This unique sale in the leafy Wynberg - Chelsea Village offers both commercial and residential space with its Local Business Zone 2 zoning. It is situated on the corner of Wolfe and Lonsdale Roads.
The original property comprised 2 erfs (both zoned residential) which have been consolidated into one erf comprising commercial 140m2 leasing space and 110m2 residential space. There is an application with the City of Cape Town to convert the existing residential space to commercial - retail and or office.
The commercial side of the property has 8 parking spaces dedicated to it with a generator and an outside patio area which leads into the shop. The shop area is over two floors and with two bathrooms for customers. It has a state of the art camera system and the premises are fully electrified in terms of fencing. The existing tenant has a lease until 31st October 2024.
The residential side of the property has 1 parking space dedicated to it and comprises an outside patio and braai area which leads into the kitchen. The kitchen adjoins the dining area which in itself leads to the passage way and downstairs toilet. Upstairs comprises a lounge area at the top of the stairwell as well as the first bedroom and separate shower. The main bedroom has its own en-suite bathroom with shower. As stated above, there is an application with the City of Cape Town to convert the residential into commercial space.
Both rental incomes amount to a 8.3% return on current asking price.
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