Historic home sold for record price

PGP’s area manager for the Southern Suburbs, Howard Markham, says the previous record price for residential property in the suburb (across all agencies) was R3.3 million, set in October 2010.

“This particular property traces its history back to the 1600’s, although the home itself was only built in the early 1800’s,” says Markham.  “The land was once part of the Bloemendal Estate – one of the Cape’s first major farms, lying on the banks of the Liesbeeck River.  The home now occupies a plot of over 1100sqm, and enjoys complete privacy – so much so, that many of its near neighbours came to our two packed showhouses, amazed to discover that this historic gem had been right on their doorstep without their even knowing about it.”

The thatched cottage has been sensitively restored to exacting standards.  It offers an upper loft level with two bedrooms, while its open-plan ground floor has three reception rooms plus a designer kitchen.  A separate two-bedroomed guest cottage leads out into the water-wise garden with its mature oak trees and swimming pool.  The home has been purchased by an existing Cape Town resident.

PGP’s MD for the Western Cape metro region, Laurie Wener, says the selling price of R4.7 million was far above the norm for the suburb of Mowbray.  “There were 45 full title residential properties sold by all agencies in Mowbray in the 12 months from September 2010 to August 2011,” she says, “to a total sales value of close to R63.5 million.  

This means that the average price for the suburb is around R1.4 million at present.  This particular property sold for far above that level not only because of its historic value, but also due to other factors including its large plot - substantially bigger than the norm in this area - as well as its magnificent views of Devil’s Peak.  It also enjoys a very central location, with easy access to highways, private hospitals and a number of the city’s leading schools, including its immediate next door neighbour St George’s Grammar School, the oldest private school in the country.”

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