Launching its most exclusive development to date, 2tribes introduces AO Luxury Residences.

Residents will have access to the services of the neighbouring Royal Palm and Mervill Beach hotels and access to Merville Beach.

Grand Baie Centre is also within walking distance, offering a host of dining and retail facilities. Dean Yeadon, 2tribes’ owner, says, ‘The development will feature a range of exclusive villas and semi-detached villas, priced from €800 000 to €1,5 million (R8,7 million to R16,3 million).

We have finally purchased a location that allows us to offer upmarket villas and chalets, something we have tried to do for the past four years. It really offers a lifestyle in terms of space and top-quality finishes that has never been seen in the north.’

The larger villas are 470m2, with four bedrooms, and are ideal for families. The semi-detached villas are 280m2 and have three bedrooms. Two parking bays have been allocated per residence.

To complete the leisurely tropical lifestyle, the amenities at AO Luxury Residences include a spa, a concierge and a water sports centre.

+27 (0)11 083 7008, 2tribes.net

Mauritius is a popular location among homebuyers and there is consistent demand for upmarket, modern developments that incorporate the island lifestyle. With a large stake in the Mauritian property development sector, 2Tribes is the only South African developer on the island and has a portolio of successful commercial and residential properties to its name, including Grand Baie Business Quarter, La Residence and Element Bay Resort.

2Tribes works closely with South African architects and interior designers to create homes and offices that are contemporary, stylish and functional. The company is adding 30 units to Element Bay Resort. These will include two- or three-bedroom simplex and duplex apartments, priced from R2,8 million each. The apartments will have superior finishes, and furniture packages will be available on request.

Well suited to those in the market for holiday homes or retirement properties, Element Bay Resort is situated a few minutes away from its sister development, Grand Baie, in the north, which offers a host of entertainment facilities. Residents can also make use of the wide array of water sports facilities provided by the nearby Coin de Mire Hotel.

With easy access to a picturesque beach, Element Bay Resort captures the essence of luxurious island living. Each apartment has a parking bay, and a private terrace or balcony overlooking the swimming pool. Ground floor units have private terraces that extend out into the garden.  A profitable fringe benefit for owners is the rental pool, where their properties are actively marketed, for a 4% to 7% return on investment.

+27 (0)11 083 7008, 2tribes.net

Words: Catherine Riley

Published: 2011/10/21 09:48:33 AM

WITH a strong economy which has remained resilient in the face of a global economic crisis, Mauritius is proving increasingly appealing to  international property purchasers.

With personal and corporate tax at 15%, Mauritius has no foreign exchange control, free repatriation of profits, dividends and capital, and double  taxation agreements with 33 countries — including SA. Rated first in Africa in the 2011 World Bank’s Doing Business Report, Mauritius is ideally  positioned to do business on an international level.

Fabrice Orengo de Lamaziere, a director of Pam Golding Properties’ International & Projects Division, reports that during the past three years alone  they have sold in excess of 120 apartments and penthouses on the island at a total sales value of over R600m. Of these, 78 upmarket residential units at a combined value of in excess of R400m were sold in just three Real Estate Scheme (RES) projects — all successfully developed by South African developers 2Tribes. Real Estate Schemes comprise freehold residential property with individual erven below 10ha in size, which can be purchased by foreign buyers.

Says De Lamaziere: “From 2003 until some three years ago, the bulk of residential properties in Mauritius which were sold to foreigners were expensive villas that were purchased by affluent Europeans or South Africans as leisure homes, where they would spend a few weeks or months a year on holiday.

“With the global economic crisis this market began to slow down. Although there is still a European market comprising mainly French buyers for these large villas, which are generally priced at over R9m, the Mauritian market managed to re-invent itself with a new ‘breed’ of property — appealing lock-up and go, often luxurious apartments which the owners visit for short holidays several times a year and which generate rental income for the rest of the year.

“These apartments, which attract many South African buyers, are priced from R2,5m, and although mortgages are available in Mauritius, most of these apartments are purchased with cash,” he says.

Following the recent RES legislation that provides a legal framework for foreigners to purchase this type of property and riding the crest of the wave of this new form of residential development, 2Tribes has been extremely successful in bringing to market appealing, well-designed apartments near the world-renowned tourism capital of Grand Baie.

The town is considered the most popular destination and residential location on the island — as well as being the collection point for boat trips.

