As part of major property portfolio disposal, ClareMart will on September 25 at 12.30pm auction a fully tenanted shopping mall in Grabouw in the Overberg, as well as a multi-level office/retail block in Athlone on the Cape Flats.
On offer will be Marsh Rose Mall in Grabouw, 65km from Cape Town in the commercial epicentre of the fruit-producing Elgin Valley.
Grabouw has undergone extensive infrastructure upgrades over the last decade, resulting in both population and economic growth.
Marsh Rose Mall, which has high visibility on the N2, is fully let to national retail tenants and yields an annual rental income of R6.7million. The complex serves local communities and travellers on the N2 as its fuel station is a convenient stop for motorists. The gross lettable area is more than 14000m² on 7 hectares of land.
“The development potential is massive and, to cope with the rate of the Overberg’s growth, further development is likely to be needed soon,” says ClareMart director Andrew Koch.
The office/retail block in Athlone to be auctioned on September 25 is at 94 Old Klipfontein Road in a prime location on a busy public transport route. It has an GLA of 5779m² and yields annual rental income of roughly R3.5m from national tenants.
“The demand for good retail/office space in this area is constantly increasing and, with its central location and high visibility, there won’t be a shortage of tenants in this space,” Koch says.
The two properties will be auctioned at the Hellenic Community Centre, 24 Bay Road in Mouille Point. For more details, email Koch at email@example.com, call 0824949631 or see www.claremart.co.za. – Auctions Writer