ClareMart’s auction hammer will soon fall on a three-storey commercial/residential complex in the heart of Mowbray, close to public transport and major highways, and ideal for student accommodation’s sustained yields.
The property, at 9 Queens Street, comprises four retail outlets, with leases in place, as well as two bachelor, two one-bedroom and four two-bedroom flats.
“The flats all have one-year leases in place and with the high demand for rental accommodation in this area from students and professionals, there is never likely to be a shortage of tenants. Off-street secure parking further increases the appeal of the properties zoned ‘General Business 1 and 2’,” says Mike Baigel, ClareMart Group auction executive.
“Mowbray is a stone’s throw from the Cape Town CBD, with easy access to the N2 freeway. Proximity to the University of Cape Town and Cape Peninsula University of Technology make this a haven for student accommodation.”
The complex, on show on Wednesday from noon to 2pm, is part of ClareMart’s multi-property auction at the Hellenic Community Centre, 24 Bay Road, Mouille Point, on October 30 at 12.30pm. For more details, email Baigel at [email protected] or call 0829269479 or see www.claremart.co.za.