaller suites, which can sleep between one and four people each. A swimming pool, 24-hour service and safe parking will be available. Prices start at R498 000 (VAT inclusive) for full sectional title ownership.

According to Hein Ehlers, the managing director of Devmark, the hotel sectional title scheme will be based on the success recipe which the company created at the Bantry Bay Luxury Suites Hotel in 1998, in conjunction with the Faircape Development company.

The Bantry Bay Luxury Suites Hotel is still considered as one of the first, and most successful hotel sectional-title projects launched in the Western Cape. Devmark is also the appointed managing company for The Vines Hotel project, as it was at the Bantry Bay Luxury Suites.

"The Vines Hotel offers a hassle-free investment opportunity. Both the income projections and expected long term capital growth, are excellent. Income projections are based on a very conservative formula and the investment is self-financing. Buyers will be responsible for the 10% deposit, and bond repayments and all the levies associated with sectional title ownership, will be covered by the net income," he said.

Inquiries: Devmark on (021) 948-3502