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Live Onsite Auction With Webcast Of Superbly Located Building, Epitomising Affluence In An Idyllic Camps Bay Hotspot, Cape Town, South Africa

Live and Webcast Auction, Started: 27 Feb 2014 2:00 AM PST

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By order of the owner
Live onsite auction with webcast of superbly located building, epitomising affluence in an idyllic Camps Bay hotspot, Cape Town, South Africa
Featuring:
Camps Bay’s hot spot under the hammer

General description

This exquisite piece of real estate boasts a blue-chip 5 year lease in place, currently tenanted by the very well-known Café Caprice Restaurant which has been operating on this site for 15 years and is an essential destination for all international visitors and local residents. The erf is zoned General Business 1, measures 481m² in extent and comprises two storeys which are currently utilised as a Bar/Restaurant (ground floor) and Offices (first floor). This property is the ultimate acquisition for the long term investor seeking serious cash flow and stable capital appreciation in arguably South Africa's most inelastic capital appreciation climate.

Locality

Situated on South Africa’s most sought-after and famous beach front: Camps Bay! The Boulevard of Camps Bay is a hive of activity on a daily basis - the place to be for all affluent business persons. Celebrities, trendy folk and business people from all walks of life are often seen relaxing on the pavements drinking, eating and watching the legendary golden sunsets.

In terms of the property song, this property hits all the notes: location, location, location. The subject property is surrounded by properties that exude opulence to the highest order including The Bay Hotel, The Grand and Camps Bay Promenade to name a few.

The picture perfect Camps Bay beach is internationally renowned and has 4-5 star ratings around the world. With its long stretches of white sand, palm trees and pristine look, Camps Bay Beach is said to be one of the “sexiest beaches in sexy Cape Town”.

Executive summary
  • Erf 193, Camps Bay
  • 37 – 39 Victoria Road, Camps Bay
  • Erf measuring: 476m²
  • Zoning: General Business 1

Auction notes:
This sale may be subject to Transfer Duty
Notice to purchasers:
Buyers premium: 6%   Deposit of 10% and Buyer's Premium of 6% plus VAT immediately after the sale, balance of the purchase price on registration of transfer
VAT/Tax: 14%
Inspection details: To view property; please contact Kim Faclier
Payment type: Wire Transfer
Additional notes: This auction is governed by the Consumer Protection Act – Act 68 of 2008 (South Africa), and further reference to the Act and the regulations can be downloaded here.
http://www.info.gov.za/view/DownloadFileAction?id=99961
http://www.info.gov.za/view/DownloadFileAction?id=145412

The Bidders attention is drawn to the following:
  • The Rules of Auction can be found under the downloadable documents tab
  • The property will be sold “Voetstoots” and on “AS IS – WHERE IS” condition. It is the buyer’s responsibility to perform an inspection of the property prior to the auction.
  • The Sale of the Property is non-suspensive and not subject to any feasibility or any other condition required by the buyer.
The Sale by auction is subject to:
  • A reserve or upset price
  • All prospective bidders must register prior to the auction and such registration requires proof of identity and residence (FICA) as contemplated in regulation 26;
  • R10 000 refundable deposit may be payable by a bank guaranteed cheque or Electronic Fund Transfer (EFT). Kindly provide proof of deposit.
  • The auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of third parties
  • The Auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of seller but, if on behalf of the seller, not at or in excess of the reserve price
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Currency: South Africa Rand
Auctioneer: GoIndustry DoveBid S.A. (Pty) Ltd.
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Downloadable Documents
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Event Information
Location: 37 Victoria Road, Camps Bay
Started: 27 Feb 2014 2:00 AM PST

Contact Details
Contact: Kim Faclier
Telephone: +27 21 702 3206
Shipping Information
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