Web Ref No CLS2244

BUILDING WITH GENERAL BUSINESS 4 ZONING IN STUDENT ACCOMMODATION HUB

R21 000 000 Including VAT.

Freestanding commercial landmark located in Glenlilly, Parow that's just come on the market and is under Exclusive Sole Mandate.

There are easy access points from the N1 and Voortrekker Roads making it a great location for tenants, their customers and staff.

This building has recently been very well renovated and upgraded by the seller at substantial cost and features ground floor retail space, which is partially leased, along with a larger retail space that was recently vacated and has been upgraded and faces busy Voortrekker Road.

The section/shops are equipped with separate ablution and toilet facilities to provide comfort to tenants and their clients.

There are plans to convert the first floor into apartments, while the rear section of the ground floor has already been converted into student housing.

Due to the building not being sold as a going concern, VAT is not included in the sale price. The Trust which owns the building is not registered for VAT, so transfer duty is payable, but if the purchaser is registered, the buyer may be able to claim it back from SARS.

A General Business 4 zoning classification permits the property to be used for the following purposes: residential, second residential, boarding house, flats, educational, religious, institutional, hospital, assembly, entertainment, hotel, conference facility, services trade, authority use, utility services, rooftop base telecommunication station, multiple parking garages, private roads, [and] open space, veterinary practice, and filming locations.

A great property with available bulk in a great location for mixed use development in a prime location with high pedestrian traffic and visibility.

* Parking is available behind the building.
* There's a private enclosed yard at the back of the building, as well as covered and open parking bays.
* Solid structure that was built for a bank, so it's structurally sound and in pristine shape.
* Great location with lots of signage potential
* Located in the CPUT student housing hub

A MUST-SEE FOR THE ASTUTE INVESTOR!

Viewings are by appointment only.