LOOK: Inside the R157 million record-breaking sale on Cape Town's elite Nettleton Road
Image: Supplied / Lance Real Estate
Nettleton Road in Clifton in Cape Town is regarded as the country's most exclusive street, and now a luxury house there has just been sold for a whopping R157 500.
Number 5 Nettleton Road is an architectural masterpiece boasting breathtaking views of the Atlantic Ocean and the iconic Twelve Apostles. This luxurious property features its own cinema, gym, and elevator, along with five en-suite bedrooms, each offering sweeping views and a private balcony.
There are parking bays for five cars as well as two self-contained staff quarters. The home is also temperature-controlled throughout - ideal for those balmy days or when the south-easter howls across the peninsula.
A vast deck with a rim flow pool add to the splendour of the designer home.
Image: Supplied / Lance Real Estate
"In a nutshell, it is the most expensive house sold this year in South Africa, but I cannot divulge the South African buyer's name," said Lance Cohen, owner of Lance Real Estate.
Known as the Pentagon, this home was designed by world-renowned architect Stefan Antoni, who lives next door, Cohen shared.
'It has been on the market for a while with an asking price of R160 million, and was quite a process, with two prospective buyers," he said.
Each of the five bedrooms are en-suite and have uninterrupted views of the ocean.
Image: Supplied / Lance Real Estate
"Boasting lavish interiors throughout the home along with a double volume entertainment area that merges effortlessly with the mountain and garden, which leads onto a large terrace with a rim flow pool overlooking Clifton," he said.
Nestled between the forested foothills of Lion's Head and Clifton Beach below, the home also offers a tranquil back garden.
Cohen added that Nettleton Road has seen a few significant recent sales, with three vacant plots fetching a total of R170 million.
Cohen believes that interest in this area, along with the broader Atlantic Seaboard, is likely to remain buoyant, with inquiries from both foreign and local buyers.
"Cape Town is much in favour with the world right now across various publications, but when you look at London and Paris, Barcelona and parts of Europe, they're looking a lot more unsafe," he said.
"A few weeks ago, the most expensive apartment was sold (on the Atlantic Seaboard), and basically it is saying that the market is reaching new highs, demand has never been higher in Cape Town, rentals are off the charts, everyone wants to come here," he said.
Cohen said the shortage of residential property stock will inevitably keep prices elevated, as more people decide to invest in the city or relocate there.
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