A magnificent five-bedroom mansion - previously featured in our Home Improver magazine - pristine with uninterrupted views of the Atlantic Ocean and sharing a backyard with Lion’s Head, has sold for a whopping R160 million.
Well-known Atlantic Seaboard estate agent Lance Cohen, who sold the elegant villa, says the closing price made it the second-highest recorded sale of a residential property ever in South Africa, and 50% higher than the highest price of a property ever achieved for a sale in Fresnaye.
Fresnaye is one of the most sought after areas on the Atlantic Seaboard and boasts a wind-free enclave.
Cohen, owner of Lance Real Estate, who says the buyer wishes to remain anonymous, believes the Omicron variant has peaked, seeing “many foreigners flocking to Cape Town as the desired place to be with Covid numbers on the rise, and European winter in full swing”.
Read the latest Home Improver's digital magazine below
“This coupled together with a relatively weak rand and the fact that property prices declined substantially from the highs of 2017/2018 and continued to decline during Covid-19, whilst other countries like America, Australia and the UK saw a substantial increase in price, makes the Atlantic Seaboard is offering very good value for money.”
The villa has a clean-cut but cosy interior that seamlessly blends into an immaculately-maintained garden.
The property has sleek designs and clear craftsmanship with an ode to mixed media throughout.
From the light fixtures to the state-of-the-art kitchen, the floor-to-ceiling windows that offer natural light and the dark wooden floors with a magnificent marble staircase are just some of the design features to be noted.
An infinity pool and several comfortable outdoor sofas, add to the allure of the home making it a perfect retreat from the urban surroundings into nature.
The home could either be the perfect family home or an entertainer’s paradise.
You will also find:
* a wine cellar,
* cinema room,
*fireplace and outside bar and entertainment area.
“These are not just your average amenities as they have been specced out to offer the best of the best,” says Cohen.
Coming off the back of a successful year with a record-breaking sale of R125m Cohen broke his own record by selling this property at R160m.
Cohen adds: “The volume of sales of October, November and December last year were considerably higher than what they have been for the last couple of years.
“It is of my opinion that the prices on the Atlantic Seaboard will continue to steadily increase as inventories which were very high start to decrease.”