Retail Centre With Development Potential

OPENING BIDS TO BE ADJUSTED ONE DAY PRIOR TO AUCTION.

ONLINE AUCTION

Bidding Start Time: Tuesday 29 April 2025 @ 09:00

Bidding End Time: Wednesday 30 April 2025 @ 14:30

Registration is essential by Friday 25 April 2025.

Pre-Auction Offers may be considered.  Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

Discover The Opportunity Of A Lifetime.

The historical town of Riebeek Kasteel has been a sought-after area for Swartland in recent years – this premium commercial property perfectly situated on the main road in the most popular tourist and retirement community node and has thrived on its local art scene, picturesque wedding venues and weekly community functions.

Known as the Square, this property provides great opportunities for rental income, business operation and value extension through its bulk potential. Currently generating solid income from its existing tenant mix, we have also given potential buyers the option to acquire the anchor business that operates on-site. Lock, stock and barrel.

Whether you are looking for retail, office, or hospitality needs, this property has the perfect platform to grow this charming town and foster stronger community engagement and upliftment.

Property specifications:

• Fully tenanted - 100% occupied mixed-use
• 8 Total units - retail, residential, office, restaurant
• Open space parking directly opposite
• Current rental income ±R25,235 per month (±R302,820 per annum), Potential Income ±R63,235 per month (±R758,820 per annum)
• Business Turnover (last 6 months) ±R462,000
• Financials available on request (NDA’s required)
• Features: Ablutions / foyer area / yard area
• Bulk Potential available for value-adds (3,345m² bulk, 6 floors, no parking requirements)
• Secured interest from national anchor tenants if developer willing to redevelop site

In-house Letting & Development services for investors looking for tenants & secured leases OR redevelopment.

Exclusive Commercial Finance can be arranged.

Viewings are scheduled by appointment, contact Sachin & Rob for more info or OTP.

DETAILS:

• Erf No:  148, Riebeek Kasteel
• Erf Size:  1,115m²
• Rates:  TBC
• Zoning:  Business

Web Ref:  732209

VAT Applicable

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.

Sachin Boyjoonauth | 068 259 2425 | 021 425 8822 | [email protected]

Rob Stefanutto | 083 556 6861 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]