Chance to buy Gordon’s Bay light industrial units without reserve
The upcoming auction of five relatively small light industrial units in Gordon’s Bay is expected to attract strong interest from investors who want to start or grow their property portfolios.
The units are situated in a U-shaped building that occupies two stands in the Mini Factories complex in Link Road, says Dan van Zyl, owner and auctioneer at Ikaya Properties.
The first two properties that will be sold are Units 1 and 3 on Erf 3500, and are positioned on the left side of the building.
The remaining unit on that side (Unit 2) will not be up for auction.
Units 1 and 3 measure 125m² respectively, and will be sold as separate lots as they are sectional-title properties, says Van Zyl.
The remaining three units on offer are not sectional-title properties and will be sold as one lot. They are situated on the opposite side of the building on Erf 3501 which covers a total area of 610m², Van Zyl says. The units themselves measure 150m², 125m² and 125m² respectively.
Each of the five units on offer comprises a work area, an office and a toilet.
The units have all recently been renovated and have very low maintenance costs.
Van Zyl says the properties are well located in a light industrial zone, on the mountain side of the Sir Lowry’s Pass Road.
He believes the auction will offer a rare chance for investors to acquire the units at an excellent price.
“The properties will be sold without reserve, but the sales must be approved by the seller. The buyers will not be responsible for any outstanding tax or municipal accounts as these will be settled up until the date of registration.
“The units are situated in an area with a high demand for rental properties, and there are existing rental agreements on four of them.”
Van Zyl says similar units in the area are used for a variety of purposes, including storage or trade, repair shops, panel-beating and motor mechanical businesses and cafés.
The auction is scheduled for 11am on Tuesday at Gordon’s Bay Mini Factories, 6 and 8 Link Road. The units can be viewed from 10am on the day of the auction.
Registration of buyers will begin at 10am on the auction day. No registration fee is payable. However, each potential bidder will be required to provide a copy of their identity document and proof of their address.
The conditions of sale require payment of a 10% deposit plus the auctioneer’s commission on the day of the auction by means of an EFT or as previously arranged with the auctioneer.
For more details photographs and directions to the auction site, call Dan van Zyl on 0824583867 or 0218543711.