Clothing tycoon pockets R290m for mansion
A TYCOON who made his fortune in the clothing industry has sewn up the biggest residential property sale in Africa.
He sold his Cape Town mansion to a German businessman for R290-million.
The estate agency that arranged the sale refused to name either party, but the Sunday Times has established that the seller was Shane Thomson.
The German buyer was said to have paid cash for the house.
Dogon Group estate agent Adrien Epstein said the buyer had wanted the best house in Cape Town.
CEO Denise Dogon said the seller “felt that he wasn’t spending enough time” in the country.
Thomson could not be reached for comment, but his LinkedIn profile said he moved to New York in February.
The 10-bedroom house is on the slopes of Lion’s Head. It has a winter lounge, a summer lounge, a bronze coffee bar, and sofas from Paris, upholstered in Italian velvet. Table Mountain, the Atlantic Ocean and Robben Island can be seen from the veranda.
The German businessman bought in the same neighbourhood a “few years ago”, said Epstein, who closed the multimillion-rand deal last month.
The man and his family would spend a few months during the South African summer in the house.
Epstein said that when the buyer saw a Porsche and an Aston Martin in the house’s garage, he bought these along with two adjacent plots.
The Bantry Bay house was built in 2014. Architecture and design company SAOTA said it had been briefed to “create . . . a spectacular home which encapsulates the expansive 360º mountain and sea views”.
The house has won local and international accolades, including one in this year’s edition of the Lafarge Artevia decorative concrete awards in the “house with a view” category.
When Thomson owned the house, Australian artist David Bromley’s pieces hung on the family room wall and there was a sculpture by late South African artist Edoardo Villa on display.
“The suburbs of Fresnaye, Bantry Bay and Clifton have grown considerably and, in certain cases, almost doubled in price over the last three years,” said Dogon.
She said her company had sales of R600-million last month, with 85% generated from the Atlantic Seaboard.
Property economist Erwin Rode said the sale was the most expensive of which he had heard. “God . . . [won’t] make any more land on the Atlantic Seaboard,” he said. “Very little can be added to the stock that is already there. On the other hand, demand keeps growing because of exclusivity.”
The City of Cape Town’s valuation roll shows neighbouring properties to be valued at more than R10-million.