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

Property Details

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.