Commercial Property for auction in Paarl Central East

R2,500,000
  1. Web Ref: 1097060
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Property Features

ERF Size 2,747 m²
Rates R1,519
Building Size 1287m²
Home Owner Levies R6,055

RETAIL SHOP PLUS ADDITIONAL OFFICE SPACE

Going on Auction: Wednesday 28 April 2021 at 12 Noon
Reserve Price: R2 500 000.00 (All offers will be reviewed)
Non-refundable 10% commission plus VAT over and above purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)

Seller is prepared to sign a head lease for 12 months at R35 000 per month.
The Retail Shop at The Towers is occupied by a national tenant (Hollard Life Assurance). The lease is renewed annually on 1December, with a rental increase of 6% (current rental is R12 647.92 per month + V.A.T.).
The Office Space is directly above the Retail Shop (separate access or access from the Retail Shop), and is currently vacant(projected rental of R18 600.00 per month plus V.A.T.)

Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A "Reserve Price" is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property's market value, nor the amount the property is likely to be sold for on the day of the auction

Location

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