New Release - Brand New Block of Flats & Commercial - Observatory
updated on Sep 15, 2020

WEB REF: 342884

  • Price POA
  • LocationCape Town, Observatory
  • Property TypeCommercial - Block of Flats
  • Erf Size414 m2
  • Rates & Taxes R 1085

Valued For Over R32 Mil – Pre-Auction Offer Will Be Considered ACCEPTING OFFERS ONLINE BIDDING ONLY Bidding Times: Wednesday 30 September 2020 @9am – 4pm Registration is essential before Tuesday 29 September @ 2pm For more information please contact the listing agent. Description: PRE-AUCTION OFFERS WELCOME MAJOR INVESTMENT OPPORTUNITY. A redeveloped mixed-use block consisting of 19 apartments, and 3 retails in prime Observatory hub. Urban living environment coupled with heritage and industrial designs, this vibrant development is ideal for student accommodation, young professionals and creatives, or suitable to the corporate client letting and short-term letting. Currently consisting of: FIRST FLOOR: 2 x 1 bed apartments/studios | 7 x 1 bed loft style apartments/studios SECOND FLOOR: 2 x 2 bed apartments THIRD FLOOR: 8 x 1 bed loft style apartments/studios GROUND FLOOR: 3 x Retail units & Secured Private Parking (4 parking bays, 5 motorbike bays) All residential units are fully-equipped kitchens, modern bathroom fittings, built-in cupboards, fibre connections, smart metering systems, and contemporary lighting to maximize the natural light. Stunning views of Devil's Peak, Table Mountain and Lions Head, the Harbour and the Inner City Security doors, access-controlled points, CCTV setup available High-income potential: Currently vacant. Estimated potential income R3,141,420 per annum (Residential units R225,090 p/m, Retail R30,695 p/m, Parking bays R6,000 p/m) . With possible additional income streams through third-party service provisions that are in place as well Plans available on request Within close distance from Old Biscuit Mill, The River Club, Tertiary Schools, Cape Town Science Centre, Religious Places of Worship, Groote Schuur Hospital, UCT Medical School, Trendy Restaurants and Main Transport routes. High-income potential: Currently vacant. Estimated potential income R3,141,420 per annum Details: Erf no: 178427 Erf size: 414m² SHOW DAYS: View By Appointment Payment Terms: 2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer. Registration Requirements: To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as an R20,000 registration fee. Disclaimer: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.

Additional Features
  • Auto Garage Doors
  • Laundry
  • Balcony
  • CCTV
  • Guest Toilet
  • Security Doors
  • Store Room
  • Intercom
  • Entrance
  • Patio
  • Built in Cupboards
  • Deck
  • Mountain View
  • Loft
Property Address

345 Lower Main Road Observatory Cape Town

Contact Agent(s)

Sanjeev Boyjoonauth
Sanjeev Boyjoonauth
Cell: 071 223 9552
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WhatsApp Agent
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Sachin Boyjoonauth
Sachin Boyjoonauth
Cell: 068 259 2425
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