In 2008 Dean Yeadon launched 2Tribes in Mauritius. Utilising the experience and network of contacts gained as CEO of Halcyon Africa Hotels and 2Tribes’ residential and leisure developments in Cape Town, Johannesburg, Zanzibar and Tanzania, Yeadon has successfully launched a number of residential and commercial projects in Mauritius, including Cape Bay, Element Bay Beach, Element Bay Resort, La Residence and Grand Baie Business Quarter, generating revenues for the company of over R500m. Working closely with South African architects and interior designers to create homes and offices which are contemporary, stylish and functional, 2Tribes brings a touch of African charm to an island increasingly vibrant with both business and lifestyle potential.

Importantly, owners of the apartments in 2Tribes developments are able to join a rental pool which markets their units to the growing tourism market visiting Mauritius, with rental income generating promising returns on investment between 4% and 7%.

Associated with 2Tribes as exclusive agents from the outset, Pam Golding Properties has successfully sold these three developments. At Cape Bay, with cafe, lap pool and concierge and within walking distance of the beach, 42 of the total of 49 modern, luxury apartments have been sold at a total value of R205m and handed over to purchasers, while at La Residence, an exclusive resort comprising only 26 simplexes and duplexes in a lush garden setting also a stroll from the beach, 20 units have been sold for R100m. At the third development, Element Bay Beach, 16 of the total of 19 high-end apartments have been sold for R96m. With a gym, swimming pool, water sports equipment and concierge, this development is directly opposite the beach. Construction is under way and should be completed within the next 12 months.

Says De Lamaziere: “Following the strong demand for these developments an extension of Element Bay Resort has been launched with 30 two- and three- bedroom, simplex and duplex units all enjoying the same amenities as Element Bay Beach, and priced from R2,8m. Ideal for family holidays, getaways or for those seeking a comfortable retirement, Element Bay Resort is located a few minutes from Grand Baie, known as the St Tropez of Mauritius. This development offers owners access to a wide variety of attractions, which in addition to some of the best beaches in the world include vibrant restaurants, sought after shops and state-of- the-art sports facilities.”

Providing easy access to a picturesque beach, Element Bay captures the essence of luxury, island- style living in a resort environment. While the apartments overlook the resort’s swimming pool, residents can also benefit from the wide array of water sports facilities provided by the nearby Coin de Mire Hotel. Each apartment has a parking bay, as well as a private terrace or balcony while ground floor units have private terraces extending into the tropical, landscaped garden. In a contemporary design and with superior finishes, furniture packages are also available on request.

De Lamaziere says that the ongoing resilience and strength of the Mauritian economy is evident “not only in the real estate industry, with many residential developments catering for local buyers currently under way, but also in the retail sector. Mauritius’s first super mall, Bagatelle, Mall of Mauritius, opened at the end of last month, comprising in excess of 40000m² . Developed in a joint venture between Mauritius’s ENL Group and South African developer, Atterbury Property Developers, the mall’s anchor tenants include Pick n Pay and Woolworths, while the main architect is Gauteng-based Boogertman & Partners. Pick n Pay has also committed to two new regional shopping centres — on the west coast and in the Grand Baie area — which are being developed in conjunction with the South African company, Retail Africa.”

Contact: Pam Golding Properties Fabrice Orengo de Lamaziere 082 492 9756 Office 021 762 2617

Trying to meet Dean Yeadon in the offices of the property development company 2 Tribes, which he runs with partners Sandro Masselli and Jackie Howard, is not easy. Because there isn’t one.

‘I’m a technophile,’ says Yeadon. ‘I just need an idea, a cellphone and a laptop. I work from home and coffee shops. People find it odd that we have R150-million worth of developments on the go, but we don’t have an office.’

His business card has no physical address and no landline. The fax number re-routes to an email. ‘We’re a virtual company with very real developments,’ confirms Yeadon.

Durban-born Yeadon used to develop photographs, rather than property. After completing a degree in journalism at Rhodes University, he did a two-year photographic diploma at Natal Technikon. For years he made a meagre living as a photojournalist.

‘My best story was travelling across Australia on horseback and motorbike in 1993. It took 11 months and was commissioned by The Washington Post.’

He doesn’t ride any more but if he did, it would only be on a Suzuki DR750. ‘A Harley Davidson isn’t a real bike,’ clarifies Yeadon. ‘It’s an incredibly expensive fashion statement.’

Yeadon arrived in Zanzibar on his Suzuki in 1995, one of the first South Africans to get there by bike. ‘I was doing a shoot for a magazine in Tanzania. It was the first time I had been to Zanzibar and I saw incredible opportunity there.’

