Web Ref No CL1515

Situated on a corner in Umbilo Road this mixed-use building has 390 sqm of retail space on the ground floor and 5 flats on the first floor.

The ground floor retail space is fully let with leases in place with between 8 and 28 months to expiry.

The flats are rented out as student accommodation at R 3000 per student with a total capacity of 15 students. Alternatively, the flats can be rented out as normal family units.

On a fully let basis at a purchase price of R 7.5m the net return amounts to just under 12 %.