Investment opportunity beckons for a CBD investor
A TENANTED multilevel group of CBD properties spanning more than six erven will fall under the hammer of the ClareMart Auction Group during its multiple commercial and investment property auction this month.
“This offering will appeal to the large investor who requires a portfolio of established retail and commercial tenants in the Cape Town CBD,” says senior auction agent, Carlos Caldeira.
The property known as 210 on Long consists of two wellmaintained adjoining art deco buildings in Long Street, with an entrance to its mall component on Bloem Street. On the ground floor is a shopping mall with 14 shops and three eateries.
Caldeira says the tenant mix reflects the cosmopolitan character that Long Street is famous for. Tenants include a tobacconist, a clothing outlet, a body art studio, an eastern apothecary, a hair salon and two restaurants as well as a takeaway. Also with exposure directly on Long Street is a popular national takeout and restaurant franchise.
There are 33 offices on the upper floors with a wide range of tenants, that include attorneys, travel agents, a wellknown magazine publisher and a beverage distributor. Other tenants in the portfolio include an online ticket reservation service, accountants, an outdoor advertising agency and a multinational non-profit organisation with offices in 26 countries.
“The multilayered business and cultural aspect of the street attracts tourists as well as local business and this premium commercial investment should appeal to large investors who wish to acquire an asset on this perennially busy city centre landmark street,” says Caldeira.
The property may be viewed and will be auctioned at the One & Only Hotel, V&A Waterfront on Wednesday at 12.30pm. For details, call Caldeira on 021 425 8822 or 082 824 8778 and visit www.claremart.co.za.
CENTRAL CITY: 210 on Long consists of two adjoining art deco buildings with alternative access from Bloem Street.