Enigma mansion, Sa's most expensive home, now R100m cheaper

January 15, 2015

SA's 'most expensive' mansion now over R100 million cheaper


After being on the market for more than a year, at a cool R300 million, the opulent Enigma mansion in Camps Bay is being split into more "affordable" chunks, with the main residence now carrying a rather more modest price tag of R179m.

The Enigma mansion in Camps Bay.


Brendan Miller, chief executive of Lew Geffen Sotheby’s International Realty on the Atlantic Seaboard, said: "The property is priced realistically for current market conditions. Considering the erf size is more than 3 000m2, the price comes in at less than R100 000 per square metre, and there is no way you could build that house now - with finishes of that standard - for anything close to the price."

Two offers were made on the mansion in January last year, including one from a foreign buyer.


If the 7 000m2 property had sold in its entirety for the asking price it would have been the highest price paid for a house in the country.


According to its own website, Enigma is "Cape Town’s palatial mansion, Africa’s most expensive residence" and a "home to the stars away from home". It purports to be in a "class of its own where pure perfection exceeded any expectation".


The mansion is spread over four erven in the sought-after location of The Glen and includes three residences, an Olympic-size swimming pool and 3D cinema as well as antiques and an art collection. There are also 10 terraces and a natural pond.

Miller said the sale price of R179mwas for the main house which comes with four luxury suites, the home theatre and garage space for six cars.


He said the surrounding properties on the remaining 4 000m2 included a studio and guest house. These could also be bought separately.


The mansion is available to rent at R100 000 a night.


Despite the economic downturn, there has been some movement on sales of "trophy homes" of R50m-plus.


Ian Slot, Seeff ’s managing directorfor the Atlantic Seaboard, said this year that property statistics indicated an upswing in homes priced about the R20m mark between January and September, compared with last year.


He said there were three sales above R50m, including a villa in Fresnaye for R64.8m, in the past year.


Cape Argus


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