Wynberg Main Road redevelopment site under the hammer

A blue-chip redevelopment opportunity situated on Wynberg Main Road will fall under the hammer when leading auctioneers, ClareMart Auction Group host their February Multiple Commercial Auction at the end of the month.
 
The prime 5000m² redevelopment site awards developers the opportunity to acquire a superb location on bustling Main Road in the heart of the Wynberg business district.  “The site is currently tenanted by four JD Group national tenants and there is also fantastic upside rental potential when these leases expire down the line” adds Andrew Edelstein of the ClareMart Auction Group.
 
This general business B3 zoned property boasts a bulk of 3.7 and a height allowance of seven storeys in terms of the zoning scheme. The property represents a rare opportunity in the area, according to agent Andrew Edelstein.
 
“Like other CBD areas in the Cape, Wynberg is seeing a rejuvenation in its retail and business district. Main Road offers great exposure to passing trade and several successful new developments are testament to the value this building represents” says Edelstein.
 
This property will be auctioned on Wednesday 24 February, when the ClareMart Auction Group will host their monthly multiple commercial auction; taking place in the Garden Room of the Mount Nelson Hotel, at 12:30pm. For more information, contact the ClareMart Auction Group at 021 425 8822.