12 Dec 2012
According to Seeff agent, Ingrid McFarlane, it has never been a high turnover suburb but buyers are drawn to the suburb for its status and grand estates and residences. It draws embassies, high ranking government officials and captains of industry, as it offers the right address for business and residential purposes, she says.
While fewer properties are changing hands now than during the “boom” period, there is still business being done in the suburb, she says. As has been the case across the market, there has been a market correction, with asking prices having to come down to more normal levels and, where sellers are pricing in line with what buyers are prepared to pay, properties are selling.
The location against the southern slopes of Table Mountain adds to the attraction of the suburb, as well as the fact it provides access to the CBD, airport and business centres. It is on the doorstep of the Kirstenbosch Botanical Gardens with other attractions such as the Newlands rugby and cricket grounds and Cavendish Square. McFarlane says it is also home to some of the top schools in the country.
The grounds are large and properties have top class security. Gardens and large homes enable government and embassy officials and business executives to host and entertain guests and visiting delegates in privacy and grand style, she says. Although it is not a large suburb - there are only a few hundred homes - some of the city’s top achievers live or own property in the area.
Entry level property prices start just under R10 million, but most properties are priced above R15.5 million, to R36 million for an exclusive estate in Upper Sidmouth Avenue that illustrates the type of property and high profile residents the suburb attracts, says the agent. The property has been occupied by a number of prominent families of the Cape including Brett Kebble.
The estate covers 6.240 square metres and offers security and privacy, as well as views of Table Mountain. It has landscaped gardens with old world status including an old slave bell, cobbled walkways and water features. A marble fountain imported from Italy forms a focal point in the garden and there is also a glass conservatory. The custom-made wrought iron gates were imported from England.
The house has stained glass windows recovered from the original old homestead as well as pressed ceilings. There are eight bedrooms as well as three separate guest suites. The living areas include a formal lounge and dining room, family lounge and dining room, a kitchen with a refrigerated walk-in pantry and a grand library Pierre Cronje cabinetry, a wine cellar, billiard room and music room.
A separate building and outdoor entertainment area is situated next to the tennis courts and swimming pool. There is a squash court, gymnasium, sauna, steam room and Jacuzzi and the property includes three staff suites, garaging for seven vehicles with additional parking and a guard house at the front entrance.
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