Property

Luxury penthouse sells for record R15.9 million

Kirsten Minnaar • 15 August 2026

A penthouse at the new The Marlow on Mill in Newlands development has sold for a record R15.9 million, as demand surges for premium sectional-title properties in Cape Town’s Southern Suburbs.

“This is a record sale of a penthouse in an apartment block in the Southern Suburbs,” said Pam Golding Properties Western Cape area manager Samantha Nel.

“The previous record for an apartment in these suburbs was R12.65 million, paid for a similar apartment in Newlands Peak when it was launched in 2020.”

The buyers of The Marlow on Mill penthouse are from the United Kingdom, and they plan to live here during their visits to South Africa.

Pam Golding Property CEO Dr Andrew Golding explained that this record price reflects the strong demand for Cape Town property.

This is particularly true for well-located, high-quality sectional title homes that combine excellent security with ample parking and desirable lifestyle amenities.

“The Marlow on Mill presents buyers with a rare opportunity to secure a home in a prime location close to leading schools, shopping destinations, and lifestyle attractions,” Golding said.

He pointed out that the development also offers convenient access to both the city and the surrounding natural spaces.

“It also represents an attractive investment opportunity, with strong prospects for capital appreciation driven by its desirability and limited supply,” he said.

Golding explained that the investment appeal is supported by the building’s anticipated robust resale demand and healthy rental returns.

Developed by Eris Property Group and designed by TwoFiveFive Architects, The Marlow on Mill has 281 units. It is the first significant new residential development in Newlands for several years.

This is notable because properties in the area have experienced capital growth well above the national average.

According to Lightstone statistics, the suburb’s average capital growth over the past 10 years was 7%, compared with 5% for Cape Town as a whole.

The Marlow on Mill’s appeal

Pam Golding Properties Western Cape area manager Shelly Keys said The Marlow’s appeal lies in its contemporary design and high-quality finishes, which offer a modern, low-maintenance lifestyle.

The central location provides easy access to shopping, dining, and commercial hubs, as well as leading schools, universities, medical facilities, and major transport routes, including the M3 and M5.

The Marlow is also close to the Sports Science Institute and Newlands sports stadiums, and apartments will have views of Table Mountain.

The building also offers a range of amenities, including a ground-floor lobby with concierge and full-time, on-site security, greened seating areas, select retailers, a restaurant and coffee shop, a gym, and laundry facilities.

The rooftop will include a pool, an entertainment deck, undercover lounging areas, and gas braais. There are also four levels of basement parking.

Sales totalling close to R350 million have been concluded so far, and Keys said the majority of buyers are investors who are purchasing with the intention of generating short- or long-term rental income.

The second-largest group consists of leisure buyers, who plan to use their units as holiday homes and generate additional income through short-term letting when they are not in residence.

Buyers to date include a mix of residents of the Western Cape and other provinces, while foreign interest has come mainly from the United States, the United Kingdom, and Germany.

Around 70% of recent buyers are middle-aged or mature, with retirees and younger adults making up the balance.

“There is strong demand here for long-term and short-term rentals, making The Marlow on Mill an attractive investment opportunity with excellent income and capital growth potential,” Nel said.

“For leisure buyers, it offers a convenient lock-up-and-go lifestyle in one of Cape Town’s most sought-after suburbs.”