Ruyterwacht block of flats with re­tail po­ten­tial up for grabs

Weekend Argus (Saturday Edition) - - PROPERTY -

NEXUS Prop­erty Group are pre­par­ing to auc­tion a re­tail and res­i­den­tial block of flats in Ruyterwacht on Thurs­day.

“This ten­anted block of flats has a large re­tail com­po­nent with an at­trac­tive short-term yield. There is con­sid­er­able po­ten­tial for in­creased turnover, as rentals for the res­i­den­tial and re­tail ten­ants are cur­rently below mar­ket value,” says Nexus sales direc­tor, Bren­don Levin.

The 3 941m² prop­erty at 3 Paul Kruger Av­enue con­sists of 12 large flats, eight shops, am­ple off-street park­ing and se­cure garages.

Levin says the seller is re­tir­ing and down­siz­ing his port­fo­lio, so the prop­erty is com­ing to mar­ket for the first time in 15 years.

Levin says the prop­erty is suited to in­vestors who want to en­hance the value of their port­fo­lios.

“The an­chor re­tail ten­ant in the block – the Saverite Su­per­mar­ket – re­cently signed a new five-year lease. The store trades well with a large catch­ment area as it is the only re­tail out­let of this size in the Ruyterwacht res­i­den­tial node.

A R50 000 re­fund­able de­posit and FICA doc­u­ments are re­quired to reg­is­ter for the auc­tion. The auc­tion will take place at noon at the Nexus premises at 125 Waterkant Street, Green Point.

For de­tails, call Levin on 084 588 8852 or Robert Shaff on 072 195 1211 to reg­is­ter or to ar­range a view­ing, or visit www.nexus­prop­erty.co.za.

This mixed-use build­ing at 3 Paul Kruger Av­enue, Ruyterwacht will be auc­tioned on Thurs­day.

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