KEEPING YOUR FINGER ON THE PULSE OF THE PROPERTY MARKET

City of Cape Town prime development land under the hammer

ClareMart Auction Group recently disposed of 16 development properties, on instruction from the City of Cape Town, at a public auction attended by over 300 people. The City was delighted with the result, and subsequently re-instructed ClareMart to dispose of another fine selection of development land. 

This time the selection includes a 1850m² erf zoned for General Business 2, in Howard Drive, Pinelands, as well as a large tract of land with development potential, spanning 7412m² in Brackenfell. Pinelands is well established and the likelihood of finding development land of this size and zoning rights again, are highly improbable. Other areas include Athlone, Goodwood, Gugulethu, Parow and Scottsdene. In total, the properties are worth well over R30 million. Property value on the Cape Flats has increased way beyond expectations and the demand continues to grow. 

“More government departments are seeing the value of the auction mechanism and consequently are taking their assets to auction. These properties, when developed, could yield significant rental income, or could be sold off in separate sections. Developers and investors are constantly making enquiries at our offices and we look forward to seeing a full house of qualified cash buyers at this auction,” said Andrew Koch, ClareMart General Executive Director. 

Don’t miss this exciting auction by the ClareMart Auction Group at the One&Only Hotel, Dock Road at Cape Town’s V&A Waterfront on Tuesday 19 April 2017at 12h00. A 10% deposit and 3% auctioneer’s commission (excluding VAT on commission) will be payable on the fall of the hammer. The balance is payable on registration of transfer. 

For more information, contact Andrew Koch on andrew@claremart.co.za, 021 425 8822 or 082 494 9631 and visit www.claremart.co.za