R 999 999 999 | retail property for sale in observatory

This fully tenanted commercial and residential redevelopment opportunity offers a wide range of potentials. Situated on Observatory's vibrant lower Main Road the building has high visibility and is in a busy traffic zone. Currently unsectionalised and situated within the City of Cape Town's Urban Development Zone (UDZ) tax incentive scheme the potential of the building is exceptional. 63 Lower Main Road, is situated near UCT, Groote Schuur Hospital, is centrally located on all major public transport routes, and is in an area where student housing is in high demand. Presently the building is divided into four retail positions with high foot traffic, and four spacious apartments with balconies overlooking Lower Main Road. Workshops and storage surround a large yard at the back of the building which could easily be converted to parking or be expanded to add revenue. Sold Mandate