***SOLE MANDATE***

This fully let convenience retail centre is a diamond in the rough. It is well located on the Kommetjie Main Road, which is undergoing upgrades that will further improve access to the centre and the adjacent Sasol Service Station.

The demand for space at this precinct is impressive and the right investor can extract more value. The property is zoned General Industrial 1 but operates under a letter of consent use.

The centre is anchored by Foodzone, but Baker Street Properties has Letters of Intent from various national grocer anchors that would immediately add value to the centre. This is a unique opportunity to acquire all three ervens and prepare for a redevelopment of the centre. An extension of the grocery store would increase GLA and provide a box of 1 500m²+ for a Shoprite or Boxer.

Other notable national tenants, such as Hungry Lion and KFC, eagerly await an opportunity to open an on-site store.

There is a sizeable low-cost housing development taking place directly behind the retail centre. This incoming residential development will further boost footfall in the centre. There is already an established customer base from Masiphumelele township and the centre is highly accessible to customers on foot or via motor vehicles.

David Yach also has various off-market disposals available for purchase including service stations, retail centres and industrial assets in the Western Cape.

For more information or to arrange a viewing, please contact David Yach. Read more...