Commercial - Retail on Auction in Maitland

Description

LIVE & ONLINE AUCTION Auction Time & Date: Wednesday 8 July 2026 @ 12:00 Registration: Online & On-site at the Auction Venue. Venue: The DHL Stadium, Business Lounge G, Fritz Sonnenberg Road, Green Point, Cape Town For more information, please contact the listing agent. DESCRIPTION: Positioned on Voortrekker Road, this building has been an anchor in the Maitland and Kensington area. Easy access to public transport and main transport routes. Tenanted mixed-use building currently generating over ±R43,700 per month (±R524,400 per annum). Average return estimate at 11,75% per annum. Bulk potential of ±1,328m² addition. High-visibility zone for advertising revenue & solar generation. The investment possibilities are endless. • 3 x Front-facing, ground-floor retail shops. (Tenant mix is Superette, Groceries, Clothing). • 7 x Residential units (1 and 2 bed, 1 bath, lounge & kitchen). Prepaid electricity meters in each unit. Water on rates account. Tenants are long-standing. month-to-month leases currently. Recoveries from tenants. Only 1 vacancy at present. Currently unsectionalised block with Mixed Use 2 zoning in place. Development Potential: • FAR – 4x • Coverage - 100% • Height - 38m • Setbacks – 8m • Primary uses -business premises, mixed dwelling (block of flats), place of institution/worship/assembly/entertainment, hospital or clinic, film, hotel, etc. • Consent uses – adult services (retail and entertainment), expo centre, service station, motor vehicle repair garage, small-scale animal care, recycling centre, renewable energies, etc. All planning and applications to conform with COCT Municipal guidelines and procedures. Transfer Duty Applicable. DETAILS: • Erf no: 107941, Cape Town • Erf size: 332m² • Zoning: Mixed Use 2 PAYMENT TERMS: 2.5% Deposit & 10% Auctioneers' fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer. REGISTRATION REQUIREMENTS: To bid at the auction, you need to provide a copy of your identity document and current proof of residence (not older than 3 months), as well as a R25,000 refundable registration fee. Registration fee payable via EFT only, no card payments allowed. Registration will be available online as well as on site on the day of the auction. Registration at the venue will be open from 10:30. 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 Auctioneers. Bidders must conduct their own investigations prior to bidding.