This is a Golden Development opportunity in the heart of Sea Point. The plan as per design currently available is for 5 units each between 90 and 125sqm.
- Underground Parking
- Plans available (approved in principle)
- Demo permit in place
- Gr2
- 537sqm ERF
ROI gross as per feasibility 30% with a net ROI of 16% anticipated. Depending on financial budgeting and work flow management these numbers could be improved. Too good to pass on!
For further information a consultation and market valuation can be drawn up. The current going rate for units of this size and with a modern spec sits at around 45 to 55k per sqm with the top unit possibly reaching 60 -66k per sqm depending on finishing schedule.
The property is currently tenanted with a 3month termination clause. However, the tenant would be happy to stay on until due time, as he has been residing in the property for numerous years.
