Latest news with #LanceRealEstate
Time Out
01-08-2025
- Business
- Time Out
Clifton's iconic ‘Pentagon' villa just sold for a record-breaking R157.5 million
In a sale that has sent jaws dropping across the continent, The Pentagon - a striking five-bedroom villa perched high on Nettleton Road in Clifton, Cape Town - has just changed hands for a whopping R157,550,000. The buyer? A South African, proving once again that the appetite for ultra-luxury property on local soil is alive and well. The property, long admired and often envied, has lingered on the market for several years, previously listed at R160 million. But this week, Cape Town's premium property circles were abuzz when Lance Cohen of Lance Real Estate finally sealed the deal. It's the highest residential sale recorded in South Africa so far this year - a fitting headline for a home as spectacular as this one. Nicknamed The Pentagon, this five-level masterpiece is the epitome of architectural drama and ocean-facing opulence. Designed by none other than Stefan Antoni, one of South Africa's most recognisable award-winning architectural names, the home boasts panoramic views from every floor, thanks to its bold tiered design. Let's talk features. A 16-metre heated infinity pool spills out toward the Atlantic Ocean, creating the illusion of floating in midair. There's also a private cinema room, glass elevator, state-of-the-art gym, home office, and steam room - not to mention staff quarters, a powerful 80kVA generator, and a bespoke Italian kitchen by Assirelli. Quick-fire facts about this record-setting villa: Size: 940m2 Bedrooms: 5 (all en-suite) Bathrooms: 6.5 Parking: 8 bays (including four garages) View: Every single floor offers front-row seats to Clifton's world-famous coastline. Even for the famously extravagant Nettleton Road - often dubbed the 'billionaire's row' of Cape Town - this sale is something special. It sets a new benchmark not just for the Atlantic Seaboard, but for ultra-high-net-worth property deals across Africa. This suburb is renowned for its expensive sea-facing real estate, beach bungalows, and high property values. As the rest of us stare at our screens in awe, one thing's for sure: Clifton just got a little more exclusive.
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The South African
31-07-2025
- Business
- The South African
2025's most expensive home snapped up by a SOUTH AFRICAN [pics]
Nettleton Road in Clifton, Cape Town, is widely regarded as the crown jewel of South African real estate. Often referred to as 'South Africa's most expensive street,' this enviable postcode boasts a collection of ultra-luxurious homes. Now, one of these prized properties has just changed hands – sold to a local buyer in what marks South Africa's most expensive property sale of 2025 so far. Image: Supplied/ Lance Real Estate Described as an 'architectural marvel,' the five-bedroom contemporary home was designed by world-renowned Stefan Antoni. The South African spoke to Lance Cohen from Lance Real Estate, who managed the sale at 5 Nettleton Road. Cohen wasn't able to reveal the identity of the buyer, but did confirm that the new owner is a local. 'All I can tell you is that the buyer is a South African,' Cohen said. 'It's nice to know that South Africans are buying high-end properties – this also signals great confidence in the Western Cape property market.' With an asking price of R160 million, 5 Nettleton Rd was eventually sold for R157 500 000. Image: Supplied/ Lance Real Estate The property boasts lavish interiors throughout, along with a double volume entertainment area that flows seamlessly into a landscaped mountain garden and onto a spacious terrace with a rim-flow pool overlooking Clifton. Image: Supplied/ Lance Real Estate Inside, five expansive en-suite bedrooms are complemented by two self-contained staff quarters, a private cinema, a fully equipped gym, and elevator access to every floor – along with a host of other luxury amenities. Image: Supplied/ Lance Real Estate According to Cohen, in the high-end real estate residential market there are in fact more buyers at R100 million plus than there are actual properties for sale. 'In May we sold an apartment in Clifton with an asking price of R145 million,' he added. 'This is highest documented price for the sale of an apartment in South Africa.' 'A lot of wealthy expats are returning home and Cape Town is the place they want to be.' Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
