Commercial Property for auction in Ravensmead, Parow

COMMERCIAL PROPERTY USED AS A LIGHT MANUFACTURING WORKSHOP.

Going on Auction: Wednesday 22 May 2024
Reserve Price: R450 000.00 (All offers will be reviewed)
Non-refundable 10% commission plus VAT over and above the purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)  

This single storey, ground floor property has huge potential for upgrading and renovations. Currently this spacious property is used as a light manufacturing workshop but in the past, it was used as a retail store, a games and pool arcade, a place of worship and a function venue. It consists of 1 main open plan floor area; 1 toilet; 1 kitchenette; 1 courtyard; 1 smaller storeroom/work area and parking for approx. 6 cars. Situated in the populous Ravensmead residential area, it has good volumes of passing foot and vehicular traffic. The property is sold voetstoots and the onus is on the buyer to do the necessary repairs including the roof leaks. Vacant on transfer. Potential rental income R4000 to R5000 per month.

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. The Seller reserves the right to consider all offers.