Cape Town prop­erty, or a toi­let?

Financial Mail - Investors Monthly - - Opening Bell -

If the mar­ket’s mem­ory is akin to that of a gold­fish, the one num­ber that will nev­er­the­less stick in peo­ple’s minds from the past few months is the rand plung­ing to nearly R18 to the dol­lar, post-Nenegate.

And for those who gulped and boarded a plane to a for­eign land over the fes­tive sea­son, the wal­let-sear­ing pain of buy­ing any­thing more lav­ish than a cup of coffee won’t fade any­time soon.

Of course, the re­verse is also true: the English cricket sup­port­ers who ar­rived in SA to watch the test se­ries even con­cocted a hearty song, which starts “R23 to the pound …”, which they sang in uni­son at the Wan­der­ers cricket ground in Jo’burg.

(As you can imag­ine, it didn’t get any eas­ier to hear when the Poms beat the Proteas in the test se­ries too.)

So in this con­text, what you cer­tainly won’t be do­ing is splurg­ing R23m to buy a pub­lic toi­let in Spi­tal­fields, one of the trendi­est spots in east Lon­don.

In­cred­i­bly though, that’s the ask­ing price (£999,000) for an old un­der­ground toi­let, the site of which has most re­cently been used as a night­club (max­i­mum ca­pac­ity: 60 peo­ple).

Ac­cord­ing to The Guardian, es­tate agents are mar­ket­ing it as “charm­ing and quirky”, and “bril­liantly si­t­u­ated”.

Let’s not for­get that R23m is what a Rus­sian busi­ness­man paid a few years ago for the Cas­tle in Hout Bay, next to Cape Town. But in­stead of a cramped toi­let, he got the run of 8.5 ha of ter­raced gar­dens, a nat­u­ral wa­ter­fall, a swim­ming pool, an es­tate with its own wa­ter sup­ply and elec­tric­ity gen­er­a­tor, and a ban­quet­ing hall.

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