Mix of commercial and residential Stanford property an ‘investor’s dream’
A Stanford property combining commercial and residential space will be offered on auction by Rawson Auctions Western Cape on August 5.
Stanford is a small riverside village in the Overberg, about 15km east of Hermanus and 20km north-east of Gansbaai.
The property, in Queen Victoria Street on a 991m² plot, has recently been rezoned to commercial/residential and has three shops, two offices, a salon and two flats.
Tanya Jovanovski, the regional franchisee for Rawson, says the property’s possible uses are limitless and include a restaurant, deli, art gallery, medical centre, garden shop, bric-a-brac outlet and furniture store.
“The current tenants are an architect, estate agency, beautician, clothing shop, art and gifts store and a book shop.
“The property’s diverse offering lends itself to easy letting: there are no fewer than 17 rooms and parking for 10 vehicles and, because many of the rooms are interleading, the building’s configuration is even more versatile,” says Jovanovski.
“To add more value to the property, plans (available on request) have been drawn up and explored for sectionalising the property to two or three separate titles.
“The upgrade of the R43 road will allow easier access to Stanford and the rejuvenation of the town square makes the property even more attractive. It’s an investor’s dream.”
Residentially, the first flat comprises one bedroom; a bathroom; galley kitchen; an open-plan lounge/office and dining room and a patio which forms part of the main building. It generates R6 000 a month in rental income.
The second flat is smaller with one bedroom, a bathroom and open-plan lounge and kitchen. This flat brings in R3 500 a month.
Outside, at the rear of the property, is a garden, a braai and two carports. The property is fitted with alarm systems, burglar bars and CCTV cameras at the front and back.
Jovanovski says if the entire property was to be rented out, a monthly income of R32 000 is achievable with rental escalation for all the units at 7% a year.
The property will be knocked down online on Wednesday at noon with a reserve price of R3.4 million but all offers will be considered.
For more information, contact Hans Buys at 082 964 6852 or Tanya Jovanovski at firstname.lastname@example.org or at either 082 411 9599 or 079 980 3457.
Rawson’s has a new online bidding platform with registration needed at www.instantproperty.co.za which has auction terms and other requirements.
Registration, ID and Fica documents must be emailed to email@example.com, and offers submitted on Rawson documentation, available online, or via email at firstname.lastname@example.org or at 079 980 3457.
The front and rear views of the residential and commercial property in Stanford on offer from Rawson on August 5.