Five-storey apartment block on offer on Green Point strip

Posted On Wednesday, 16 September 2009 02:00 Published by eProp Commercial Property News
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Alliance Group will bring to auction a five-storey apartment block in Green Point’s Main Road at its Multiple Commercial Auction on October 13 at the One&Only Hotel.

Property-Housing-ResidentialSituated at 35 Main Road, the property on offer - the Seagull’s Holiday Apartments building - is located on a 687m² erf size and its 1035m2 of floor area is made up of five stories comprising 19 bachelor units and 12 allocated parking bays. The ground floor houses the garage, caretaker’s room, a bathroom, store room and reception area.

“This is a great opportunity for property visionaries as it boasts tremendous redevelopment potential. It would be possible in terms of the general residential zoning of the property to develop the site with a nine-storey block of flats consisting of 38 habitable rooms, or a licensed hotel or a residential building, subject to the zoning scheme being granted,” says Elias Tzouvanni of Alliance Group.

Due to the limited number of prime properties in sought-after areas hitting the market, this site has attracted strong interest from international and local buyers alike.

Limited availability along with its proximity to the Green Point stadium makes this one of the most exciting prospects to date on the Green Point strip.

The property will be auctioned among other prime commercial lots at the One&Only Hotel in the V&A Waterfront on October 13 at 12pm.

Last modified on Wednesday, 18 June 2014 15:46

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