High exposure commercial property on offer in Hout Bay

CLAREMART’S hammer will soon fall on two commercial properties of 421m² each in Hout Bay, both tenanted, with existing leases in place until 2020.

The properties, zoned General Business 1, will be sold together, says Mike Baigel, ClareMart Group auction executive.

Baigel says the properties offer a great redevelopment opportunity, with plans to consolidate the two buildings, and would be ideal for a restaurant or entertainment venture, particularly given Hout Bay’s tourism appeal.

Hout Bay is just a 15-minute drive from central Cape Town.

“Commercial property in Hout Bay has become sought-after and these particular properties have a prime location and benefit from high visibility with good exposure to traffic,” he says.

“They yield a steady rental income of more than R500000 a year and are solid investment opportunities. Judging by the inquiries we have received, we anticipate some competitive bids.”

The properties, at 9 Victoria Avenue and 9 Princess Street, will be on show from noon to 2pm on Wednesday.

They will be auctioned at ClareMart’s next multiple auction at the One&Only Hotel, V&A Waterfront, at 12.30pm on January 30.

A 5% deposit and auctioneer’s fee of 10% excluding VAT will be payable on the fall of the hammer, by means of bank guaranteed cheque or EFT only.

The balance will be payable on transfer.

For more details or an appointment to view the property, email Mike Baigel at mike@claremart.co.za, call 082 926 9479, or see www.claremart.co.za.

9 Victoria Avenue in Hout Bay.