For­eign in­vestors snap up apart­ment block

Weekend Argus (Saturday Edition) - - AUCTIONS -

A FULLY TEN­ANTED apart­ment block in Ta­ble View was sold for R3.29 mil­lion by Clare­Mart Auc­tion Group at its Oc­to­ber mul­ti­ple com­mer­cial and in­vest­ment prop­erty auc­tion.

“South Port at 73 South Road is in a pop­u­lar Ta­ble View node,” says new busi­ness man­ager, An­drew Edel­stein.

The South Port sale in­cluded 10 36m one-bed­room sec­tional ti­tle apart­ments, as well as four garages and nine park­ing bays. The apart­ment block is built on a se­cure 1 004m erf with re­mote con­trol ac­cess and elec­tric fenc­ing.

“The fairly modern block is well main­tained and there was tremen­dous in­ter­est lead­ing up to auc­tion,” says Edel­stein. “The sale of this apart­ment block con­tin­ues in line with our ob­ser­va­tion that apart­ment blocks in high de­mand ar­eas show­ing good re­turns are be­ing snapped up at auc­tions by in­vestors. We’ve been suc­cess­ful in dis­pos­ing of a num­ber of these prop­er­ties.

“In­ter­est rates world-wide are at an all- time low and in­vestors are cast­ing their eyes glob­ally in pur­suit of bet­ter re­turns. The Swiss buy­ers of South Port are in­vestors who says apart­ment blocks in South Africa are of­fer­ing among the best re­turns world­wide,” says Edel­stein.

Call 021 425 8822 or visit www.clare­

SOLD! Bran­don Platt and An­drew Edel­stein out­side South Port in Ta­ble View, which was re­cently sold to Swiss in­vestors for R3.29 mil­lion.

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