New auctioneers start off with a dozen hot properties
NEW PLAYERS in the local auction market, Savile Row, are set for their launch on November 19, when they bring a mix of industrial and commercial properties to the auction floor.
Their inaugural auction in Cape Town will be at the Westin Grand Arabella Quays Hotel at noon.
They were pleased to be able to offer 12 quality properties at their inaugural event, said Kim Faclier, managing director of Savile Row Auctions in the Western Cape.
“I believe we have seen the bottom of the market and are moving into an upswing as 2010 approaches,” chairman of the board, Lew Geffen, said.
Highlights of the November 19 auction include:
Micro Industrial Park, Bellville. The Bellville Triangle area is situated just off Voortrekker Road and within a kilometre of the R300 with its easy links to the N1 and N2.
With the shortage of industrial land in Cape Town, well-priced properties coming onto the market will attract owner occupiers who want to remain in the area.
Micro Industrial Park is a complex of industrial buildings on the corner of Bridge Road and Micro Street in the Bellville Triangle. The property has two buildings on one erf. The total site area is 7 390m², with a gross building area of 5 415m².
Building one, which is vacant, offers three units ranging from 750m² to 3 000m². Building two is fully let to three tenants with leases until 2012. It measures a total of 2 400m². Both buildings have a good power supply.
The order of sale will be the entire property, the two buildings individually and then the individual units which should attract investors, developers or owner occupiers.
At an anticipated selling rate of R2 500 a square metre, which is currently about 40 percent lower than newly built offerings, this property offers great value in the industrial marketplace.
Number 71 Burg Street, on the corner of Church and Burg streets, is a wellpreserved and maintained national heritage building with original wooden staircase, floors and wraparound balcony overlooking Greenmarket Square, which is being upgraded.
The retail component is already fully let to three tenants with a gross rental income of R35 885 a month.
Number 71 Burg Street has a GLA of 857m² and is adjacent to the world - class Mandela Rhodes Place development.
Rose Farm, 10 Charnwood Avenue in Constantia, Zwaanswyk is a tradi- tional four-bedroom country-style homestead that has mountain and forest views and offers modern equestrian facilities.
Located in an older, more established area in the southern suburbs, the well-designed home is approximately 1 050m² and has exceptionally good finishes.
Despite being close to many amenities, the proximity of the property to the Tokai Forest Reserve means there is a country feel. A swimming pool and lush garden compliment a well-integrated entertainment area.
Kenrock Estate, 20 Eagle Avenue in Hout Bay, an 8 000m² property, is the largest stand in a private estate in the Western Cape. The African-style doublestorey five-bedroom home has mountain and valley views.
In addition to the main house, the property offers a three-bedroom cottage, entertainment facilities, on-site parking for 10 cars and excellent security.
Number 26 Cranko Road, Observatory is a well-restored two-bedroom Victorian house in the heart of Observatory, close to UCT and the N2 highway with high ceilings, wooden floors and a fire- place.
The property also has secure on-site parking and a quaint garden area leading off the lounge and dining room.
For more information on these and other properties, call Kim Faclier on 082 554 6295 or visit www. savilerowauctions.com.
ESTABLISHED: Rose Farm, 10 Charnwood Avenue in Constantia, Zwaanswyk is a traditional four-bedroom country-style homestead that has mountain and forest views and offers modern equestrian facilities.