Property Summary
- Price POA
- LocationCape Town, Maitland
- Property TypeCommercial - Retail
- Zoning MU2
- Erf Size332 m2
- Power Type
- Building Height
- No Transfer Duty Yes
Features
Description
Accepting Offers. Reduced Price.
DESCRIPTION:
Positioned on Voortrekker Road, this building has been an anchor in the Maitland and Kensington area. Easy access to public transport and main transport routes.
Tenanted mixed-use building currently generating over ±R43,800 per month (±R525,600 per annum). Average net return estimate at 15% per annum. Bulk potential of ±1,328m² addition, subject to approvals. High-visibility zone for advertising revenue & solar generation. The investment possibilities are endless.
• 3 x Front-facing, ground-floor retail shops. (Tenant mix is Superette, Groceries, Clothing).
• 8 x Residential units (1 Bachelors unit and 7 x 2 beds, 1 bath, lounge & kitchen). Prepaid meters for each unit.
Tenants are long-standing with month-to-month leases currently. Recoveries from tenants. Only 1 vacancy at present.
Currently unsectionalised block with Mixed Use 2 zoning in place.
Development Potential:
• FAR – 4x
• Coverage - 100%
• Height - 38m
• Setbacks – 8m
• Primary uses -business premises, mixed dwelling (block of flats), place of institution/worship/assembly/entertainment, hospital or clinic, film, hotel, etc.
• Consent uses – adult services (retail and entertainment), expo centre, service station, motor vehicle repair garage, small-scale animal care, recycling centre, renewable energies, etc.
All planning and applications to conform with COCT Municipal guidelines and procedures.
Transfer Duty Applicable.
DETAILS:
• Erf no: 107941, Cape Town
• Erf size: 332m²
• Zoning: Mixed Use 2
DISCLAIMER:
The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.
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Property Address
Maitland, Cape Town, Western Cape