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Sol makes V&A killing
09/06/2008 07:25 - (SA)
Amy Johnson, Die Burger
Cape Town - Property magnate Sol Kerzner has made a killing on the SA market, selling a penthouse flat at the V&A Waterfront to a London businessman for R110m.
It's the highest price yet paid for a property in South Africa.
The transaction dethroned the super-rich Irvine Laidlaw as the owner of South Africa's most-expensive house.
Laidlaw paid about R106m for the historic estate, De Goede Hoop, in Noordhoek.
According to a statement, Kerzner confirmed from London that an agreement of sale had been reached and a deposit was paid for the penthouse.
Kerzner wanted to sell the other two penthouses for a minimum of R100m each.
Ian Slot, managing director of Seeff's Atlantic Seaboard office in Cape Town, confirmed on Sunday that it was a South African record.
"The previous record for a penthouse at the V&A Waterfront was R30m. No one has ever bought a penthouse, house or flat at this price."
Slot said there was local and international interest in the penthouses.
He said people would realise in the future that R110m was not a bad price to pay.
"The V&A marina develops daily and will keep expanding. These penthouses will remain jewels of inestimable value in its crown."
Slot did not want to publicise the buyer's identity.
Four bedrooms
Die Burger was told by a reliable source that a London businessman had bought the penthouse.
The chairperson of One&Only Cape Town, Moss Mashishi, said that under the present conditions of the property market it was a strange transaction.
"We are very excited about the transaction.
Hopefully it will lend value to the market."
The four-bedroom, duplex penthouses of 800m² were on the top floor of the One&Only Hotel, which is expected to open in October 2009.
The penthouses each have swimming pool terraces and private lifts.
The owners will have a panoramic view of Table Mountain and Robben Island as well as house-keeping and security at the door.
They will enjoy access to the spa and fitness centre, as well as à la carte dining from the hotel's Nobu restaurant.
- Die Burger
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