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Cape Town became the city it is because of its strategic position at the tip of Africa, and the Marina Residential Estate occupies possibly the most strategic position in the city.
On the water’s edge
Situated to the west of the harbour, the estate consists of 500 luxury waterside units in 17 separate buildings, each named after a ship with some historical connection to Cape Town.
About 45% of the units are occupied by the owners, and the rest are long- and short-term tenants. The buildings contain a mix of homeowner residents and rentals. The short- and medium-term rentals are very popular with the movie industry, so it’s not uncommon to see some very familiar (and very beautiful) faces around the estate.
Running through the estate is the waterfront canal, which connects the harbour with the city, ending at the Cape Town International Convention Centre. It’s a wonderful watery playground that is also a public thoroughfare, so it’s regularly used by paddlers, SUP boarders, and even swimmers who like to train without having to do too many tumble turns. In midwinter, it’s the venue for a ritual cold-water swim. But it’s only the tough who do that; most of the residents prefer to swim in one of the five communal pools, one of which is heated, and one of which is situated strategically for awesome views of the mountain and the sea. There are also a number of private pools. The estate
management team have included both the public and private pools in their water management programme so that none have any effect on Cape Town’s water situation, as they are filled from the canal.
All the marina apartments overlook the canal and Marina Bay, the ground-floor units have direct access to the canal, and residents can moor a boat right at their door if they like – or next door on the trots outside the Cape Grace. The development and canal are designed to be higher than sea level. All boat transport between the estate and the open ocean is through a lock. These are common on the inland canals of Europe and Britain, but this is the only one in southern Africa.
Making it work
All estates require a phenomenal amount of maintenance and management, but the Marina has the added challenges of being on a seawater canal, and connected to a working harbour – though these have their advantages,
too. The Marina Residential Estate was one of the pioneers in using seawater for air conditioners, by pumping cold
water from the harbour through a heat exchanger, and then releasing it back into the sea a few degrees warmer.
And they have recently made the whole system much more energy efficient by replacing the old pumps with newer, more efficient pumps – at a cost of R2 million. But for a massive saving of about R1 million a year. Bit of a no-brainer that.
Managing an estate of this size is a complex endeavour, and new estate manager, John Bold, who was appointed in October 2017, has hit the ground running. John has been managing golf clubs and residential estates for more than 15 years, so he brings a wealth of knowledge and experience to the task, and he is one of only 18 people in South Africa who hold a Certified Club Manager qualification from the Club Management Association of America, via the Club Management Association of South Africa. The certification acknowledges and recognises exceptional service delivery in the industry of estate and club management.
The estates, landscaping, security, facilities, water-security measures and common areas are run by the Marina Residential Home Owners Association (MRHOA), which includes the estate manager, maintenance manager and staff. The MRHOA Executive Committee is made up of a representative of each of the body corporates of the 17 separate buildings.
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Construction started in 2000, and the first homes were completed in 2003, so the interior styles of some of the apartments on the estate are 15 years old. Consequently, when units change hands, the new owners almost invariably want to do an update. Many gut the entire unit and redecorate from scratch, often combining two rooms into one, so it is important that the ExCo carefully controls any structural changes. ‘The last thing we want,’ says Bold, ‘is
someone knocking down a structural wall.’
Day-to-day management is largely outsourced, with Servest doing the gardens and landscaping, RealClean doing the cleaning, and iMvula handling the security, with an on-site control room, regular patrols and – of course – access control. The Marina Residential Estate it not just a residential estate; it’s also a popular upmarket international holiday destination for dignitaries and celebrities from all over the world. So security needs to be not only faultless but also discreet. As iMvula’s CEO Brenda Reddy explains, ‘professionalism, quality service and utmost discretion are just three of the important focus points in providing security service excellence and peace of mind to the residents and their guests.’ This requires regular risk assessments both on the estate and in the surrounds, co-operation with the SAPS, regular refresher training for all security staff, and a hands-on daily working relationship with the Marina management. Over and above this, iMvula’s senior management regularly liaise with Marina management through weekly security committee meetings.
Make it happen
All the units have been sold, some more than once, so the only way to get in here is by repurchasing – and every generation of owner has reaped a good return on their investment, with prices increasing quite impressively. Of course, the asking price for any units that do come on the market depends on size, location, view and a whole lot of other features, but they are among the highest in Cape Town, which reflects the convenience living in this estate affords its residents. As well as offering a stress-free commute to the CBD, it boasts access to a fitness centre, several pools and 200 yacht moorings, and is within walking distance of the V&A Waterfront with its upmarket retail outlets, fine restaurants, live music, museums and food markets.
It’s a good investment, too, with monthly rentals for a two bedroom, two-bathroom luxury apartment starting at R35,000 per month, and short-term rentals starting at about R20,000 a day – and resale values continue to climb.
