An aerial view of Llandudno, with the plot for sale outlined in red.

As the world’s eyes turn towards South Africa for the start of the World Cup, Cape Town’s pristine Atlantic Seaboard is preparing to show off its best to visitors who are including the Mother City in their tour.

This stretch of coastline remains one of the most sought-after addresses on the African continent, so the opportunity to buy vacant land here is always limited.

PGP’s area manager for the Atlantic Seaboard and City Bowl, Basil Moraitis, says just seven vacant plots have changed hands in the area in the past six months – but these sales have included multi-million deals and even record prices.

“Vacant land in a prime position on the Atlantic Seaboard is rare,” he says. “Buyers often have no option but to buy existing houses and demolish them to make way for their new dwellings. So to find still-undeveloped sites is very unusual – even more so if you want to buy on the prime sea-side of the road, and have vehicular access. There are very few of these properties, mainly in Bakoven and on Clifton Ridge.”

PGP sold a huge double-portion of vacant land in Bantry Bay early this year for a record price. Moraitis sold the adjoining stands totalling over 2 800 m2, zoned as single residential, for R36.5 million to a local buyer. The previous highest price paid for vacant land in the suburb was R19 million, in March 2009, for two adjacent vacant erven in De Wet Road measuring 1 292 m2.

“This sale was a good demonstration of the price tolerance of buyers in this bracket,” he says. “They realise the scarcity of vacant land in this area, and are prepared to pay top dollar to secure the opportunity to develop their own dream homes in an ideal location.”

In Llandudno, PGP is marketing one of the last remaining plots on the sea-side of the road. The 892 m2 plot is on the immediate ocean-front has uninterrupted sea views and easy access, and could accommodate a double-storey dwelling of around 500 m2. The price is R22 million.