A R20 million discount

A property situated in the sought after Bishopscourt, Cape Town which has been on the market for more than a year was originally listed at a selling price of R100 million, but it has been announced that seller has reduced the price by a whopping R20 million.

The reason for the massive price cut is simple - the European owner is in a hurry to retire.

Residential property company, Seeff, had said that the property is “arguably the best” in the city’s southern suburbs and one of the “finest classic mansion-style homes” in South Africa.  The owner is now looking at offers in the region of R80 million.

"The home was first listed just over a year ago. Understandably, top-end properties usually take a long time to sell, and, while the home was correctly valued at the original price of just under R100-million, the owner is in a bit of a hurry and has thus dropped the asking price," said Seeff southern suburbs managing director Andy Todd.

He built the home in 2008. It includes:

Landscaped gardens and cascading water features leading to rock pools and a high-level lawned area;
A separate residence for the estate manager and accommodation for a butler;
Several lounges, dining rooms, a bar room, billiard room, cinema room, gym, cigar lounge, library and braai facilities and a pizza oven; and
A 10-car garage with a "separate wash bay".
Todd said there are just "too many" rooms on the estate - with the main suite including a private lounge, and his and hers dressing rooms and bathrooms.
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