AUCTION OF PRESTIGIOUS GREENPOINT PROPERTY IN CAPE TOWN

An opportunity to acquire a prime located, highly desirable commercial property in the heart of Cape Town's vibrant De Waterkant area has become available with the on-site auction of 34 Napier Street at 11am on Tuesday June 19 (2008) through Pam Golding Commercial Auctions. The property is currently fully tenanted.

Very much an in-vogue area among the trendy set - both local and international - the De Waterkant area is situated just below the historic Bo Kaap area. Geoff Stroebel, GM of Pam Golding Commercial comments: "Properties in the fashionable De Waterkant area are highly sought after by local, national and international buyers as they have a unique cachet and cosmopolitan character all of their own. The area is within easy walking distance of the V&A Waterfront, the central city with its café society, and Cape Town International Conference Centre.

"Equally importantly, this recently refurbished property is directly opposite the exciting Cape Quarter extension that is currently under construction, with 11 000sqm of retail and 8250sqm of A-grade office due for completion within the next year, as well as the provision of 950 parking bays. This translates into an outstanding opportunity for the new owner of 34 Napier Street to capitalise on the huge influx of people - with the emphasis on the well-heeled - into the area," he says.

The property is zoned C3 general commercial, retail or residential, and as plans are approved for the development of a third level, it could be utilised for various purposes by an owner occupier or investor. Stroebel adds: "This gem of a building would provide exclusive niche retail space or prime office accommodation, it could be converted to a trendy restaurant or for residential accommodation - or a combination of office/retail and residential use."

For further information contact Geoff Stroebel of Pam Golding Commercial on 021 4177878 / 083 460 1281 or email geoff.stroebel@pamgolding.co.za.

Issued by Gaye de Villiers
Tel: 021 6837788 or 083 325 1939
On behalf of Pam Golding Commercial Auctions
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