720m² Building For Sale in Salt River

R7,500,000

Web Ref No CL3479

Multi tenanted investment property | Development Potential

Multi tenanted property, which is almost fully let, on busy Salt River Road. Comprising 5 shops which all have good shop frontage and visibility onto Salt River Road. Combined with the visibility and frontage the site has relatively high foot fall making it an attractive space for tenants. Your long-term tenancy is set to be really good based on these factors. The mixed use 2 zoning allows for over 3000 sqm of bulk and the Seller has drawn concept plans for 51 flats and 5 retail shops which could be sold on a sectional title basis. Hold with a good yield and profit with a development in the future.

Salt River is an up-and-coming area that has seen gentrification and investment over the years both in residential and commercial, particularly in student housing and most notably the massive investment that Amazon has made. This site is close to the popular Old Biscuit and has also seen growth in upmarket retail and office. Easy access to Southern Suburbs via the main road and Nelson Mandela Boulevard, Maitland and the Northern Suburbs via the N1.