Land­mark on auc­tion

Host of in­vest­ment op­por­tu­ni­ties in vi­brant Wood­stock/Salt River ar­eas

Weekend Argus (Saturday Edition) - - AUCTIONS -

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.

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