Big-time developers with deep pockets have no access to the Johannesburg Zoo.
This according to Seeff, a real estate company that has stated that there is unobtainable land in South Africa that even the uber-wealthy would have trouble affording if it was for sale.
One of the examples of invaluable, but unobtainable, land in Johannesburg includes the land on which the grounds of the Johannesburg Zoo in Saxonwold is located. The reason it is off limits is because it was exclusively zoned decades ago for a specific purpose and it has to remain that way.
Charles Vining, Seeff’s managing director in Sandton said that the land on which the Johannesburg Zoo is located was donated years ago by the firm of the late Hermann Ekstein, upon condition that it should be used as recreational space.
Ekstein’s commitment to making Johannesburg a beautiful and enjoyable place to live is evidenced by the fact that Ekstein was extensively involved in the development of the new mining town in Johannesburg. He had three million trees planted in an area which he christened Sachsenwald, now the leafy suburb of Saxonwold.
The Zoo is 55 hectares (140 acres) in size and has been in use since 1904. Today it is home to 200 individuals of 320 species.
“It is difficult to put a value on this type of land in Saxonwold as it is effectively priceless, but one could use a mathematic calculation based on the price of an acre of land in Saxonwold (R8 million) or neighbouring Parkview (R2 million per acre),” said Vining.
“Since the Zoo is 140 acres the value could be calculated at near R1 billion.”
Vining concluded that in addition to this, the property becomes more valuable when large tracts of land suitable for development can be bought together.
Details: www.jhbzoo.org.za
