East London property for sale

Property Price: R5,200,000
Commercial in East London: 150m from the Esplanade is this successful self contained conference center. The property is located in a popular zone where the promotion of tourism is the core business function for most of the surrounding properties. The good demand for overnight accommodation and the shortages of venues specialising in conferencing / training in the Buffalo City area ensure that this venue is well patronised.
The building also lends itself to conversion to offices. The operation may be sold as a going concern or the conference business may be separated and the buildings sold without the conference business.
There is 1050m2 of letable area and 1214m2 of land. Zoning is Residential zone 6, Hotel, Boarding House, Guest House, Lodges & Flats.
At R59m2 average rental rate a net yield of 12% will be achieved.
- Property East London

East London Property

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East London Property Contact

Brian Kinnear
Fresh Property Group
Tel: 27824503571
Cell: 27824503571

Reference: 1137260

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