Boland Commercial Property Auction

With the current trend towards decentralization, the Western Cape's Boland is the next region worth looking at for investors in the commercial and industrial sector.

"There has always been a strong residential market in towns like Paarl and Stellenbosch," , says Jonathan Smiedt, CEO for the ClareMart Auction Group, "but investors are now looking at the commercial and industrial sector of the Boland property market and realising the huge potential in the area."

With the CBD and surrounding areas in Cape Town becoming more congested, investors are moving into the Boland where there are still great development opportunities. A trend is the decentralization in the commercial and industrial sector, with towns like Paarl seeing rapid growth and capital investment. Smiedt explains the current trend of investors favouring commercial property: "Firstly one has seen investors moving from residential property to commercial property. This is a natural process as after a residential property boom one usually sees a commercial property boom in the same area. The smart money will now definitely move towards commercial property where opportunities still exist for investors to acquire and develop property."

The group's Boland division has been active since it's inception in early 1995 but instructions received by this division has increased dramatically in the past few months. This is reflected in the portfolio of commercial, investment and industrial property that ClareMart will put on auction at the end of the month at its monthly multiple auction, where two Boland investment opportunities will be on offer.

At 166 Main Road, Paarl, the fully-tenanted Omnipark building comprising retail and office space is a rare investment opportunity. The property offers an excellent position and exposure with national restaurant tenants attracting great trade. The modern building boasts ample off street parking which is rare on this busy road.

In neighbouring Wellington, a massive 2.26 hectare industrial site is also on auction. The property in Marchand Street comprises 3500m² warehousing with 500m² offices and will be sold with vacant occupation. According to the auctioneer the building is ideal for a transport company.

These and other properties will be auctioned on Wednesday 29 November 2006 at noon at the next ClareMart multiple commercial property auction at the Mount Nelson Hotel.

Get commercial property news by email

Free alerts when we publish — pick a focus or get everything, unsubscribe in one click. Subscribe »