595m² Building For Sale in Observatory

R9,715,000

Web Ref No CL3558

Fully Let | Student Accommodation | Near AFDA Film School

Sole mandate - brokers are welcome. Fully let student accommodation in Observatory, sold as a going concern. Situated in a quiet part of Observatory, this property is ideally located near AFDA Film School. Primarily rented by AFDA students, it offers a convenient and pleasant walk through a quiet charming neighbourhood. The property features 20 rooms serviced by 3 student lounges with fully equipped kitchens, providing comfortable communal spaces for recreation.

This prime location ensures consistent occupancy with easy access to Lower Main Road's popular cafes, eateries, and vibrant nightlife, perfectly suited to student living. Zoned Mixed Use 2, the site offers potential bulk of approximately 1,700 m2 and a height allowance of up to 25 meters, opening doors for future development. The building is carefully maintained and designed to be load-shedding resistant. Gas-powered showers with UPS backed ignition, and UPS-backed WiFi ensure uninterrupted services. Additional features include a front braai area for student socializing and an on-site paid laundry facility that generates supplementary income. Info pack available on request.

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Features

Title Freehold
Zoning Mixed Use
Monthly Rates R5,200.00pm Excl. VAT
Monthly Levy R1.00pm Excl. VAT
Floor Size 595m²
Land Size 595m²