23 City Of Cape Town Properties Worth Millions On Auction This Month
23 City Of Cape Town Properties Worth Millions On Auction This Month. Two quaint cottages nestled between the CBD and the bottom of Kloofnek, as well as a three-bedroom, two-bathroom house in Newlands with attached granny flat, are among more than two dozen council properties released for auction to the public in Cape Town this month.
The houses and development sites across the peninsula from Muizenberg through Grassy Park, Tafelsig, Strandfontein, Khayelitsha and across to Stand, Goodwood and Durbanville, will be sold by High Street Auctions on behalf of the City of Cape Town at the DHL Stadium in Green Point on June 29th.
The breakdown of the council properties on auction is:
Four houses – two in Gardens, one in Newlands in the southern suburbs and the last in Goodwood in the north. The CBD houses are zoned General Residential 2, and the Newlands and Goodwood houses Single Residential 1.12 development properties zoned Single Residential 1: Conventional Housing; Two development properties zoned Single Residential 2: Incremental Housing; Three adjacent development sites being sold as one large group housing lot zoned General Residential 1; One development property zoned General Residential 4; Two development sites zoned Local Business 2; Four lots zoned General Business 1; Two development sites zoned General Business 4; Two development sites zoned Community Zone 1; One development site with a dual zoning of Community Zone 2 and Transport Zone 2; and One development site with approved overlay zoning for residential.
Greg Dart, Director at High Street Auctions, says bidder registrations for City of Cape Town property auctions have traditionally been high, but buyer interest in the lots under the hammer this month are exceeding all expectations. Dart says there’s immense appetite for City of Cape Town development land, because the geography of the peninsula is by its nature very limiting.
“There simply isn’t enough space for the city to grow, given the number of people migrating to Cape Town.” Dart says the Mother City’s incentives are enticing: 60% less load-shedding than the rest of the country, a cash-for-power plan buying electricity from businesses that feed back into the grid and an across-the-board property rates relief package peaking at 52% for homes valued below R5 million. “It’s not rocket science to figure out why businesses are migrating from Gauteng to Cape Town, and their owners along with them. We’ve seen an upward trajectory of interest in High Street’s auctions of City of Cape Town land in recent years, but never at current levels. In the past, bidding at City of Cape Town property sales has been competitive. This month, I think it’ll be nothing short of ferocious.” Dart added.
Dart says the City of Cape Town’s property auction will begin at noon sharp on June 29th in Business Lounge G on Level 4 of DHL Stadium (formerly known as Cape Town Stadium) in Fritz Sonnenberg Road, Green Point, Cape Town.
