All properties close to Woodstock’s Old Biscuit Mill (perhaps the most popular Saturday morning market and open air eating venue in Cape Town and a pleasant place to browse and shop at any time of the week) have shot up in value since the Old Biscuit Mill ‘took off’, says Tanya Jovanovski, Rawson Auctions co-franchisee for the Western Cape.
This indisputable fact, she says, should make her latest Woodstock offering of interest to investors. The building coming up for auction is a 340m2, four bedroom Edwardian villa with a loft upstairs and it is sited directly behind the Old Biscuit Mill, between Bromwell and Strand Street. The property is situated between a factory and a vacant plot.
The building has until now, says Jovanovski, served as a home and a workshop. The owner, who has lived there for 60 years, uses the back part of the house, which has been converted into a large workshop, to make curtains and upholstery.
The home, she says, could, with renovation, be used entirely for offices or rented out as student accommodation like so many others in this precinct.
The reserve price for this home has been set at R2,5 million.
The auction will take place at 12 noon in the Rawson Property Group’s head office at 222 Main Road, Rondebosch on 24th July. It will be conducted on the traditional Rawson Auction conditions, i.e. a 5% deposit and a 10% auctioneer’s fee to be paid on the fall of the hammer.
