Commercial - Retail for Sale in New Redruth

Description

Accepting Offers. DESCRIPTION: Bargain Investment- Add This Commercial Gem To Your Portfolio. This mixed used corner building offers the most convenient and central pocket within New Redruth. Presenting a 2 storey property with redevelopment potential that is wedged perfectly in the heart of bustling work professionals, local commuters and students that occupy the area on a daily basis. Ideally suited for retailers & traders, manufacturers, day & night life activities, or hybrid retail/residential space. Located within walking distance from shopping malls such as Lemon Tree, New Market, Westpack Lifestyle and Alberton in addition to the Netcare hospital, to name a few. Surrounded by plenty of retail shops, businesses and educational institutions to choose from, as well as all public transport routes. Current Property Features: • Erf size 2,232m² & Estimated GLA 1,721m² • Building comprises of 6 x Front-end Retail shops, 2 x Office, 2 x Factory units, 1 x Residence, 2 x Storeroom • Tenancy Mix: Supermarkets, Chemical store, Printing services, Food/Take-Aways, Short-term Lender, Tattoo shop • Current leases in place with long-standing tenants. Lease terms varies per tenant. • Total gross income ±R91,000 per month (±R1,092,000 per annum) • Total expenses ±R15,325 per month (±R183,900 per annum) incl recoveries (rates & taxes: ±R10,325, recoveries: ±R5,190] • Total net income ±R75,675 per month (±R908,100 per annum) • Cap rate at current occupancy = 9% (at full occupancy 13%) • Dual access from main road & yard • Secured parking for tenants only, off-street parking all around complex for customers • Current power supply 3-phased • Pre-paid water & electricity meters on-site • Fire safety compliance in place • Potential value additions or upgrades include security, ablutions, storerooms, solar panels on roof, advertising signage, to name a few • VAT application transaction. All offers welcomed, contact Sachin & Rob for more info or OTP. Exclusive Commercial finance available. DETAILS: • Erf no: 621, New Redruth • Erf size: 2232m² • Zoning: Business 1 DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.