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Tap into Margate's vibrant CBD, footsteps from the beachfront; versatile retail precinct with restaurant-ready layout, long-term tenants and 37 secure basement parking bays for added income.
SOLE MANDATE
This prime investment retail property is in the heartbeat of the Lower South Coast Margate CBD on the main road. This property is ideal for investors seeking a secure income with long term tenants and an excellent return on investment. The property is currently tenanted by a Franchise Tenant and three long term tenants with one section vacant subdivided into two sections. Each section are managed individually with electricity and water meters.
La Mer 1
Size: 283sqm * Levies: None * Potential income: R25 000+ monthly excl utilities * Rates: R3509.05
This use to be a franchise restaurant and the layout is still ready for a new restaurant tenant to just move in and start operating after shopfitting. Currently the shop is divided into two sections.
The first section is an open square shop of 110sqm with male and female toilet facilities.
The second section, 130sqm, offers outside seating, inside seating, front kitchen and a prep kitchen in the back with a freezer and cold room. The bottom section offers a dry goods storeroom, office and unisex toilet facility with a loading bay entrance from the back.
La Mer 2
Size: 1382sqm * Levies: None * Potential income: R200 000+ monthly excl utilities * Rates: R17158.57
Bottom Level - Currently tenanted by franchise company.
Size: 806sqm
Upper Level - Currently unoccupied but use to be rented by franchise tenant below and these floors are joint with a lift or with stairs.
Size: 576sqm
This is an open square with endless opportunities for the right tenant. Male and female bathrooms, separate shower, kitchenette and a walk in safe.
La Mer 3
Size: 167sqm * Levies: None * Potential income: R12 000+ monthly excl utilities * Rates R1872.94
This is an open square shop with a long-term tenant operating a general dealer outlet.
La Mer 4
Size: 136sqm * Levies: None * Potential income: R10 000 +monthly excl utilities * Rates R1752.11
This is an open square shop with a long-term tenant operating a Micro Loans outlet.
37 Secure basement parking bays with private entrance and access. Additional potential income. Levies: R2296 Monthly
This prime investment property offers endless opportunities with the right tenants and management team. The current commercial market in Margate is very active with multiple sales on similar properties also on the main road. If you are looking for an investment with opportunities to grow don`t hesitate to arrange for a viewing today.
Margate Central offers a vibrant coastal lifestyle characterized by its iconic blue-flag beaches, bustling holiday atmosphere, and convenient access to essential amenities, making it an ideal location for those seeking a relaxed seaside home.
* Distances and amenities are approximate.
