A 702sqm bank repossessed erf at an upmarket Cape golf estate will be going up for auction.
The date of the auction will be announced at the Rawson Auctions multiple auction being held on the 11th of August.
The plot to be auctioned was previously valued at R950k, but, says Tanya Jovanski, CEO of Rawson Auctions, is likely to go for far less on auction as it has been repossessed.
"The fortunate buyer could find himself getting a prime piece of real estate at a bargain price," she said.
The erf has glorious views of the wheat fields of this region and, when built on will be one of 650 homes occupying the 162ha Mount Royal Golf and Country Estate. The built area will occupy only 30% of the total estate, the remainder being taken up by a rare Renosterveld reserve, natural open spaces and a golf course.
To ensure uninterrupted play the existing nine holes and club house will be upgraded once the new nine holes are completed.
Gerry Rehrl, CEO of Mount Royal, said 255 plots have been sold and homes have been built on 21.
The services to the first 303 plots have already been installed. Plots here have fetched prices up to R1m.
The average price of completed homes starts at around R2,4m.
The master plan for Mount Royal includes a resort hotel and spa. An application is being processed for a regional shopping centre to come on stream in 2012, subject to approval by the authorities.
For more information contact Tanya Jovanovski on 082 411 9599.
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