Areas and Places Property Auctions

Four mixed-use Wynberg properties prime for residential development going on auction

A street view of the mixed-use properties which will be going under the hammer on 25th August 2021.

Four mixed-use properties, with a combined erf size of approximately 1 000m2 will be going on auction and sold as one lot on the 25th of August 2021. The properties are neighbouring erven, of which two face Main Road and two face Erbor Road in Wynberg, Cape Town.

The properties are ideal to be demolished and developed into a block of flats, with commercial components on the ground floor which would take advantage of the high foot traffic from Main Road.

The first property, one of the two facing Main Road, is a 212m2 double storey building with two shops downstairs and residential rooms on the floor above. The second property on Main Road is also a double storey (258m2) with a large commercial shop on the ground floor and eights rooms and bathrooms upstairs.

The two properties facing Erbor Road are 257m2 and 258m2 respectively. The smaller erf has been subdivided into rooms and bathrooms with the larger double storey property improved by a church on the first floor and rooms and bathrooms on the ground floor.

Given the location, in the heart of Wynberg, the properties are on the doorstep of all necessary amenities (including the Magistrates Court) and places of entertainment and leisure such as the Maynardville Park and various pubs and restaurants. Constantia, Kenilworth, and Claremont are all within a short drive as well as numerous colleges and schools, including Wynberg Boys and Girls. The Main Road also provides for easy access to public transport.

There are no leases in place for the properties and on transfer, the onus is on the new owner to meet with each tenant one on one to determine status. If anyone objects to signing a new lease, the onus is on the purchaser to evict the tenants. Additionally, any outstanding rates and taxes are to be paid by the buyer and will be deducted from the purchase price.

The properties will be sold as voetstoots, and the seller gives no warranties with all obligations falling on the purchaser.

The properties are in a need of a little TLC, and they are not taking advantage of their great relative position to each other. This further advocates for their demolition and the development of a single mixed commercial and residential project that takes advantage of the prime location along Main Road in Wynberg. Alternatively, the buyer could leave them as is and renegotiate new leases with the current tenants, and generate passive income that way,” notes Tanya Jovanovski, Franchisee of Rawson Auctions in Western Cape. 

The reserve price for the property will be P.O.A (price on application). However, all offers will be reviewed.

The property will be going on auction on the 25th of August 2021 at 12:00pm through Rawson Auctions.