Prime east city CBD build­ing has rede­vel­op­ment po­ten­tial

Weekend Argus (Saturday Edition) - - AUCTIONS -

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.

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