Another ‘estate capture’ battle looms
Another legal showdown is looming between the developers and homeowner trustees of Pearl Valley Golf & Country Estate after last year's bruising ‘estate capture’ battle.
This time, a new development called The Acres is at the centre of the dispute between the parties.
News24 reports that members of the Pearl Valley Homeowners' Association have warned owners of the impact of incorporating up to 165 new families into their facility.
The homeowner trustees of the estate between Franschhoek and Paarl claim that the developer is attempting to force it to incorporate The Acres, thereby extending its development period.
They are now planning to take a swing at developer Pearl Valley Investments in a showdown that's set down for hearing in the Western Cape High Court on 11 October.
The Acres, situated on the Pearl Valley side of Val de Vie, consists of plots ranging from 700m2 to 4 040m2 and was launched four years ago, reportedly selling R50m worth of stands within 24 hours.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
