A toast to the good life

A high-end property with its own vineyard and wine-making studio in trendy Fresnaye is bound to pique interest. Lea Jacobs takes a look

HOME to the rich and famous, the property market in Fresnaye, an upmarket suburb in Cape Town, showed significant growth last year, when sales totalling nearly half-a-billion rand were recorded.

Set on the slopes of Lion’s Head on the Atlantic Seaboard and sheltered from the notorious south-easterly wind, the area is a magnet for those looking for outstanding views of the Atlantic Ocean and the convenience of living minutes away from the best that Cape Town has to offer.

In addition to the numerous restaurants, bars and shops nearby, the golden beaches of Clifton and Camps Bay are situated within walking distance, while the V&A Waterfront is down the road.

Not surprisingly, property in this area remains a sought-after commodity and, while the statistics compiled by Lightstone show that sales are not yet peaking at the levels seen in 2007, the number of properties sold last year had increased on previous years.

“The demand for family homes in Fresnaye has seen sales volumes almost double in the last year to 60 property sales, up by 43% on the 42 units sold in 2011,” says Seeff’s luxury market specialist, Lance Cohen.

In 2011, there were only eight sales above the R10m price band with the highest price achieved at R13.5m for a villa. During the past year, 14 properties sold above this mark, three of which topped R20m, including a record suburb price of R42m for a luxurious 1,000m2 villa in Ave Alexandra.

“Since 2010, we have seen a year-on-year strengthening in both sales volumes and average prices,” says Cohen.

In 2008-9, only about 50 properties were selling at an average price of R5.7m. The nominal average price has also strengthened by 15.6%, up from R6.4m in 2011 to R7.4m in the past year.

The suburb is especially popular with family buyers. Palm tree lined avenues and French colonial architecture add to the allure.

On offer is a one-of-a-kind lux- ury family villa with a private vineyard and wine maker’s studio.

“The property is set high up against Lion’s Head and enjoys breathtaking sea views,” says Cohen. “It comprises a double stand of 1,432m2 that includes a 699m2 vineyard with a wine maker’s studio, wine cellar and tasting room. The current owners bottle their own private label wine.”

Built on four levels, the villa offers 733m2 of floor space. The interiors are ultra modern and minimalistic with interesting architectural touches, underfloor heating and air-conditioning.

The main living areas are located on the second level and open onto an entertainment terrace with braai facilities, an outdoor lounge and a rim-flow swimming pool. Also on this level is a study as well as a gourmet kitchen with an adjacent playroom. There is also a wine cellar/poker room on the ground floor level.

The upper section includes the main bedroom with a dressing room and en-suite bathroom that opens onto a private courtyard.

There is an additional one-bedroomed guest suite with a separate entrance, living area and kitchen on the first level. This suite opens onto a private balcony with a rim-flow plunge pool.

The property includes a twobedroomed staff flat and garaging for five cars. Price: R47.5m Contact: Seeff Properties Lance Cohen 082 416 6103 Office 021 434 9175