Describing this, her latest offering, as an ‘excellent investment opportunity’, Tanya Jovanovski (co-franchisee with Victor Schonborn) of Rawson Auctions in the Western Cape, announced this week that she would on 10th April be auctioning, on site, a home opposite Wynberg High School. And this property has no less than four separate components altogether, as well as some ancillary items.
It is, therefore, in Jovanovski’s view, “absolutely perfect for an investor looking for a property in a high demand area where rents are set to escalate very satisfactorily, year-on-year.”
The components of the property are:
A three-bedroomed home in a Cape vernacular cottage style, with a large kitchen and front living room. The kitchen has a built-in bar counter table. This section of the property also has ample ground and parking space, as well as an enclosed carport for three cars;
A two-bedroomed flat, with a toilet, living room and a small kitchenette;
A one-bedroomed flat with a small kitchen and an outside toilet;
A business premises with the required business zoning.
Also on the property is a small shop, facing Ottery Road. The total rental income for this property is R11,000.
The house is divided into sections, one renting at R4,500 per month and one at R2,800 per month.
All the tenants, said Jovanovski, are still in their various sections of the property and most have expressed the wish to stay on. However, their leases can, should the new owner so wish, be cancelled on one months’ notice.
Rawson Auctions’ conditions include the paying of a 5% deposit on the sale price and a 10% commission plus VAT over and above the sale price immediately after the deal has been concluded. No bidder’s registration fee is charged, but it should be noted that the Consumer Protection Act stipulates that all bidders have to be registered and have to bring with them certified copies of their ID documents and proof of residence.
