Brand New Student Accommodation Block With Five Retail Shops

OPENING BIDS TO BE ADJUSTED ONE DAY PRIOR TO AUCTION.

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:

This prime GB4 block is situated in the heart of Parow and close to all the colleges in the area and NWC which makes this a prime investment opportunity. Current income ±R130,037.00 per month with a potential of ±R255,000 per month.

RETAIL:

• 5 Shops
• 1 Vacant – (Potential rental ±R10,000 per month)
• Income – ±R41,587.00 per month excluding vacant shop

BACK ENTRANCE:

• 8 Studios (fully let)
• Income – ±R37,050.00 per month
• All units have pre-paid electricity
• Communal kitchen with individual lock cupboards
• Individual private communal showers
• Each person contributes ±R1,000.00 per month for gas/water/WiFi

SIDE ENTRANCE - UPSTAIRS:

• 23 Rooms (18 double and 5 single)
• 10 Rooms rented out – Income ±R51,400.00 per month
• Large terraces (foundation strong enough to build rooms for 20 more students)
• 2 Kitchens with individual lock cupboards
• Male/female toilets
• 4 Individual private communal showers
• 5 Separate private shower with toilet and basin

EXTRAS:

• 1 X 1 Bedroom/lounge kitchen apartment for manager
• 1 X 1 Bedroom/lounge kitchen apartment for maintenance manager
• 170m² Office (can be converted to laundry/lounge or rented out)
• Manager’s office
• CCTV (Camera room)
• 9 Secure parking bays 9 (4 covered)
• Lots of bulk available for expansion (GB4 Zoning)
• Ample off-street parking behind the building

Newly renovated first floor, renovation of the whole building was completed 30 March 2025.

DETAILS:

• Erf No (Extent):  7471, Parow (1370m²)
• Erf No (Extent):  7463, Parow (25m²)
• Rates:  ±R10,800.00 per month
• Zoning:  General Business 4

Web Ref:  740392

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.

Josh Raisun | 078 888 9534 | 021 425 8822 | [email protected]

Ryan Hamburger |082 691 4915 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]