Large Salt River industrial site and mixed use zoning offer a rare chance

AUCOR Property will be handling a large corporate disposal at its Cape Town Auction at noon on August 29 at The Pavilion Conference Centre, The Clock Tower, V&A Waterfront.

Bradley Stephens, director at Aucor Property, says that institutional sellers wanting to reduce non- core assets has enabled the firm to bring some industrial properties to the market.

“Headlining the event is a large industrial property at 5 Malta Road in the Salt River node, traditionally an industrial area between Observatory a n d Wo o d s t o c k , ” s a y s Stephens.

“The property is zoned mixed use 2, which could include business premises, industry, residential, place of instruction, place of worship, institution, hospital, place of assembly, place of entertainment, hotel, conference facility, authority use, utility service, rooftop base telecommunication station, transport use, multiple parking garage, private road or open space.”

The property has a 3 800m² warehouse with roller-shutter doors and several access ramps inside the building. Other than a separate 400m² double-storey office building, there are outbuildings and a tarred yard.

Jonathan Aitken, business development executive for Aucor Property, says that Salt River is undergoing tremendous redevelopment due to the limited space available in the Cape Town CBD.

“It is rare for this type of asset to come to market. The site offers a redevelopment opportunity for an investor,” says Aitken.