Do you have R160 million lying around? An unprecedented opportunity to acquire an ocean front parcel of land in Hermanus has hit the market.
The listing is with Seeff Property in Hermanus, and the 14,198 sqm parcel of land is called Mollergren Park.
The property has incredible ocean views as it sits on the cliffs of Kwaaiwater which overlooks Walker Bay.
There is a catch to buying this piece of land, though.
According to Paul Kruger, licensee for Seeff Hermanus, the property is on the market for R160 million, but this is contingent upon successfully relocating the current, approximately 30 occupants and securing suitable new land for development.
The piece of land is currently owned by a private owner and there are around 26 to 30 people living on the property and therefore the sale is contingent on the relocation of these individuals.
Despite this challenge, Kruger said that the clifftop location is incredibly rare and it is exceedingly difficult to snatch up such a large ocean front residential estate in Hermanus.
“This is an exceptional property, and one of the most remarkable offerings in the history of Hermanus. The likelihood of such an opportunity arising again is slim,” he emphasised.
“What makes the property even more special is the natural servitude at the front, which preserves the ocean views, while the public cliff path remains far below, ensuring an uninterrupted and private perspective of the sea,” Kruger noted.
A development opportunity
Kruger noted that this piece of land could be a property developer’s dream and could also be a great spot for a luxury private residence.
“Zoning is in place and covers a broad spectrum from dwelling houses, townhouses, and apartments to a retirement village, or tourist accommodation including a hotel, guest house or Bed and Breakfast, or a combination,” he noted.
Coastal property boom
Small towns in the Western Cape are booming when it comes to property sales as more and more people are looking to move to smaller coastal areas.
West Coast towns and villages are no longer just for holidays and retirement.
The areas of Langebaan, Yzerfontein, St Helena Bay and Elands Bay have seen a strong shift in sales activities during the market boom of 2021/2022.
According to Lightstone data, the Langebaan property market has seen transactions of over R1.3 billion from September 2023 to September 2024.
Lightstone revealed that West Coast property markets experienced a significant boom during 2021/2022, leading to substantial growth in median prices over the past five years.
In areas like Yzerfontein and Paternoster, prices have doubled, while locations such as Langebaan, Malmesbury, and St Helena saw a marked increase. The data found that most towns experienced growth between 60% to high as 196% over the last 10 years.
Price growth over 5 and 10 years
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