30-07-2025
- Business
- IOL News
LOOK: Inside the R157 million record-breaking sale on Cape Town's elite Nettleton Road
The design of the home allows for the abundance of natural light which is amplified by way of the double-volume entertainment area. Image: Supplied / Lance Real Estate Nettleton Road in Clifton in Cape Town is regarded as the country's most exclusive street, and now a luxury house there has just been sold for a whopping R157 500. Number 5 Nettleton Road is an architectural masterpiece boasting breathtaking views of the Atlantic Ocean and the iconic Twelve Apostles. This luxurious property features its own cinema, gym, and elevator, along with five en-suite bedrooms, each offering sweeping views and a private balcony. There are parking bays for five cars as well as two self-contained staff quarters. The home is also temperature-controlled throughout - ideal for those balmy days or when the south-easter howls across the peninsula. A vast deck with a rim flow pool add to the splendour of the designer home. Image: Supplied / Lance Real Estate "In a nutshell, it is the most expensive house sold this year in South Africa, but I cannot divulge the South African buyer's name," said Lance Cohen, owner of Lance Real Estate. Known as the Pentagon, this home was designed by world-renowned architect Stefan Antoni, who lives next door, Cohen shared. 'It has been on the market for a while with an asking price of R160 million, and was quite a process, with two prospective buyers," he said. Each of the five bedrooms are en-suite and have uninterrupted views of the ocean. Image: Supplied / Lance Real Estate "Boasting lavish interiors throughout the home along with a double volume entertainment area that merges effortlessly with the mountain and garden, which leads onto a large terrace with a rim flow pool overlooking Clifton," he said. Nestled between the forested foothills of Lion's Head and Clifton Beach below, the home also offers a tranquil back garden. Cohen added that Nettleton Road has seen a few significant recent sales, with three vacant plots fetching a total of R170 million. Cohen believes that interest in this area, along with the broader Atlantic Seaboard, is likely to remain buoyant, with inquiries from both foreign and local buyers. "Cape Town is much in favour with the world right now across various publications, but when you look at London and Paris, Barcelona and parts of Europe, they're looking a lot more unsafe," he said. "A few weeks ago, the most expensive apartment was sold (on the Atlantic Seaboard), and basically it is saying that the market is reaching new highs, demand has never been higher in Cape Town, rentals are off the charts, everyone wants to come here," he said. Cohen said the shortage of residential property stock will inevitably keep prices elevated, as more people decide to invest in the city or relocate there.
eNCA
24-07-2025
- Business
- eNCA
Gupta Saxonwold compound goes on auction
JOHANNESBURG - The once-glamorous Gupta compound in Saxonwold, Johannesburg, went under the hammer on Thursday but sold at significantly lower prices than expected. One of the houses, known as Property 3, which once served as staff quarters, sold for just R3.3-million, which is a decrease from its original amount of R5-million. Property 5, known as the 'White House', where the Gupta family lived, received a paltry bid of just R4-million. The house was previously valued at R21.7-million. Meanwhile, a prospective buyer bid just R3 million for Property 7 valued at R36.8-million. Clive Lazarus, a Director at Park Village Auctions, who facilitated the sale, says they weren't surprised by the low offers. He believes this is due to the infamy of its owners. "There was no surprise when it came to numbers 5 and 7. There has been interest, but there is a big stigma, and the property has been neglected since 2018. And no maintenance has been done since then". The Gupta brothers, Rajesh, Atul and Ajay who once called the compound home, were identified as central figures in South Africa's state capture. They remain fugitives after fleeing the country in 2016. Real estate experts believe the winning bidders scored a good deal. CEO of Lance Real Estate, Lance Cohen, says R3.3-million for a house in Saxonwold is a bargain in today's property market.
