Historical Cape Town building for sale

A tenanted double-storey commercial building on Castle Street in Cape Town’s central business district will be going on auction.

The 228m² (450m² over both floors) property is currently being leased for R90,000 a month (water and electricity chares are covered by the tenant) until November 2018, but the lease can be renewed.

The property is one of the many old Cape Town buildings situated above Buitengracht Street. It has high ceilings, lofty lintels and exposed roof trusses with skylights to allow ample light into the property.

It draws on features such as hefty hard wood and exposed brickwork to give a French brasserie interior, remaining elegant at the same time.

The property has a heritage grading 3(b) and falls within a conservation area as it is older than 60 years.

The property is situated within a mixed-use node comprising a number of retail stores, top restaurants, prime offices and residential apartments. It is also close to the financial services hub of Cape Town and the De Waterkant precinct.

“The building appears to be in a good state of repair with little, if any, maintenance required,” commented Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.

The property will be going on auction on June 13 at noon. The reserve price is POA (price on application). However, all offers will be reviewed. The seller is registered for VAT and, as such, a transfer duty is not payable.

In keeping with Rawson Auctions’ terms, there is no registration fee. However, 5% deposit of the purchase price, as well as 10% commission plus VAT over and above the purchase price, must be paid to Rawson Auctions by the buyer on acceptance of the seller. Bidders must be registered and must have certified copies of their IDs and proof of residence.

Bids can be delivered to Rawson Property Group’s head office at 222 Main Road in Rondebosch, Cape Town.