|
|
|
 |
Newsmaker
Caprice |
I bought my first property in the US about eight years ago,’ drawls South Africa’s latest celebrity property investor, Caprice. She bought her Bryanston house, now valued at close to R15-million, (bottom, left and right) last year and has just spent R15.5-million on a home in Camps Bay (below). The model-turned-businesswoman started buying property with the proceeds of her successful modelling career in her home country, where her mother is an interior designer and her father works in commercial real estate.
Caprice had a humble middle-class life in America, having grown up in a small town called Hacienda Heights, where most of her family don’t even have passports. ‘When I told my grandma that I was going to Paris, she said she’d come and see me… She thought I meant Paris in the US!’
When her modelling career started paying dividends – she launched Wonderbra Week in the UK – she bought and sold various US properties, turning unsightly houses in good areas into desirable homes. ‘I had to turn these properties around within two years to avoid Capital Gains Tax.’ Her mother helped her with the renovations, she says, and the rest was easy.
 Many of Caprice’s first purchases were government repossessions. And she more than doubled her money on most of them when she sold. ‘When I sold my first property in Long Beach, I realised I could double my money and I got really excited.’ From there on, she started investing further afield and now owns two properties in London. She’s also looking at a work-from-home apartment in King’s Cross, an area she believes is the next hotspot. She has also rented out her seven-bedroom mansion in Walton-on-Thames – another lucrative decision.
Caprice says she’d much rather invest in property than the stock exchange which is volatile and which, quite frankly, she doesn’t have time to understand. ‘Property investment is only a hobby for me because I work full time on my business,’ she says, having spent the last few years working and living in London. The interesting thing is that she’s planning to run her lingerie business, By Caprice, from South Africa and is even considering manufacturing some of the products in her range here.
This is truly where her passion lies, and her investment is big: around �� 000 (about R7.25m), according to a London newspaper. ‘It’s what drives me and is the most rewarding thing I’ve done to date,’ she says. ‘Who would have thought? When I was a little girl I wanted to be the governor of California…’
Caprice puts her money where her mouth is and so far, she’s never been wrong. She does market research before she commits to a property. ‘Mostly I compare the property price to other prices in the area. If it’s a junkyard but in a good area, I’ll buy it.’ Like her five-bedroom, five-bathroom Camps Bay home, which she says is a bargain at R15.5m. ‘Other houses in the same street are on the market for R25m.’ The house is a business investment, Caprice says, adding that the market has grown on average by 20 per cent per annum. It’s not an investment she takes lightly, either, considering that the price is high even by international standards.
She was renting the Camps Bay house over the Christmas period when she made the offer. And the owner accepted. ‘I can use it for working in Cape Town and also to entertain clients like the CEOs of department stores from around the world. The house is a little more modern than Bryanston, with concrete screeded floors and lots of chrome and metal finishes.’
Tanya Joubert of Lance Real Estate, who sold the Camps Bay house, says it has spectacular views from the 80m² top-floor main bedroom but is still very private. ‘It is really glamorous – with a jacuzzi and plenty of glass – and has been used for movie and commercial shoots,’ she adds.
Transactions in SA are quick and easy, Caprice says, but this is probably due to the fact that she’s paying cash and, as she points out: ‘Cash is king.’ It’s easy to buy property as a foreign investor, she adds. ‘But getting a phone line? It’s shocking!’
Bryanston is where she plans to spend a few months a year. She says buying this property was based on gut feel. She arrived two weeks before to launch her lingerie range and immediately got in touch with an agent, who started looking for a house she could buy. The previous owners of the Bryanston house had two offers fall through and they had already bought a new home, so they were open to some hard negotiation. ‘It was a seventies disaster,’ Caprice says, but the stand is about 7 000m², with a glorious garden and sweeping views of Sandton.
The original home was knocked down completely and a new house built according to her liking. The renovation was only recently completed by design consultant Josh Bronkhorst. Caprice likes earthy red and brown tones and her preference is for open-plan living. Another feature is that all her homes have work-from-home spaces. The Bryanston house has four bedrooms, including a master bedroom with two fireplaces and an oversized dressing room. The open-plan entertainment and living space includes a bar, pool tables and a mini dance floor. ‘It’s a bit seedy,’ she laughs coyly. ‘But it’s fun… I have the ultimate bachelorette pad!’ Her favourite room in the house is the living room from where she has views of her pool and outdoor water feature on one side and of Sandton on the other. ‘It’s very Zen.’ She doesn’t have lots of staff to look after her, only Texan, who has tended the garden for 31 years.
Crime is a concern for Caprice, so she has taken a bit of a Fort Knox approach: high walls, electric fencing, four alarm systems and a 24-hour guard outside the house. Apart from the crime issue, Caprice is totally taken with South Africa. ‘I travel all over the world and this is the most exciting place. There is so much talent here and the lifestyle, people and business opportunities that exist will make it the one of the most profitable countries in the world.’
She’s a bit of an ambassador for the country, supporting local designers. ‘I love the Rosebank Flea Market where I found some jewelled lamps.’ Her latest gem is a young designer called Thuli who has just designed her summer collection. She also launched the local production of the tongue-in-cheek musical Debbie Does Dallas at the Civic Theatre.
So where is home for Caprice? By her own admission, she’s a bit of a nomad but when she dreams of home, she says, she’s in her mother’s house in California.
|
|
 |
WIN!
