R 4 500 000

Commercial Property for Sale in Grassy Park

Grassy Park, Cape Town

680 m²

Net annum income of R564 000 Multi-Use Property on Auction!

Opening bid: R4 500 000.00 + Commissions.

On Auction!

This versatile property, generating a net annum income of R564 000, combines both commercial and residential spaces, making it an ideal investment. Located along the high-traffic Klip Road, it features a semi-industrial wedding venue, a residential apartment block, and significant development potential. With excellent visibility, secure access, ample parking, and opportunities for expansion, this property offers great returns and future growth.

Building 1: Wedding Venue & Commercial Space

- Wedding Venue: 280m² semi-industrial venue designed for large events, with a rustic industrial aesthetic.

- Second Floor: Office space and storage, with plans for future expansion to increase commercial capacity.

- Studio Apartment: 25m² on-site apartment for security personnel, ensuring 24/7 monitoring.

- Parking:...

Opening bid: R4 500 000.00 + Commissions.

On Auction!

This versatile property, generating a net annum income of R564 000, combines both commercial and residential spaces, making it an ideal investment. Located along the high-traffic Klip Road, it features a semi-industrial wedding venue, a residential apartment block, and significant development potential. With excellent visibility, secure access, ample parking, and opportunities for expansion, this property offers great returns and future growth.

Building 1: Wedding Venue & Commercial Space

- Wedding Venue: 280m² semi-industrial venue designed for large events, with a rustic industrial aesthetic.

- Second Floor: Office space and storage, with plans for future expansion to increase commercial capacity.

- Studio Apartment: 25m² on-site apartment for security personnel, ensuring 24/7 monitoring.

- Parking: Approximately 20 parking spaces available for guests.

Development Potential: 1300m² of remaining bulk for further commercial development.

Building 2: Residential Apartments

- Apartment Block: 150m², double-level block with 4 x 75m², 2-bedroom units, each with allocated parking.

- Exclusive Parking: Each apartment has its own parking space, separate from the wedding venue.

- Security: The entire property is secured with perimeter walls and gates, with access from Klip Road and Thomas Crescent.

- Development Potential: 820m² of remaining bulk for future expansion or additional residential units.

Additional Features:

- High Exposure Location: Situated on the busy Klip Road, offering excellent visibility and easy access to major routes and public transport.

- Leases in Place: Stable rental income from both the wedding venue and apartments, with secure leases in place until 2026.

- Revenue Opportunities: Potential for additional income through signage and advertising on the property.

- Growth Potential: The property offers ample space for future development, making it an attractive option for investors looking for long-term growth.

This property offers a balanced mix of commercial and residential opportunities, providing immediate returns through its current leases and significant potential for expansion. With a strong income stream and development options, it’s an excellent investment for those seeking both short-term stability and long-term growth.

Listing number: P24-115186705, Image number: 1

Listing number: P24-115186705, Image number: 2

Listing number: P24-115186705, Image number: 3

Listing number: P24-115186705, Image number: 4

Listing number: P24-115186705, Image number: 5

Listing number: P24-115186705, Image number: 6

Listing number: P24-115186705, Image number: 7

Listing number: P24-115186705, Image number: 8

Listing number: P24-115186705, Image number: 9

Property Overview

Listing Number

115186705

Type of Property

Commercial Property

Description

Retail

Listing Date

07 November 2024

Erf Size

1 366 m²

Floor Size

680 m²

Facilities

Bedrooms

8

Bathrooms

8

Points of Interest

Bond Calculator

*Disclaimer: Please note that by default this calculator uses the prime interest rate for bond payment calculations. This is purely for convenience and not an indication of the interest rate that might be offered to you by a bank. This calculator is intended to provide estimates based on the indicated amounts, rates and fees. Whilst we make every effort to ensure the accuracy of these calculations, we cannot be held liable for inaccuracies. Property24 does not accept liability for any damages arising from the use of this calculator.