A distinctive office block on Somerset Road in Green Point will go under the hammer on June 11.
Auctioneer Dan van Zyl expects the building, which he describes as “a developer’s dream”, will be sought after because of the popularity of the area.
“Green Point is a popular leisure district,” he says. “It is known as ‘the Soho of Cape Town’, thanks to its night life, great restaurants and amazing coffee shops.”
The area has seen many conversions from old semi-industrial buildings to residential accommodation and retail facilities.
“The retail component specifically caters for the tourism industry and, in my view, investors will be able to benefit from all this by redeveloping the site on offer.”
Somerset Road feeds straight out of the city.
The two-storey building is about 80 years old and in an area with mixed-use zoning.
“It consists of 20 offices, two conference rooms, three ablution facilities, a reception area, a lobby, a corridor, a huge balcony, four kitchens, two filing rooms, a prayer room and a laundry.”
The property includes a cottage which has a reception area, an office, a kitchen, a storeroom and two attic offices.
In addition, it offers workers’ accommodation and 24 parking bays.
The size of the erf is 1671m² and the improvements measure about 1440m².
The auction will take place on site at 37A Somerset Road, Green Point, at 11am on June 11.
Potential bidders are required to bring their Fica documents to register to bid. Registration will start at 10am on the day of the auction. No registration fee will be payable.
Viewing is by appointment with the auctioneer. The conditions of sale include a 10% deposit plus auctioneer’s commission on the fall of the hammer.
For more details, call Dan van Zyl on 0824583867or email [email protected]