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SANDTON PENTHOUSE GOES ON SALE FOR R50-MILLION

Luxury apartments within southern Africa’s financial heart remain as high in demand as ever and are fetching some remarkably high prices. One of them is a penthouse at Michelangelo Towers in Sandton Central, which has gone on sale for R48.9 million through Pam Golding Properties.

“Michelangelo Towers, which stands some 140 metres above the Sandton skyline, is an iconic Gauteng property development and has become synonymous with an exclusive luxury lifestyle. This beautifully appointed penthouse property sits atop this massive landmark, offering unparalleled views of northern Johannesburg and all the way to the Magaliesberg, and a lifestyle that equals that of any five-star hotel suite in the world.”

– Pam Golding Properties Hyde Park joint area manager, Rupert Finnemore

Finnemore says that the highest price an apartment has fetched in the Sandton city centre is R43 million, which was achieved for a penthouse in 2014. 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 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 features, including a fitted bar, family room with advanced sound system, 3.5 bathrooms, staff accommodation and lock-up garage with space for approximately six vehicles.

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“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 offers residents the use of a gym, heated indoor pool and an outdoor pool, sauna/steam room and 24-hour concierge services.”

– Pam Golding Properties Hyde Park joint area manager, Rupert Finnemore

Jonathan Davies, Pam Golding Properties Hyde Park joint area manager, points out that residential property in Johannesburg has slowed somewhat in recent months, as households have come under financial pressure.

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“It should also be kept in mind that Sandton does remain the financial and commercial powerhouse of the country, and development of the city and its surrounds continues unabated. We note that large numbers of executives, professionals and local and foreign businesspeople are looking to live within this bustling cosmopolitan metropolis, which offers a convenient and colourful urban lifestyle.”

– Pam Golding Properties Hyde Park joint area manager, Jonathan Davies

Wayne Venter, a Pam Golding Properties agent and area expert agrees, saying that this desire to live closer to, or indeed within, the Sandton city centre is being encouraged by increasing traffic volumes that are being experienced in the area. In addition to all the residential, sectional-title developments in the Sandton area, approximately 200 000 sqm of commercial office space is at various stages of completion. This is only further stimulating demand for residential accommodation in and around the Sandton city centre. Venter points out that it is unusual for a penthouse such as this to become available on Sandton’s ‘golden mile’.

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