According to Pam Golding Properties’ area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, reports that prime locations like Camps Bay, with its magnificent setting between ocean and mountains, continue to attract buyers seeking the ideal coastal lifestyle.
“For many, Camps Bay is not just their first choice of suburb, but the only choice,” says Moraitis, “and for those in the top-end price categories, who are generally not under pressure to buy or sell in a hurry, it is worth waiting to find the right home that meets all their requirements. Buyers in the current market are extremely discerning, and demand value for money regardless of the size of their budget. But it is clear that they are still buying. Statistics indicate that on average, 12 homes per year were sold over the R10 million mark in Camps Bay, in both 2009 and 2010,” says Moraitis.
“The trend is continuing into 2011 – there are six sales recorded in this price range in 2011 so far, five of them concluded by PGP. And let’s not forget that this includes the mid-winter period, traditionally the very quietest time of year for sales in coastal areas. We would expect that market activity would escalate substantially as we head into the final quarter of the year, which includes the peak summer months.”
PGP’s most recent sales in the suburb have included R18.5 million for a three-bedroomed beach house on Glen Beach, sold in August 2011, and R13.5 million for a five-bedroomed home in Hove Road, sold in July 2011.
Among the current high-end mandates in Camps Bay, Moraitis says there are two stand-out properties which have recently-reduced asking prices, and now offer superb value propositions. “Both of these homes are located in Atholl Road, one of the most sought-after addresses in the very deepest part of the Glen,” he says. “They both have a north-facing aspect, very unusual for this part of the coastline, providing shelter from the prevailing summer winds as well as magnificent views. Both also occupy unusually large plots for the area. These properties are now priced at R24.995 million and R28.995 million, which represents exceptional value for money – it would be very difficult to rebuild these homes for less than the asking price, given current building costs.”
The first home, priced at R24.995 million, has a uniquely private location overlooking the nature reserve and Lion’s Head, with not a single neighbouring home visible from the property. Rather unusually for the area, the 1094sqm property has a completely level front lawn, providing an ideal space for a family to play and relax around the rim-flow swimming pool. The double-storey contemporary home was designed by acclaimed architects Stefan Antoni Ohlmesdal Truen and has luxury finishes throughout, including a hi-tech “electronic brain” which automates functions such as the sound system, heating and excellent security system. The home offers five bedrooms, including an enormous master suite with its own gas fireplace, and a guest suite offering privacy for visitors. Other features include a study, spacious media room and double staff accommodation. Garaging is provided for three vehicles.
The second home, also being marketed exclusively by PGP, is now priced at R28.995 million, and is regarded as something of a landmark property in the area. With clean lines and cool Nordic tones of grey and white, the stylish modern home has been recently renovated, and offers seven en suite bedrooms as well as a spacious two-bedroomed guest apartment. Moraitis points out that this layout could make it ideal for use as a high-end spa or boutique hotel, subject to planning approval. “Alternatively, it is the perfect home for a large family which entertains and hosts guests on a regular basis,” he says. The property occupies a double plot totalling 1734sqm, a size virtually unheard of in the Deep Glen. Its prime position offers views across the bay as well as over the Twelve Apostles and Lion’s Head. The home has a quadruple garage, granite kitchen and huge open-plan living areas with excellent flow to the garden and pool area. There is also a dedicated fitness area including a squash court and basketball court.