Investment Property : Prime Retail Space Available for Purchase in Popular Harrington Street

INVESTMENT OPPORTUNITY - 9% NET YIELD

Current tenant just signed on a 3 year lease with renewal (Possibility of purchasing at a 9% net yield with large capital appreciation potential).

Amazing ground floor retail space in a new development available for purchase: Internal size of 241sqm, outdoor lane of 180sqm can be leased for R125/sqm gross if required.

Highlights of the space include:

- Eight Opening Double Doors to the Public.
- Access to the lane
- A prime location on Harrington Street, which has undergone big development, and is still undergoing even bigger development in The Easy City.
- The prime retailer will be able to provide food and drinks to the 48 short stay apartment hotels units above the retail space, in The Harri.
- The retailer will also be able to operate normally to walk-in trade, and can serve on uber eats and Mr D, therefore there are essentially three revenue streams of income.
- Access for trucks to offload supplies in a secure environment.
- Cameras installed in and around the building.
- There is a 24-hour concierge at the Harri, which can be utilised.
- The Landlord is offering a Tenant Installation Allowance for every year of a lease signed, either a month of beneficial occupation will be given, or a month of a Tenant Installation Allowance.
- Liquor license has already been secured and is transferable to any new retailer.
- The space can be cut into two spaces, or even four if necessary.
- Option to Purchase: R6.7 million Excl Vat. translating to a 9% net yield ex VAT

Contact for additional information or to arrange a viewing

Property Reference #: CL10742

Agent Details:
Luc Lenferna de la Motte
Annenberg Property Group
Office 2DMatrix8 BridgewayCentury City 7441
Bridgeway
Century City
7441