Cape Town - In a notable transaction within South Africa's luxury real estate market, two adjacent vacant plots in Clifton have been sold for a combined R170 million. These erven, situated on Nettleton Road, represent a significant opportunity for development in one of the country's most exclusive residential areas.

The properties, totaling 2,700 square meters, were acquired by a multinational entity. Instead of developing the land for the permitted nine apartments, the new owner intends to construct a single, expansive residence. Annette Hepburn from Pam Golding Properties, who facilitated the sale, noted the buyer's vision to create a "trophy property" that will stand out on Nettleton Road.

Hepburn emphasized the rarity and desirability of vacant sites on Nettleton Road. "This is one of a few remaining vacant sites in this highly sought-after address," she stated, highlighting the street's appeal to high-net-worth individuals seeking unparalleled lifestyle, exclusivity, and privacy. Properties in this area, once completed, can fetch prices exceeding R150 million.

Nettleton Road is known for its luxurious homes and is home to industry leaders. The sale price includes VAT, reflecting the high value placed on prime real estate in this prestigious location.