Retail space in a business centre

Property Details

This a two-storey commercial and residential building in the very heart of Kleinmond comprising 38 sections. Of these, Sections 1-15 and 37-38 are residential apartments on the upper floor. Sections 16-36 are commercial sections on the ground floor, with the exception of Section 16 being on the upper floor. On sale are Sections 16-36, comprising a total 1 298sqm of commercial letting space. This includes 242sqm of Section 16 on the upper floor, which is currently open rooftop after a restaurant that used to be on the premises burnt down several years ago. The roof and walls were demolished at the time but never rebuilt. The tenant mix on the ground floor currently comprises a plumbing business, laundry, pet shop, charity shop, and a takeaways. The remainder of the letting space, about half of the total lettable space, is currently vacant/unoccupied as the owner had these leases expire. Current leases are month-to-month. Sections 16-36 are sold as a single bundle out of a VAT-registered company – i.e. the entire ground floor together with the open roof section. The premises is situated next to several other commercial centres. The building sits on an erf of 2 323sqm, the remainder comprising common property used as parking for the commercial sections and the residence apartments above. The sections on sale have a PQ of 61.1111% of the total building space. The Body Corporate financials, house and conduct rules, site and section plans, individual section income and expense sheets, and PQ breakdown are available for review.