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Homes and commercial property auctions

08 Oct 2013

On 23 October, Rawson Auctions in the Western Cape will auction a deceased estate property in Bellville South which consists of three units with bids expected to start off at R800 000.

On 23 October, Rawson Auctions in the Western Cape will auction a deceased estate property in Bellville South which consists of three units with bids expected to start off at R800 000.

The auction will take place at 12pm at 222 Main Road, Rondebosch.

According to Tanya Jovanovski, co-franchisee for Rawson Auctions in the Western Cape, the property has been divided into three separate units, one of which could be subdivided into two smaller units and the double garage could also be converted into living space.

The main house has four bedrooms, a lounge, kitchen, laundry, bathroom and the previously mentioned double garage.

The second unit, which is a small flatlet, has one bedroom and an open-plan kitchen and lounge and the third unit has two bedrooms, a sunken lounge, a bathroom and a fully fitted kitchen.

“Property in Bellville South is always in demand due to it being a university town and this particular unit would be ideal for students studying at the University of the Western Cape as it is only 4.2 km away,” she says.

A large Equestrian Estate at 2002 Otto Du Plessis Drive (previously known as Old Skip Road) in Melkbosstrand will be sold at the fall of the hammer.

A prime property located at 64 Bompas Road in Dunkeld, Johannesburg, will be auctioned on 9 October at the Hyatt Regency Hotel in Rosebank at 12pm.

It has two homes, a cottage, an outbuilding with two bedroom staff quarters, three stables, a storeroom, a workshop, a two-car garage and another outbuilding with a triple garage, storeroom, laundry and more domestic quarters.

She explains that the double storey home has three en suite bedrooms (the master bedroom measures 52 square metres) as well as a 77 square metre guest suite.

The second home, also double storey, has three en suite bedrooms while the 80 square metre cottage has one large bedroom with en suite bathroom and an open-plan kitchen and living area fitted with a Jetmaster fireplace.

Jovanovski says the estate is equipped with two equestrian holding pens and a dressage pen - making it ideal for an equestrian family. Bidding is expected to start at R7 million.

Located on Royal Road in Maitland is a property offering six units all tenanted and up for auction.

Units 102A and 104A are granny flats with one bedroom, kitchen, lounge/dining area, bathroom with a shower and toilet and a small yard.

These units rent out for R2 700 and R2 600 respectively.

A large Equestrian Estate at 2002 Otto Du Plessis Drive (previously known as Old Skip Road) in Melkbosstrand will be sold at the fall of the hammer.

Units 106A, 102 and 104 are the same as the granny flats, however, they have three bedrooms and achieve rents of R5 000, R5 400 and R5 400 and Unit 106, similar to others with four bedrooms commanding a monthly rental of R6 000.

Reserve price has been set at R2.5 million and the property achieves a combined rental of R27 100 per month, she points out.

“If a buy-to-let investor can achieve a price close to the reserve then they will be enjoying a return that is far better than the average for residential property in Cape Town.”

On the same day, a commercial unit measuring 350 square metres on Victoria Road in Woodstock will be auctioned.

According to Jovanovski, the unit currently has one floor, however, the height restriction is set at four floors with a coverage of 100 percent which could be seen as a very tempting investment opportunity for an enterprising individual looking for a property to develop.

It is MU2 (mixed-use) zoned which accommodates a mixture of business. Primary use can be for business or industrial premises, as a boarding house, a place of worship or a place of assembly.

She says the unit has two shops at the front currently tenanted.

The first shop, Telko Flooring sells flooring products and the second is a convenience store and the shops earn rents of R6 500 and R5 500 per month respectively.

A 350 square metre commercial unit on Victoria Road in Woodstock will be auctioned.

The convenience store has a small flatlet behind it which is currently tenanted by the store’s owner. Expect bidding to start at R2.5 million and the property offers a development opportunity.

In Johannesburg on 9 October, Aucor will hold a multiple property auction at the Hyatt Regency Hotel in Rosebank at 12pm.

Properties to be auctioned include prime property located at 64 Bompas Road in Dunkeld.

Sean Parsons, business development executive, says this is rare type of property well-situated in one of Johannesburg north’s most exclusive suburbs.

It lies on a main arterial linking Jan Smuts Avenue to Oxford Road, is 2 974 square metres in extent, with an approximate general building area of 443 square metres and is zoned for Residential 3, which includes the allowance for a maximum of seven residential units to be built.

Currently the property features a double storey three bedroom home which has numerous entertainment areas including a pool, thatch lapa and pizza oven.

Located on Royal Road in Maitland is a property offering six units, all tenanted and up for auction.

Parsons notes that there are proposed upgrades in the area should approvals from all relevant parties and stakeholders be obtained.

These relates specifically to the blocks that are bounded by Cradock Avenue and Oxford, Rosebank and Bompas Roads and this is being done within the project Management District 1D of the Rosebank Urban Development Framework.

He says future plans for the area include re-development to replace what is mostly two-storey buildings with four to six storey buildings that will have greater floor area ratios and coverage.

“The project will involve a crucial upgrading of the roads to improve traffic flows and access as well as significant greening of the area through focused landscaping initiatives,” he says.

Parsons adds that this means that this property is prime in terms of its specific locality and size for developers looking to be part of this potential exciting expansion and re-development initiative.

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