Bordering the Foreshore, 130 Sir Lowry Road is an exceptionally large site, at 5849m², on the periphery of Cape Town’s City Bowl with extraordinary development potential. The property, home to Dart Motors since the 1970’s, has been on the radar of many property developers for some time due to its large size and prime position. 130 Sir Lowry Road in Woodstock will be a highlight of ClareMart Auction Group’s upcoming Multiple Commercial Auction which will be held at The One & Only Hotel at the V&A Waterfront on the 24th of April.
“A property of this size, in this extraordinary position, offering so much development potential is exceptionally rare in the Cape Town CBD area,” says Victor Strydom, ClareMart’s Senior Auction Agent. “Of course, many developers are well-aware of it and have done their calculations on the immense potential. We expect this to be a successful auction that reveals actual market value.”
Strydom points out that with Mixed Use 2 zoning, 130 Sir Lowry Road is ideal for multi-purpose use with retail, business, residential and mixed-use potential. “The property is a developers dream,” he says, “There are quiet side streets but easy access to the N2. Any development can optimise on stunning, uninterrupted views of Table Mountain.”
Currently, 130 Sir Lowry Road has two tenants with leases that include a 15-month cancellation clause in the case of future development. “One tenant is the property owner of Dart Motors, and the other is the popular Build It Woodstock franchise outlet,” Strydom explains, “The buyer will have the advantage of steady rental income while future plans are developed and approved.”
At almost 6000m², 130 Sir Lowry Road offers immense opportunity when it comes to the potential of total floor area and development bulk. Viewings are by appointment. The property will be auctioned at 12h30 on Tuesday the 24th of April 2017 at the One & Only Hotel, Dock Road, V&A Waterfront in Cape Town. For further information, contact Victor Strydom on 083 478 7579 or 021 425 8822. Email email@example.com and visit www.claremart.co.za