263 m² Retail For Sale in Maitland

ONLINE AUCTION
Bidding Start Time: Wednesday 26 June 2024 @ 09:00
Bidding End Time: Thursday 27 June 2024 @ 14:30
Registration is essential by Monday 24 June 2024.
Pre-Auction Offers may be considered. Auction Finance Available.
For more information, please contact the listing agent.

DESCRIPTION:
Recently renovated, this income generating property yields a solid 11% net return with secured leases in place! This site also holds the perfect zoning for your redevelopment aspirations with the ability to add bulk. Currently consisting of 3 dwellings on a total erf size of 263m².

Located in Coronation Road within walking distance of business hubs, educational schools and surrounded by plenty of retail shops and food outlets to choose from, as well as religious places of worship. Within close proximity to transport route (N1, Voortrekker Road, M5) for all public transport.

2 X Residential Flatlets:
• 1 Bedroom each
• En-suite Bathroom (shower, toilet, basin)
• Kitchen (BIC, single sink)
• Lock up & Go
• Aluminum windows

Retail Property:
• Lounge currently set up as superette store
• 2 Bedrooms
• 1 Bathroom (shower, toilet, basin)

Additional Features:
• Secured parking for up to 4 vehicles
• Building plans available on request
• High footfall and exposure area for commercial and advertising purposes

TOTAL GROSS RENTAL PER ANNUM: ±R240,000 (±R20,000 p.m)

Pre-Auction offers Welcome.
Contact Sachin for more info or OTP.

DETAILS:
• Erf No: 146647, Cape Town
• Erf Size: 263m²

PAYMENT TERMS:
2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer.

REGISTRATION REQUIREMENTS:
To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee.

DISCLAIMER:
The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.