R3,350,000

Retail in Great Brak River

Excellent Commercial Rental Investment Of 311m² With Rental Income Just Under R25,000 A Month

This property is situated in an excellent location in the main street of Groot Brak River with parking available in front for customers. The exterior was upgraded in December 2017.

The total rental income is equal to R24692.45, including VAT, excluding rates and taxes and is put together as follows:

Tenant 1: 170m² - R14,357.45 per month (5 year contract expiring 30 June 2024).

Tenant 2: 130m² - R9,450.00 per month (1 year contract expiring 29 Feb 2020).

Tenant 3: 11m² - R885.00 per month (1 year contract expiring 31 March 2020).

Great Brak River is an exceptional village with lots of history and landmarks. This small town offers all the basic amenities of a town and is situated halfway between George and Mossel Bay in the Garden Route. It is only a 3 minute drive from the beach and 15 minutes to George Airport.

Property Type
Retail
Stand Size
667m²
Building Size
400m²
Rates & Taxes
R 2799
Great Brak River overview with Zelda
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What makes Great Brak River a great suburb?
Great Brak is a very scenic, historic little town which was founded by the Searles and Franklins in the 1800's. Some of the descendants still have properties in Great Brak and many of the original houses built by these families are protected by Heritage. There are many greenbelt areas which are preserved to ensure natural habitat and fauna and flora. Great Brak has a nostalgic and old fashioned country feeling. Although it is a great holiday destination for many, most properties are owned by permanent residents.
The typical Great Brak River buyer
Mostly older folk and retired people
Price overview of Great Brak River
There are no good and bad areas in Great Brak, only older and newer areas. Prices depend on the age, size, finishes and the view (Great Brak has beautiful views) of the property. The average price for a normal three bedroom house is in the region of R2,0m - R2,5m. Tenants can rent this house for between R8,000 and R12,000 per month. As for holiday accommodation during peak holiday times (normally December month) the rate per day for these homes range between R2,500 and R4,500.
Popular in Great Brak River
One of the most popular attractions is the Shoe Factory (Watsons Shoes). Historic buildings are preserved and used by businesses throughout the village. One famous beacon is the beautiful old movie house which is used by auctioneers once a month. Searle Memorial Church, Museums, Art galleries, primary schools (dual medium) and one secondary school as well as a few daycare centres and nursery schools. Pine Creek is an excellent camping holiday destination located on the banks of the Great Brak River. Great Brak has all basic amenities: filling station, Spar, Pick 'n Pay, laundromat, butcheries, pharmacy, general practitioner, optometrist as well as the ever famous De Dekke Restaurant. Great Brak is only 12 minutes from George Airport and halfway between George and Mossel Bay.
My Great Brak River tip
There are not many houses for sale in Great Brak (the village itself) at present. The prices for stands are also on the increase and because of the all the hills/steep land building costs can be quite extreme. Many buyers come from other provinces and buy houses/stands in cheaper areas outside of Great Brak where they can get better or think they can get better value for money. There is a very big demand for rental properties, most tenants have long leases in place. Unfortunate for landlords, rental income does not justify price paid for or the value of the rental property.
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property listed on 31 Jul 2019