This is a very rare opportunity to acquire an excellent Investment Property in the Bo-Kaap.
The property with the well-known Biesmiellah Restaurant and the adjoining superette is a very prominent landmark in Bo-Kaap and is popular with locals and tourists alike.
The Bo-Kaap is considered a heritage site as the area contains the largest concentration of pre-1850 architecture in South Africa and is the oldest surviving neighbourhood in Cape Town according to the South African Heritage Agency.
The property in question requires little to no introduction to investors as it has been an integral piece of the Bo-Kaap community fabric for the past 50 years and is highly visible on the prominent corner of Wale and Pentz Streets.
The property is on 3 Erven under one title deed.
It is home to
the landmark Biesmiellah Restaurant and adjoining Superette both of which have been owner-run and managed for the past 50 years by the owners who are now looking to retire.
This investment property enjoys three revenue streams ;
the restaurant,
the superette,
and the three apartments on the first floor.
There is the possibility to increase the GLA further by building onto the first floor and thereby adding to the income stream.
This sale includes the land and buildings, as well as the restaurant and superette and is on a turn-key basis meaning a buyer can walk in and commence trading instantly.
The sale includes all fixtures and fittings in the restaurant and superette.
Financials and proof of income will be disclosed subject to an NDA being signed and proof of funds may be required from interested parties.
The property and the businesses are registered VAT entities and the asking price is subject to VAT so no transfer duty is payable on the sale.
Viewings will not be allowed during peak trading hours for obvious reasons and the preference is for viewings between 8.30am and 10.30 am prior to the lunch hour.
The restaurant currently does not open for breakfast despite the huge demand which highlights the potential to immediately increase the revenue stream further.
Contact us now to arrange a viewing by appointment.
Stealth Properties is registered with the PPRA
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