On 24 July, The High St Auction Co will sell the iconic Kyalami Racetrack in Kyalami, Johannesburg at the fall of the hammer.
On 24 July, The High St Auction Co will sell the iconic Kyalami Racetrack in Kyalami, Johannesburg at the fall of the hammer. Click here to view.
The auction will take place at 12pm at Summer Place on 69 Melville Road in Hyde Park.
Farm Bothasfontein (Kyalami) (Pty) Ltd (in liquidation), formerly AA Kyalami Property Investments (Pty) Ltd is the registered owner of the property.
Johannesburg and Pretoria are linked with both the N1 freeway and the Gautrain. The N1 is just 4km east of the property and the Gautrain Station just 6km east. Both are very easily accessible.
Other main arterials such as Woodmead Drive and Kyalami Road are nearby and provide easy access to the N1, N3 and N14 freeways.
According to the auctioneer company, Kyalami Racetrack is centrally located in the heart of one of the largest growth nodes in Gauteng.
Furthermore, the company notes that there are few other development opportunities which can offer residential, commercial, retail, entertainment and industrial possibilities, all on one piece of land.
The site is approximately 72ha and with correct zoning and approvals in place, one can expect anything up to 360 000 metres of developable park.
It should be noted that the power and water provided to the property are adequate for the current usage but would need to be re-assessed for a re-development of this type, according to High St Auction Co.
The site is approximately 72ha and with correct zoning and approvals in place, one can expect anything up to 360 000 metres of developable park.
Developments within a 5km radius of Kyalami also cover extensive residential, retail and commercial parks.
Notable residential developments within this node include the secure Kyalami Estate, Kyalami Hills and Kyalami Gardens.
The areas of Crowthorne, Blue Hills and Carlsworld with much larger erven homes include Beaulieu , a high-end residential developments, Waterfall Country Estate, Valley Estate and the Waterfall Equestrian Estate.
On retail developments, the auction company says there is the Waterfall Precinct, including the Mall of Africa, while commercial developments include the Waterfall Business Estate and in Barbeque Downs, a small industrial area which borders on Kyalami.
The area also enjoys a huge infrastructural upgrade to the road network, including an upgrade to the Allandale interchange of R800 million, as well as Woodmead Drive, from Maxwell through to Allandale having already been completed.
Kyalami Racetrack started in 1961 and became world famous for its 4.26km F1 racetrack where 21 Grand Prix were held up until 1985.
Kyalami Racetrack started in 1961 and became world famous for its 4.26km F1 racetrack where 21 Grand Prix were held up until 1985.
The circuit was rebuilt in the early 1990s as part of a commercial development upgrade, incorporating Sunset Bend, Clubhouse Corner and the Esses into a tight, twisty, very technical circuit with 13 corners - all but one of them blind - and the steeply plunging Mineshaft Straight, next to Laguna Sega’s infamous Corkscrew, the most intimidating drop in world motorsport racing.
Kyalami has hosted 21 Grand Prix events - most notoriously the 1977 event, which claimed the lives of driver Tom Pryce and race marshal Frederick Jansen van Vuuren - as well as four rounds of the World Superbike series between 1998 and 2002, the South African leg of A1 GP in 2008-2009 and most recently the Superbike championship in 2010.
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