Winelands farm to be auctioned

Cape Town - The Chase - a working boutique wine farm set in the heart of the Cape Winelands will be auctioned by the Michael James Organisation in association with Knight Frank on Thursday October 20.
 
The 70 ha property stretches along the Wildepaardejacht River on the slopes of the Klein Drakenstein Mountains, situated 45-minutes outside of the Cape Town City Centre.

The wine farm is equipped with the necessary infrastructure. It is covered in 43 ha of vines that produce an array of red varietals as well as Chenin Blanc.
 
The main homestead has three bedrooms. A manager’s house and labourers’ cottages provide accommodation for farm staff, with the fully functional workshop and winery providing the necessary infrastructure for the working farm.

A 10% deposit plus auctioneer’s commission is due on the day from the buyer. In addition, Fica documents are required when registering for the auction.

The greater Winelands area has recently shown an increase in demand for agricultural properties at the upper end of the market, according to Knight Frank managing director Susan Turner.

"Investing in the prime wine producing areas not only gives new owners a chance to enjoy the returns of wine production, but also the prestigious lifestyle that accompanies this," said Turner. In her view, the property would even be suitable for European investors who want to invest in a potential second home while procuring "the provincial way of life".

Benefits of an auction

According to Turner, selling a property on auction has certain benefits.

These include faster turnaround times, reduced negotiation periods, complete transparency and the chance of the deal falling through being nullified.

"The buyer is also assured that they have not overpaid for the property as there are other bidders who are prepared to pay almost the same amount for the property as the winning bid. Furthermore, they can be certain that the seller is not just ‘testing the market’," she explained.

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