Renovator's Dream - Massive Multi-let Property

ONLINE AUCTION

Bidding Start Time: Wednesday 28 May 2025 @ 09:00

Bidding End Time: Thursday 29 May 2025 @ 14:30

Registration is essential by Monday 26 May 2025.

Pre-Auction Offers may be considered.  Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Pre-Auction Offers Welcomed.

This is the goldmine you've been searching for! Situated in the most convenient and central pocket of Wynberg, this high exposure site can be found with the ideal potential for you to redevelop or invest in. Currently consisting of 3 dwellings, double garage, and a combined erf size of 1102m², the opportunities are endless.

Located on Ottery Road, within walking distance of primary and secondary schools as well as major transport routes and hubs with high exposure and footfall. This site has dual access from the main road as well as a private cul-de-sac, perfectly catered for investment or redevelopment focusing on workshops, residential and/or office. Due to demand in the area, high rental returns can be achieved through conversion into student accommodation/house sharing or multi-let units. Commercially, potential use case could be for mechanics/car showroom, storage, professional suites (i.e attorneys, medical practitioners, school/creche, etc).

As part of a deceased estate, the entire property holds Single Residential 1 zoning and has been used for primary residence for years. Main house has 4 bedrooms with 2 bathrooms, kitchen & scullery, dining room, lounge and sun-room. 2 x Outbuildings used as rental flatlets with 4 and 2 rooms respectively, in addition to kitchenettes and outside bathroom. Ample parking secured in yard space onsite. As such, it requires the perfect renovators touch from a large family looking to expand or upgrade their home. Please note that no vacant occupation is guaranteed at this stage.

For the developers out there, clear out this massive plot and undergo subdivision for redevelopment into townhouses or semi-detaches. Note: Heritage may apply to main dwelling. Alternatively, utilize the precedent set in the area and apply for rezoning to General Business or General Residential, then build your ideal block of flats or secured complex. In-house development & funding services are available.

VIEWING: Not Available at moment

Contact Sachin

DETAILS:

• Erf No:  69592, Cape Town
• Erf Size:  1,101m²
• Rates:  ±R953.59 per month
• Zoning:  Single Residential 1

Web Ref:  740310

Transfer Duty Applicable

PAYMENT TERMS:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Sachin Boyjoonauth | 068 259 2425 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]