Mowbray apartment block and shops on auction block
AN APARTMENT block in the heart of Cape Town student
According to ClareMart agent Andrew Edelstein, the property is an ideal investment opportunity, offering secure income
district is up for grabs.
Situated on the corner of Main Road and Bollihope Crescent in Mowbray, the property features an apartment block and a retail component.
According to ClareMart agent Andrew Edelstein, the 10 Main Road address is an ideal investment opportunity of fering a secure income from both the residential and retail sections.
The ground-level comprises of three shops, seven garages and a cottage, while the upper floor contains seven flats.
The 906m2 erf has a current rental income of R600 000 per annum.
“Mowbray is ideally loca- ted close to the UCT campus and private colleges.
“There is a huge demand for student accommodation in the area and Mowbray, with its restaurants and pubs, is a fir m f avourite with students,” said Edelstein.
The large site would facilitate further development and there is sectional title potential.
Those interested may view the property on Wednesday from noon to 3pm.
It will be auctioned at this month’s multiple commercial auction at the Mount Nelson Hotel on Wednesday, November 18 at 12.30pm.
For more information, call 021 425 8822 or visit www.claremart.com.
INVESTOR’S DREAM: An apartment block in the heart of Cape Town student district that is for sale also offers a retail component.