Seef in biggest sale ever in SA

Seeff has achieved what appears to be another record for South Africa - possibly the highest priced residential property sale to one purchaser - selling all 30 apartments in Lawhill, the last development in the V&A Marina, for approximately R245 million. Two years ago this same branch of Seeff sold Penthouse Three at the One&Only Cape Town for in excess of R111 million, still the record price paid for a single residential property in the history of South Africa. Said Ian Slot, Managing Director of Seeff Atlantic Seaboard, V&A Waterfront, CBD & City Bowl: "Where else would both the highest price ever paid and the highest price ever paid by one person occur in South Africa, other than in the V&A Waterfront - the jewel in the crown of Cape Town?"

Seeff is also managing the letting of the 30 apartments in Lawhill as holiday or corporate short lets. Charles Bloem, Manager of Seeff Corporate and Holiday Letting Division, describes the Lawhill building: "There are 30 luxury apartments consisting of 5 one-bedroom, 17 two-bedroom and 7 three-bedroom apartments and 2 penthouses. All of the apartments are stylishly furnished by interior designer Marius van der Merwe from M Interiors, and fully fitted and equipped with anything a guest might require. There is also excellent security and secure basement parking. Some units have their own pools, while others have access to communal pools. There is internet access and DSTV in all apartments, and they have beautiful views of the Marina, the Canal and the adjacent One&Only Cape Town. These apartments, managed by the Seeff V&A Waterfront Branch, are being rented out on a short-term basis as self-catering units."

"The Lawhill apartment block is currently running at 100% occupancy", says Bloem. "The demand over the World Cup period for Lawhill has been phenomenal, and Seeff has had to source additional apartments throughout the V&A Marina to keep up with demand." The public can book online at www.lawhillapartments.com or may contact Seeff at their new V&A Waterfront outlet situated in the historic stone cottage at the entrance to the V&A Waterfront residential marina, alongside the Cape Grace Hotel.

Ian Slot says that he is seeing a paradigm shift in investment in South Africa, which has become especially apparent around the FIFA World Cup. "Traditionally, when we looked to our foreign markets we looked to Europe, but in the last few weeks around the World Cup, the people who have impressed me in terms of their commitment and belief in South Africa are our neighbours in Africa. There is tremendous wealth in Africa, and they want to invest here. Over the next five years I believe there is going to be an African Renaissance in terms of investment in South Africa. The sale of Lawhill is a case in point - while we cannot reveal any specific details owing to client confidentiality, we can say that Lawhill speaks to many of the considerations mentioned above."

David Green, CEO of the V&A Waterfront said he was delighted with the successful conclusion of the sale of the Lawhill building, which essentially completes the Marina development project begun some ten years ago. "This sale is further proof of the popularity of the residential development within the V&A Waterfront and shows the sustained, robust growth in property values here, despite the recent economic downturn."

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