Hig­govale home with enor­mous po­ten­tial

Weekend Argus (Saturday Edition) - - BUSINESS -

HIG­GOVALE has be­come an in­vest­ment hotspot in Cape Town, with a high de­mand for prop­er­ties that of­fers op­por­tu­ni­ties for the de­vel­op­ment of lux­ury homes and higher-den­sity res­i­den­tial es­tab­lish­ments.

Mike Baigel of ClareMart says he has on of­fer an ex­cep­tional prop­erty that pro­vides a rare de­vel­op­ment op­por­tu­nity in this prime lo­ca­tion.

The home, which in­cludes a down­stairs flat­let, is set against moun­tain views and over­looks the City Bowl, he says.

The prop­erty of­fers dou­ble and sin­gle garages, and ad­di­tional off-street park­ing.

Baigel says the prop­erty is sit­u­ated on an erf to­talling 903m² and has a Gen­eral Res­i­den­tial 2 zon­ing.

“This al­lows for res­i­den­tial de­vel­op­ments of multi-dwellings and du­plex apart­ments. The ex­cel­lent lo­ca­tion and sub­stan­tial size of the prop­erty is boosted by mul­ti­ple en­trances with ac­cess from two roads, adding to the de­vel­op­ment po­ten­tial of the prop­erty.”

The de­mand for lux­ury homes and apart­ments in Hig­govale has at­tracted lo­cal and for­eign buy­ers and fam­i­lies re­lo­cat­ing from other prov­inces, he says.

“The ris­ing de­mand has caused prices for apart­ments in this area to in­crease by 50% over the last five years and it is our view that prop­erty val­ues will con­tinue to rise in line with the grow­ing de­mand.”

The prop­erty will be auc­tioned at ClareMart’s Mul­ti­ple Plat­inum Auc­tion at The One & Only Ho­tel, Dock Road, V&A Wa­ter­front, at 1.15pm on May 30.

For more de­tails, call Mike Baigel on 082 926 9479 or 021 425 8822, email mike@ claremart.co.za or see www. claremart.co.za

This Hig­govale home is set on 903m² and has Gen­eral Res­i­den­tial 2 zon­ing. It will be sold on May 30.

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