Given the magnitude of this landmark property, it will be auctioned at 11h00 to be followed by Auction Alliance’s Renaissance Multiple Auction that commences thereafter. This property comprises a mix of residential, commercial and retail space with an abundance of parking with a net income of approx R5, 6 million per annum.
Up for sale are 22 sectional title apartments, 11670m² of retail and commercial space, 258 parking bays in the basement plus 300 bays on the upper deck.
“In addition, there is approximately 12000m² of bulk available for future commercial or residential development which has the support of the Blaauwberg Administration,” says Justin Leve of Annenberg Real Estate who is partnering Auction Alliance in bringing this property to the market.
The property will be auctioned as follows:
The 22 apartments as one lot then the commercial space as one lot followed by the entire property.
“This method opens up opportunities for both investors and developers to participate in this auction,” says Kim Faclier of Auction Alliance.
For further information, call either Kim Faclier on 082 554 6295 or Justin Leve on 082 444 5948 or visit www.auctionalliance.com for more details on this unique offering.
