Luxury real estate: adjacent 2,700sqm vacant erven in Clifton fetch R170 million
A multinational entity based in various countries, has indicated that it is intent on building one expansive trophy property to crown Nettleton Road.
Image: Supplied
Two adjacent vacant erven comprising a total of 2 700sqm have been sold for a total sum of R170 million, VAT inclusive.
The plots of land situated in prime position in what is considered South Africa's most prestigious and coveted address-Nettleton Road in Clifton on the world-renowned Cape Atlantic Seaboard were sold by Annette Hepburn of Pam Golding Properties.
According to Hepburn, a long-term resident agent and area specialist, while these erven have planning permission for nine apartments, the buyer, a multinational entity based in various countries, has indicated that it is intent on building one expansive trophy property to crown Nettleton Road.
She said 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 R150 million.
'Nettleton Road is the most exclusive of all roads 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 which epitomise the essence of the globally acclaimed Atlantic Seaboard.
"Panoramic views from Nettleton Road sweep from the Twelve Apostles Mountain Range to all four Clifton Beaches. This premium location is home to captains of industry and some of the most luxurious designer homes in South Africa.'
Hepburn added that the prime, upmarket suburb, Clifton's residential property median sales price of R34 million for 2025 to date is +29.5% above year-earlier levels and 136% above levels a decade ago.
'Sales activity rebounded post-pandemic, remaining elevated ever since, with 18 sales already recorded this year to date (according to Lightstone data) – exceeding the whole of 2019 and close to the 2023 total of 27 sales. These figures include both sectional title and freehold homes.'
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In February, an independent real estate group said the residential property market on the Cape's world-renowned Atlantic Seaboard has experienced a particularly buoyant start to the summer season, driven primarily by increased demand for luxury property and characterised by stock shortages.
Basil Moraitis, regional head in the Western Cape for Pam Golding Properties, said at the time that the fact that their trading in December (2024) was busy throughout the entire month was a positive indicator and underlines the ongoing demand for Cape Town's sought-after Atlantic Seaboard-notably for prime luxury properties.
Furthermore, they said January (2025) was much busier than December, with February also promising robust sales. Currently, we have a waiting list of qualified buyers, both local and international, all seeking to acquire their own place in the sun on this highly desirable coastline.
Among notable sales in January by Pam Golding Properties are homes in Clifton-sold for R47 million to a local buyer and R46.5 million to an international buyer from Germany, and a home in Camps Bay purchased by a UK buyer for R55 million.
Currently, Pam Golding Properties is marketing a five-bedroom (all en-suite) multi-storey, residence which was designed by award-winning architect, Stefan Antoni, and which is also situated in Nettleton Road, priced at R160 million including VAT with no transfer duty payable.
With 180-degree views across Clifton and the ocean, this world-class architectural masterpiece is said to have unique, oversized, open-plan entertainment areas carefully integrated into the natural environment.
With specifications of international standards, the villa is spread over five levels, each accessible by a private glass elevator.
It includes a bespoke Italian Assirelli designer kitchen, level garden with outdoor lounge and dining areas, exceptional views from the spacious entertainment terrace complete with a 16-metre heated infinity pool, four reception rooms, home office, media room, gym, laundry, steam room, three additional guest cloakrooms, staff apartment with two bedrooms, kitchen and bathroom plus a security suite at the entrance-on ground level. There is 24-hour security, four garages and four off-street parking bays.
Meanwhile, this week, Transnet SOC Ltd ('Transnet') said in a statement that in July last year, it obtained government approval to dispose of its residential properties through auction.
The South African rail, port and pipeline company said the disposal of the residential property portfolio is a strategic imperative, positioning Transnet Property to focus on its main mandate of commercialising the portfolio and maximising returns through best practice asset management principles and standards.
It said the decision to disinvest from the residential portfolio, except for employee accommodation in remote operational areas, is informed by recent loss-making performance and heightened risk exposure.
To action this, Transnet Property has adopted a dual approach, which includes a self-funding component realised through the completion of several disposal transactions for non-core properties, particularly within the residential portfolio, including residential houses, hostels, lodges and line camps.
Transnet Property has taken a strategic decision to urgently exit this portfolio, and the non-core properties will be disposed of through several transactions.
The auctioneering process will be handled by independent auctioneers to ensure transparency and good governance.
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