Commercial - Retail for Sale in Riebeek Kasteel

Description

ONLINE AUCTION Bidding Start Time: Wednesday 26 March 2025 @ 09:00 Bidding End Time: Thursday 27 March 2025 @ 14:30 Registration is essential by Monday 24 March 2025. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. DESCRIPTION: Discover The Opportunity Of A Lifetime. The historical town of Riebeek Kasteel has been a sought-after area for Swartland in recent years – this premium commercial property perfectly situated on the main road in the most popular tourist and retirement community node & has thrived on its local art scene, picturesque wedding venues and weekly community functions. Known as the Square, this property provides great opportunities for rental income, business operation and value extension through its bulk potential. Currently generating solid income from its existing tenant mix, we have also given potential buyers the option to acquire the anchor business that operates on-site. Lock, stock and barrel. Whether you are looking for retail, office, or hospitality needs, this property has the perfect platform to grow this charming town and foster stronger community engagement and upliftment. Property specifications: • Fully tenanted - 100% occupied mixed-use • 8 Total units - retail, residential, office, restaurant • Open space parking directly opposite • Current rental income ±R25,235 p.m (± R302,820 p.a), potential Income ±R63,235 p.m (± R758,820 p.a) • Business Turnover (last 6 months) ±R462,000 • Financials available on request (NDAs required) • Features: Ablutions / foyer area / yard area • Bulk Potential available for value-adds (3,345m² bulk, 6 floors, no parking requirements) • Secured interest from national anchor tenants if developer willing to redevelop site In-house Letting & Development services for investors looking for tenants & secured leases OR redevelopment. Exclusive Commercial Finance can be arranged. Viewings are scheduled by appointment, contact Sachin & Rob for more info or OTP. DETAILS: • Erf no: 148, Riebeek Kasteel • Erf size: 1 115m² • Zoning: Business 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.