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AN overseas investor snapped-up a luxury Paarl mansion overlooking the Paarl Valley at a public auction last Friday for a price of
R11,6 million, the highest price ever paid for a single residential property in Paarl.
The palatial residence of Paarl businessman Nicky Camara, set on an erf of just under 3000 square metres, was auctioned off by the
ClareMart Auction Group as part of a liquidation instruction for R9,4 million (gross price R11,6 million).
Bidding started at R4 million and the final price is considered competitive for the area.
Said ClareMart CEO, Jonathan Smiedt, "There was widespread interest from local and up-country buyers with more than 200 people
attending the auction.
"Although the conclusion of the sale is subject to acceptance by the liquidators, we are confident that the purchaser of the
property has secured an excellent investment for this sought-after property," said Smiedt.
The purchaser is a UK resident, John Downes of Cheshire.
Lawyer Anville van Wyk acted on behalf of the Briton
Downes, a well-known businessman from the North of England, has interests in finance and commercial radio.
Sayds Downs, "I have bought the property because I like Paarl very much, and think the house is outstanding.
"Since I have recently sold one of my major businesses, I have much more time on my hands and feel that I would like to
spend some of it in the area."
The split level mansion boasts imported marble finishes, five bedrooms with balconies, a pool with underwater portals, two bars, a
gym, sauna and jacuzzi, air conditioning and underfloor heating.
Other features are security and a surround sound system.
The purchaser has first option on the luxurious furnishing of the house.
A second Camara property, a vacant site in Lady Grey Street near Berg River Boulevard, was sold for R1,2 million (gross).
A third Camara property, the former OK Bazaar building (now Mr Price), was knocked down on auction in October for R8,35 million (nett)
to a consortium of local businessmen.
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