Mow­bray apart­ment block and shops on auc­tion block

Weekend Argus (Saturday Edition) - - AUCTIONS -

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.

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