Landmark on auction
Host of investment opportunities in vibrant Woodstock/Salt River areas
THE COMMERCIAL property market in the Western Cape is seeing increasing demand for property in areas bordering the Cape Town CBD. Just east of the CBD, Woodstock and Salt River are seeing an increase in activity with several new developments.
According to Andrew Koch, managing director of ClareMart Auction Group, there is definite optimism from the market in these areas. “Woodstock and Salt River are catching up to the revival we have seen in the Cape Town CBD and these vibrant areas are fast becoming trendy addresses.”
The group has a selection of investment properties in Woodstock and Salt River. Situated at 444 Albert Road in Salt River, a fully-tenanted block of flats is up for grabs. The 18-unit block offers a B3-zoned investment opportunity with a rental income of R380 000 a year. The one-room flats are all en-suite. The property can be viewed on Wednesday between 2 and 5pm.
The landmark Old Granary Building in Woodstock is a per- fect redevelopment opportunity. Situated at 4C Beach Road, this six-storey building offers an erf extent of 1401m and potential under roof of 2 444m² as well as an existing 400m2 warehouse. There are also approved plans for a parking garage.
Mike Baigel said: “The building lends itself to a combined office, retail and residential redevelopment. It falls within the revival district and, as a landmark, can become an iconic address”
The building may be viewed on Tuesday from 2pm to 5pm.
Nearby, Coleridge House at 450-452 Albert Road, is a 490m tenanted commercial building with a corner location. The property offers an erf extent of 536m2 and a building extent of 490m2. It features five tenants with a rental income of R308 640 a year. The viewing this Wednesday is from 2pm to 5pm.
Attend the ClareMart Auction Group multiple commercial auction to bid on these properties at the Mount Nelson Hotel on Wednesday, November 18 at 12.30pm. For more information, call 021 425 8822 or visit www.claremart.com.
ICONIC: The landmark Old Granary Building in Woodstock is a perfect redevelopment opportunity.