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ENTIRE CITY BLOCK FOR RE-DEVELOPMENT AD2 AUCTION IN SALT RIVER, WESTERN CAPE AUCTIONED BY THE HIGH STREET AUCTION COMPANY

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SALT RIVER - COMMERCIAL PROPERTY

DESCRIPTION:

Zoned Mixed Use 2Maximum allowable bulk of ± 15 168m²The proposed development will consist of:276 x apartments over 7 floorsGround floor retail, restaurants, workshops, and micro-retail4 x Basements parking levels = 409 x parking baysThe site lies outside the Heritage Protection Overlay Zone (HPOZ) and a demolition permit has been issued by Heritage Western CapeThe seller will enter into a 1-year triple net head lease on transfer which will produce ± R3.3 million net income for the first year. This will allow the purchaser time to refine plans if need be.Current improvements GLA: ± 4624m²Stand size: 3792m²
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