Cape Town's exclusive Clifton suburb is known for its incredible multi-million rand beachfront properties but it is an R1.25 million listing that is causing quite the stir. Situated on the roof of the San Michele apartment building in Victoria Street interested buyers can shell out a cool R1,25 million for a parking bay.
Adrien Epstein, a luxury property consultant at the Dogon Group - listing agents for the parking bay - told Business Insider that for parking to be available in such a prime location is incredibly rare as many of the buildings in this area were built in the 1950s where street parking was the norm. Now, there is a shortage of them.
The open-air parking obviously offers beautiful ocean views, private security and access via the building to one of Cape Town's most popular beaches, Clifton 1st. During peak summer months this parking and access will be in very high demand.
You'd be mistaken for thinking that this is a first - another bay in Clifton sold for a record of R1.65 million in 2017, while others sold for R1 million and R1.1 million in Clifton and Bakoven respectively.
“We’ve seen garages for more. But I think [the bay] is correctly priced for what you are getting. You must compare that some of the houses (in the neighbourhood that) sell upwards of R30 million. So for R1.2 million, it comes in at a bargain,” said Epstein to Business Insider.
You can listen to Jay Caboz, a journalist at Business Insider, talk about this listing and others here: Cape Talk
