The insurance company of yesteryear has now been diversified into various companies and partnerships focused on property, investments and joint ventures. Barinor Properties specialises in the development, management and administration of premier property, and in expert property investment to generate capital growth and rental income.
Barinor is particularly proud of "The Vineyards Office Estate" development in Jip de Jager Road in Bellville – a successful project undertaken in partnership with Bridgeport Properties. The first sod of this R300 million project was turned in 2003 after obtaining approval to rezone part of the Door de Kraal farm which was no longer suitable for viticulture. The development consists of a number of platinum-grade office blocks in the neo-classical Cape Dutch architectural style.
Commercial developments include industrial parks and factories i.e. River’s Edge Business Park (Stikland).
Barinor strives for and continuously achieves a 100% occupancy rate of its investment properties, which is testament to its intelligent and strategic focus on cultivating mutually rewarding business partnerships. The company takes great pride in constructing and associating itself with commercial properties of the highest calibre. Barinor Properties (Pty) Ltd is responsible for the management of the Group’s own properties.
The Park Management division has been appointed as manager of estates such as "The Vineyards Office Estate" in Bellville and the "River's Edge Business Park I & II" in Stikland. The Park Management portfolio is to be expanded in the near future when the new development has been completed, i.e. "Klein D'Aria Estate".
kLEIN D'ARIA ESTATE
Through its 100% shareholding in D’Aria Vineyards (Pty) Ltd, Barinor is the primary stakeholder in the Klein D’Aria Estate development on Jip de Jager Road in Bellville. This upmarket commercial and residential development offers investors and commercial tenants the perfect balance between modern neo classical architecture and countryside living, and was undertaken in partnership with RPP Developments and Devmark Construction.
This development is located on the D’Aria Wine Farm and offers 19260sqm of commercial properties, 1000sqm of retail property, and 22 residential erven. Whilst the majority of the commercial properties will be sold, the Group will retain a portion thereof in its commercial property portfolio. Groundworks commenced in 2017 and the development will be completed in two phases, with phase I scheduled for completion during 2018. No commencement date has been set yet for phase II.
Commercial interests in the Estate are being marketed by Barinor, while a mandate for the sale of the residential properties has been given to a local realtor. Details of the development can be obtained from the Estate website www.kleindariaestate.co.za.
Durbanville Inner Valley
The “Durbanville Inner Valley” project consists of the seven wine farmers from the Valley who farm Altydgedacht, Morgenster, Bloemendal, Nitida, Maastricht, D'Aria and Altydgedacht II respectively. The area occupied by the above mentioned farms extends over 1 294 ha with 538 ha currently under vineyard.
The farmers of the Durbanville Inner Valley project have for several years recognized that, despite the excellent wines produced in the valley, wine farming is not a sustainable endeavour. This is due to high production costs, low yields per hectare, as well as several other factors. Consequently, additional revenue streams must be identified, and in recent years, there has been relentless pressure to develop housing in this area.
Whilst this project is still in infancy, all of the Durbanville farmers are alive to the pressure to utilize agricultural and conservation land for housing or business development. The farmers have therefore felt that a joint initiative by all the land owners in the valley, assisted by a professional team of experts, should be established to develop a multipronged sustainability model such as that in the Napa Valley in the United States and elsewhere in Europe.
This project is currently in its early stage.
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