Beautiful Heritage Building with good rental return.

The â??Kronendal Homesteadâ? is a beautiful Cape Dutch building and Provincial Heritage site.

The total property consists of 2 erven, as follows:
 
1. Kronendal Homestead â?? ERF 7779 (140 Main Rd, Hout Bay)
Erf size: 4142 sqm
Zoning: GB1
Total lettable area: 1777 sqm (incl. exterior seating area/ courtyards for DEUS; excluding parking and
common areas)
Please note that this ERF is a provincial heritage site because of the historic Kronendal Homestead.
The â??Office Parkâ? buildings (units 1 -6) are not historic.  
 
1. Klein Kronendal â?? ERF 677 (140 Main Rd, Hout Bay)
ERF size: 812 sqm
Zoning: SR1 (rezoning application to GB1 submitted)
Total lettable area: 213 sqm (excl. parking, garden and stoep)

With the anchor tenant being Deus Ex Machina Restaurant, the other tenants include Sealand Gear, CrossFit Gym, a Physio, a Barber and Fibre Company.
 
Asking price for both properties is R 21 000 000 plus VAT, which equates to an approximate rental yield of 9.2% after operating costs.

Current rental income is R2,224,525 gross per annum.

There is plenty of parking with 4 parking areas in total.

The properties are only sold together.

Property Reference #: TPC68

Agent Details:
Andrew Poole
Tyson Properties
253 Main Rd
Sea Point
8060