IOL News
11-07-2025
- Business
- IOL News
LOOK: Inside the properties of the ultra-rich on Cape Town's Atlantic Seaboard
Fit for a king. Sweeping views, luxury living and the sound of waves make the Atlantic Seaboard a popular choice for international and local investors. Image: Courtesy of Lew Geffen Sotheby's International Realty Smooth operating property agents are selling sunsets - staggeringly stylish apartments and beach bungalows with prime views of Cape Town's Atlantic ocean - at record high prices. Wherever you go along the city's Atlantic Seaboard, you will see construction cranes - concrete evidence that developments are taking place in the sought after precinct. A noticeable jump in upper-end property sales in the city has seen foreign and local investors secure properties that can only appreciate as Cape Town clinches accolade after accolade, whether from a lifestyle perspective or that of tourists who have helped carve a niche for the mother city. Whichever way you look at it, Cape Town's Atlantic Seaboard is on the up, with luxury properties - from apartments through to beach bungalows - fetching prices beyond most people's dreams. Warrick Wiegand of Law Real Estate recently sold a bungalow at Glen Beach for R79 million - believed to be among the highest amounts paid for a beach house in the areas of Clifton, Camps Bay and Bakoven. The Gqeberha buyer will not be left wanting for much. The property took 10 years to design and curate, creating a breathtaking space with expansive views of the ocean, the Twelve Apostles, and easy access onto the white sandy shore. "It is a one of a kind masterpiece, and is the only three-level bungalow on Glen Beach and possibly one of the best positions in the world," Wiegand said, when asked about the hefty price tag.. He said that according to PIRI, a global residential index, Cape Town showed 5.1 percent growth over the first two quarters of 2025, with the global average across 45 luxury cities being 2.8 percent. "This is a remarkable feat, considering the fierce competition among the world's luxury markets. "This can, in my opinion, be attested to a degree to global buyers discovering Cape Town, many for the first time, for what it truly is, a city of lifestyle, great value, beauty of nature and most importantly potential for growth!" Last month, the Atlantic Seaboard secured full title sales amounting to R318 million, with the average home price fetching R31.8 million, up from R91 million, with an average price of R15.3 million for the same period last year. Sectional title sales raked in almost R472 million, with apartments averaging prices of R8.74 million. Wiegand also noted how close properties are selling to asking prices, with sectional title sales receiving 95.75 percent of asking price, on average. Lance Cohen, owner of Lance Real Estate, who sold an apartment at Clifton with an asking price of R145 million, believes the buoyed market is linked to global instability, and the fact that many South Africans are returning home after many years of living abroad. That's a lot of money, so does the place boast a cinema, wine cellar or "secret" room? Cohen laughs at this, admitting it has neither, but said it has top-end finishes, including marble, and that the apartment has its own elevator that takes you a stone's throw away from the shore. "It's all about location, really." "We are not getting the bad press as an unsafe city any longer, so good press and more flights coming in means more visitors. People get to see the infrastructure, that the city is well managed and is cheaper than say Dubai and other places. "We also have upcountry buyers, but when people come here from overseas for the first time, they fall in love with the city and want to settle," Cohen said. "A lot of buyers have homes in various places, so those from the northern hemisphere find it an attractive option to come here in winter, while the Emiratis like coming here in winter to dodge their extreme heat of summer." On the rental side of things, Cohen believes a shortage in rental stock has also pushed up selling prices, resulting in buyers investing so that they can rent out their properties. "We have a situation where there is huge demand and little supply which pushes up prices, but in my opinion, the market has never been better and stronger. "The great demand has led to spill-over to places like Constantia and Bishopscourt because of the shortage of stock on the Atlantic Seaboard," he said. Asked what made the Atlantic Seaboard so attractive, Cohen said: "Safety and security, the best climate in the country and accessibility to Blue Flag beaches and of course the views." Commanding views and a price tag that could take your breath away, this property is on the market for R110 million. Image: Courtesy of Lew Geffen Sotheby's International Realty Chad Shapiro, senior operations and systems manager at Lew Geffen Sotheby's International Realty Atlantic Seaboard, said that although they do have upcountry buyers, the bulk are foreigners. "We do have some properties that you could say are very expensive, and we get retorts of 'how can you charge so much', but the Atlantic Seaboard warrants its pricing, which is more comparable to the global market," he said. Asked what was so special about these properties that they fetch such high prices, Shapiro said the primary purchase reward is location. "The Cape Town Ciry centre and Atlantic Seaboard both offer superior position as well as weather, the south Easter misses many of our suburbs when it is in full flight and this has borne a strong desire for holiday making near all the premium beaches and in turn long term residency, property ownership and business locality which is also considered to be highly exclusive. "Views and proximity to amazing food, entertainment, sightseeing and recreational activities also bring property pricing to a premium; you are buying a location as well as a lifestyle." With the property market in this precinct looking so promising, agents say the trend is likely to sustain its momentum.
