552 m² Commercial space in West Bank

R 3 500 000

Warwick Heny

RE/MAX-Kowie

552 m² Commercial space in West Bank

R 3 500 000

Can I afford this?
3 Beds
3 Baths
Floor Area 552 m²
Land Area 693 m²
Rates R 91685

Beautifully designed and built lifestyle property with residential and retail areas. The property is zoned for Business. This is the ideal opportunity to live on the premises and collect rental income from the 7 retail outlets who let from the sellers. Situated close to the Golf Club and Stenden University in an upmarket residential area, this brick and plaster property has a corrugated iron roof and powder coated aluminium windows throughout. It has been architecturally designed to best utilize space and indoor and outdoor areas. Presently offering 3 penthouse flats, and 7 retail shops all fully let by a coffee lounge/restaurant, a hair salon, a Laundromat, sport massage therapists, a Wine Boutique with Deli and Talking Radio. Rental income of R 30 000 pm or more depending on whether long or short term letting in the 3 penthouses. There are 17 000 l of rain water storage tanks, solar and gas geysers, and a 7.5 KW generator which allows full operation of the building in an emergency or outage. The Building size of 552 sqm is broken down into Covered areas: 428 sqm, Covered verandahs: 71 sqm and Open decks: 53 sqm. Besides the rentals, tenants pay a pro rata share of the monthly rates and taxes as well as their own electricity and water usage as each outlet has its own meters.

FLAT 1: +/- 47sqm, with open double volume mezzanine bedroom of 17sqm, bathroom with shower, laminate floor, small kitchen with 2 plate stove and microwave. Built in cupboard with mirror front doors. Built in room divider with wine rack,,and hanging cupboard. Huge terrace, half covered.

FLAT 2: 55sqm, built in kitchen with Bosch gas stove, extractor fan, hanging units and floor units. Screeded /tiled floors, 1 bedroom with built in cupboards, en suite bathroom with shower, 2 aluminium sliding doors leading to big covered balcony, equipped with Trellidors.

FLAT 3: 50sm unit with huge built in cupboard with mirror front doors, bathroom with family shower, 2 basins, sep. toilet. Aluminium sliding doors with 1 Trellidor. Big oak kitchen along the lounge wall with gas stove, oven and extractor fan. Built in dish washer. Suspended wooden floor. Built in broom cupboard with mirror door. Built in book/wine shelving. Covered balcony. safe. Currently let at R3500.00

SHOP 1 - DECADENT: 108 sqm, floor screeded and wood. 2 aluminium sliding doors with Trellidors. Built in counter, built in kitchen with sink, gas geyser, fresh rainwater tank of 2500L and rain water purification system. 2 Ovens, 1 hob and shelving, storeroom, canvas blinds around terrace, blinds on windows. 2 toilets, kitchen door with security gate.

SHOP 2 - D' VINE DELI: 21.36 sqm, tiled floor, built in kitchen screen and counter top, double sink and gas geyser. 3 Aluminum sliding doors. Vertical Blind, Built in wine wall with indirect lighting. Built in wine cooler and flat screen TV for marketing.

SHOP 3 - SALON FLORENCE: 32 sqm, tiled floor, sep storeroom with basin, gas water heating, aluminium sliding door and terrace.

SHOP 4 TALKING RADIO: 16.3 sqm, tiled floor, sep storeroom with sink. Air conditioning, alarm system. Aluminium sliding door and terrace.

SHOP 5 MASSAGE THERAPIST: 15.5 sqm, built in shower, wash basin, gas geyser, shelving, tiled floor. Vertical Blinds, Aluminium Doors and Windows

SHOP 6 - Vacant at present: 15.5 sqm, laminate floor, wash basin, Aluminium sliding door, vertical blinds.

SHOP 7 - WET-WEB: 15.5 sqm, small laundry, laminate floor, Aluminium sliding door with vertical blinds. Electricity wired and plumbed for a laundry. No staff - self run laundry so income varies per month - coin operated washing machine.

Passage of Art, fully fitted with Art Gallery Rail for ease of changing out art works.

Current monthly income approx R30 000.00

Certain monthly costs such as Garden/cleaner, municipal levies and Lights and water are recovered from tenants.

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Key Property Features

3
Bathrooms
3
Bedrooms

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552 m² Commercial space in West Bank

R 3 500 000

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