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Prime develoipment Opportunity On Main Road In Student Central
R 50,000,000
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14 days ago42 views
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General Details
Location:
Description
Observatory is a suburb in Cape Town that Mowbray borders to the South, and Salt River to the Northwest. It is the home of the South African Astronomical Observatory headquarters, Groote Schuur Hospital as well as new developments like the 2U Global Head Office, and My Domain Student Housing, to name a few. The Amazon Headquarters for Africa and Riverlands development is also being developed nearby. This 319 & 321 Main Road site is nestled in an area central to all of these new developments, and is a prime development opportunity, given the following:
Erf Size: 2354sqm
Zoning: General Business 5
Coverage Allowance: 100%
Floor Factor Allowance: 4
Height Restriction: 25 meters with current zoning
PERMISSIBLE BULK: 9,416sqm
The subject property is located on a prominent and easily accessible corner of Main Road in Observatory. There is a high rate of passing trade along Main Road, being one of the primary arterials leading through Observatory, and connecting to the CBD, and surrounding areas such as Rondebosch and Claremont. The site is situated within close proximity to the Groote Schuur Hospital, along with its various UCT medical school faculty buildings. The suburb’s proximity to the University of Cape Town (UCT) and its Medical School, has always made it popular with students and lecturers. Observatory has long had a vibrant entertainment scene, with most restaurants and retail shops along Lower Main Road. There has also been a significant amount of upgrading and renovation of commercial buildings, and gentrification in the area over the last 5 years.
Property Reference #: CL13389
Agent Details:
Daniel Botha
Annenberg Property Group
Office 2D
Matrix
8 Bridgeway
Century City
7441
Bridgeway
Century City
7441
Erf Size: 2354sqm
Zoning: General Business 5
Coverage Allowance: 100%
Floor Factor Allowance: 4
Height Restriction: 25 meters with current zoning
PERMISSIBLE BULK: 9,416sqm
The subject property is located on a prominent and easily accessible corner of Main Road in Observatory. There is a high rate of passing trade along Main Road, being one of the primary arterials leading through Observatory, and connecting to the CBD, and surrounding areas such as Rondebosch and Claremont. The site is situated within close proximity to the Groote Schuur Hospital, along with its various UCT medical school faculty buildings. The suburb’s proximity to the University of Cape Town (UCT) and its Medical School, has always made it popular with students and lecturers. Observatory has long had a vibrant entertainment scene, with most restaurants and retail shops along Lower Main Road. There has also been a significant amount of upgrading and renovation of commercial buildings, and gentrification in the area over the last 5 years.
Property Reference #: CL13389
Agent Details:
Daniel Botha
Annenberg Property Group
Office 2D
Matrix
8 Bridgeway
Century City
7441
Bridgeway
Century City
7441
Id Subtitle 1275222432
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Estimated monthly repaymentR 541,854
Total property loan amountR 50,000,000
Total interestR 80,044,848
Total repaymentR 130,044,848
Interest rate at 11.75% for 20 years *
* The interest rate is by default set to the prime lending rate. Banking institutions may choose to lend to individuals at a rate above or below this prime rate.
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Annenberg Property Group
Selling for 7+ years
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