Tenanted units in Obs on offer

One-bedroom flats with secure parking perfect fit for student accommodation

OBSERVATORY has benefited hugely from the City of Cape Town’s urban upgrade programme, and in recent years, property prices in the area have soared exponentially, as has the demand for residential and commercial properties.

Josh Raisun, a senior auction consultant at ClareMart, says the company will soon bring down the hammer on five tenanted one-bedroom units that each have a secure parking bay.

The units are all newly renovated with neat finishes, modern kitchens and bathrooms and communal braai areas.

“In Observatory, the demand for rental accommodation by far outweighs the supply and it is unlikely there will ever be a shortage of tenants,” says Raisun.

“The suburb’s proximity to UCT and CPUT is a major plus point, particularly in the student accommodation market.”

The property on offer is close to the N2, and is on a busy public transport route for buses and taxis, he says.

“It currently generates an annual rental income of R504000, with tenants paying for water and electricity (prepaid).”

The units at 17 Kotzee Road, Observatory, can be viewed by appointment with the auction consultant.

The property will be up for bidding at ClareMart’s next multiple auction at the new venue at Hellenic Community Centre, 24 Bay Road, Mouille Point, at 12.30pm on April 24.

A 5% deposit and auctioneer’s commission of 10%, excluding VAT, will be payable on the fall of the hammer. The balance will be payable on registration of transfer.

For more details or to make an appointment to view the property, call Josh Raisun on 078 888 9534, email josh@claremart.co.za, or see www. claremart.co.za.

The five Observatory units to be auctioned by ClareMart are all newly renovated with neat finishes and modern kitchens, above, and bathrooms and communal braai areas, above left.