Double GB4 Zoned Development / Investment Opportunity

Bidding opens at R5,000,000

ONLINE AUCTION

Bidding Start Time:  Tuesday 30 May 2023 @ 09:00.

Bidding End Time:  Wednesday 31 May 2023 @ 14:30.

Registration is essential by Monday 29 May 2023.

Pre-Auction Offers may be considered.  Auction Finance Available.

For more information, please contact the listing agent.

Description:

This is the goldmine you’ve been looking for!  Situated in the heartfelt neighbourhood of Macassar, these 2 GB4 zoned properties sit in a safe and convenient pocket ready for any investor or developer to take full advantage of!

This very familiar site within the neighbourhood previously known as the Sharcass Centre, once serviced the entire neighbourhood solely for all necessities before a Shoprite opened up an kilometre away and the seller decided to retire.  Prior to the opening of the Shoprite, this centre had turnover in excess of R500,000 per month!

Currently being used as a local superette downstairs to long standing tenants, with 2 massive apartments upstairs (of which most space is vacant), this property is bringing in ±R48,000 per month / ±R576,000 per annum.

With the perfect zoning, parking facilities available right around the property and no neighbouring buildings, this property is ideal for redevelopment to create a mix used complex hosting retail facilities at the bottom as well as apartments above it.  The best part about this is that is has been recommended by the community in terms of requirements!  (CLAREMART CAN ASSIST WITH ADVISORY ON DEVELOPMENT).

Alternatively, with some resources, restoring this property and adding additional tenants could prove to bring back a worthwhile return on investments.  (CLAREMART WILL ALSO ASSIST WITH LEASING EACH AVAILABLE UNIT FOR THE PURCHASER).

Property features:

• General Business 4 zoning
• 2 Properties on their own erf
• 325m² Per property (650m² total)
• Current income:  ±R48,000 per month / ±R576,000 per annum
• Redevelopment opportunity
• Beautiful views of wrap around green planes
• Major investment opportunity
• Very few competitive businesses in the surrounds.

Details:

• Erf number (Extent):  1010, Macassar (325m²)
• Erf number (Extent):  1011, Macassar (325m²)
• Rates:  ±R5,100.00 per month
• Zoning:  General Business 4

Web Ref:  610043

Transfer Duty Applicable

Payment Terms:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Sachin Boyjoonauth  |  068 259 2425  |  sachin@claremart.com

Zaneeq Osman  |  064 507 4900  |  zaneeq@claremart.com

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: info@claremart.co.za