Agency cracks another Nahoon River record

News > news - 12 Jun 2009

Just six months after negotiating a record price for a luxury home in the "Golden Mile" on the Nahoon River, Chas Everitt International East London has sold another property in this upmarket area, for an even higher price.

Marketed at R7,5m, this modern mansion is set in a 1600sqm garden on the river, and has three lounges, four en-suite bedrooms, an entertainment area, an open plan scullery, kitchen and dining room, a guest bathroom, three garages and staff quarters.

And, notes agency principal Colin Kuhlmann, that's not the only notable sale achieved in recent weeks. A cash offer of R3,5m for a vacant plot measuring

1200sqm's on the Nahoon River was recently received. This is a record price for a plot on the Nahoon River.

"Both properties were featured in our Exclusive Property Portfolio, which showcases high-end properties," he says, "and we also have a number of high-priced commercial and development deals in the pipeline".

Meanwhile, the agency is riding high after winning a spate of awards at the recent Chas Everitt national awards ceremony. It was honoured with the R20m-plus award for the past quarter's performance as well as the annual top sales award for the Eastern Cape region, and it was dubbed top metropolitan agency and top bond originating agency by Chas Everitt mortgage origination partner BetterBond.

This was made possible, says Kuhlmann, by the fact that property market conditions in East London have remained fairly favourable overall as opposed to other parts of SA.

"We've also experienced bond hassles with the banks but demand for our exclusive portfolio has remained high. The average successful sales price has increased to R1,8m for our operation. And the rental market is solid, with house rentals ranging from around R5000 to R7500pm."


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