Weekend Argus (Saturday Edition)
You’re very far from stuck in this cul-de-sac
Nettleton Ridge, Clifton offers just four megamillion-rand homes for sale
JUST one of the four luxury homes is still available for sale at Nettleton Ridge, a multimillion-rand gated estate in Nettleton Road, Clifton – the most expensive cul-de-sac in South Africa just below Lion’s Head.
Seeff agent Lance Cohen says the location, sea views and luxurious design and finishes of the homes make this one of the most desirable estates in the country. “The development offers privacy and remarkable views over the Atlantic Ocean, Camps Bay and the Twelve Apostles, all factors that contribute to the high value of property in the street and suburb.”
One buyer here paid R111 million for a luxury villa sold by the agent last year.
The four free standing Bauhaus- influenced homes were designed by Peerutin Architects. “All four of the houses follow a broadly common theme and are integrated into the landscape, but each includes custom-designed features, technology and finishes,” says Cohen.
The 1 200m house for sale on a 1 627m plot has a 224m2 terrace, a 70m2 swimming pool, and a lift that serves all four levels. The primary accommodation is in the top two levels in a floating construction and the bottom two levels house the ancillary accommodation.
There are four bedroom suites as well as guest and staff accommodation.
Features include a wine cellar, a media room, a study, a playroom, a gym, a Jacuzzi, a sauna and a swimming pool. Heating and cooling are provided throughout, and the house has a generator and a six-car garage.
As with most of the homes in this exclusive suburb, it is designed for luxury living with indoor and outdoor entertainment areas, all facing the sea for magnificent views, says Cohen. “Nettleton Road commands the highest prices in the country with values now about 50 to 100 percent higher than they were five years ago.
“Clifton itself now boasts an average price of around R20m and it recently peaked at R23m. This is R5m to R9m higher than the average price of the next nearest most valuable suburb in the country,” says Cohen. “Although apartments now sell from about R20m, top prices are easily reaching R60m. About two years ago, a large apartment sold for R190m.
“There are still older houses priced at around R20m to R30m, but those in the top ranked streets such as Nettleton, Clifton and Kloof Roads now command average prices well above this,” says Cohen.
He says Nettleton Road prices range from around R39m to R150m, with the R200m price mark now looking well within reach. “Prices are rising rapidly as the desire for property here has increased exponentially. Buyers and investors realise that their investment here is surrounded by property worth millions and billions for this small suburb as a whole.
“In Nettleton Road the highest price paid here just five years ago was R60m, whereas today it is almost double that at R111m, and land in the suburb has sold for R70m.
“The highest price paid in Nettleton Road for example was by a Joburg buyer who spotted the enormous investment potential of the suburb. The Nettleton Ridge house is expected to fetch a price of close to R150m.”