1,990m² Restaurant For Sale in Penzance Estate
R21,000,000
Kronendal
Web Ref No TPC68
Beautiful Heritage Building with good rental return.
The “Kronendal Homestead” is a beautiful Cape Dutch building and Provincial Heritage site.
The total property consists of 2 erven, as follows:
1. Kronendal Homestead – ERF 7779 (140 Main Rd, Hout Bay)
Erf size: 4142 sqm
Zoning: GB1
Total lettable area: 1777 sqm (incl. exterior seating area/ courtyards for DEUS; excluding parking and
common areas)
Please note that this ERF is a provincial heritage site because of the historic Kronendal Homestead.
The “Office Park” buildings (units 1 -6) are not historic.
1. Klein Kronendal – ERF 677 (140 Main Rd, Hout Bay)
ERF size: 812 sqm
Zoning: SR1 (rezoning application to GB1 submitted)
Total lettable area: 213 sqm (excl. parking, garden and stoep)
With the anchor tenant being Deus Ex Machina Restaurant, the other tenants include Sealand Gear, CrossFit Gym, a Physio, a Barber and Fibre Company.
Asking price for both properties is R 21 000 000 plus VAT, which equates to an approximate rental yield of 9.2% after operating costs.
Current rental income is R2,224,525 gross per annum.
There is plenty of parking with 4 parking areas in total.
The properties are only sold together.
The total property consists of 2 erven, as follows:
1. Kronendal Homestead – ERF 7779 (140 Main Rd, Hout Bay)
Erf size: 4142 sqm
Zoning: GB1
Total lettable area: 1777 sqm (incl. exterior seating area/ courtyards for DEUS; excluding parking and
common areas)
Please note that this ERF is a provincial heritage site because of the historic Kronendal Homestead.
The “Office Park” buildings (units 1 -6) are not historic.
1. Klein Kronendal – ERF 677 (140 Main Rd, Hout Bay)
ERF size: 812 sqm
Zoning: SR1 (rezoning application to GB1 submitted)
Total lettable area: 213 sqm (excl. parking, garden and stoep)
With the anchor tenant being Deus Ex Machina Restaurant, the other tenants include Sealand Gear, CrossFit Gym, a Physio, a Barber and Fibre Company.
Asking price for both properties is R 21 000 000 plus VAT, which equates to an approximate rental yield of 9.2% after operating costs.
Current rental income is R2,224,525 gross per annum.
There is plenty of parking with 4 parking areas in total.
The properties are only sold together.
Features
Open Parkings 25
Building Name Kronendal
Zoning Commercial
Monthly Rates R12,160.00pm Excl. VAT
Floor Size 1,990m²
Land Size 4,954m²
Security Yes
Building Name Kronendal
Zoning Commercial
Monthly Rates R12,160.00pm Excl. VAT
Floor Size 1,990m²
Land Size 4,954m²
Security Yes
Broker Contact Details
Michael Bester
Tyson Properties Atlantic Seaboard
Cell 083 488 0484
Office (021) 4340615
WhatsApp Me
Tyson Properties Atlantic Seaboard
Cell 083 488 0484
Office (021) 4340615
WhatsApp Me
Message the Agent
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