This prime piece of real estate in the heart of Somerset West offers endless potential for development and expansion.
With a vast expanse of 3229 square meters, this Heritage site is one of the last open sites in this highly sought-after location. Currently comprising of three unique buildings, the site boasts a total of 16 units, ranging from cozy bachelor apartments to spacious one-bedroom apartments. These units generate an impressive rental income, with monthly rates ranging from R6000 to R7500 per unit. But that's not all - the surrounding area has been cleared and approved for further development, making this an even more attractive investment opportunity. With proposed plans already in place, this GR2 zoned site is ready for a potential two to three-story building.
The
location couldn't be more ideal, situated across from a school and in close proximity to all necessary amenities. Additionally, being near the railway station means parking spaces per unit are forfeited, offering a significant advantage for developers. This property is perfectly suited for a variety of uses, including residential, commercial, or even a combination of both. Don't let this incredible opportunity slip through your fingers. Contact us today to obtain further information and arrange a viewing. Our team is eager to showcase the immense potential that this unique property holds. Take the first step towards securing your future and invest in this prime piece of real estate in Cape Town CBD.
Read more...
Show Contact Number
