Bid for unit in five-star Taj Ho­tel

Weekend Argus (Sunday Edition) - - OPINION -

PO­TEN­TIAL buy­ers will this month have an op­por­tu­nity to pur­chase a two-bed­roomed unit in the five-star Taj Ho­tel, which is at the en­trance to St Ge­orge’s Mall in cen­tral Cape Town.

“The prop­erty could function as an in­come gen­er­a­tor. It at­tracted a rev­enue of R1.1 mil­lion dur­ing 2016 and 2017,” says Tanya Jo­vanovski, fran­chisee of Raw­son Auc­tions Western Cape, which will sell the unit on silent auc­tion.

The unit on of­fer – Num­ber 1203 – has a floor area of 114m², and is spa­cious, mod­ern and fully fur­nished.

It com­prises two bed­rooms, two bath­rooms, an open-plan lounge and din­ing room, a kitchen fit­ted with ma­jor ap­pli­ances, bal­conies off the lounge and both bed­rooms, wifi, air-con­di­tion­ing and un­der­floor heat­ing.

Jo­vanovski says the Taj has a rev­enue-shar­ing model whereby the buyer can “hand over” the apart­ment for let­ting as part of the ho­tel in­ven­tory. The owner re­ceives 70% of the rental in­come.

“The daily rate that could be achieved for this unit – tak­ing the sea­son into ac­count – is be­tween R3 000 and R5 000,” she says.

The auc­tion will be held at noon on Novem­ber 29. The re­serve price is R7 mil­lion, but all of­fers will be con­sid­ered.

No regis­tra­tion fee is re­quired to bid . How­ever, the buyer will be ex­pected to pay a de­posit of 5% of the pur­chase price, as well as 10% com­mis­sion plus VAT over and above the pur­chase price on the seller’s ac­cep­tance of the bid. Bid­ders are re­quired to be reg­is­tered and must have with them certified copies of their iden­tity doc­u­ments and proof of res­i­dence.

All of­fers must be sub­mit­ted on Raw­son Auc­tions’ Of­fer to Pur­chase form. A copy can be ob­tained by con­tact­ing info@raw­sonauc­ or 021 837 1700. Bids can be de­liv­ered to the Raw­son Prop­erty Group at 222 Main Road, Ron­de­bosch.

For de­tails or to book an ap­point­ment to view, call

Josh Raisun on 078 888 9534 or Jo­vanovski on 021 837 1700.

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