A dozen prime Western Cape properties, including a highly desirable Cape Town CBD commercial space, another in Claremont’s CBD, a building two minutes’ walk from the ocean in Sea Point and one of the Atlantic Seaboard’s most spectacular mansions are going on auction this month.
High Street Auctions Lead Auctioneer and Director, Joff van Reenen, says he has rarely, if ever, seen such a first-class collection of Cape properties coming to market at the same time.
Eight of the properties are situated within the Cape Town metro, two are in the Winelands, one in Eland’s Bay up the West Coast and the final Western Cape lot is in the millionaire’s playground of Plettenberg Bay.
“A showpiece among our Cape sale lots this month is a designer mansion perched high on the slopes of Lion’s Head in Fresnaye. Head Road has been one of the most exclusive and expensive residential streets in South Africa for decades, and this property is one of the best on the street,” says Van Reenen.
“The residence is four storeys of angled architecture and curved glass that offers a 360-degree outlook and one of the most spectacular ocean views in Cape Town. Expansive double-volume entertainment spaces create an easy indoor-outdoor flow, while four bedrooms and four bathrooms complete the upstairs spaces. The master suite also includes a kitchenette and living room.”
Van Reenen says properties being offered in two of Cape Town’s busiest CBDs are also attracting significant buyer interest.
“According to Sapoa’s October 2018 Office Vacancy Report, the Cape Town metro continues to have the lowest overall office vacancy rate among South Africa’s five major metros at 7.2%. It’s simple supply and demand - while there is high demand there will be buyers interested in investing in commercial property in prime locations to cater to this market,” he says.
“An investment opportunity in the Cape Town CBD and another just one block away from Cavendish Square on Main Road in the heart of Claremont’s CBD are therefore seeing brisk pre-registration by bidders, as is a third property a block away from the Cape Town CBD boundary in Gardens.”
The Cape Town CBD, adjacent Gardens and Claremont properties are:
- Unit One on Buiten, corner of Buitensingel and Jamieson Street, which is a flexible 159sqm retail or office space with exposure onto one of the main routes into the CBD from the N2 and the Southern Suburbs via Philip Kgosana (formerly De Waal) Drive.
- The stunning building at 60 New Church Road is just a block beyond the border of Cape Town’s CBD. It includes a large gallery space with trussed ceilings as well as modern industrial-feel commercial offices. The building with a GLA of 1 342sqm is on the main arterial up to Table Mountain and offers plenty of on-site parking.
- 176 Main Road is in the heart of Claremont’s bustling CBD. The building, which already had plans drawn up for redevelopment, offers vacant occupation and a GLA of 329sqm incorporating retail and commercial office space.
Van Reenen says among the most valuable real estate investments for developers are unrenovated properties in up-and-coming business hubs in Cape Town.
“Two areas in particular, Sea Point and Woodstock, have for some years now been attracting capital investment running to hundreds of millions and unrenovated properties are highly desirable,” he says.
“The suburbs are increasingly mixed-use with substantial residential sectors, burgeoning retail to service residents and commercial spaces to cater to the trend of a one-stop live, work, play lifestyle.”
The elegant old double-storey house at 6 Kloof Road in Sea Point, just a few steps away from Regent Road and a block from the Promenade, is prime redevelopment property, says Van Reenen.
“It sits on an erf of 466sqm and is zoned General Business 5. Its location makes this building ideal to become a boutique hotel, a high-end events venue or perhaps even an upscale clinic. Buildings like this are rare finds, so bidding will be spirited.”
Van Reenen says Woodstock has also undergone massive transformation, earning a reputation as Cape Town’s design and foodie hub.
“We’ve just sold the Shoprite Centre in Victoria Road, and we’re now selling a building directly opposite. 200 Victoria Road has a GLA of around 790sqm and currently comprises retail on the ground floor, with the two floors above converted into modern student apartments. It’s also zoned GB5, and there are no heritage restrictions.”
Other Cape lots on offer include:
- A 2 033sqm photo-voltaic manufacturing facility in Stellenbosch.
- A 79sqm open-plan two bedroom apartment in vibrant De Waterkant adjacent to Cape Town’s CBD, with spectacular mountain views and a balcony.
- A vacant stand of nearly 5 000sqm with stunning mountain views on the secure Winelands Estate in Stellenbosch.
- A 1 001sqm vacant stand with expansive sea views in the Whale Rock Heights Estate in Plettenberg Bay.
- A mixed-use residential and commercial building (GLA 220sqm) with liquor licence close to the beach at Elands Bay.
Van Reenen says the auction on 29 November, when 11 of the Cape properties go under the hammer, will be one HSA’s largest ever by volume and stock value.
“We will be running dual sales rooms - a virtual floor at the Mount Nelson Hotel in Cape Town, which will link up with our main floor at Summer Place in Johannesburg.”
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