862 m² Retail For Sale in Salt River

* Sole Mandate *

Hit the bullseye with this income producing developers dream.

This unique standalone property is ideally located in central Salt River and is thus arguably in the most central part of Cape Town with easy arterial access.

The property stands proudly overlooking Durham Avenue which is the main arterial road linking Albert Main Road in the North to Victoria Main Road in the South. The property also has stunning curb appeal and signage capabilities combined with high levels of passing trade. The unique building layout makes for an architecturally unique proeprty and equally unique studio and retail spaces loved by the tenants.

The building sits on an ERF of 862 sqm and boasts a gross lettable area of 1197 sqm with an impressive 3450 sqm of total bulk on the site. The substantial bulk is permitted due to the zoning of Mixed Use 2 which makes for a developers dream. The building is split into 4 office studio spaces and 5 ground floor retail units which have seen huge demand from prospective tenants. The road side curb appeal, great signage and ample street parking makes for a great product for any tenant.

Overall the property offers a variety of options to a prospective buyer. The option to retain the property as is and fully tenant with a conservative gross income of +-R120k PM OR adding additional rentable area on the 1st floor at the back of the property which would be easily done OR to unlock as much bulk as possible with a full redevelopment. The property is mostly tenanted and thus the transaction may be zero rated.

Contact me to discuss or view this exciting opportunity. Floor plans, rates, rent roll, etc on request.