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Penthouse sells for R50m

Jul 27 2011 15:13 I-Net Bridge

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Johannesburg - A penthouse in the Cape Town suburb of Mouille Point has been sold for a record price of R50m, the highest price achieved for a penthouse in the area.

The property, which is considered one of the finest pieces of real estate along the Atlantic Seaboard, generated extensive interest from both local and international buyers.

"The sale of this property shows a renewed interest in platinum properties (property valued at over R5m), particularly in the Western Cape," said Craig Berman, national property director of Auction Alliance.

It features a triple layered glass staircase and is a few minutes' walk from the V&A Waterfront. It was sold to a local businessman.
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