A well positioned redevelopment site in Cape Town's centrally situated Salt River area has come onto the market through Pam Golding Commercial (PGC). Comprising 2800sqm of building space over two floors and set on an erf of 1947sqm, this property is priced at R8.75 million.

Comments Selwyn Sharon, PGC leasing, sales and investment consultant: "Situated in Shelly Road just 300m from Victoria Road with good access to the N2 and within easy reach of Cape Town International Airport, this property is zoned Commercial C2 - for commercial, business or residential use.

"With a height restriction of seven floors, the building could be converted to trendy offices, storage space, for use as a call centre or even residential accommodation. With three phase electricity already installed, it also lends itself to light industrial use. This property is ideal for an owner-occupier who wishes to secure a well-positioned asset with sound future potential.

"Being located adjacent to vibrant Observatory, Salt River is beginning to see a regeneration take place and already there are new developments taking place in the area, including a new residential development," adds Sharon.

The property will be vacant from early 2009.

Issued by Gaye de Villiers

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