CT seller offers R20m discount

15 May 2013 - 03:22 By NASHIRA DAVIDS
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This Bishopscourt house, which has been on the market for more than a year for R100-million, has a 10-car garage
This Bishopscourt house, which has been on the market for more than a year for R100-million, has a 10-car garage

It is the deal of the decade - a whopping R20-million off a luxury Bishopscourt estate in Cape Town.

The European owner made the shock-inducing decision to cut the selling price of his home because he is in a hurry to retire.

Billed by residential property company Seeff as "arguably the best" property in the city's southern suburbs and one of the "finest classic mansion-style homes" in South Africa, the owner is now looking for offers in the region of R80-million.

But even if Joe Public is to win the lotto, it will not be enough to bag the pad in a neighbourhood which was once the home of former president Nelson Mandela and artist Vladimir Tretchikoff. The water bill could also be steep.

Bishopscourt, according to the City of Cape Town, is one of the highest water-consumption suburbs.

"The home was first listed just over a year ago. Understandably, top-end properties usually take a long time to sell, and, while the home was correctly valued at the original price of just under R100-million, the owner is in a bit of a hurry and has thus dropped the asking price," said Seeff southern suburbs managing director Andy Todd.

He said the owner has been living in South Africa for "many years" and wants to return to Europe to retire.

He built the home in 2008. It includes:

  • Landscaped gardens and cascading water features leading to rock pools and a high-level lawned area;
  • A separate residence for the estate manager and accommodation for a butler;
  • Several lounges, dining rooms, a bar room, billiard room, cinema room, gym, cigar lounge, library and braai facilities and a pizza oven; and
  • A 10-car garage with a "separate wash bay".

Todd said there are just "too many" rooms on the estate - with the main suite including a private lounge, and his and hers dressing rooms and bathrooms.

Perhaps some of the continent's richest people - who popped in at the World Economic Forum on Africa which was held in Cape Town last week - might have gone shopping for homes.

According to a Forbes article, some of the super-wealthy who attended last week's event included Aliko Dangote from Nigeria.

"Dangote has a net worth of $19.2-billion based on May 8 stock prices," the article noted.

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