Two vacant erven sold for a combined R170m in Clifton
Two vacant erven in one of the country's most exclusive addresses have sold for a combined R170m in Cape Town.
The plots, a combined space of 2,700m 2, are in Nettleton Road, Clifton.
While the erven have planning permission for nine apartments, the multinational entity which purchased them plans to build one 'expansive trophy property to crown Nettleton Road', said Annette Hepburn of Pam Golding Properties, who secured the sale.
'This is one of a few remaining vacant sites in this highly sought-after address, where properties rarely become available and when they do, opulent, completed residences can be acquired for upwards of R150m,' said Hepburn.
'Nettleton Road is the most exclusive of all streets in the country, with a limited number of residential properties, large luxurious, iconic homes which offer all the elements desired by high-net-worth individuals — an unparalleled lifestyle, exclusivity, privacy and rarity, and above all, the spectacular views.'
The street is home to captains of industry and luxurious designer homes. The combined sale price of the erven included VAT.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Citizen
12-06-2025
- The Citizen
Housing assets reflect a further recovery in price appreciation
Widely considered a mainstream asset class, offering considerable upside potential in terms of capital appreciation over the medium to longer term as well as a favourable rental income stream, residential property owners and investors will be encouraged by the further recovery in house price appreciation in South Africa. Says Dr Andrew Golding, chief executive of the Pam Golding Property group: 'On the back of the recently-announced (29 May 2025) reduction in the repo rate, further positive news for homeowners and residential property investors is that the recovery in house price inflation (HPI) continues to gather momentum, soaring to a robust 7.2% in April 2025 from year-earlier levels, according to the latest Pam Golding Residential Property Index. 'This surge in appreciation in housing assets is well above the two previous cyclical peaks and the strongest growth rate in national house prices since late-2007. For 2025 to date, national HPI has averaged 6.4% which is double the average for 2024 – which was 3.2%. 'Furthermore, given that inflation remains anchored below the lower 3% inflation target limit, real, inflation-adjusted house prices rose by +4.4% in April, which is an almost 20-year high. For 2025 to date, real house price inflation has averaged 3.4%.' According to the Pam Golding Residential Property Index, growth in house prices has accelerated across all three major regions. Although the recovery in Western Cape HPI leads the way at +7.3%, the strengthening rebound in Gauteng of +5.4% and KwaZulu-Natal's +4.8% is closing the gap, while the recovery in Eastern Cape HPI continues to track the national recovery, with prices rising by +3.2% in April. Meanwhile, revised growth in house prices in Mpumalanga peaked at +3.3% in early-2025 before easing marginally to +3.25% last month (April). In regard to coastal vs non-coastal homes, revised coastal HPI has rebounded ahead of non-coastal house prices, rising by +5.0% and +3.7% respectively in April. Interestingly, while the recovery in non-coastal HPI began in early-2024, in contrast, growth in revised coastal house prices only began to accelerate once more in Q3 2024. Meanwhile, a strong recovery in sectional title house prices resulted in a convergence with freehold HPI at +3.9% in April. Adds Dr Golding: 'Regionally, Cape Town continues to outperform other major metro housing markets by a wide margin, rising by +6.2% in April, followed by an upwardly revised Tshwane at +2.4%, while the recovery in Johannesburg HPI of +1.8% continues to strengthen in tandem with eThekwini at +1.9% – the ninth consecutive month in positive territory for the latter. 'Positively, house price inflation in the coastal market in Nelson Mandela Bay rose to +3.0% in April.' Issued by Gaye de Villiers on behalf of Pam Golding Properties
The South African
26-05-2025
- The South African
Vacant land in Clifton sells for R170 million
In one of the most significant residential property deals in recent years, two adjacent vacant plots on Cape Town's coveted Nettleton Road in Clifton have been sold for a staggering R170 million (£7 million). The combined land area of 2 700 square metres places this transaction among the highest ever recorded for undeveloped residential property in South Africa. The sale was facilitated by luxury property specialist Annette Hepburn of Pam Golding Properties, who described the deal as a rare opportunity in one of the country's most tightly held property markets. 'This is one of a few remaining vacant sites on this prestigious road, where sales are infrequent and vacant land is almost unheard of,' Hepburn said. Nettleton Road, perched above Clifton's four beaches and offering sweeping views of the Atlantic Ocean and Twelve Apostles mountain range, is widely regarded as South Africa's most exclusive address. The street is home to a collection of architect-designed residences, many owned by global business leaders and ultra-high-net-worth individuals. According to Hepburn, the plots were purchased by a multinational entity that intends to construct a single, ultra-luxurious home on the site. Although the land has existing planning approval for nine apartments, the buyer is reportedly focused on creating a landmark 'trophy home' to crown the road. 'This location offers a lifestyle that is virtually unmatched – privacy, exclusivity, dramatic natural beauty, and access to Cape Town's best,' Hepburn noted. 'That combination continues to attract discerning global buyers.' Market activity remains strong The sale comes as property prices in Clifton continue to climb. The median residential sale price in the suburb has reached R34 million in 2025 – up 29% year-on-year and 136% higher than a decade ago. Market activity has also remained strong, with 18 sales already recorded in the year to date, surpassing pre-pandemic levels. While the Atlantic Seaboard has long been a magnet for luxury investment, this latest transaction underscores not just demand for location, but the extreme scarcity of vacant land in South Africa's most elite enclaves. As developers and private buyers compete for prime space, record-breaking deals like this are likely to become more frequent. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Herald
24-05-2025
- The Herald
Two vacant erven sold for a combined R170m in Clifton
Two vacant erven in one of the country's most exclusive addresses have sold for a combined R170m in Cape Town. The plots, a combined space of 2,700m2, are in Nettleton Road, Clifton. While the erven have planning permission for nine apartments, the multinational entity which purchased them plans to build one 'expansive trophy property to crown Nettleton Road', said Annette Hepburn of Pam Golding Properties, who secured the sale. 'This is one of a few remaining vacant sites in this highly sought-after address, where properties rarely become available and when they do, opulent, completed residences can be acquired for upwards of R150m,' said Hepburn. 'Nettleton Road is the most exclusive of all streets in the country, with a limited number of residential properties, large luxurious, iconic homes which offer all the elements desired by high-net-worth individuals — an unparalleled lifestyle, exclusivity, privacy and rarity, and above all, the spectacular views.' The street is home to captains of industry and luxurious designer homes. The combined sale price of the erven included VAT. TimesLIVE
