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Apartment on Clifton's Moses Beach sold for record R48M

Category Property News

AN APARTMENT on Clifton's Moses Beach has sold for R48 million, the highest price recorded for an apartment sale in the city and possibly the largest residential property sale ever in Cape Town. The 720m2 duplex is located on the bottom two floors of Eventide, the most recently constructed apartment building in the Atlantic Seaboard suburb. It was sold by Dogon Group Properties (DG).

This time last year, DG sold a four-storey, 1 248.39m2 Clifton villa for R42m, which at the time was the highest price recorded for a house sale on the Atlantic Seaboard. "This is the finest property on the sea in South Africa without a doubt," said Denise Dogon, DG chief executive. The buyer works in South Africa and the United Kingdom, and the apartment was bought as "a long-term investment, and not to live in," she said.

The buyer had characterised the sale as "a strong show of confidence in the South African economy". The agency facilitated the initial off-plan sale of this apartment in early 2003 for R25m, which at the time was the highest price recorded for an apartment sale on the Atlantic Seaboard. It was subsequently decorated by Johannesburg interior designer Stephen Falcke and was re-sold with all of its furnishings and art.

With direct access to First Beach, the duplex features four bedrooms, five bathrooms and two kitchens. There is a grand staircase, double volume entrance and lounge, and glass walls that open on to a balcony of approximately 200m2 on the rocks with a rim-flow swimming pool. A private level of five parking bays enables the owner to park at his front door via a car lift. The Dennis Fabian/Stefan Antoni designed ten-storey building has 32 apartments on a steep slope between Victoria Road and the sea.

The security component includes a concierge, guards and cameras throughout the building. Dogon said they recently sold two other units there: one, for R19.25m, that was half the size of the duplex. In DG's 2008 "premier property portfolio", a Mediterranean style villa in Clifton is listed for R50m.

Author: Dominique Herman

Submitted 22 Jan 08 / Views 334