The view from the V&A Marina penthouse which is for sale through Cluttons at R41 million.

The South African branch of Cluttons is under new ownership, say the new owners, who have secured the rights to the company in South Africa from Cluttons LLC in London.

Cluttons traces its roots back to 1765 in the UK and over the last century has opened 20 offices there, five in the Middle East and other overseas branches in Russia, South Africa, Spain, Italy, Greece and the Caribbean. It has been operating in South Africa since 2000.

Spokesman for the new owners, Jacques Ellis, says the agency will be specialising in five areas - the V & A Waterfront, the Atlantic Seaboard, Hout Bay, Constantia/Tokai and the West Coast.

Ellis, Bruce Durham and Brian Reinker now own 100% of the company. Reinker heads the team at the Waterfront office taking care of the Atlantic Seaboard, and Durham operates the Tokai office that serves Constantia Valley. Barry Todd and Werner Nicosia head the Hout Bay and West coast offices respectively.

The agency’s most recent listing is a R41 million duplex penthouse in the V & A Marina, with large open plan living areas that open up to a spacious terrace. The three luxury en suite bedrooms with private terraces have magnificent views over the marina, and the canal and towards Table Mountain.

“Cluttons recently sold a house in Springbok Road, Green Point for R17,5 million, which is a new record for a sectional title unit in the area. Regardless of what price range properties fall into, agencies have a responsibility to value and price properties correctly and when they do, there is movement,” says Ellis.

He says there is also movement in the R1 million – R3 million range which was hardest hit by the recession, especially in the buy to let sectional title market.

“Commentators agree that investors who fared the best since the boom are those who have managed to hang onto their properties and, when possible, secured them with good rentals,” says Ellis.