Frequently Asked Questions
Who Owns Silvermine?
The land on which the Village is situated, together with all its buildings, is owned by the ARP & P Noordhoek Development Trust; and leased to Silvermine Village Share Block Holding (Pty) Limited on a 99-year lease, with an option to renew.
What is a Shareblock scheme?
Silvermine Village is ‘owned’ by its shareholders.
The separate and exclusive rights of use and occupation of individual cottages is linked to blocks of shares in Silvermine Village Share Block Holding (Pty) Limited. A purchaser acquiring a block of twelve shares gains title to the exclusive use and occupation of a specific cottage and garage.
The Trust holds the title deeds to the cottages. This means no transfer duty is payable and there are no outside shareholders.
What happens when a cottage is finally vacated?
On the death of a resident, or upon leaving the village after three month’s notice, the cottage rights (i.e. shares) are resold to someone on the waiting list.
The resident or his/her estate receives a full refund of the interest-free loan, plus the cost of any authorized improvements made.
What happens to any surplus generated from the re-sale of cottage rights?
The net proceeds after refunding the interest-free loan are used to offset the running costs and to fund improvements made to the village’s infrastructure and facilities.
These costs would otherwise be paid out of the monthly levies collected from residents. One of the main objectives of Silvermine is to maintain its levies at affordable levels through subsidising them where feasible.
Who manages Silvermine Village?
A Board of Directors of residents elected at the Annual General Meeting; and an executive General Manager who is responsible for day-to-day operations.
How do I get my name on the waiting list?
Complete the attached application form and submit it via the link. Alternatively, please complete and email the application to email@example.com.
A non-refundable fee of R1000 is required. This is refunded upon purchase of a cottage.
We will contact you via email when a cottage becomes available.
What is meant by unique combination of rights?
The shareholder and nominated occupant would be entitled to the use and occupation of the cottages but, contractually, also has the enjoyment of the gardens, common areas and communal buildings, plus a vote at general meetings
What items are included in monthly levies?
- Housekeeping Servicing of cottages
- Laundry (12 kg per month)
- 8 obligatory meals per month for one-bedroom cottages and 16 obligatory meals per month for two-bedroom cottages
- Courtesy bus service for regular trips
- 24-hour security
- General maintenance of common property
- Water, Sewerage and Electricity are metered and charged per cottage
- Insurance of buildings. Personal Insurance of contents remains the resident’s responsibility
- External Maintenance of cottage and communal buildings.
Are levies and other charges reviewed on a regular basis?
Prior to the commencement of each financial year, the Board of Directors reviews all current prices and existing policies and presents a budget to residents.
Are pets allowed?
Silvermine Village is pet friendly. A Pet Policy is in place and needs to be adhered to