A decommissioned tobacco manufacturing plant in Paarl, owned by British American Tobacco, will be brought to the auction floor during next month's Commercial Multiple auction on November 22.

The property which extends over 5 ha was originally developed the Rembrandt Tobacco Group, and was considered one of the most modern tobacco manufacturing plants in the world - in 1952. The property, bordered by three roads and Berg river frontage- is located to the east of the Paarl CBD, where many other residential and retail developments are in various stages of progress. Located on the corner of Lady grey and Berg River Streets, this property enjoys high exposure and offers an excellent redevelopment opportunity, unique in scale and location.

The property lends itself to retail and mixed use residential redevelopment although it is currently zoned for industry, with 75% coverage and 6 story height restriction. The property boasts an industrial power supply of 4000 KVA.

The numerous improvements to the property offer a total G.L.A. of ±17900m² with three large warehouse spaces making up the most of lettable area. The most modern building is a 6 945m² double story factory which includes numerous workshops, storage areas and offices. In addition there are 2 other large open plan warehouses offering 3 463m² and 4 571m² respectively. One of which includes ablution facilities and secondary office accommodation. A staff entrance and security control area is located in a 140m² renovated Victorian building. The entire perimeter is secured by electrified fencing and access is restricted to 3 entrance points.

In addition there is over 15 000m² of land previously dedicated to sport and recreational facilities, a recreational complex, shaded parking areas and three identical residential units. Furthermore there is a semi detached house, used as staff quarters for the Rembrandt Group, across the road at45 Synagogue Streetincluded in the auction.

"This unique property offers the investor a rare chance to stake a large claim in a prime location near popular retail and residential developments in Paarl." commentsEliasTzouvannifrom Auction Alliance. "The property is also ideal for a private school development. "

The auction takes place at 12 pm at the Crystal Towers Hotel & Spa,CenturyCity

For more information contactEliasTzouvannion Tel: 076 153 2352 or Email: etzouvanni@auction.co.za

Visit:www.auction.co.za/17969