R 13 180 000 | retail property for sale in cape town

Property Description


GENERAL This building is located in the Heart of Cape Town City, has high ceilings and wooden flooring with great potential and beautiful views of the Harbor and surrounds. The land size is 228m2 and the internal floor space is approximately 460m2. The property is zoned C5 with 100% coverage. Excellent business opportunity. extent of Building : 450 sq over both floors Registration Division : Cape RD Title Deed No : T92704/2004 The subject stand is zoned General Business Zoning : General Commercial FAR/Bulk : 6.8 Height : 25m (See section 67(1) in the accompanying attachments) Coverage : 100% Habitable Room Factor : 34 Set Backs : See Height Restrictions Note that the bulk factor is 6.8 and the habitable room is 34. 228 x 6.8 = 1550 total development square meter without departures. In terms of development, if we plan for doing 14 flats, 7 stories, each flat at 110 square meters we can sell at 55,000.00 minimum. That will give us: 14 x 110 = 1540 total square meter. 1540 x 55,000.00 = 84,810,000.00 Total gross income. Usually the land comprises of 30% of the total Gross Income. In this instance, the land is only 5% of the total Gross Income. If we build at cost of 25000 per square then we have 25000.00 x 1540 = 38,000,000.00 building cost 38,000,000.00 17,000,000.00 land cost = 55,500,000.00 total expenses.


Property Details

Purchase PriceR 13 180 000

Building Size460 m2

Price Per SQMR 28652 m2

Type of PropertyRetail

Land Size228 m2

Last Updated04 Feb 2019

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Agent

Johan Miller

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