select
|

New record price for Ottery residential property

A new record has been set for residential property in Ottery, located on the eastern fringe of Cape Town’s Southern Suburbs. 



Pam Golding Properties (PGP) agent Nazeem Salie has obtained R2.5 million for a home in the suburb – substantially topping the previous record price of R1.7 million for a single residential property, set in 2011.

PGP’s area principal for Ottery, Nazmie Anthony, says the buyers were looking to upgrade to larger premises to accommodate their extended family, and were attracted by the scale and luxury of this particular property, as well as its location within a quiet circle with virtually no through-traffic.

“The home was purpose-built about four years ago for a large family,” he says, “and finished with a number of modern luxury features. It occupies a substantial erf of 800sqm, which is well over the norm for Ottery. There are six bedrooms including a deluxe master suite, and spacious reception areas flowing out through sliding doors to the pool area and garden. Other features include a prayer room, gym area, Jacuzzi and state-of-the-art gourmet kitchen, as well as staff quarters.”

The home also offers excellent security including a camera system and electric fencing, and has solar heating for the pool, Jacuzzi and geysers. There is WiFi access throughout the house, and a surround sound system which can be independently controlled between the two storeys.

“This property offers luxury on a scale that is unsurpassed in this area,” says Anthony, “so it is no surprise that it commanded a top price. However, it is quite remarkable that the previous record was topped so substantially, by a full R800 000. This is indicative not only of the quality of this property, but also of the growing appeal of the area.”

Ottery’s appeal includes its central location adjacent to the M5 highway, which means that the central city can be reached within 15 to 20 minutes’ drive. Neighbouring suburbs include Wynberg, Kenilworth and Plumstead, as well as the Philippi farming area and the Youngsfield Military Base. The suburb is home to Cape Town’s oldest golf club, the Royal Cape, which was established in 1885 and remains one of the most popular and accessible clubs in the city.

Anthony says the suburb offers a range of schooling options, including pre-primary, primary and high schools, as well as special needs facilities.  There are substantial commercial and retail elements, including a Pick n Pay Hypermarket, Makro and Chinatown, as well as several smaller convenience centres. A number of medical practices can be found in the suburb, while major hospitals can be accessed with ease in neighbouring areas. Another drawcard for families is the presence of several play-parks and soccer fields for children to enjoy.

There is a wide variety of homes on offer, falling into three distinct pricing brackets.  Entry-level properties include sectional title apartments or homes on modest erven of around 200sqm, typically offering two bedrooms and priced at around R625 000. Mid-level properties occupy erven of around 500sqm and usually offer three bedrooms at prices between R850 000 and R900 000. The suburb’s top end typically sees homes on 650sqm offering four or five bedrooms, priced from R1.3 million to R1.4 million. “A handful of more luxurious homes can fetch above R1.5 million, but these are quite a rarity - as was the case with this record priced property,” adds Anthony.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK