Ideally positioned directly opposite Tokai Food Lovers Market, this charming property offers exceptional development potential. Set on a generous 990sqm erf and zoned Single Residential 1 (SR1), it presents an exciting opportunity for a future mixed-use development, subject to the necessary approvals. The property has operated for commercial purposes for more than 30 years and currently has permission from the City to operate as a place of instruction.
Access to the property is via Church Road, while its prominent position provides excellent visibility from Main Road, benefiting from constant passing vehicle traffic, pedestrian exposure, and visibility from the Food Lovers Market parking area.
With several new residential developments emerging in the surrounding area, this property is well positioned to benefit from the continued growth and strong appreciation of Cape Town's property market.
No VAT is payable on the purchase, with transfer duty applicable instead.
Contact Simon Solomon of Safcom Properties today to arrange an exclusive viewing by appointment.
