R 27 000 000 | building property for sale in salt river

This exciting conversion opportunity is ideally located in the heart of the mixed-use hub Salt River. The property is boarded by Friend Street, Factory Road and Brickfield and is positioned close to the Salt River Circle, allowing easy access the major arterial roads such as the N1, N2, M3 and M5. There is also excellent access to nearby public transport including Salt River Train Station and MyCiti Bus Routes. This building, which sits on an erf size of 1933sqm, consists of a 600sqm basement(parking) 1600sqm ground-floor and 1250sqm first-floor - all with roller-shutter access. There are various tenants in the building and all have redevelopment clauses in their leases, allowing any buyer to generate income of roughly R160,000 per month (excl VAT) while planning a development, and being able to give all tenants notice when they are ready to develop The property is zoned mixed-use 2 which allows for a floor factor of 4 and there is a total bulk of 7732sqm available. For more information on this property or others like it please contact the area specialist Daniel Botha