On 19 June, Rawson Auctions will hold a massive residential and commercial property auction at 2pm at 222 Main Road, Rondebosch in Cape Town.
This three storey family home in Paarl will be auctioned on 19 June.
Some of the properties include a three storey family home in Paarl.
According to the auctioneers, the ground floor has to be fitted out and finished and the sellers are leaving this to the buyer.
The first floor comprises four incomplete bedrooms currently used as storerooms while the second floor is fully complete with dining and living areas and the third floor has three en suite bedrooms.
It also has staff quarters, laundry and ironing room, also incomplete and the municipal rates on the home are approximately R1 800 per month.
“Although not 100 percent complete, this home is ready for occupation right now and is about as a good property as is possible to get in Paarl today,” says Tanya Jovanovski, franchise principal for Rawson Auctions in the Western Cape.
Jovanovski points out that Paarl is one of the few towns in South Africa in which the prices have risen continually for the last 13 years.
The town simply bucked the downward trend and ignored the recession.
Located in Hope Street in the Cape Town CBD, the unit at Lynwol Flats complex is being rented for R4 000 per month.
For this and other reasons, any property buy in the area is a good investment: prices are continuing to appreciate month-by-month and demand for accommodation in the town remains very strong, she says.
In the Cape Town CBD, a one bedroom flat measuring 57 square metres has a reserve price of R280 000, it is being rented for R4 000 per month.
Located in Hope Street, the unit at Lynwol Flats complex will be vacant on transfer.
In Salt River, a bakery located in Coleridge Road makes for a potentially profitable redevelopment opportunity.
Jovanovski says the 137 square metre triple storey building was gutted by fire which caused damage to the inside of the building as well as the roof, which will need to be replaced.
The building is ready for one of those enterprising makeovers that have given new life to at least 20 nearby complexes in Salt River, a suburb now experiencing a genuine renaissance and a huge upswing in demand.
“Such an upgrade could be financially viable because in its present condition the building could be sold for under R1 million and the reserve price, is in fact only R700 000.”
She says although currently zoned for commercial use, the building could also be given a residential component – as have several other buildings in the area. It would also be ideal as an office or a shop.
Addison House, a fully-let commercial building in Salt River has a combined rental income of R94 420 per month.
A fully-let two storey commercial building located in Albert Road in Salt River will be auctioned.
The property known as Addison House with 17 parking bays is situated within the urban development zone and popular trading area.
It is zoned for general business use and the building currently has 28 retail tenants, half of whom are on monthly renewable leases and all of the longer rentals have 10 percent annual escalation clauses.
The combined rental income from the complex at the moment is R94 420 per month and the reserve on this building is R7.5 million, she says.
Jovanovski says the maintenance and running expenses on this building are very low which ensures great returns.
“Salt River is now very much ‘in’ and is an integral part of the city’s southern peripheral business fringe and many businesses have seen rapidly improving turnovers over the last five years.”
A mixed-use complex situated on 45 Belgravia Road in Athlone measuring 773 square metres which includes retail, offices, a workshop and apartments will be auctioned on 19 June.
A mixed-use complex situated on 45 Belgravia Road in Athlone measuring 773 square metres which includes retail, offices, a workshop and apartments will be auctioned.
According to Jovanovski, one of the big attractions of this building is that it has secure parking bays. Since 1 April, new municipal legislation has made it mandatory to have such parking attached to any building in this area.
A former 700 seat cinema complex located at 105 Drakenstein Road in Paarl known as The Planet will be auctioned on 19 June.
Since ceasing to screen films it has been rented by a church, a superette, a hair salon and a video shop.
Together these have been bringing in a rent of R20 700 per month and the church and the superette both have three year leases still running, while the other tenants are on three month leases.
A first floor office area previously rented for R4 500 per month is now vacant.
Jovanovski says the building has huge potential and it could be used as a mini-market, a gymnasium, workshops or a training facility.
The seller had plans (not yet approved however) to extend the building by a further three storeys, making it a six storey complex in all, with 36 new apartments in the top three floors.
She says this could be a very profitable move because demand for rental accommodation in Paarl is very strong currently.
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