Get ready for 2009’s big­gest auc­tion

R250m worth of West­ern Cape prime prop­erty falls un­der the ham­mer

Weekend Argus (Saturday Edition) - - AUCTIONS -

CLARE­MART Auc­tion Group will auc­tion a port­fo­lio of prop­er­ties which has been billed “the big­gest for 2009” at their mul­ti­ple com­mer­cial auc­tion on Wed­nes­day.

Ac­cord­ing to group CEO Jonathan Smiedt, the prop­er­ties on auc­tion have a com­bined value of over R350 mil­lion and in­clude land­mark and high-pro­file in­vest­ment op­por­tu­ni­ties.

“We have been in­un­dated with calls from in­ter­ested buy­ers and are ex­pect­ing a record crowd at next week’s auc­tion. We have seen that the cur­rent mar­ket con­di­tions favour com­mer­cial in­vestors, who are looking to add blue-chip prop­er­ties to their port­fo­lios,” said Smiedt.

Smiedt high­lights a liq­ui­da­tion of a pri­vate port­fo­lio as a star-at­trac­tion at the auc­tion. In­structed by the at­tor­neys act­ing on be­half of the own­ers, the en­tire port­fo­lio will be liq­ui­dated and no re­serve prices have been in­di­cated with the in­struc­tions to go to the mar­ket.

“We re­ceived in­struc­tion from the at­tor­neys to go to the mar­ket and get the best price that the mar­ket dic­tates,” he said.

The port­fo­lio in­cludes six in­vest­ment and de­vel­op­ment prop­er­ties and Smiedt is pos­i­tive that the ur­gency of the mat­ter will cause some se­ri­ous bid­ding on the auc­tion floor.

A land­mark shop­ping cen­tre in Bel­lville is in­cluded in the pri­vate port­fo­lio. The Old Oak Spar Cen­tre in Meer­lust Street of­fers an erf ex­tent of 7 264m and is a strate­gi­cally sit­u­ated shop­ping cen­tre lo­cated just off the N1 within Bel­lville’s res­i­den­tial hub. The rental in­come is cur­rently at R2.1m per an­num ex­clud­ing VAT and there is up­side po­ten­tial in terms of two va­can­cies.

Also in Bel­lville, sit­u­ated on the cor ner of Dur­ban and Voortrekker roads, the land­mark Old Mu­tual Build­ing is up for grabs. Sec­tions 1-8 and 10-13 and seven base­ment park­ing bays are on of­fer.

The build­ing of­fers a cen­tral busi­ness zon­ing and ad­di­tional bulk on one of the busiest in­ter­sec­tions in the West­ern Cape. The build­ing is in the cen­tre of the Bel­lville CBD and of­fers good ex­po­sure to pass­ing trade.

In the heart of the Cape Winelands, Por­tion 18 and 19 of the far m Haazen­dal 222 in Kuils River will also fall un­der the ham­mer. This 2.5 hectare zoned far m of­fers a unique life­style op­por­tu­nity close to the Stel­len­bosch wine route and on the doorstep of all ameni­ties in­clud­ing a shop­ping cen­tre and golf course. There is ap­proval for 174 one and two bed­room units.

In­vestors are in­vited to bid on two re­tail units in Ta­ble View. The na­tion­ally ten­anted Unit 3 and 4 in Vi­sion House, in B l o u b e r g Ro a d a r e 2 2 2 m ground floor units that of­fer five un­der­cover and two out­side park­ing bays. Lo­cated on the com­mer­cial route, the units of­fer great vis­i­bil­ity and con­ve­nience.

With 24 prop­er­ties on auc­tion, sales di­rec­tor Far­rell Per­ling high­lighted his choice of prime in­vest­ment buys. Sit­u­ated on Marine Drive in Paar­den Ei­land, the na­tion­ally ten­anted KTM build­ing of­fers a cor­ner site with ex­cel­lent ex­po­sure to pass­ing trade.

The build­ing cur rently yields a healthy rental re­turn of R800 000 per an­num, in­clud­ing sig­nage in­come, and with fur­ther scope for ad­di­tional bulk, there is po­ten­tial to in­crease in­come.

A na­tion­ally ten­anted shop­ping cen­tre in the Boland town o f Well i ngt o n i s a l s o up f o r grabs. In­structed by De Vil­liers and Schreve At­tor neys, the prop­erty is an ur­gent sale.

With a cur­rent in­come of R600 000 per an­num, the cen­tre cur­rently has nine ten­anted re­tail shops in­clud­ing na­tional re­tailer Shoprite.

The B1-zoned prop­erty of f ers at­trac­tive yields with solid te­nan­cies in place.

A prime re-de­vel­op­ment site in the heart of the Wyn­berg sta­tion busi­ness district of­fers e a s y u p g r a d e o p t i o n s. T h e p r o p e r t y a t 1 B r o a d Ro a d , fea­tures gen­eral busi­ness B1 zon­ing, two er­ven with a com­bined erf size of 1 899m² and a build­ing size of 2 325m The proper ty cur rently boasts an an­nual rental in­come of R800 000 ex­clud­ing VAT.

“With month-to-month te­nan­cies in place at the mo­ment, the prop­erty of­fers mas­sive up­side rental and re­de­vel­op­ment po­ten­tial.

“New own­ers can eas­ily up­grade the prop­erty to at­tract fur­ther ten­ants and leases can be rene­go­ti­ated to in­clude longer lease pe­ri­ods,” ex­plained Per­ling.

On the Platinum Strip in Camps Bay, a “once-in-a-life­time” plot is on of­fer. Num­ber 5 The Mead­way, of­fers an erf ex­tent of 495m bulk fac­tor of 0.6 and a four-storey height al­lowance.

With gen­eral res­i­den­tial R11 zon­ing, it of­fers a rare op­portu- nity to build a dream home in the heart of Camps Bay.

Clare­Mart Auc­tion Group will con­duct the Mul­ti­ple Com­mer­cial Auc­tion on Wed­nes­day, Au­gust 26 at 12.30pm in the Gar­den Room of the Mount Nel­son Ho­tel in Cape Town.

For more in­for­ma­tion, call 021425 8822 or visit www.clare mart.com

LAND­MARK: The Old Oak Spar Cen­tre in Meer­lust Street of­fers an erf size of 7 264m2 and is a strate­gi­cally sit­u­ated shop­ping cen­tre lo­cated just off the N1 within Bel­lville’s res­i­den­tial hub.

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