The home, which includes a downstairs flatlet, is set against mountain views and overlooks the City Bowl.
Higgovale has become an investment hotspot in Cape Town, with a high demand for properties that offers opportunities for the development of luxury homes and higher-density residential establishments.
Mike Baigel of ClareMart says he has on offer an exceptional property that provides a rare development opportunity in this prime location. The home, which includes a downstairs flatlet, is set against mountain views and overlooks the City Bowl, he says.
The property offers double and single garages and additional off-street parking. Baigel says the property is situated on an erf totalling 903m² and has a General Residential 2 zoning.
“This allows for residential developments of multi-dwellings and duplex apartments. The excellent location and substantial size of the property is boosted by multiple entrances with access from two roads, adding to the development potential of the property.”
The demand for luxury homes and apartments in Higgovale has attracted local and foreign buyers and families relocating from other provinces, he says. “The rising demand has caused prices for apartments in this area to increase by 50% over the last five years and it is our view that property values will continue to rise in line with the growing demand.”
The property will be auctioned at ClareMart’s Multiple Platinum Auction at The One & Only Hotel, Dock Road, V&A Waterfront, at 1.15pm on May 30. For more details, call Mike Baigel on 0829269479 or 0214258822, email mike@ claremart.co.za or see www. claremart.co.za.