Rawson Auctions Western Cape will bring to auction a 3394m² plot of vacant land, with plans in the process of being approved for the development of a 45-unit block of flats in George.
The erf is situated on the main road with excellent access to all amenities, says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.
Each of the units in the proposed development will have two bedrooms and a floor area of 45m² and come with a stove, microwave and fridge.
“The estimated resale value of each flat will be about R520000 and the resale value of the entire block, once complete, is estimated to be between R13million and R15m,” she says.
“The proposed building has been designed in such a way as to offer low maintenance costs and long-term sustainability.”
Semigration into George from towns and cities around the country is now conservatively estimated to be just under 50 families a month.
This is a significant number, which is being seen to have a real effect on the property market, she says.
“The main driving force behind the high number of families moving into George is the relative safety, stability and high quality of life the city offers.
“Demand for residential property in George is expected to grow.”
The property will be auctioned at noon on August 10 at the Rawson Property Group’s head office at 222 Main Road, Rondebosch.
For more details, call Tony Bredenkamp at 0836026113 or Tanya Jovanovski at 0824119599, or email [email protected].