Two vacant erven sold for a combined R170m in Clifton
Two vacant erven in one of the country's most exclusive addresses have sold for a combined R170m in Cape Town.
The plots, a combined space of 2,700m2, are in Nettleton Road, Clifton.
While the erven have planning permission for nine apartments, the multinational entity which purchased them plans to build one 'expansive trophy property to crown Nettleton Road', said Annette Hepburn of Pam Golding Properties, who secured the sale.
'This is one of a few remaining vacant sites in this highly sought-after address, where properties rarely become available and when they do, opulent, completed residences can be acquired for upwards of R150m,' said Hepburn.
'Nettleton Road is the most exclusive of all streets in the country, with a limited number of residential properties, large luxurious, iconic homes which offer all the elements desired by high-net-worth individuals — an unparalleled lifestyle, exclusivity, privacy and rarity, and above all, the spectacular views.'
The street is home to captains of industry and luxurious designer homes. The combined sale price of the erven included VAT.
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