Prospective buyers across continents are lined up to land one of the world’s most unique and desirable properties next month when Pezula Castle goes under the hammer in the first High Street Auctions sale of the year.
But the name is deceptive – buyers will get to own not just one fairy tale property on the magical stretch of beach – they will be buying three castles that collectively offer five ultra-luxurious suites in palatial surrounds.
High Street lead auctioneer and director Joff van Reenen says the castles form part of the exclusive Pezula resort, which offers the world-class Conrad Pezula Hotel, the Pezula Spa and Gym that boasts multiple awards and the Championship Pezula Golf Course.
“The castles last changed hands more than seven years ago for in excess of R35 million,” according to Van Reenen, “and have in recent years again sporadically appeared on the market through traditional real estate brokerages. They were also marketed abroad but as was the case locally, brokers were unable to source a suitable buyer.”
Van Reenen says 99% of residential property can be disposed of rapidly through auction at a price determined by the market on the day of sale, or via traditional estate agents.
“The remaining 1% will almost exclusively only find buyers at auction, though, because this segment comprises unique, truly exceptional residences that must be paired with equally exceptional buyers. And this is where the auction model of ‘sales on steroids’ comes into its own.
“A superior specialist auction house such as High Street that has for years been marketing almost exclusively online to a massive network of domestic and global clients can frequently realise for a seller in minutes what a broker or tender process might take months or even years to achieve.”
He said unique properties are perfect for auction. “The Kyalami Race Track and the Nettleton Ridge villa in Clifton that smashed previous residential auction price by more than R30m when sold a year ago, are prime examples.”
High Street director Rodney Beck says the Pezula Castle is situated in its own manicured private garden with the sand of Noetzie beach just a few metres away.
The magnificent residence provides ultimate luxury with every conceivable comfort, including a heated rim flow pool, huge terraces with panoramic views of the ocean and a well-equipped gymnasium.
“But if it’s romance you’re after, then the Beach Castle is arguably one of the most dreamy hideaways in the world.
When and where
The first High Street sale of 2018 starts at noon at Summer Place in Hyde Park, Johannesburg, on February 21.
All bidders are required to pre-register for the sale.
For more information visit highstreetauctions.com.