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Victoria Rd , Woodstock Building Sold for R4.15M

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Victoria Rd , Woodstock Building Sold for R4.15M


Reaffirming the ongoing revitalisation of Woodstock, which is conveniently situated just minutes from Cape Town's vibrant central city, a well situated commercial building at 15 Victoria Road has been sold to an investor by Pam Golding Commercial leasing, sales and investment consultant Selwyn Sharon for R4.15 million.



Comments Sharon: "The investor, Mukhtar Joonas, who resides on the Atlantic Seaboard and has business interests both locally and in Mauritius, had the vision and foresight to snap up this property and has already completely refurbished the exterior. With approximately 34m of retail frontage onto busy Victoria Road, which leads directly into the city of Cape Town and also provides easy access to other major routes, the property is very well positioned. Adjacent to the property is an improvement zone, with other retail facilities in the area adding to the passing trade.

"The current tenant is on a short lease and the owner is now seeking one or more tenants to take up occupation in the building, which comprises 1350sqm of lettable space in total, including secure basement parking for 10 vehicles and ground floor retail / office or showroom accommodation. Once a tenant is secured, the owner will refurbish the interior. The rental rate for just one tenant is R35 per square metre, and R55 per square metre for multiple small tenants," says Sharon.

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