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Last Chance at the “Lost Treasure” of Plettenberg Bay

The tender process on a trophy property on the world-renowned Robberg Beach, in Plettenberg Bay will be finalized on Thursday the 14th of January 2010. At 42,825m² (4.28ha or 10.58acre) with 184m (603ft) of beachfront, this is the largest beachfront property in South Arica’s premier coastal destination.
           
Of interest is the fact that the tender process is by closed bid; i.e. no one, not even the estate agent, will know what the bids are, until they are opened on the closing date and the highest offer is considered.
           
Hein Pretorius, the principal of Lew Geffen Sotheby’s International Realty Plettenberg Bay, the mandate holder, says “there have been expressions of interest from local and international buyers, from individuals as well as consortiums, however it is impossible to say what the final offers will be. The property could go for a bargain or it could go for a record price.”
 
“It is very difficult to place an accurate estimation of value on a property of this caliber. The highest price for a residential property in Plett has been R50 million to date and the market did not think that a price that high was attainable until it was actually achieved. A property a fifth of the size further up the beach from the “Lost Treasure” recently fetched R25 million, so we are quite excited at the possibilities for this property.” concludes Pretorius.
 
ABOUT LEW GEFFEN SOTHEBY’S INTERNATIONAL REALTY
Since the founding of the Sotheby’s auction house in 1744, the Sotheby’s name has earned renown as a marketer of the world’s most valuable and prized possessions. The Sotheby’s International Realty® organisation began in 1976, in part to serve clients desiring a complete package of estate agency services, and soon became known for representing the best properties in each class throughout the globe, from cottages to mansions.


Although the affiliation to the Sotheby’s International Realty® network commenced in July 2003, Lew and Sandy Geffen created the base of real estate excellence when they opened their flagship office, Lew Geffen Estates, in 1982 in Johannesburg. Assisted by current CEO and Co-Owner Brent Townes, the Lew Geffen Sotheby’s International Realty brand has developed into a truly international real estate service infusing local knowledge, know-how and credibility.


With over 60 offices across the nation, and agents in every corner of the country, Lew Geffen Sotheby’s International Realty is at the forefront of the real estate market in South Africa by offering Clients expertise in the residential, leisure, agricultural and commercial real estate markets.  Furthermore, Lew Geffen is Chairman of the board of the newly launched Savile Row Auctions. Savile Row Auctions has been chosen as the exclusive provider of property auction services in South Africa for properties listed by Lew Geffen Sotheby’s International Realty.


In support of their commitment to driving and sustaining excellence within the industry, Lew Geffen Sotheby’s International Realty founded an in-house training facility known as the Learning Institute in 2004. The Learning Institute is a reputable Services Seta Accredited training provider for the real estate industry and is currently training real estate agents from all areas across the country.


Distributed on behalf of Lew Geffen Sotheby’s International Realty by:



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