Foreign investors snap up apartment block
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.claremart.co.za.
SOLD! Brandon Platt and Andrew Edelstein outside South Port in Table View, which was recently sold to Swiss investors for R3.29 million.