Aucor Property secures record sale in Salt River

Posted On Sunday, 22 September 2013 22:38 Published by Commercial Property News
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At a little over 4200m2, this prime property netted a sale value of R 23 000 000 to its institutional seller.

5 Malta Street Salt River

Aucor Property announced that the company secured a record sale for a site in the Salt River node, at its auction at the at The Pavilion Conference Centre, The Clocktower, V&A Waterfront on the 29th of August 2013. At a little over 4200m2, this prime property netted a sale value of R 23 000 000 to its institutional seller.

The site, situated at no 5 Malta Road, was home to Tiger Brands for many years and generated significant public interest from potential owner occupiers, investors and redevelopers alike.

Jonathan Aitken, Business Development Executive for Aucor Property comments, " Understanding the type of asset, its strengths and weaknesses and its location is critical to the success of such a transaction. The development of a comprehensive marketing strategy to support the intrinsic qualities of the property was also implemented. This coupled with intensive market research and on-going buyer engagement in the lead up to the sale ensured that we had significant interest upfront and led to 10 registered buyers on the day."

"Our research indicated that that Salt River is undergoing tremendous redevelopment due to the limited space available in Cape Town and as such we knew we would interest in the site. It is rare for this type of asset to come to market and thus we are were able to secure a record bid. This sale is a boost to the node of Salt River, Cape Town industry and the South African economy at large, and should be celebrated as such."

Aitken concludes, "We are delighted with the result and the service we offer in bringing buyers and sellers together in this type of transaction."

Last modified on Thursday, 29 May 2014 17:09

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