Cape auction highlights

Posted On Thursday, 03 November 2011 02:00 Published by eProp Commercial Property News
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Industrial facilities feature prominently; also on offer are a number of units at the V&A Waterfront.

Property-Housing-ResidentialMassive Industrial plant in Paarl:

A decommissioned tobacco manufacturing plant in Paarl, owned by British American Tobacco, will be brought to the auction floor during next month’s Commercial Multiple auction on November 22.

The property which extends over 5 ha was originally developed the Rembrandt Tobacco Group, and was considered one of the most modern tobacco manufacturing plants in the world -  in 1952. The property, bordered by three roads and Berg river frontage- is located to the east of the Paarl CBD, where many other residential and retail developments are in various stages of progress.

Located on the corner of Lady grey and Berg River Streets, this property enjoys high exposure and offers an excellent redevelopment opportunity, unique in scale and location.

The property lends itself to retail and mixed use residential redevelopment although it is currently zoned for industry, with 75% coverage and 6 story height restriction. The property boasts an industrial power supply of 4000 KVA.

The numerous improvements to the property offer a total G.L.A. of ±17900m² with three large warehouse spaces making up the most of lettable area. The most modern building is a 6 945m² double story factory which includes numerous workshops, storage areas and offices.  In addition there are 2 other large open plan warehouses offering 3 463m² and 4 571m² respectively.

One of which includes ablution facilities and secondary office accommodation. A staff entrance and security control area is located in a 140m² renovated Victorian building. The entire perimeter is secured by electrified fencing and access is restricted to 3 entrance points.

In addition there is over 15 000m² of land previously dedicated to sport and recreational facilities, a recreational complex, shaded parking areas and three identical residential units.

Furthermore there is a semi detached house, used as staff quarters for the Rembrandt Group, across the road at 45 Synagogue Street included in the auction.

“This unique property offers the investor a rare chance to stake a large claim in a prime location near popular retail and residential developments in Paarl.” comments Elias Tzouvanni from Auction Alliance. “The property is also ideal for a private school development. “

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

Fully Let Industrial facility in Beaconvale:

The well-positioned industrial facility is situated at 25 – 31 Selsondon Street, in the well-established industrial node of Beaconvale, Parow. Centrally located near the intersection of M16 and the M12, the property enjoys easy access to all the major arterial routes in Cape Town and close proximity to the Cape Town International Airport. 

The well maintained property hosts eight separate units, with the GLA totalling 3147m ². A secure entrance provides access to the buildings and opens to a central parking yard. Two of the units have additional street front access, and offer a further 15 off street parking bays.

All eight of the units are let by established tenants, and the property currently generates R939 832 in Gross Annual Income. Each unit offers a double volume workshop or storage area, office space and a private kitchen and ablution space.
 
Comments Greg Nafte, of Auction Alliance, “this fully let property is well managed and in very good condition offering a solid investment for buyers looking for stable returns.”

The auction takes place at the Crystal Towers Hotel and Spa, Century City at 12pm on November 22.

Liquidation sales of V&A assets:

A luxury penthouse and 3 upmarket apartments, in the state-of-the art Canal Quays apartment block, will be brought under the Auction Alliance hammer after the liquidation of Cape property developer, Zwelinzima Property Developers. The property development company was placed into liquidation in May and liquidator Chris Van Zyl was appointed, after an application by its Directors to the Cape High Court.

Zwelinzima Property Developers was a property development company pioneered by well-known businessman, Fez Mahlati. The company's vision was to be the largest black controlled, Property Development and Asset Managers Company in the Western Cape.

Set on Cape Town’s Fore Shore, between the V&A waterfront and the International Convention Centre, Canal Quays was designed by well-known architect Dennis Fabian to capture commanding views of the harbour and sea to the north, and Table Mountain to the south. The upmarket apartment block is situated on Roggebaai canal, which links the Cape Town International Convention Centre to the V&A Waterfront.

The four properties on offer include an ultra luxurious penthouse with three en suite bedrooms, a guest toilet and an expansive terrace with private pool. Modern interior design ensures light and space, while sound reductive glazing and climate control create a serene environment. The penthouse includes 3 undercover parking bays.

There are two double bedroom apartments also on offer; one on the ground level and the other is on the 6th floor, both are finished to very high standards and offer two undercover parking bays. The Ground floor apartment includes two bathrooms with main en suite and a large balcony.

The sixth floor apartment includes the same and offers an extra guest toilet and fabulous views.

Furthermore, there is a single bedroom, single bathroom apartment available on the sixth floor, with a large balcony and single parking bay, which completes this offer.
 
The entire development is protected by access control security with 24 hour manned CCTV security and concierge desk and features a private resident’s pool with sundeck.

Auctioneer Ish Hendricks of Auction Alliance comments, “This is such a great buying opportunity – great building, excellent location and an auction environment where the market will determine the real price for each apartment.”

Last modified on Monday, 09 June 2014 11:02

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