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Unique Opportunity: Prime Redevelopment for Investors with Additional Development potential
R 27,000,000
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8 months ago119 views
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Description
Discover an exceptional opportunity for conversion in the thriving Salt River mixed-use hub. This strategically located property is situated in close proximity to the Salt River Circle, which bordered by Friend Street, Factory Road, and Brickfield, Enjoy convenient connectivity to major arterial roads such as the N1, N2, M3, and M5. Seamlessly access public transport options including the Salt River Train Station and MyCiti Bus Routes.
Spanning across an expansive erf size of 1933sqm, this building comprises a 600sqm basement (dedicated to parking), 1600sqm on the ground floor, and 1250sqm on the first floor – all conveniently accessible through roller-shutter entrances.
Currently tenanted with 2 year leases in place, generating R200 000 per month on rentals.
Benefiting from a mixed-use 2 zoning, this property boasts a generous floor factor of 4. Unlock the potential for further development with a total bulk of 7732sqm, making this a truly remarkable investment opportunity.
Property Reference #: DPC222
Agent Details:
Andre Swanepoel
Dormehl Phalane Property Group
12 C Marine Circle
Bloubergrandt
7441
Spanning across an expansive erf size of 1933sqm, this building comprises a 600sqm basement (dedicated to parking), 1600sqm on the ground floor, and 1250sqm on the first floor – all conveniently accessible through roller-shutter entrances.
Currently tenanted with 2 year leases in place, generating R200 000 per month on rentals.
Benefiting from a mixed-use 2 zoning, this property boasts a generous floor factor of 4. Unlock the potential for further development with a total bulk of 7732sqm, making this a truly remarkable investment opportunity.
Property Reference #: DPC222
Agent Details:
Andre Swanepoel
Dormehl Phalane Property Group
12 C Marine Circle
Bloubergrandt
7441
Id Subtitle 1229330925
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Estimated monthly repaymentR 292,601
Total property loan amountR 27,000,000
Total interestR 43,224,218
Total repaymentR 70,224,218
Interest rate at 11.75% for 20 years *
* The interest rate is by default set to the prime lending rate. Banking institutions may choose to lend to individuals at a rate above or below this prime rate.
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Dormehl Phalane Property Group
Selling for 3+ years
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