The opportunity entailed negotiating a deal with local villagers (all land in Zanzibar is owned under leasehold) whereby he secured a 99-year lease on a patch of land, and the villagers secured a percentage of turnover. Then he sketched – and subsequently built – the 40-room Ras Nungwi Beach Hotel.

‘I literally drew it with a pencil and ruler. It obviously had to pass muster, but getting buildings approved was far simpler in Zanzibar in the ?s than it is now!’

Yeadon had a 25 per cent equity stake in the hotel and found a silent, local partner to foot the bills while he set about building and marketing the concern. It was a rip-roaring success and after selling it on, he entered into a joint venture with the Cape-based Halcyon Group and they developed four hotels and lodges together in Zanzibar.

‘We pulled out in 2001 – everything went under due to 9/11. Even though there was no risk to US tourists in Zanzibar, we got no support from American tour operators. It was purely political, not economical. I believe a year later it started picking up again, but I took a loss at the time.’

Back in South Africa Yeadon joined forces with Sandro Masselli, a builder and quantity surveyor. They had met when Masselli honeymooned at Yeadon’s hotel. And so 2 Tribes was born. Jackie Howard, a former financial director of a major auditing firm, increased the numbers later but the name remained the same.

Their first account saw them acting as project managers for The Melville development in Illovo, an Art Deco residential complex worth R94m. Currently they have two developments in progress: Kwela Close in Douglasdale and a 180-unit project in Muldersdrift.

Prices start from around R400 000 for two-bedroom, two-bathroom units in both projects. ‘Customers are looking for value and there is a very strong demand in the emerging economic market and first-time buyers – within all race demographics – for properties below or around R450 000, which we feel is largely being ignored.’

And according to Yeadon, you can expect some good finishes at that price. ‘Kwela Close has imported Italian kitchens. The kitchen is often the most vital part of the home so we put the money into the right areas, which needn’t affect the total price.’

Yeadon does not buy into the notion of property being in a ‘bubble’ right now.

‘It’s not about a bubble – it’s about value for money. The booming property market reflects the fact that people are viewing this country as having value again.’

In keeping with his love of all things technological, 50 per cent of the Douglasdale project was sold from the website – physical site unseen. ‘People who bought directly from the Web now get weekly newsletters and electronic building updates as well as virtual tours.’

While their portfolio is increasing, Yeadon is actually keen for his tribe not to. ‘We function as a core management team and then outsource absolutely everything,’ he says. ‘We’re not interested in building an empire; we’re building houses.’

Contact Dean Yeadon +27 82 890 1178 or visit www.2tribes.net

Words: Katy Chance  Photography: Tristan McLaren

Construction in late August

The team at 2Tribes is thrilled with the progress that has been made to Grand Baie Business Quarter (GBBQ) this winter. Within a matter of months, the site has emerged from a tangled web of scaffolding and cranes as an impressive, contemporary commercial building that is sure to become the premier business center in Grand Baie.

As you can see from the images we’ve posted on Facebook we are currently occupied with the cosmetic aspects of the building and its beautification: installing the cladding, mounting the glass facias, laying down the tiles in the interior communal spaces and arranging the car park area. Have a look:

http://www.facebook.com/pages/Grand-Baie-Business-Quarter/203942969655369

A number of key units on the first and second floors are still available to rent or buy. In terms of size, they start at 30 sqm and go up to 800 sqm, and clients can choose from panoramic views of the sea and /or the sugar cane fields which extend up to the mountains in the far distance (the view comes free of charge!).

Currently the client mix consists of a combination of both international and local companies from traditional management-type businesses to high end interior showrooms. They include Sofap, Design Partnership, Communication Centres International, One-O-One, Lising, WSP, amongst others.

As you may know, there are many reasons why Mauritius is proving an attractive destination for overseas corporations. In addition to daily flights to Europe, South Africa and Asia, and country-wide connectivity to the SA-SAT-3 fibre optic cable, enabling high bandwidth connectivity with Europe and Asia, Mauritius boasts extremely low levels of taxation as follows:

Office views over Grand Baie

Office views on the fields & mountains

• Corporate tax – 15%
• Personal income tax – 15%
• VAT – 15%
• No inheritance tax
• Free repatriation of profits, dividends and capital
• No foreign exchange control
• Double taxation agreements with 33 countries, including the UK, France, South Africa, India and China.

For details on how you can relocate your business to GBBQ, including price lists and availability, please send a quick email to 2tribes@2tribes.net, and let us know the best way to reach you. You can also leave us a message on any of our Facebook pages.

In the meantime, we hope you have an enjoyable and, of course, profitable, week.

Best regards,

The team at 2Tribes
2tribes@2tribes.net