Property features

R15 000 000

Property Details

This restaurant space, located at 101 Hout Street in the Cape Town City Centre, is for sale. The space is fully fitted and furnished and will be sold "AS IS". The space measures 443m² and comprises Section 3 and 4. The space previously operated as Zsa Zsa and has been replaced by another restaurant. The purchaser will be purchasing the Lease Hold with 73 years remaining on it. A new lease agreement has been entered into with a well-established tenant that starts on 1 January 2025 and runs for 5 years. The lease escalates at 8.0% p.a. and the tenant pays all the expenses. A more detailed breakdown of the rental and expenses will be provided on request. The CBD offers a strong commercial and retail presence with the tax beneficial Urban Development Zone (UDZ) extending from the CBD through to Maitland and the Southern Suburbs. The City bowl offers convenient office space, usable public spaces, great restaurants, bars and theatres mostly set in attractive Victorian buildings.