Camps Bay estate agents' R240m success story.

Posted On Monday, 12 May 2003 02:00 Published by eProp Commercial Property News
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Since its establishment just six months ago, Dogon/Gavrill Properties has notched up R240 million in property sales.

Infrastructure IndustrySince its establishment just six months ago, Dogon/Gavrill Properties has notched up R240 million in property sales.

This success is all the more remarkable as co-owners Denise Dogon and Gail Gavrill ran the business from home for three months before opening their hi-tech Camps Bay Property Cafe in February.

The projects they have marketed include two of the biggest developments launched on the Atlantic Seaboard in 2003: Prestwich Place in Green Point, which represents off-plan sales of R22 million, and Dunmore in Clifton, with a sales value of over R80m.

Both apartment blocks are virtually sold out, with only two penthouses still available at Dunmore. Sales at Prestwich Place, a loft apartment development in the trendy Cape Quarter, averaged R1.3m per unit. Sixty-five percent was sold to foreign buyers off-plan, says Dogon.

The 18 units sold at Dunmore - being developed by an Irish developer on a mountainside site with spectacular views - were sold at between R3.4m and R4m per unit, while the penthouses averaged R7.95m each.

Sixty percent of the development has been sold to local buyers, while overseas investors have snapped up the remainder, says Gavrill. Dogon/Gavrill Properties has also set a record of R16.5m for the off-plan sale of an apartment at Eventide, a sectional title development on the water's edge at Clifton.

This was sold to a local buyer, says Gavrill, who adds that 40% of the luxury apartments in the project have been sold to South Africans living abroad.

Recent sales include five units at the Water Club, averaging R4m per unit, which were all sold within six weeks.

The company's total sales figure of nearly a quarter of a billion rand includes individual property sales of R105m, averaging four sales per month of R4.18m each.

Dogon and Gavrill completed 90% of the sales themselves. Three of their newly appointed agents, trained by them, secured the remainder of the business.

The partners, both self-confessed workaholics, attribute their success to a combination of experience and the vision to move the industry forward into a sophisticated, new hi-tech dimension.



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