Commercial - Retail for Sale in Observatory

Description

Bidding Opens At R 5 500 000 ONLINE AUCTION Bidding Start Time: Wednesday 30 July 2025 @ 09:00 Bidding End Time: Thursday 31 July 2025 @ 14:30 Registration is essential by Monday 28 July 2025. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: An opportunity to purchase a part of history. Located in the best node, amongst the hip bars and restaurants. This building has a lot to offer. Currently the home of Pancho’s, one of Cape Town’s renowned and best Mexican restaurants. Established over 40 years ago, Pancho’s has been a landmark in Observatory and known amongst locals and internationally. The building is currently run as a fully equipped 250-seater restaurant. Ground floor includes: • Road exposure and window seating • Bar/cocktail area • Multiple seating areas • Ablution facilities for male and female guests • Full commercial kitchen Second floor includes: • Multiple seating area • Large enclosed balcony overlooking the popular Lower Main Road • Ablution facilities • Smaller kitchen which comes with a vintage dumbwaiter • A roof top deck bar and cocktail lounge area with beautiful view of the mountain, great for those summer evenings. Second Floor Unique Feature: • Residential accommodation which includes a large bedroom with built-in cupboard. Full modern bathroom with corner bath tub, twin shower and his and hers basins. PLEASE NOTE: The purchase price is only for the property and not equipment, fixtures and furniture. This can be purchased at an extra cost. An opportunity exists to purchase this well-established turnkey and fully equipped business. NDA will need to be completed should further information be required. DETAILS: • Erf no: 27008 • Erf size: 299m² PAYMENT TERMS: 2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer. REGISTRATION REQUIREMENTS: To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee. 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.