14 March 2016
By Lindsay Dentlinger
“Cape Town – Once the home of coloured families forcibly removed during apartheid, a prime property on the border between Fresnaye and Bantry Bay will be turned into “ultra luxury”, multi-million rand apartments – several of which have already been sold to international buyers for an average price of R12 million.
The land, which was given to the Tramway Road Trust for free by the City of Cape Town in 2001 will, according to developer Mike Flax from Spear Property, become the city’s highest value residential development, worth R750m.”
Read the full article from iolNews.