Position! Position! Position!
Possible Shop Front Retail & Student Accommadation
Combined Erf Size: 1147m2 (across 3 Erven)
Sink your teeth into this fantastic & diverse development opportunity or hold this valuable set of properties as they are and earn a good yield on the rental income derived from 16 rooms. Collect up to ZAR 64 000 per month or keep the current tenant who is sub-letting and collect ZAR 45 000.
The properties are centrally situated near the new proposed Amazon Head Offices, UCT, 500m from the N2 which means 10min into Cape Town City Centre, Waterfront or City Bowl or going in the other direction, 10 min to the Cape Town International Airport.
3 x Semi-detached properties available with a joint erf size of just over 1147 sq/m.
Remember the new zoning laws allow for 3 dwellings on 1 property!
- Consolidate to 1 Erf and rezone for GB1 (precedent has been set directly across the road) and this will allow for commercial retail shopfront at street level in the original homes where the redevelopment keeps and features the heritage look and feel. The extra buildings could then contain multiple residential units. A total of 1800 square meters would be permissible.
- Consolidate to one Erf and rezone to GR4 to create multiple residential units or student accommodation (precedent has been set on multiple sites on Raapenberg Rd.)
- Conduct minor renovations and upgrade the existing homes/rooms and then add extra buildings to the rear of the properties as only around 35% of each erf is currently covered.
Make your move now for this sensational opportunity. Play Monopoly – buy three properties, maybe collect a 4th and the build a hotel
Call now to explore !