Bantry Bay Trophy Homes Appeal To Ultra High Net Worth Investors
In the world of real estate, not all properties are created equal. While the broader market is subject to significant fluctuations shaped by macro-economic drivers, the high-end segment tends to buck this trend.
The market for trophy homes – from purchasing methods to trend imperatives – is different for a variety of reasons, explains High Street Auctions Director Greg Dart, including that Ultra High Net Worth (UHNW) buyers are more resilient to cost-of-living-related pressure, the nature of global wealth, investment perspectives and potential returns.
Global Wealth in Real Estate Investment
Dart says research shows that the amount of international wealth invested in real estate is almost four times the size of global GDP.
A Savills report last year noted that: “The total value of the world’s property stood at $379.7 trillion at the end of 2022. Although this is 2.8% less than the year before, the longer-term trend – a rise of 18.7% over the past three years – shows that global property remains a significant store of wealth.”
Dart says the Savills data also indicates that real estate is worth more than the global equity and bond markets combined. And a tangible example is that the value of all the gold ever mined – amounting to $12.2 trillion – equates to just over 3% of the worth of global real estate investment.
“About three-quarters of that value is invested in in residential property, what was $287.6 trillion at the end of 2022. Commercial property accounts for around 13%, while agricultural land represents 11%.
“The high-end segment is a particular drawcard for UHNW investors due to its potential for capital appreciation, rental income and as a hedge against inflation.”
South Africa’s Hottest Property
Dart says New World Wealth’s (NWW) recently published Africa Wealth Report 2024 with Henley & Partners makes no bones about the fact that Cape Town is still the hottest property investment region for UHNW investment buyers.
“The stats don’t lie. Cape Town features the country’s most opulent residential areas in the Prime 7 – Clifton, Bantry Bay, Camps Bay, Bishopscourt, Constantia, Llandudno, and St James – and it’s no surprise that four suburbs on the list are on the Atlantic Seaboard, long touted as the international playground of A-listers and aristocrats.
“It is in Bantry Bay that High Street will be auctioning a trophy home investment opportunity this month in the form of an expansive, ultra-luxurious five-storey residence that could not be better-positioned located as it is in on Kloof Road, which offers 180-degree, unobstructed ocean views.
“The home, an entertainer’s dream, offers five en-suite bedrooms, lavish public entertainment areas, a swimming pool with sweeping views over the Atlantic Ocean and an elevator that conveniently connects the spaces in this approximately 900m² home.”
Dart says Cape Town continues to benefit from ongoing semigration of wealthy South Africans, and the city is an incredibly popular retirement destination for migration millionaires from Europe and the rest of Africa.
“Crucially, the Mother City is on track to overtake Johannesburg to become Africa’s wealthiest city by 2030.”
Trophy Homes: The Pinnacle of Luxury Real Estate
Dart says trophy homes like 196 Kloof Road in Bantry Bay, represent the crème de la crème of the luxury real estate market.
“These properties are characterised by unique attributes such as prime locations, architectural significance and exceptional amenities. They command top dollar, top rental income and are considered status symbols.
“You pay for location and for views.
“To be a true trophy home, a property has to be exceptional. Their locations are highly coveted and not only desirable for their beauty and amenities but also for the privacy and prestige they offer.
“The scarcity of available land in these prime locations ensures that trophy homes retain their value, even in fluctuating markets.”
Kloof Road, Bantry Bay
High Street Auctions Associate Director Shawn van Jaarsveld says the sublime trophy home on auction this month occupies the most desirable address in Bantry Bay; Kloof Road, where houses have sold for more than R117 million.
“The property can be accessed either through the street front entrance or via the automated double garage, which leads to the entry level.
“This level includes the elevator lobby for the lift that connects four of the five levels, as well as a descending stairway. An office on this floor provides stunning ocean views, a private veranda, and a guest bathroom.
“The second level down houses two en-suite bedrooms, each with private balconies facing the ocean. The master bedroom includes his-and-hers walk-in closets. Both rooms offer underfloor heating, air-conditioning, AV connections and private balconies.”
Van Jaarsveld says the third level below serves as the heart of the home, featuring a large open-plan entertainment area. This space includes the dining area, lounge and kitchen, all seamlessly opening to the outside lounge and infinity pool area through floor-to-ceiling glass stacking doors.
“This level is certainly a highlight of the property, offering breathtaking views and exceptional indoor-outdoor living.
“Descending to the fourth level, you'll find an open-plan bar and entertainment area complete with lounges, pool tables and a state-of-the-art home theatre cinema.
“This level also includes three en-suite bedrooms; two offer sea views and verandas, while the third opens to an enclosed jacuzzi and lounge with fireplace.
“The fifth and final level consists of a home gym, bathroom, laundry and additional storage space.”
View, Bid, Buy!
Van Jaarsveld says this exclusive Bantry Bay Property will be on show for two days this month – Sunday September 8th from 2pm to 4pm and again the following Sunday the 15th – also from 2pm to 4pm.
“This exceptional property, which is attracting interest from both South African and international buyers, will go under the hammer at the Bryanston Country Club in Johannesburg on September 19th – one of 17 exciting and diverse top-tier investment opportunities on the High Street Auctions block this month.
“Our multi-property offering spans five provinces and stretches from Limpopo in the north to the Cape shores in the south. Lots include high-yield mixed-use developments, A-Grade commercial buildings, prime-location industrial opportunities and an entire apartment block in the UCT residential catchment area in Cape Town.
“The sale starts at noon sharp, and will be a live auction, as well as live-streamed via the High Street app to bidders around the world.
“You can register for the auction on the app, watch the auction live and bid on the app in real time.”
Van Jaarsveld says for more information on all the properties on auction on September 19th download the High Street app or visit www.highstreetauctions.com
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