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Fully Let Retail & Commercial Building With 9% Yield
updated on Feb 12, 2024
R 16 500 000

WEB REF: 706658

Property Summary
  • Selling Price POA
  • Property Type Commercial - Office
  • Erf Size 1132.0000 m2


Description

Bidding opens at R17 500 000 ONLINE AUCTION Bidding Start Time: Wednesday 28 February 2024 @ 09:00 Bidding End Time: Thursday 29 February 2024 @ 14:30 Registration is essential by Monday 26 February 2024. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent. Description: Omnipark Kuilsriver is situated on Van Riebeeck Road being the Main Road running through Kuilsriver, connecting the affluent Northern Suburbs of Cape Town with the Helderberg Basin and Stellenbosch. The property is also well located in terms of the R300 road linking Kuilsriver onto both the N1 and N2 highways, as well as close proximity to the Cape Town International Airport. The property has been improved with a double storey building, the bottom floor being retail and the top floor office space. It could be a unique opportunity to convert the top floor into residential units. Ample parking is available at the back of the building. The retail tenants are long standing. The side of the building offers a great advertising exposure which can generate additional income. • Fully tenanted with 6 tenants • 7 Reserved open bays • Ample municipality parking behind the building • Gross annual income: R2,593,977.00 • Monthly recoveries: R44,661.98 • Monthly expenses: R62,405.00 • Full income / expenses breakdown available • VAT entity • Can be zero rated DETAILS: • Erf no: 11749, Kuils River • Erf size: 1132m² • Zoning: General Business 5 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.

Additional Features
      Property Address

      90 Van Riebeeck Road De Kuilen Kuils River

      Contact Agent(s)

      eMail Agent(s)