Prime east city CBD building has redevelopment potential
A FREESTANDING building in a prime position close to Wembley Square in Gardens will soon be auctioned, offering buyers a redevelopment opportunity in an area with rapid growth.
ClareMart Auction Group agent Andrew Edelstein says: “The east city precinct is a hot place to be and many trendsetters are already settled here. Well-developed infrastructure and the area’s proximity to the CBD, harbour, railway lines and major national roads makes it highly sought-after and an ideal business address.”
Situated at 11 Clare Street, on the border of the Cape Town CBD, the property is suitable for commercial or residential redevelopment, or would suit an owner-occupier, Edelstein says.
“It will be sold with vacant occupation.”
The 452m² erf offers a height restriction of seven storeys, a 3.7 bulk factor and a building extent of about 400m², he adds.
Interested people may view the property at their leisure.
It will be auctioned at ClareMart Auction Group’s multiple commercial auction, in the Garden Room of the Mount Nelson Hotel at 12.30pm on Wednesday, June 30.
For more information, contact ClareMart Auction Group on 021 425 8822 or visit the comp a n y ’ s w e b s i t e a t w w w. claremart.com.