Cape auction round up

Posted On Wednesday, 19 October 2011 02:00 Published by eProp Commercial Property News
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Among some of the many offerings at the next Auction Alliance multi auction opportunity is a bank tenanted facility in Mowbray and multi student leased apartments.

Jacques CoetzerFour fully-let retail units near the Observatory Station:

Four fully-let sectional title retail units, in the well-established commercial and residential node of Observatory will be offered on October 26, during Auction Alliance’s monthly Commercial Multiple auction.

The street front units are well-situated at 65 Station Road, within close proximity to the Observatory Train Station, and enjoy excellent exposure from the high levels of passing foot traffic.

The units, which extend over an approximate GLA of 349m², are tenanted by Mr Video, Supersave, a clothing shop and OBZ Shoes.

Comments Jacques Coetzer of Auction Alliance, “Don't miss out on the opportunity to capitalise on the stable income streams offered by this first-rate retail property”.

The auction takes place at 12pm at the Crystal Towers Hotel & Spa, Century City

31 University leased apartments in Kuilsrivier:

31 sectional title residential units within River Park, a newly built residential development in Kuilsrivier, which are currently leased to the Cape Peninsula University of Technology, will be brought to auction.

The property comprises two separate multi storey residential buildings under the scheme name SS ‘River Park’. In total, there are 114 sectional sections, of which 31 residential flats with storerooms will be auctioned.

The property is situated on the corner of Van Riebeeck and Hope Streets, in the established residential node of Basonia, west of the Kuilsrivier CBD. The property offers easy access to the Kuilsrivier Freeway (R300) and Modderdam Road (M10) which in turn provide access to the N1 and N2 Freeways.

The property’s lease with Cape Peninsula University of Technology expires in 2013, with the option to renew until 2015. The property produces a gross annual income of R1, 825 million.

Accommodation offered includes 31 two bedroom units each consisting of a kitchen, open plan lounge, and bathroom fitted with standard finishes. In addition, there are eight storerooms situated on each floor. The doors on each unit have a code access control.

Access to the upper floors is gained through the main entrance which is monitored by a security guard at the main gate and finger access control at the main entrance of each building.

The auction takes place at 12pm at the Crystal Towers Hotel & Spa, Century City

Standard Bank tenanted commercial building in Mowbray:

A Standard Bank tenanted commercial building on Mowbray Main Road, will be offered during Auction Alliance’s Commercial Multiple auction on Wednesday October 26.

The double storey property is prominently situated at 37 Main Road, on the main road leading to the Mowbray Train Station, with good exposure to passing trade.  The property is easily accessible via the N2 Freeway, Settlers Way and Rondebosch Main Road, and is located within close proximity to a host of amenities including the University of Cape Town and Groote Schuur Hospital.

The facility, which hosts a bank hall and offices, extends over an approximate GLA of 1,183m². Standard Bank has a long term lease in place which expires in 2016. ATM machines are located at the main entrance of the property.

The bank hall is situated on the ground floor, and features a reception area, training room, private and partitioned offices and a strong room secured by a steel burglar gate.
The first floor, which is currently vacant, hosts a combination of private and open plan offices.

Comments Andrew Cohen of Auction Alliance, “The property’s prime location and long term lease with Standard Bank, makes it a high yielding investment opportunity not to be missed”.

The auction takes place at 12pm at the Crystal Towers Hotel & Spa, Century City

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