Investment Property : Prime Retail Space Available for Purchase in Popular Harrington Street
INVESTMENT OPPORTUNITY - 9% NET YIELD
Current tenant just signed on a 3 year lease with renewal (Possibility of purchasing at a 9% net yield with large capital appreciation potential).
Amazing ground floor retail space in a new development available for purchase: Internal size of 241sqm, outdoor lane of 180sqm can be leased for R125/sqm gross if required.
Highlights of the space include:
- Eight Opening Double Doors to the Public. - Access to the lane - A prime location on Harrington Street, which has undergone big development, and is still undergoing even bigger development in The Easy City. - The prime retailer will be able to provide food and drinks to the 48 short stay apartment hotels units above the retail space, in The Harri. - The retailer will also be able to operate normally to walk-in trade, and can serve on uber eats and Mr D, therefore there are essentially three revenue streams of income. - Access for trucks to offload supplies in a secure environment. - Cameras installed in and around the building. - There is a 24-hour concierge at the Harri, which can be utilised. - The Landlord is offering a Tenant Installation Allowance for every year of a lease signed, either a month of beneficial occupation will be given, or a month of a Tenant Installation Allowance. - Liquor license has already been secured and is transferable to any new retailer. - The space can be cut into two spaces, or even four if necessary. - Option to Purchase: R6.7 million Excl Vat. translating to a 9% net yield ex VAT
Contact for additional information or to arrange a viewing
Cape Town CBD is located between the Atlantic Ocean and the slopes of Table Mountain, Cape Town is one of South Africas most dynamic and cosmopolitan centres. The CBD forms the core of the City of Cape Towns economy and houses the heart of its municipal and provincial government administration as well as the countrys houses of parliament. As one of South Africas safest and best kept urban environments, the CBD has...
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