700m² Building For Sale in Observatory

Solid Mixed-Use building for sale on Main Road in Observatory. There is permissible bulk for additional floors to be added on. The area is highly accessible and is the home of the South African Astronomical Observatory headquarters, Groote Schuur Hospital as well as new developments like the Peak Studios (student housing) 2U Global Head Office, and My Domain Student Housing, to name a few. The Amazon Headquarters for Africa and Riverlands development is also being developed nearby. There is a national tenant on the ground floor paying R44,000 per month and their lease expires in 2025. This 370A Main Road site is nestled in an area central to all of these new developments, and is a prime development opportunity or owner-occupier opportunity, given the following:

Erf Size: 455sqm

Zoning: Mixed-Use 2

Coverage Allowance: 100%

Floor Factor Allowance: 4

Height Restriction: 25 meters with current zoning

PERMISSIBLE BULK: 1365sqm

NOTE THAT THIS LISTING DOES NOT INCLUDE PHOTOS OR VIDEO CONTENT OF THE GROUND FLOOR

Additional features include a goods hoist to the 1st floor(currently vacant), a strongroom, 3 phase power, 5 parking bays directly outside the unit, a rooftop that can be converted into an entertainment deck with exceptional views, great signage opportunities etc. Please give me a call to discuss this property or arrange a viewing.