The unit on offer - Number 1203 - has a floor area of 114m², and is spacious, modern and fully furnished.
Potential buyers will in October have an opportunity to purchase a two-bedroomed unit in the five-star Taj Hotel, which is at the entrance to St George’s Mall in central Cape Town.
“The property could function as an income generator. It attracted a revenue of R1.1million during 2016 and 2017,” says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape, which will sell the unit on silent auction.
The unit on offer – Number 1203 – has a floor area of 114m², and is spacious, modern and fully furnished.
It comprises two bedrooms, two bathrooms, an open-plan lounge and dining room, a kitchen fitted with major appliances, balconies off the lounge and both bedrooms, wi-fi, air-conditioning and under-floor heating.
Jovanovski says the Taj has a revenue-sharing model whereby the buyer can “hand over” the apartment for letting as part of the hotel inventory. The owner receives 70% of the rental income.
“The daily rate that could be achieved for this unit – taking the season into account – is between R3000 and R5000,” she says.
The auction will be held at noon on November 29. The reserve price is R7 million, but all offers will be considered.
No registration fee is required to bid . However, the buyer will be expected to pay a deposit of 5% of the purchase price, as well as 10% commission plus VAT over and above the purchase price on the seller’s acceptance of the bid. Bidders are required to be registered and must have with them certified copies of their identity documents and proof of residence.
All offers must be submitted on Rawson Auctions’ Offer to Purchase form. A copy can be obtained by contacting email@example.com or 0218371700. Bids can be delivered to the Rawson Property Group at 222 Main Road, Rondebosch.
For details or to book an appointment to view, call Josh Raisun on 0788889534 or Jovanovski on 0218371700.
Weekend Argus Auctions