The property’s central location, the leases already in place and the low overheads have resulted in a 9% annual net yield
A commercial building, with three tenants already in place and situated on busy Vootrekker Road in central Maitland, will be among the investment properties to be auctioned by Rawson Auctions Western Cape on May 30.
“Voortrekker Road is lined with commercial businesses, mainly relating to the light industrial and DIY sectors, auto parts or repairs, and supplies of building materials and similar products or services,” says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape.
Found at 274 Voortrekker Road, the commercial property stands on an erf of about 920m2, but the gross lettable area is significantly higher at about 1200m2, Jovanovski says.
“The existing tenants have medium-term leases in place.”
Jovanovski says Maitland offers direct access to the N1 and N2 motorways, and is also close to the M3 or M5 freeways.
“This gives businesses quick access to any delivery route in any direction within Cape Town,” she says.
The property’s central location, the leases already in place and the low overheads have resulted in a 9% annual net yield, says Jovanovski.
The property will be auctioned at noon on May 30 at the Rawson Property Group head office at 222 Main Road, Rondebosch. All offers from R9million will be considered.
No registration fee is required to bid with Rawson Auctions. 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 to Rawson Auctions 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, with its standard terms and conditions. A copy can be obtained by contacting the Rawson Auction Western Cape office on email@example.com or 0218371700.
Bids can be delivered to Rawson Property Group’s Rondebosch head office.
For more details or to book an appointment to view the property, call Richard Burgess on 0764232940 or Tanya Jovanovski on 0218371700.