Tara Hospital is on exclusive land

Big-time developers with deep pockets don’t have access to any land their hearts desire.

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 include the land on which the Tara Hospital in Hurlingham 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.

Tara Hospital was originally a large and opulent house built in the style of the 1930s, owned by the Tillett family. Visitors and residents approached through majestic gates on the south side of the property and carried on down a driveway which ended in a circle under the decorated portico.

In 1942, the property was sold to the government and became the Defence Force Inland High Command Headquarters during the late stages of World War II. Towards the end of the War, the property was leased to the Red Cross and Major Jack Penn’s renowned plastic surgery unit was installed.

When demand for plastic surgery declined, the property was transformed into a pioneering mental health hospital and today it is a public sector specialised psychiatric hospital, rendering specialised services to people with serious mental illnesses.

Charles Vining, Seeff’s managing director in Sandton, said the land on which the hospital is located is extremely desirable, but cannot be used for residential purposes.

Vining explained, “Tara is zoned in the suburb of Hurlingham, and the highly desirable suburb of Sandhurst begins on the opposite side of the property, in Saxon Road [where the Saxon Hotel is]. Homes in Sandhurst are priced from R10 million, but most often upwards of R20 million.”

He added that the land on which the hospital is located is about 11.5 hectares (29 acres) in size. An acre of land in Hurlingham is priced at around R8 million. Applying this math, one would calculate the land value of the Tara Hospital property at R230 million.

“If you look at prices in Sandhurst however, stands cost between R12 million and R16 million per acre and so the Tara land could, in fact, be worth more than double the estimated R230 million,” explained Vining.

“The conditions of the title deed to the Tara erf stipulate, however, that the land may only be used as a public space and, for this reason, it will not likely be able to transfer to a private owner.”

Details: www.theheritageportal.co.za