05 Jun 2012
Tanya Jovanovski, Rawson Auctions franchisee for the Western Cape, says the property has three levels and a parking basement with 22 parking bays.
Jovanovski says its current market value is estimated to be between R27 and R30 million.
The building, which has balconies and panoramic views of Karbonkelberg, has until now been run as self-catering apartments (with chef services available on request) and is open year round to the public.
The property could also serve as a hotel or even more profitably, while the individual two and three bedroom units could be sold off under sectional title.
The register for this is in place and just has to be opened.
If this third option is exercised, the ground floor could be converted into retail and office space for sale to small businesses, a restaurant, a boutique clothing retailer or to professionals needing high profile premises in a much visited section of Hout Bay, she says.
Its apartments are fully equipped and offer all the comforts and conveniences of home with rooms measuring between 77 and 140 square metres.
If the 20 apartments are later sold individually by the buyer at the auction, they will fetch prices of R1.2 to R1.5 million and could be rented out furnished at R8 000 to R10 000 per month, says Jovanovski.
On 28 June, a 315 square metre commercial/retail property in St James will be auctioned.
Behind the building but very definitely part of the current offer is a courtyard with toilets and a three storey heritage flat, which has three rooms (the apartment is currently tenanted and gets a rental of R6 000 per month).
The close proximity to the station, to St James beach and to some of the Cape’s most popular mountain walks and to Kalk Bay’s restaurants, make these units perennially popular, says Jovanovski.
The reserve price on this building is R2.6 million.
Farm for sale in Benoni R 1 900 000
Farm for sale in Benoni R 4 395 000
Apartment / Flat for sale in Annlin R 850 000
Apartment / Flat for sale in Magalieskruin R 695 000
House for sale in Magalieskruin R 2 100 000
House for sale in Dalmada A H R 5 450 000
Apartment / Flat for sale in Plumstead R 565 000
Apartment / Flat for sale in Magalieskruin R 900 000
Apartment / Flat for sale in Annlin R 360 000
Vacant Land / Plot for sale in Cashan & Ext R 1 300 000
If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.
For the best browsing experience update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.
Please contact our Customer Service Centre for further assistance. Tel. +27 (0)861 111 724