Exceptional Investment Opportunity
Located at Mykonos Access Road, this outstanding property features 11 fully functional vacation units, perfect for generating immediate short-term rental income.
Its prime location in a bustling street offers unparalleled exposure and foot traffic, making it an attractive opportunity for overseas investors seeking a lucrative return on investment. Very central/prime commercial area adjacent to Laguna Mall. Commercial zoned property of 3000m2, partially developed as 11 freestanding 1-bedroom, 4-sleeper chalets, 6 pitch roof/thatch roof open-plan units & 5 flat roof 1-bedroom, 4-sleeper units. Plus 1 building used as an office. 12 structures in total covering 50% of the property.
Apartment blocks have risen around, and another 200 are planned nearby, 200/300 meters away. Currently, a hub for development. Major well-established local resort & casino, Club Mykonos Casino Resort, 500m away, seafront. Built in the 1980s.
The whole area is turning into a major semigration region with many developments within a 2/3km radius and further public facilities planned. This is ascertainable with the local Saldanha Bay Municipality.
Currently, the property has 2 entrances, set up as a drive-thru self-catering rental complex. Registered for VAT and is registered as a closed corporation. If the CC is bought with the property, no VAT will be due.
It was originally bought via the UK in 2004 by a UK resident & SA resident (both UK citizens). The current solo owner is a South African resident seeking retirement.
There are many options available commercially, such as redesigning or converting existing units. Could be drive-thru eating, mini office units, etc.
Rates are in the region of R12,500 per month. Electricity is variable at ± R11,000 per month, which includes 3-phase power availability for multi-story accommodation development. Two previous plans are available as a potential option.
Whether you′re looking to capitalise on existing rental income or planning to redevelop the property, this exceptional investment opportunity awaits
Don′t miss this exceptional opportunity to invest in a prime commercial property with vast potential for growth and development. Contact us today to schedule a viewing
