1,073m² Retail For Sale in Observatory

R13,950,000

Web Ref No CL3587

FULLY TENANTED | LOWER MAIN ROAD | GOOD YIELD

Fully let income generating investment located in the heart of Observatory. The properties location at the centre of Observatory's night life and social scene promises good long term tenancy and yield. Consisting of two buildings one of which is a Victorian-style building on Station road and the other is a single story building on Lower Main Road with impressive triple-volume ceilings and a large outdoor area. The Lower Main Road building houses Trenchtown a hallmark of the Observatory nightlife scene, and the Station Road property houses an esoteric lifestyle shop and a new tenant. The property boasts prominent frontage onto Lower Main Road where Observatory's vibrant nightlife begins and continues along this bustling street. The property is sold subject to the lease. It is a VAT applicable sale in other words VAT will be added to the purchase price, but the sale can be zero rated for VAT (subject to SARS approval).

The property consists of two erven both zoned as general business 1, giving the new owner a variety of options including potential for redevelopment. Sold on a net yield of greater than 10% with long term tenants. The info pack including the yield calculation is available upon request.