Savile Row Auctions has announced that its upcoming inaugural auction will offer the market place a dynamic mix of both industrial and commercial properties when the gavel comes down on the 19 November in the Ballroom, at The Westin Grand Arabella Quays Hotel adjacent to the Cape Town International Convention Centre. The auction starts at 12h00 for both commercial and residential properties.
Kim Faclier, Managing Director of Savile Row Auctions in the Western Cape says, "We have had an intense run up to our first Cape Town auction event and as a team we are pleased to be able to bring such quality property to the market at our inaugural event. Our commercial property unit is lead by Tony Bales and Guy de la Porte and their immense experience over of 65 years in the market place is evident in that we have 12 prime commercial properties going under the hammer.
"Furthermore, our residential offering is strong as a result of the fact that Savile Row Auctions is the exclusive provider of property auction services in South Africa for properties listed by Lew Geffen Sotheby's International Realty."
Lew Geffen, Chairman of the Board says, "Having launched off a cruiser in the Johannesburg Northern and Southern markets in a few short months, we are able to aggregate that expertise and strengthen the offering for the Cape Town market. This is enhanced by the fact that I believe that we have seen the bottom of the market and are moving into an upswing as 2010 approaches."
Some of the properties to go on auction on the 19 of November include:
Micro Industrial Park, Bellville
Micro Industrial Park is a complex of industrial buildings located on the corner of Bridge Road and Micro Street in the Bellville Triangle. The Bellville Triangle area is situated just off Voortrekker Road and within a kilometre of the R300 which has easy links to the N1 and N2. The property has two buildings on one erf. The total site area is 7390sqm, with a gross building area of 5415sqm. Building 1 which is currently vacant, offers three units ranging in size from 750sqm to 3000sqm. Building 2 is fully let to three tenants with leases in place until 2012 and measures a total of 2400sqm. Both buildings have a good power supply. The order of sale will be the entire property, the two buildings individually and then the individual units which should attract investors, developers or owner occupiers. At an anticipated selling rate of R2 500 per sqm, which is currently about 40% lower than newly built offerings, this property offers good value in the industrial market place.
71 Burg Street c/o Church Street & Burg Street
This property is a well-preserved and maintained national heritage building with original wooden staircase, floors and wrap-around balcony overlooking Greenmarket Square, which is currently being upgraded. The retail component is already fully let with a Gross Rental Income of R35 885 per month, comprising of 3 tenants. 71 Burg Street, has a GLA of 857sqm and is adjacent to the Mandela Rhodes Place development and the new 5-star TAJ hotel, which opens next month across the road from the Company Gardens and the Houses of Parliament.
Rose Farm, 10 Charnwood Avenue, Constantia, Zwaanswyk
This traditional four bedroom country-style homestead is set on two acres of prime land with magnificent mountain and forest views and offers state-of-the-art equestrian facilities. Located in an older, more established area in the Southern Suburbs, this well-designed home is approximately 1050sqm in size and has exceptionally good finishes. Despite being close to many amenities, the proximity of the property to the Tokai Forest Reserve means that a 'country feel' is evident. A swimming pool and lush garden compliment a well-integrated entertainment area.
Kenrock Estate, 20 Eagle Avenue, Hout Bay
This prime property is 8000sqm and is the largest stand in a private estate in the Western Cape. The African-style double story five bedroom home is set on pristine land with mountain and valley views. In addition to the main house, the property offers a three bedroom cottage. Other features include beautiful entertainment facilities, on-site parking for 10 cars and excellent security.
26 Cranko Road, Observatory
A gorgeous restored two bedroom Victorian home in the heart of Observatory, close to UCT and the N2 highway with high ceilings, wooden floors and fireplace. The property also has secure on-site parking and a quaint garden area leading off the lounge and dining room.
