Buyer swoops before auction
A SEA POINT residential property was recently sold out of hand for R1.7 million to a Cape Town investor who intends to upgrade it, says auction agent Rod Harris of ClareMart Auction Group.
“The offer was made before the property went under the hammer,” he says.
Harris says potential buyers frequently submit offers before auctions to avoid the risk of losing a property.
Located in a vibrant part of Sea Point, just off Main Road, 8 Solomons Road has redevelopment potential, he says. The property is opposite the new Regent Road Spar complex and within walking distance of the beach.
The 120m² house, on a 150m² erf, has three bedrooms, a loung e, a fully equipped kitchen, a family bathroom, and a small courtyard.
“ Wi t h R 2 z o n i n g a n d a three-storey height restriction, it can be extended to allow for multiple residential units,” says Harris.
He believes a benefit of buying a property in this area is the growth that will be a ch i eve d a s s u r ro u n d i n g blocks are upgraded. “Regent Road has already seen a surge of improvements of existing properties since the introduction of the new Spar centre.”
C a l l C l a r e Mar t Au c t i o n Group on 021 425 8822 or visit www.claremart.com
EARLY SALE: The Sea Point property in the centre of picture has redevelopment potential and was recently sold out of hand to a local investor for R1.7 million.