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Anton du Plessis, founder and chief executive of the seven year old Cape Town Southern Suburbs estate agency, Vineyard Estates, which traditionally targeted Newlands as its main focus of activity, reports that he has been mandated to sell a “once in a lifetime” residential opportunity in this popular suburb.

“I realise that that description of a home has been worked almost to death by estate agents for a long time – but I cannot think of a more appropriate way to describe this particular property,” says du Plessis.

The home, which is priced at R6,8 million, is situated in the lower and most sought after section of Fernwood and has a river running along its north eastern boundary.  Most of the large 1 900m² plot is completely level, with a swimming pool on a lower level next to the river.  Many of the rooms, as well as several spots in the garden, have panoramic views of Table Mountain’s Kirstenbosch range and Devil’s Peak.

The exceptionally large plot has made it possible to have and 80m² two bedroom, self-sufficient cottage in the garden.  This has its own kitchen, bathroom and living room.  The plot itself has garaging for four cars and parking for a further six.

The design of the home, says du Plessis, is more modern than that of most Newlands houses.  The buildings are well positioned in an L-shape in the south eastern side of the plot.  The main house has seven bedrooms and six bathrooms as well as an attractive work-from-home study.  The master bedroom leads onto a 50m² patio that looks directly onto the mountain.  Features and fittings within the home, says du Plessis, are of a very high standard:  the dining room is tiled in handmade quarry tiles, many rooms have extensive down lighting and use of high windows and large glass skylights allow for good light in the south western bedrooms.  Wood framed full length sliding doors facilitate easy indoor-outdoor living.  The kitchen has a comfortable eat-in facility and links into a large sunroom.

Newlands, says du Plessis, has never been a high crime area (“that is one of its big attractions”), and this home has exceptionally efficient security provisions which are enhanced by the neighbouring properties being a well-guarded embassy and a foreign consulate.

Newlands, says du Plessis, is still one of Cape Town’s two or three most sought after suburbs.  This year, although most commentators regard the property market as only just embarking on its recovery, Vineyard Estates has, he says, sold over R25 million worth of homes in Newlands (the last, for R7,55 million, was sold last week) and these sales have been on average at 94% of the asking price.

Sales, adds du Plessis, have been taking place in almost half the time (in under eight weeks in 85% of cases) that they took last year and the gap between the asking and achieved prices has also narrowed considerably.

“My own sales in this area,” says du Plessis, “are significantly higher than those in the corresponding period in 2009 and other agents are reporting similar improvements.  The top price achieved in Newlands was R8,5 million in Ohlssons Way and the lowest price for a very small unit was R1,8million in Newlands Village.  (A vacant stand in Newlands Hiddingh changed hands at R2,231m – setting the land value at R3 500 per square metre.)

By the end of 2010, du Plessis predicts that prices will be 10% up on those of late 2009.  Already, he says, he has witnessed a significant increase since about October last year.

“There are many willing and well resourced buyers trying to get a foothold in Newlands,” says du Plessis.  “What is more, roughly half of them are able to put in cash offers while, to my surprise, at least two of the buyers with whom I have dealt with recently qualified for 100% bonds – a sure indication that conditions in the marketplace are changing.”

One Comment

Karin Rueckert

January 13th, 2011