Commercial For Sale in Melville, Johannesburg

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Asking Price : R 7 950 000 (531 772 EUR*)

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Province:Gauteng City:Johannesburg Suburb:Melville

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Retail shops and restaurants on single ERF in Prime Location

Physical property:

Situated in prime position on the corner 4th Avenue and 7th Street with 4 shops on 7th with on-street window frontage. 1 shop situated at the back which serves as a bakery. Beautiful traditional buildings with dbl volume pressed ceilings and gracious yesteryear character. Property includes back drive in service entrance, with bathrooms, change rooms, storerooms and office. Property forms part of the "old Melville" high-street where retail is vibrant and booming and vacancy is minimal.

Legal:

Zoning business 1, 6 storeys height permissible subject to planning guidelines (upper levels would have the best Jozi skyline views around). Income: 4 x triple net leases (inclusive of consumables and rates and taxes) in place yielding R760k net annual income. If purchasing with a VAT entity a zero-rating can be achieved on transaction subject to SARS approval.

General:
Established long standing tenant majority (some are an "institution" so to speak) Excellent income stream, prize asset to acquire, capital growth potential of note, extra development potential in terms of the allowance and all round feel good attractive option.