This investment opportunity comprises of two adjacent erfs with:
- Erf 1: A Tenanted, Double story, Corner, Retail and Residential Mixed-Use Property @ R 18,900 000.00 plus VAT.
- Erf 2: GB1 Zoned, 607 m2, Vacant Plot @ R 4,250 000,00 plus VAT (*This will only be sold once the building has been sold or as a package deal.)
You can earn a Gross Cap Rate @ 11% on the Retail building.
The 1511 m2, mixed-use corner property and vacant lot comprise of:
1. 8 first floor flats (one vacancy)
2. 7 ground floor retail shops (fully let)
3. 4 single garages (two vacancies)
4. 2 storerooms (fully let)
5. 1 Staff quarter
5. Ample on street, paved parking
6. Vacant Plot is north facing with sea views
A good and dependable tenant mixed that includes
- Doctors Consulting Rooms
- A Supermarket
- A Surf-shop
- The famous Lighthouse Pub and Grill
Developments in the area:
- The municipality has upgraded the road and add a circle at the corner to ease traffic flow.
- A multi-million rand complex that includes a SPAR retail store is under construction opposite the vacant plot.
- The new master plan development at Imhoff farm, is a mere 2km away from Swan Lodge and is set to inject R1.56bn into Cape Town's Kommetjie.
Don’t miss out on this opportunity to be a part of the face lift of this popular seaside destination.