Mixed Use for auction in Observatory, Cape Town
Web Ref: 1077592
Commercial/ Mixed use on Main Road, Observatory.
Going on Auction: Wednesday 25 November 2020
Reserve Price: R4 500 000.00 (All offers will be reviewed)
Expected opening bid: R3 800 000.00
Non-refundable 10% commission plus VAT over and above purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)
Fully let with high visibility. All leases are due to be renewed in November 2020 with an escalation of 5%. The property is ideal for student accommodation. Currently let by students and staff from the medical arena as it is directly opposite the Groote Schuur Hospital.
Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A "Reserve Price" is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property's market value, nor the amount the property is likely to be sold for on the day of the auction.
Monthly repayments will be calculating…
*based on purchase price at Prime over 20 years
Our goal is to sell your property at the right price and in the shortest possible time.