Mixed-use building in Wynberg up for grabs

Posted On Wednesday, 01 June 2011 02:00 Published by eProp Commercial Property News
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Auction Alliance will take a mixed-use building in Wynberg, offering a combination of commercial office and retail accommodation, to auction during its upcoming commercial Multiple Auction scheduled to be held on June 28

Property-Housing-ResidentialSituated at 3 Millbank Road, Wynberg, the property is conveniently located and easily accessible via a number of main and secondary arterials including the M4, which stretches from Muizenburg to the CBD as well as Kromboom Parkway which provides efficient access to surrounding suburbs including Claremont and Rondebosch. The property enjoys excellent exposure due to its prominent location within Wynberg and is surrounded by a number of commercial and retail outlets. 

The property extends over a GLA of 2028m² and generates an approximate gross annual income of R1 490433.The double-storey property includes both office and retail space, with the office space covering the bulk of the floor area. The property is currently tenanted by the Department of Home Affairs, who has a lease in place until June 2012.

The office component features 2 large waiting rooms, 9 private office areas, 2 smaller rooms, an archives area and public ablution facilities.  In addition, the area includes a staff recreation area, kitchenette and ablution facilities located on the upper floor.

The retail component is situated at the rear of the property and features a café, photograph store, large waiting area, 2 large rooms covering a vast floor area, a private office, a safe, a single toilet and cold room.  The property is situated directly opposite a parking lot, currently owned by the city council. The parking lot offers ample parking space for up to 140 cars, an important advantage for potential owners due to the scarcity of parking in the Wynberg area.

Comments Elias Tzouvanni of Auction Alliance, “Closely aligned with the retail sector, prime office space is currently experiencing a significant growth in demand, specifically for office space situated in centralised commercial nodes”.

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

For more information or if you want a similar property sold or valued contact Elias Tzouvanni on Tel: 076 153 2352 or Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Last modified on Saturday, 07 June 2014 12:52

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