Commercial - Retail for Sale in Cape Town City Centre

Description

Accepting offers. DESCRIPTION: Found a Hidden Gem! This mixed used heritage building offers the most convenient and central pocket within Cape Town. Presenting a 2-storey property with redevelopment potential that is wedged perfectly in the heart of bustling work professionals, tourists and students that occupy the area on a daily basis. Ideally suited for short-term letting/backpackers, student accommodation, day & night life activities, or hybrid co-work space. Located off Long Street, CBD and within walking distance of the Company Garden's, Cape Town High Court and The Chambers. Surrounded by plenty of retail shops, tourist attractions and food outlets to choose from, as well as religious places of worship. Within close proximity to transport routes for Uber, MyCity buses and taxis for those who require access to public transport. Current Property Features: • Secured entrance with front reception • Shared courtyard, bar areas • Large rooms (used as dance floors, lounges & sound recording area) • Bathrooms • Kitchen, pre-paid meters (electricity & water) • Plenty of parking space available • Potential to purchase as "going concern" - VAT applicable • Building being sold with liquor license • Current lease has 3 years remaining with escalations. Gross yield of 12% (Gross rental ±R540,000 p.a) • Current uses: nightclub, bar & entertainment hub, restaurant Opportunity: • Potential uses: recording studio or dance studio, educational centre, student res, fashion retail outlet, corporate offices or shared workplace, possibilities are endless. • Potential value additions or upgrades include security, ablutions, storerooms, solar panels on roof, to name a few • Claremart tenant waiting list for investor buyers All offers welcomed! Contact Sachin & Farrell for more info or OTP. Exclusive Commercial finance available! DETAILS: • Erf no: 4013, Cape Town • Erf size: 57m² 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 Auctioneers. Bidders must conduct their own investigations prior to bidding.