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Cape Town auction highlights

Posted On Wednesday, 16 November 2011 02:00 Published by eProp Commercial Property News
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Various investment opportunites as well as news features for Cape Town based auctions.

Property-Housing-ResidentialHigh exposure office building in the Foreshore:

Fleetway House, a well-situated commercial building in the Cape Town’s Foreshore, boasting massive highway exposure, will be brought under the auctioneer’s gavel.

The 9 storey property is prominently situated at 21 Martin Hammerschlag Way, in the well-established commercial node of Roggebaai. It’s location adjacent to the N1 and N2 Highway Highways, affords it with prime exposure from passing traffic. 

It is also easily accessible via a number of main and secondary arterials, and is well-situated within close proximity to a host of amenities and services including the Cape Town Harbour, the CTICC, Artscape Theatre, Cape Town Municipal, Vodacom, Grindrod and the Mediterranean Shipping Company. 

The property extends over a GLA of 7103m², and hosts 2 foyers and 3 street front shops on the ground floor, 43 parking bays on the first floor that is accessible via a ramp from the ground floor, offices and a dining area on the second floor, and office space on the remaining floors. 

Comments Ryan Joffe of Auction Alliance, “The upcoming sale of this prime property is an opportunity for an investor or owner occupier to acquire a high quality office building with prime exposure”.
The auction takes place Nov 22 at 12pm at the Crystal Towers Hotel & Spa, Century City

Spar anchor tenanted retail property and Tops Liquor Store in Observatory:

A Spar anchor tenanted retail property in Observatory will be brought under the Auction Alliance hammer.

The property is prominently situated at 75 Station Road, on the corner of Nuttal Road, and enjoys good exposure to passing trade. It is easily accessible via main and secondary arterials, and is well-situated within close proximity to a host of amenities and services including Groote Schuur Hospital and the University of Cape Town.

The property hosts a Spar retail store, Tops liquor store and office accommodation. The property produces a gross annual income of R102 000 per annum and Spar’s lease expires in 2014 with a 2 x 5 year options to renew. Tops is on a month to month lease, but they are currently working on a ten year lease. 

The two stores operate separately and are separated by a passage that leads to the open parking at the rear of the building. The property also offers two ATMs (ABSA and Standard Bank) along Station Road. The office accommodation is situated on the roof top of the building and comprises open plan offices with carpeted floors.

In addition, there are approved plans in place for the development of 32 residential apartments.  The property will not be sold with parking, as the vacant land at the back of the property belongs to the Municipality. Spar is in an agreement with the Municipality of Cape Town to rent the open parking.

Comments Elias Tzouvanni of Auction Alliance, “Boasting secure long term leases with national tenants, solid returns and strong potential for capital growth, the upcoming sale of this retail property presents potential investors with a first-rate commercial investment opportunity”.

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

Sectional title commercial units in the Cape Town CBD:

As a result of a liquidation, various sectional title commercial and parking units in the schemes known as SS ‘Piazza on Church Square’ and ‘The Adderley’, in the Cape Town CBD, will be sold without reserve.

The subject sections comprise a basement unit that is currently being utilised as a sound studio, a vacant unit that was previously a restaurant which can be converted back into offices, offices on the second floor and various store rooms scattered between the basement and sixth floors. All units come with parking bays.

Comments Ryan Joffe of Auction Alliance, “The upcoming auction of these units without reserve, presents investors with the unique opportunity to acquire prime commercial units within the CBD at significantly reduced prices”.

The auction takes place  Nov 22 at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton

Sectional title warehouse in Paarden Eiland:

Representing a prime opportunity for owner occupiers, this sectional title warehouse in the popular industrial node of Paarden Eiland is scheduled to fall under the auctioneer’s gavel during next week’s Commercial Multiple auction on November 22.

The property is well-situated at 55 Carlisle Street, opposite Neptune Bus Station, and has easy access to all major routes such as Koeberg Road, Section Road and the N1 Freeway.

The unit is situated within the sectional title scheme known as SS Rosbur Park, and extends over a GLA of 500m². The property comprises a double volume warehouse offering offices, entertainment room, kitchen, and male and female ablutions.

The subject section, together with the other sections, shares a communal covered parking, which can be accessed off Neptune Road. The parking is designed in a way that large vehicles can offload goods into their sections.

Comments Andrew Cohen of Auction Alliance, “The property’s upcoming sale is an opportunity for owner occupiers to acquire a first rate property within one of Cape Town’s premier industrial nodes”.

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

Multi-tenanted heritage building in the Cape Town CBD:

This multi-tenanted heritage building in the Cape Town CBD  is a 4 storey property that is well positioned on the corner of Plein and Spin Streets, and is easily accessible via both Strand and Heerengracht Streets, which provide efficient access to all the main arterial roads in the CBD, as well as to the N1 and N2 Highways. 

The property’s prominent location affords it with excellent exposure from passing traffic, and places it within close proximity to a host of amenities including the V&A Waterfront, CTICC and Cape Town Station.

The property extends over an approximate GLA of 660m², and tenants include Fresh Stop, The National Youth Development Agency, The National Union of Mineworkers and Red Sulphur CC. The property has Sectional Title plans drawn, but they are not registered.

Comments Ryan Joffe of Auction Alliance, “This landmark asset has huge upside potential, and its upcoming sale presents the astute investor with the opportunity to acquire a premium commercial building in the Cape Town CBD”.

The auction takes place Nov 22 at 12pm at the Crystal Towers Hotel & Spa, Century City.

 

Vacant land in Airport Industria sells for R2.6 million:

During last month’s Commercial Multiple auction in Cape Town on October 26, vacant land in Airport Industria, offering an excellent development opportunity, sold for R2.6 million on the fall of the hammer.

The property, situated at 27 Munich Road, approximately 4 kilometres away from Cape Town International Airport, enjoys easy access via the N2 Highway. The property is zoned industrial, and extends over a GLA of 2,485m², the sale thus representing a per sqm value of R1046.  

Comments Greg Nafte of Auction Alliance, “We are currently experiencing significant demand for well-situated tracts of land in established nodes, with investors attempting to capitalise on the opportunity to acquire centrally situated sites in popular industrial nodes and major growth corridors at realistic prices”.

Last modified on Monday, 09 June 2014 10:29

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