Invest in luxury room with view

Posted On Wednesday, 09 September 2009 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

An entire floor in a prestige apartment block Situated next to Cape Town’s V&A Waterfront, one of the top waterfront developments in the world, is on offer.

Property-Housing-Residential

Situated next to Cape Town’s V&A Waterfront, one of the top waterfront developments in the world, an entire floor in a prestige apartment block is on offer.

Eight luxury apartments belonging to a wealthy Irish property developer and philanthropist, Niall Mellon, are expected to fetch at least R25-million when they go under the hammer later this month.

The apartments will be auctioned by the Clarem art Auction Group.

Offering an enviable lifestyle with world-class amenities, including shopping and entertainment on its doorstep, the seventh floor in block A of Canal Quays is located in one of the most popular tourist destinations.

Several apartments are available, which will be auctioned separately.

They include three two- bedroom, three one-bedroom and two studio apartments, all of which have undercover parking and storerooms.

The apartments were bought off plan in 2006 by Mellon whose local trust, the Niall Mellon Township Trust, has helped to build hundreds of homes in poor areas in the Cape over the past six years.

According to Clarmart auction director Mike Baigel, this is a brilliant corporate investment opportunity to acquire luxury w aterfront properties at 2006 launch prices.


“With the Fifa World Cup virtually on us and demand for luxury rental properties on the increase, these apartments will be an ideal buy-to-let investment.

“We are also expecting an increase in overseas buyers wanting to purchase property in prime Cape Town locations,” said Baigel.

Those interested may view the apartments by appointment or on show days, scheduled for Sunday September 13 from 2pm to 5pm, Thursday September 17 from noon to 3pm and Sunday September 20 from 2pm to 5pm.

The properties will be auctioned at the Multiple Commercial Auction in the Garden Room of the Mount Nelson Hotel on Tuesday September 22 at 12.30pm.

Last modified on Wednesday, 18 June 2014 15:56

Most Popular

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

Repo rate cut by 25 basis points

Jan 16, 2020
Governor_Lesetja_Kganyago_SARB1
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Property in 2020 - here's what's happening

Jan 16, 2020
Carl Coetzee CEO of BetterBond
With the political, economic and social landscape in South Africa being what it is, i.e.…

New hotspots driving cost hikes in key data centre markets - thriving market in South Africa

Jan 21, 2020
Dan Ayley Turner and Townsend
Major global data centre markets are seeing soaring construction costs as development in…

Please publish modules in offcanvas position.