DEVELOPMENT OPPORTUNITY IN PRIME STUDENT AREA

 A prime development opportunity in Rosebank in the Southern Suburbs of Cape Town will fall under the ClareMart Auction Group’s hammer when they host their next multiple commercial auction on Wednesday 28 July at noon. According to Director Mike Baigel, the corner property is ideally located and has a scheme approval for nine apartments, subject to the payment of the scrutiny fees.

42 Sawkins Road is located right opposite the Rondebosch Common and currently occupies an old non-functional place of worship. According to Baigel this is a prime opportunity to acquire a 1133 m² erf and build a three storey block of flats in a prime student area. “Rosebank is wedged in between Mowbray and Rondebosch and is similarly home to a number of University students who make use of many blocks of flats in the area. There is an ever increasing demand for student accommodation and the area is popular with students because of its convenient location to the UCT campus, shopping, districts and entertainment hot spots of Rondebosch and Mowbray ” adds Baigel.

The property offers a general residential R5 zoning and the schematic plans and demolition permit have been approved. The relaxation of building lines is also included on the plans. “These plans and documents are available for interested buyers,” says Baigel.

Those interested may view the property at their own leisure and will be auctioned at this month’s multiple commercial auction taking place in the Ball Room of the Mount Nelson Hotel on Wednesday 28 July at 12:30pm. For more information contact the ClareMart Auction Group on 021 425 8822