Opportunity knocks with valuable commercial sites
THE hammer is to fall on a portfolio with an estimated value of R250 million on Wednesday when ClareMart Auction Group hosts its first multiple commercial auction of the year.
Managing director Andrew Koch has highlighted a number of these opportunities.
One is a six-storey building in the heart of the city centre, next to the Long Street hub. At 53A Castle Street, this freestanding building is next to a new high-rise development.
The property is suitable for an owner-occupier or investor and has redevelopment potential. Part of the building has tenants and, except for the shop on the ground floor, rent their space month to month.
A modern 3 000m² commercial and industrial complex at 442 Koeberg Road in Milnerton is also suitable for an owneroccupier or investor.
There are two buildings that can be combined or used separately. The main building is 2 218m², and consists of a showroom, eight offices and warehousing. The other is a doublestorey of 730m², which can be tailored to a tenant’s requirements. There are 38 parking bays and hi-tech security.
A Paarden Eiland property is also on offer. At 44 Marine Drive, the 1 313m² site is well exposed to passing trade. The building is in a good location with general industrial zoning offering extensive redevelopment potential and would be ideal for an owner-occupier or investor. It yields an annual rental income of R1.1 million.
With improvements along Marine Drive, the N1 and the development of the old power station site, Paarden Eiland’s popularity is high and this is a rare find along the strip.
On offer in Montague Gardens is a 2 480m² industrial warehouse set on a 3 402m² erf at 3 Bakers Street, with 380 amps power supply. The factory offers A-grade office components in a secure location and 18 off-street parking bays. The building was used by a large printing company and is suitable for an owner-occupier.
Also to come under the hammer is a huge industrial development opportunity of four adjacent sites with a combined area of 6 993m² in Racing Park, Killarney Gardens.
The sites are on the corner of Koeberg Road and Furlong S t r e e t , a t t h e s e c o n d mai n entrance to Racing Park, and will be sold individually or as one lot.
T h e C l a r e Mar t Mul t i p l e Commercial Auction is to be held at the Mount Nelson Hotel at 12.30pm on Wednesday. Call 021 425 8822 or visit www.clare mart.com.