THE new owners of Boschendal have celebrated their commitment to the development of this estate by completing the second phase acquisition of Boschendal land, even though they are still awaiting planning approval for the initial property developments.
The latest acquisition of 1400 hectares increases their investment to over R500 million in land and development.
During an al fresco luncheon on Monday hosted by Gary Player, Boschendal CEO Clive Venning, said, “Almost all developers make payment and transfer on condition of receiving planning approval and, in some cases, a satisfactory level of presales.
“We have gone ahead without these, firstly because we gave an undertaking to AngloAmerican Farms, the sellers, to do so by September this year and, secondly, because we believe that our planning will support balanced development at Boschendal.
“It will set a new benchmark in the care taken to preserve the cultural, environmental and agricultural integrity of such estates, while at the same time giving genuine opportunities for the upliftment of surrounding communities.
Don Tooth, MD of Anglo-American Farms, said that the new owners’ consortium had honoured their commitments throughout the process. He praised the patience, perseverance and flexibility of their approach.
Boschendal’ main shareholders today are 550 previously disadvantaged investors in a consortium headed by Chris Nissen, along with IFA Hotels and Resorts SA and Citation Holdings.
The farming operation on Boschendal has continued intact, while the heritage homes, particularly the Manor House, remain open to the public.
The labour force have received 611 homes at Lanquedoc, while another 85 hectares of residential and agricultural land worth R67 million is being donated to the community.
Said Venning:”We are trying to maintain this very responsible commitment. We have already donated some R740 000 to local schools and community outreach projects and the community will benefit from all residential property sales. We are also ceding 140 hectares of land to the local community.”
In all, Boschendal’s corporate social investment programme will total over R450 million.
Now that the transfer of the additional land to Boschdendal has been completed, the new owners are preparing second phase development proposals, said Venning.
These are in line with World Heritage stipulations and will not encroach on productive farm land. In total only 11% of the total estate will be built on, including the 5% already covered.
