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Camps bay beachfront sale to kick off 2010 property season

SA Camps Bay beachfront property which will be going on auction in January is attracting wide international interest – and according to the Auctioneers will set the stage for a 2010 property boom in the country’s most exclusive suburbs. Who can forget that last year the now-renowned Grand Cafe sold for a spectacular R44 million, an unprecedented amount for the Camps Bay strip.

Estate agents, property investors and homeowners along the Cape Atlantic Seaboard are already experiencing a large bounce-back after December’s Fifa Wold Cup draw which attracted visitors into the mother city. According to Alliance Chief Executive, Rael Levitt: “2010 is set to be one of the most historic years in the history of South Africa, and as the eyes of the world turn to us as we near the world’s greatest sporting event,  eager investors are already being attracted to our prime coastal areas”. 

The recent successful Alliance Group auction which saw several portions of the magnificent Boschendal wine estate go under the hammer is a good example of how international investors are focusing keenly on our prime real estate. 

The no-reserve sale of the Camps Bay property, on the instructions of the beneficiaries of the estate, will start 2010 off with a bang. “In the worst of times, Camps Bay beachfront’s prime real estate has attracted historic prices, but we are now experiencing unprecedented international interest in a significant piece of real estate that’s in one of the most beautiful locations on earth – Camps Bay,’’ comments Andrew Cohen. 

Camps Bay has always attracted visitors from around the world. The seaside suburb, known for its exclusivity and natural beauty, has long been the playground of the rich and famous. Lying at the foot of the Twelve Apostles mountain range, this cove is embraced by granite boulders at each end and the enclave is skirted by a palm-fringed expanse of pristine white beach. With its almost Caribbean feel and some of the most prime real estate on this planet, this is any investor’s dream. As the country gears up for the momentous year ahead, and with tourism already picking up, this piece of the Atlantic Seaboard is pure gold – but properties here are not easy to come by. 

That’s what makes Holland House a true gem: right in the heart of this world-famous strip and right on the beach, a prestigious property with the finest location imaginable has come up for auction. Holland House features a luxurious apartment upstairs and the well-known, elegant and vibey Tuscany Beach restaurant down on street level, assuring a firm rental income opportunity. Professional due diligence has already been done by a top town planner and what’s more, the property is to be sold with no reserve – the sale will be confirmed on the fall of the hammer. The property has a gross area of 691m2.

Cohen is very excited at the prospect: “This is a massive opportunity for a canny investor. The sale is without reserve which offers one lucky investor the opportunity to start 2010 with the acquisition of a piece of real estate gold. It simply does not get better than this.”