Clifton vacant plots sold for R170 million

In one of the biggest residential property deals in recent years, a buyer purchased two adjacent vacant plots on Cape Town’s prestigious Nettleton Road in Clifton for an astonishing R170 million (£7 million).

With a combined size of 2,700 square metres, the sale ranks among the highest ever recorded for undeveloped residential land in South Africa.

The sale was facilitated by luxury property specialist Annette Hepburn of Pam Golding Properties, who described the deal as a rare opportunity in one of the country’s most tightly held property markets.

“This is one of a few remaining vacant sites on this prestigious road, where sales are infrequent and vacant land is almost unheard of,” Hepburn said.

Sweeping views of the Atlantic Ocean

Nettleton Road, which overlooks Clifton’s four beaches and offers panoramic views of the Atlantic Ocean and the Twelve Apostles mountain range, holds the reputation as South Africa’s most exclusive address.

Architect-designed residences line the street, with many owned by global business leaders and ultra-high-net-worth individuals.

According to Hepburn, a multinational entity bought the plots and plans to build one ultra-luxurious home on the combined site.

Although the land has existing planning approval for nine apartments, the buyer is reportedly focused on creating a landmark “trophy home” to crown the road.

“This location offers a lifestyle that is virtually unmatched – privacy, exclusivity, dramatic natural beauty, and access to Cape Town’s best,” Hepburn noted.

“That combination continues to attract discerning global buyers.”

Market activity remains strong

The sale comes as property prices in Clifton continue to climb.

In 2025, the median residential sale price in the suburb climbed to R34 million—marking a 29% increase from last year and a 136% rise compared to ten years ago.

Market activity has stayed robust, with 18 sales recorded so far this year, exceeding pre-pandemic figures.

While the Atlantic Seaboard has long been a magnet for luxury investment, this latest transaction underscores not just demand for location but the extreme scarcity of vacant land in South Africa’s most elite enclaves.

As developers and private buyers compete for prime space, record-breaking deals like this are likely to become more frequent.