Apartment For Sale in Pinetown

Property description

- Investment Opportunity: Premier Retail and Office Complex in Central Pinetown

-Property Overview:

Presenting a distinguished retail and office complex prominently located at the corner of King Street and Glenugie Road, Pinetown. This strategically positioned asset, directly across from Pine Crest Centre, is now available for acquisition at R23 million.

Key Property Details:

- Total Floor Area: 3,960 m²
- Price Per Square Meter: R5,810
- Total Purchase Price: R23 million

-Building Specifications:

The property features a ground-floor retail component and three dedicated office floors. It boasts ample parking facilities with 59 basement parking bays and 26 open-air bays, ensuring convenience for tenants and visitors.

Two elevators service the office levels, enhancing accessibility and efficiency.

The complex currently generates a gross income of R4.3 million per annum, with potential to increase to R5.3 million per annum.

The power supply includes 600 amps, three-phase for the office floors, catering to the needs of various business operations. The building was formerly used by SARS.

- Zoning and Development Potential:

- Zoning: Mixed Use
- Floor Area Ratio (FAR): 5
- Bulk Available: Opportunity for additional development

-Additional Information:

- Price: Excludes VAT
- Brokerage: Exclusively available through Swindon Property

Seize this exceptional investment opportunity to own a prime commercial asset in a thriving location. Contact Swindon Property today to explore further details and arrange a viewing.