R4,518 Excl. VAT
R1,576 Excl. VAT
Excellent Retail Investment Opportunity in Muizenberg
The Muizenberg Precinct has undergone an impressive upliftment in the last number of years with the development of the promenade and popular amenities such as surf shops, restaurants, coffee shops and of course the most popular surfing location in Cape Town.
This sectional title block is perfectly positioned on the entrance to this promenade. There is currently a student-housing development being built across the road and there are also plans for a neighbouring building to be completely redeveloped, which will only serve to further uplift the community and increase the value of the properties in the area.
There are two ground floor retail units adjacent to each other which are for sale either separately or together.
Ground floor: 156sqm
Price: R5,950,000 excl VAT
Alpha Pharmacy, a strong tenant, has just signed a 5 year lease for this unit and taking their rental into account as well as operating costs of the unit, it would yield an investor 8.5% per annum
Ground floor: 74sqm
A fully liquor-licenced restaurant is currently occupying this space on a three year lease. There is a 3 month escape clause which would allow an investor to find a new tenant for a longer lease term or the current lease can be negotiated to firm up the security of income. This unit would also yield an investor 8.5% per annum on the purchase price, taking all income and expenses into account.
What's the next step? Just reply to this listing with your contact details to request a call back. You may also call the broker specialist for the area directly, Simon Solomon from Safcom Properties. You will be provided with a prompt response and professional service to assist you in making informed decisions in your property search.
Muizenberg, Southern Suburbs
The Southern Suburbs region on our search map includes the following areas: Claremont, Rondebosch, Newlands, Kenilworth, Mowbray, Pinelands, Maitland, Ndabeni, Wynberg, Plumstead, Constantia, Muizenburg, Westlake, Diep River, Heathfield, Ottery, Retreat, Wetton, Tokai.
The Southern Suburbs, home of the Prime Minister's official residence, is found to the South East of the...
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