Paul Kruger, licensee for Seeff Hermanus
According to Paul Kruger, licensee for Seeff Hermanus, an unprecedented opportunity to acquire an oceanfront parcel of land in Hermanus has hit the market. The 14,198 sqm parcel, Mollergren Park, is perched on the cliffs of Kwaaiwater, which overlooks Walker Bay and has spectacular ocean views. The property is on the market for R160 million, contingent upon successfully relocating approximately 30 occupants and securing suitable new land for development.
The vast size and clifftop location are incredibly rare. Kruger says it is exceedingly difficult to find such a large oceanfront residential estate. This is an exceptional property and one of the most remarkable offerings in Hermanus’s history. He adds that the likelihood of such an opportunity arising again is slim.
What makes the property even more special is the natural servitude at the front, which preserves breathtaking ocean views. The public cliff path remains far below, ensuring an uninterrupted and private perspective of the sea. The iconic property offers endless development potential. Whether envisioned as a luxurious private manor or a superlative development of high-end apartments, the property can accommodate a variety of visions.
It combines exclusivity, spectacular ocean views, and natural vistas and surroundings. It provides the perfect setting for a prestigious development, whether luxury private residences, or an exclusive residential project. Zoning is in place and covers a broad spectrum from dwelling houses, townhouses, and apartments to a retirement village, or tourist accommodation including a hotel, guest house or BnB, or a combination.
Mollergren Park is close to all of Hermanus’s world-class amenities, from whale watching to wine tasting and kayaking to mountain biking. He says the possibilities here are endless, making it a rare and enticing canvas for visionary developers.
Hermanus is a growing town that has arguably become the most sought-after coastal hotspot on the Southern Cape coastline. Its proximity to Cape Town, well under two hours’ drive, makes it a popular weekend, holiday, and retirement destination. It is highly desirable for second homes, and new developments have sold like hotcakes, especially during the recent market boom.
Over the last five years, luxury house prices in Hermanus have edged up notably. According to Lightstone data, the current average transaction price of around R3.2 million is about 45% higher than five years ago, boosted by the 2021/2 market boom.
For the 12 months ending September 2024, some 839 property transactions worth over R2.76 billion were recorded at an average transaction price of R3.2 million. The data shows that the average price for an estate house is now around R2.3m to R6.3m, and freehold is around R2.3m to R5.5m. Sectional titles average around R2.1m to R5.4m, especially in the prime areas.
Buyers and investors continue to pay a premium for certain properties, with over 90 transactions concluded over R5 million for the 12-month period ending September. These were primarily in Voëlklip, Westcliff, and the Fernkloof Golf Estate, where homes sold for up to R11.7m, R11.995m, R12.5m, and R14m. Kruger says more high-end homes are now also achieving prices over R20 million.
Kruger says the management company of Mollergren Park has the distinct and meaningful objective for this sale to fund a new development for elderly residents that will include enhanced facilities to ensure optimal care.