Tenanted Maitland commercial property generates good income

AMONG the properties available in Rawson Auction Western Cape’s upcoming multi-property auction this month is “an income-generating investment property” in the form of a tenanted commercial unit in Voortrekker Road, Maitland.

The unit, which houses an upholstery supply business, covers around 450m², says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape. “The shop floor has an area of about 60m², and the remainder of the unit comprises storage space, a kitchenette and a bathroom.” There are two outside parking spots and a 24-hour security post. She says the property is in excellent condition.

“From the end of this month the rental income will be R20 000 per month excluding VAT,” she says. “The upholstery business has a lease in place until June 2020.”

The auction will be held at noon on Wednesday. The reserve price is R2.3 million, but all offers will be reviewed. The seller is registered for VAT, so transfer duty will not be payable.

No registration fee is required to bid with Rawson Auctions. However, the buyer will be required to pay a deposit of 5% of the purchase price, as well as 10% commission plus VAT over and above the purchase price, to Rawson Auctions Western Cape 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 should be submitted on Rawson Auctions’ Offer to Purchase form, with its standard terms and conditions. A copy can be obtained by contacting the Rawson Auctions Western Cape office on info@ rawsonauctions.com or 021 837 1700. Bids can be delivered to the Rawson Property Group’s head office at 222 Main Road, Rondebosch.

For more details or an appointment, call Ashraf Antooley on 074 469 7326 or Tanya Jovanovski on 021 837 1700.