08 Jul 2013
48 Church Street, houses a restaurant on 50 square metres of the ground floor, where the tenant pays a monthly rental of R3 750 and the reserve price for this unit is R350 000, explains Tanya Jovanovski, the Rawson Property Group’s co-franchisee for Rawson Auctions in the Western Cape.
On the first floor is a single office being rented out for R2 450 per month and it has a reserve price of R275 000, while the second floor, consists of three separate offices, two measuring 47.5 square metres and the third 61.5 square metres.
Two of the offices are currently tenanted, the third is vacant and the reserve price is R275 000 each, and R325 000 respectively.
She says the plan is to sell the three office units individually, but if they are sold together the reserve price has been set at R650 000.
In Woodstock, a 340 square metre property with four bedroom Edwardian villas with a loft upstairs located directly behind the Old Biscuit Mill, between Bromwell and Strand Street will be sold on auction too.
The property is situated between a factory and a vacant plot.
“All properties close to Woodstock’s Old Biscuit Mill (perhaps the most popular Saturday morning market and open air eating venue in Cape Town and a pleasant place to browse and shop at any time of the week) have shot up in value since the Old Biscuit Mill took off,” according to Jovanovski.
She explains that the property has until now served as a home and a workshop and the owner, who has lived there for 60 years, uses the back part of the house, which has been converted into a large workshop, to make curtains and upholstery.
The home could, with renovation, be used entirely for offices or rented out as student accommodation like so many others in this precinct, she says.
Reserve price for this home has been set at R2.5 million.
With a mix of commercial, industrial and residential properties up for offer, the auction features some key properties that offer excellent development opportunities for potential investors, according to the auctioneers.
Some of the properties include a Centurion Shopping Centre development opportunity.
The suburb of Monavoni is a relatively new suburb located in Centurion.
Situated immediately west of Weirda Park and a mere 9.5 km’s from the Centurion CBD, the area is up and coming and has been developed as a residential area which features many new large secure estates including Silver Stone Country Estate, Thorn Field Estate, Raslouw Manor and Heuwelsig Estate.
The 3 erven, which have a combined size of 7.2838 ha (72 838 square metres) are well located on the R55 which is a major arterial that runs through the area and conveniently connects the suburb to Sunderland Ridge and Laudium as well as the N14/ Krugersdorp Highway.
Sean Parsons, business development executive for Aucor Property says the property is spread over 3 erven and has zoning for Business 2 for a shopping centre.
The current seller has invested substantial resources in the developmental and planning process and the property is at an advanced stage of development planning.
“In addition to this we are able to supply potential buyers with a range of documentation including a feasibility study, concept Architectural imagery and plans, Conditions of establishment, approved surveyor general diagrams, EIA approvals and roads, stormwater and sewer services agreements,” he says.
Parsons says due to the newness of the area and the substantial amount of residential estates, this property offers the right investor an ideal opportunity to develop the first shopping centre in the area to service the many people that have recently moved into the area.
In the Roodepoort CBD Columbia House located on 23 Van Wyk Street, a combination of retail space and offices will also be auctioned.
It features 7 storeys and has 12 small retail outlets on the ground floor with direct access off the street.
The upper floors of the building are partially completed however the first floor has been configured as a training facility and the 3rd floor is completed office space.
Gary Formato, business development executive for Aucor Property says Columbia House is zoned for Business 1 and has a generous GLA of 1 882 square metres.
“Although the building is not complete, it is currently tenanted and has a combination of short and long term leases which generate a sizeable monthly income for the current owners.”
Due to the fact that the building is partially renovated, the prospective buyer of this property has an ideal opportunity to either finish the renovations for a multi commercial offering or to convert the building into a residential development that has good income generating potential, he says.
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