This property is the last opportunity for the development of a prestigious apartment block on Port Elizabeth's most sought after beachfront, and it goes on Auction on 13 September. The dwelling is situated on an erf measuring 1665 square meters which is currently zoned RES3E.
The neighboring apartment blocks The Seagull and Barkley Court are the most popular blocks on the Summerstrand beachfront both enjoying uninterrupted views over the popular Hobie Beach and the bay itself.
According to a recent feasibility study this property allows for a 11-storey apartment block, which can be designed to maximize the sea views. The property known as Rothesay House has been owned by the Frank Redfern Will Trust for more than 50 years and has generated interest among developers wanting to convert the site into an apartment block.
With the high demand from local national and international buyers to acquire such luxury apartments, developers will be seeking to take up the unique opportunity and keen bidding is expected, with bids in excess of between R12 - R16 million or more.
The property is going under the gavel by Auction Alliance on Wednesday 13 September 2006 at 12H00 at the Beach Hotel.
For more information contact 0828810880 or mbosch@auctionalliance.com..
Readers' Comments
Have a comment or question about this article? Email us now..
What's your home worth?
Want to know what the average home price is in your area? Visit PropertySPI and get the latest report on transfers and price movements in your street, suburb or sectional title scheme.
Print
