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"A luxurious, prime located, four-bedroom Clifton bungalow in perfect position on 4th Beach has been sold by Pam Golding Properties for R70 million to an upcountry buyer for use as a holiday home. Across the market, this is the second highest price for a residential property on the Atlantic Seaboard this year (2021). (The highest price for a home on the Atlantic Seaboard this year was R75 million.) The R70 million transaction concluded by Pam Golding Properties follows hot on the heels of their December 2020 sale of another Clifton bungalow for R37 million which was acquired by an Emirati buyer from Dubai. Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “In recent months on the highly sought-after and world-acclaimed Atlantic Seaboard, there has been a marked increase in demand for luxury properties above R10 million, with properties correctly priced by motivated sellers achieving close to asking price.” Comments Annette Hepburn, Pam Golding Properties area specialist on the Atlantic Seaboard who concluded the R70 million Clifton sale: “Over the past five years only a handful of Clifton bungalows have changed hands at prices ranging from the high R30 millions to R80 million, with a 417sqm plot of vacant land selling for R24.85 million. This is because these prized homes, which represent a unique and very niched property offering, are tightly held, thereby creating high demand and low supply, and fetching top end prices. “All the Clifton bungalows are subject to a strict zoning overlay which limits development, thereby enhancing the value of the properties as this regulation preserves the built environment.” Adds Hepburn: “The unique attributes of this specific bungalow, which fetched R70 million, is that it is in a north-facing position with direct road access and on-site parking, which is a rarity as the majority of all the bungalows have access restrictions and no road access or on-site parking. These particular attributes make this an exceptional sale which really occurs only once every decade, so it is a noteworthy sale and an exceptional acquisition for the purchaser.” Overlooking Clifton’s famous Blue Flag rated 4th Beach, with spectacular views of the Atlantic Ocean and direct beach access, the bungalow comprises four generously proportioned bedrooms – main en suite, with two additional bathrooms and a guest cloakroom. With secure on-site parking for four cars, the home includes expansive entertainment patios with a large swimming pool and sweeping scenic views, a staff suite with private bathroom and separate entrance, and separate laundry with a walk-in pantry."
<https://mail.eprop.co.za/commercial-property-news/item/22271-rare-sale-of-a-clifton-bungalow-for-r70-million-by-pam-golding-properties>