Would You Pay R175 Million For This Vacant Plot In Clifton?

[imagesource:engel&volkers]

A tiny piece of undeveloped land on a steep slope in Clifton has tongues wagging after the 1,124-square-metre plot went on sale for a whopping R175 million.

At R155,694 per square metre, this tiny triangle is the most expensive piece of real estate currently on the market.

Real estate specialists Engel & Völkers listed the property on their website, and considering the desirability of Clifton property, we reckon it won’t be for sale too long before someone snaps it up. ‘Tis Clifton, after all.

The property does at least come with approved building plans by well-known Jenny Mills Architects to build a ‘multi-storey exclusive Villa’. Building costs are estimated at between R65 million and R75 million.

The listing really doesn’t have much information considering it’s just an empty piece of land, but the emphasis is predictably on location, location, location – and views!

The “uniquely shaped stand” (it’s a triangle) offers “ever-changing, mind-blowing views” and “jaw-dropping views of Table Mountain, the Twelve Apostles mountain range and the famous Clifton beaches”.

To be fair, you’re not likely to find a better view in Cape Town, and owning a piece of land on the slopes of Lion’s Head in one of the most desirable suburbs in the world will definitely give you bragging rights at the next Davos or Illuminati gathering, or wherever it is that people who own these properties hang.

[source:engel&volkers&businesstech]