R 1 895 000 | business property to rent in amanzimtoti

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Property Description


This commercial business premises opportunity is for the savvy investment buyer looking to secure a key location in the heart of the old Amanzimtoti cbd district. Opposite the local post office, around the corner from a new busy BP and Take n' Pay Supermarket and across from a bustling taxi rank, this little collection of shops is situated in a busy arcade, adjacent to the N2 freeway off the main arterial route through town. There is also a well known hardware shop which has just relocated back into the cbd opposite the main shop. Street parking available. Currently the larger of these three sectional title unit shops @ 180 sqm with corner frontage on the arcade and situated on the main road has recently been tenanted by a national insurance firm, securing a 5 year lease at an 8% escalation with an option for renewal. It comprises a smaller office off the main area, kitchenette and toilets. A small storage area has also been converted from an ATM point which the previous tenant, a national bank of many years provided. The other 2 shops @ 22 and 51 sqm respectively are tenanted by a driving school and a hair dressing salon and operate on a month to month basis. Both businesses have been in occupation for some time and would prefer to remain there, however the current owners have left those two options reasonably open for a prospective buyer's plans going forward. Gross rental income R25,700 p/m Gross expenses R8,924.17 Net current income R16,775.83 p/m (allowance must be made for 'anchor' lease renewal @ 8% escalation future growth for 5 years minimum) CALL NOW TO VIEW Seeff Amanzimtoti is part of the Seeff South Africa and International Groups. Seeff is one of Southern Africa?s most established real estate companies. Founded in 1964, the company has grown from a small, family-owned business to one of the leading property and real estate companies in Southern Africa, with close on 200 branches and over 1200 agents throughout South Africa, Namibia, Botswana, Zimbabwe, Zambia, Swaziland and Mauritius. Over the course of the past 52 years, Seeff has earned a respected reputation as a formidable player in Southern African residential property sales and rentals, property development projects, agriculture, commercial, business and industrial properties, combining experience gained over more than 50 years, with a flair for innovation and a commitment to excellence.


Property Details

RentalR 1 895 000

Building Size253 m2

Price Per SQMR 7490 m2

Land Size1045 m2

Type of PropertyBusiness

Last Updated22 Aug 2019

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Agent

Gavin Parkins

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