One of the last vacant commercial sites in Century City, a prime, extensive 2.5-hectare N1 fronted lot, is among sixty City of Cape Town-owned land parcels going on auction on the 30th of June.
Every lot released for the City of Cape Town’s 2021 inaugural virtual land auction comprises of vacant erfs located across the city from Atlantis to Brackenfell, Mitchell’s Plain to Macassar.
“The virtual auction commencing at 12:00pm on Wednesday, 30th of June 2021, is the first in a series of land sales High Street Auctions will be conducting on behalf of the City of Cape Town in the months to come and buyer interest is already far exceeding expectations” says Joff van Reenen, Director and Lead Auctioneer of High Street Auctions.
“Registrations for the sale are flooding in for properties across the spectrum. All bidder registrations are currently from within South Africa, with the bulk originating in Cape Town.”
From a commercial perspective, van Reenen says most buyers are focused on Century City, the development sites released in Cape Town’s northern suburbs and the various industrial sites in the Atlantis Special Economic Zone (ASEZ), predicted by Wesgro to attract investment exceeding R3.5 billion over the next two decades.
“The City is releasing nine industrial land parcels in Atlantis, where developers are being incentivised at all levels of government to invest in infrastructure growth and job creation in a region that has already been earmarked as an epicentre of green tech activity”.
“These development sites vary in size to suit business ventures big and small and being within an SEZ means processes to facilitate establishing new ventures within the area are already streamlined.”
Van Reenen says the commercial lot drawing the most national interest from corporates, though, is one of the last and largest office development sites within the Century City lifestyle precinct.
“The 2.5-hectare site could not be in a better location fronting the N1 on Century Boulevard and given the world’s ‘new normal’ there is no better place in Cape Town for a corporate to be considering new office space”.
“The precinct offers the ultimate in live, work, shop and play for families of those who work in the numerous national and international companies headquartered within Century City”.
“There are thousands of families already in residence, one of the largest shopping centres in the southern hemisphere on site, preschools, a primary school and a high school, a nature reserve, sports facilities and entertainment galore – all within secure walking distance of the office”.
“High Street Auctions is expecting a bidding war on the Century City lot, because we will not see another site like this come onto the market again.”
Van Reenen says South Africans keen to live in Cape Town should also be looking at the residential sites being auctioned by the City.
“We will be selling plots all over Cape Town, from Strand right across to Brackenfell. Buying land allows you to build your dream house rather than moving into a design that was someone else’s dream and purchasing land on auction is the fairest and most transparent method of measuring the market on the day. You are guaranteed a fair price.”
The auction will be conducted virtually, with bids being accepted via telephone, Zoom and the High Street app.