680 m² Commercial space in Grassy Park

Opening bid: R4 500 000.00 + Commissions.

Auction date: 28 January 2025 at 11am

Venue: 291 Klip Road, Grassy Park or Online

This versatile property, generating a net annum income of R564 000, combines both commercial and residential spaces, making it an ideal investment. Located along the high-traffic Klip Road, it features a semi-industrial wedding venue, a residential apartment block, and significant development potential. With excellent visibility, secure access, ample parking, and opportunities for expansion, this property offers great returns and future growth.

Building 1: Wedding Venue & Commercial Space

- Wedding Venue: 280m semi-industrial venue designed for large events, with a rustic industrial aesthetic.

- Second Floor: Office space and storage, with plans for future expansion to increase commercial capacity.

- Studio Apartment: 25m on-site apartment for security personnel, ensuring 24/7 monitoring.

- Parking: Approximately 20 parking spaces available for guests.

Development Potential: 1300m of remaining bulk for further commercial development.

Building 2: Residential Apartments

- Apartment Block: 150m, double-level block with 4 x 75m, 2-bedroom units, each with allocated parking.

- Exclusive Parking: Each apartment has its own parking space, separate from the wedding venue.

- Security: The entire property is secured with perimeter walls and gates, with access from Klip Road and Thomas Crescent.

- Development Potential: 820m of remaining bulk for future expansion or additional residential units.

Additional Features:

- High Exposure Location: Situated on the busy Klip Road, offering excellent visibility and easy access to major routes and public transport.

- Leases in Place: Stable rental income from both the wedding venue and apartments, with secure leases in place until 2026.

- Revenue Opportunities: Potential for additional income through signage and advertising on the property.

- Growth Potential: The property offers ample space for future development, making it an attractive option for investors looking for long-term growth.

This property offers a balanced mix of commercial and residential opportunities, providing immediate returns through its current leases and significant potential for expansion. With a strong income stream and development options, its an excellent investment for those seeking both short-term stability and long-term growth.