Offices / Retail in the CBD, 22 & 24 Gladstone Street, (Sterling House), East London
Extent: ± 655 m² | GLA: ± 1 440 m² | Gross Annual Income: ± R780K | Partially leased
This commercial triple storey building consists of 3 retail units on the ground floor, as well as offices on the remaining two floors. Centrally located in the East London CBD, close to universities and with easy access to transport networks. It offers 16 lettable units of which 11 are currently occupied by tenants with a total GLA of ± 1 440 m². The rental income is approximately R65 000 per month (there is further income potential as the second floor is currently vacant) There is also a development opportunity to convert the top two floors into residential/student accommodation.
East London is a city on the Indian Ocean, in South Africa’s Eastern Cape. It’s known for its beaches, such as Nahoon and Cove Rock. Elephants, lions, zebras and other wildlife roam in several nearby game reserves.
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