ONLINE AUCTION Bidding Start Time: Wednesday 25 January 2023 @ 09:00. Bidding End Time: Thursday 26 January 2023 @ 14:30. Registration is essential by Monday 23 January 2023. Pre-Auction Offers may be considered. Auction Finance Available. For more information, please contact the listing agent.
This 2-storey mixed use block is situated on busy Voortrekker Road, Parow with loads of foot traffic and easy access to all major motorways. All tenants have been there for years and are on a month-to-month lease and would like to stay on, but the seller does not want to sign new leases as he does not know what the potential new owner would like.
This building offers so many opportunities to an investor – develop, sectionalize or increase rents to market related prices with a potential of ±R530,000 per annum income. There is a lot of bulk left over if you want to develop.
Shop: • Shop let for R12,500.00 per month to a church (market related rental ±R16,000.00 per month). • Rental is below market value. • Kitchen. • Toilets. • Storage room size of a single garage. • Shop is big enough to make into 2 separate shops as there are 2 entrances.
Four Apartments: • 4 x 2-Bedroom apartments let for R4,000.00 per month each (market related rental ±R7,000.00 per month each). • Each apartment is 100m². • Each apartment has one bathroom. • Open plan lounge / dining room. • Kitchen. • Parquet flooring throughout each apartment. • Each apartment has an enclosed balcony. • Apartments are very spacious. • Secure parking for 8 cars. • Rentals are below market value. • Can be sectionalised. • GB4 Zoning.
Courtyard: • Enclosed area with private entrance. • Two-bedroom apartment that manager lives in.
Details: • Erf no: 9284, Parow • Erf size: 776m² • Rates: ±R3,049.00 per month • Zoning: General Business 4
Web Ref: 606494
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.