- A Cape Town parking bay is on offer for a cool R1.25 million
- It features Atlantic Ocean views, 24-hour security and private access to one of the world’s most famous beaches.
- For more stories, go to Business Insider SA.
A parking bay in Cape Town's upmarket Clifton neighbourhood is currently for sale for R1.25 million.
“For a parking to be available in a such prime location like this is incredibly rare. Many of the buildings in this area were built in the 1950s where it was common to simply park your car on the street, and now there is a shortage of them,” said Adrien Epstein, luxury property consultant at Dogon Group.
Situated on the roof of San Michele apartment building in Victoria Road, the open-air parking bay offers a splendid oceanic view, private security, and access via the building to one of Cape Town’s most popular beaches, Clifton 1st .
A guaranteed parking like this is extremely sought-after during Cape Town’s peak-season in summer when thousands flock to the beach. Clifton’s famous beaches are only accessible via long winding staircases. Street parking is limited.
The property created a bit of a stir on social media:
That's deep Cape Town. pic.twitter.com/tzFHtHMORS
— Jess Gouws (@JessGouws) August 19, 2019
But it's not even a record. In 2017, another parking bay in Clifton sold for R1.65 million.
Other bays were sold for R1 million, and R1.1 million respectively in Clifton and Bakoven.
“We’ve seen garages for more. But I think [the bay] is correctly priced for what you are getting. You must compare that some of the houses (in the neighbourhood that) sell upwards of R30 million. So for R1.2 million it comes in at a bargain,” said Epstein.
However, even houses on the Atlantic Seaboard have not been immune to the general property price slump that have hit home-owners in SA.
The latest FNB House Price Index shows that prices in the area were almost 4% lower in the second quarter of this year compared to the same period last year.
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