Sandton's $3.6mln penthouse - CNBC Africa

Sandton's $3.6mln penthouse

Southern Africa

by CNBC Africa 0

Photos: Pam Golding

Michaelangelo Towers R50 Million Pic 2

If you want to buy this penthouse in Africa’s richest square mile it will set you back $3.6 million or R48.9 million. The penthouse is situated at Michelangelo Towers in Sandown.

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The property is being marketed by realtor Pam Golding Properties.

Rupert Finnemore, Pam Golding Properties Hyde Park joint area manager, says the highest price an apartment has fetched in the Sandton city centre is R43 million, which was achieved for a penthouse in 2014. According to a release from the agent “most of the new residential apartment developments in and around central Sandton are now selling for approximately R35 000 per square metre and up to R60 000. At R85 500 per square metre, the penthouse at Michelangelo Towers is therefore one of the most expensive homes to ever go on sale in the area.

“The price tag for this spacious three-bedroom penthouse is not surprising,” he comments. “Well situated Sandton homes in the upper end of the property market continue to show good capital appreciation. If one considers that prices in the upper end of the residential property market on the Cape Atlantic Seaboard can range to over R100 000 per square metre, then we can see that this this Sandton ‘sky home’, which has every convenience to hand and is situated within the very heart of South Africa’s richest square mile, is not unreasonably priced.”

“The sectional-title penthouse, with its en-suite bathrooms, self-contained guest suite and three reception rooms, is approximately 618sqm in size and is packed with a number of outstanding features. These include a fitted bar, family room with advanced sound system, 3.5 bathrooms, staff accommodation and lock-up garage with space for approximately six vehicles.

“The chef’s kitchen is spacious with state-of-the-art fittings and granite tops, while the dining and sitting rooms can be opened up to take advantage of the beautiful views that are on offer. Air-conditioning is provided throughout the apartment and the bedrooms are equipped with under-floor heating to ensure residents remain comfortable through the colder winter months.”

“The building itself is immaculate and offers residents the use of a gym, heated indoor pool and an outdoor pool, sauna/steam room and 24-hour concierge services. As may be imagined, the security of residents is of paramount importance and the latest systems are employed to ensure their safety.”