The property, situated at 56 Shortmarket Street, a highly sought after business node, is surrounded by a number of attractive retail and office buildings.

The entrance to the property is on Long Street, affording the property a high level of passing pedestrian and vehicle traffic.

The property’s convenient location between Loop and Long Street makes it easily accessible to public transport and assorted amenities within the central city.

The property has a GLA of 303m² and is currently being used as a nightclub. The building is in average condition and comprises sectional units 8, 9, 10, 11 and 22, which together form a basement space used in the operation of the club. According to the lease agreement the property has a gross annual rental Income of about R390 000.

Comments Ryan Joffe of Auction Alliance, “this property represents an outstanding investment opportunity due to its excellent location in the Cape Town CBD and the fact that properties in this sought after area do not often enter the market.”

The auction takes place at 12pm at The Crystal Towers Hotel & Spa, Century City.