A highly sought after plot in Clifton is up for auction and developers are lining up to get their hands on it. There are plans to turn the plot into the only luxury hotel in the Atlantic Seaboard suburb, or the first hostelry in over 40 years.
High Street Auctions, who are in charge of the sale, explain that developers have already drawn up plans to turn the 543 square metre plot, located on the mountainside of Victoria Road opposite first Beach, into an 18-suite, seven floor boutique hotel. This project has been years in the making.
“A major design feature of the hotel plan is a fully-automated parking garage for 21 vehicles, with seamless hydraulics performing an intricate ballet behind glass walls to shift luxury vehicles in and out as needed, director Rodney Beck told Business Tech.
“A further 235 m² have been incorporated into the plan for entertainment, dining and reception spaces, as well as back-of-house facilities. There’s also a retail element on the ground floor ideal for a coffee shop or private concierge lobby.”
The new developer may also purchase a smaller, privately-owned, vacant plot on the Apostle stairs.
“This lot has always been privately owned. It is currently zoned Single Residential 1, but the possibilities are endless for a developer looking to extend a hotel’s leisure facilities over an additional 455m². The chances of these two tandem lots ever coming to market at the same time again are slim to none.”
The location of this plot is pure prime property. The stretch of land from Victoria Road through Bantry Bay and Clifton is listed as the country’s most expensive street. Properties on this street fetch R80 000 per square metre. Clifton is also the country’s most expensive suburb, according to the 2020 South African Wealth Report by New World Wealth.