Office & Retail Property East London Central

AUCT-000981 | SOLD

Office & Retail Property East London Central

22 & 24 Gladstone Street, East London, Eastern Cape

Offices / Retail in the CBD, 22 & 24 Gladstone Street (Sterling House), East London

DECEASED ESTATE


Estate Late: MA Yazbek - Masters Ref. No. 2187/2017

Combined Extent: ± 655 m² | GLA: ± 1 479 m² |Partially let

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.

To participate in this physical auction each bidder has to follow the registration procedures.

Commercial Type:
Office Space
Web Reference:
AUCT-000981
Final price:
POA
Address:
22 & 24 Gladstone Street, East London, Eastern Cape
Property Extent:
±655 m2
Auction Venue:
The Buffalo Club
1 Buffalo Park Drive
East London
Eastern Cape
Auction Date:
30 July 2019 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by bank guaranteed cheque. No cash. ID Document is required.

Bidding opens in


Auction Date: 30 July 2019 11:00:00am


In2assets Properties
                                                         In2assets Representative

Property Agent


In2assets Properties
Show number
[email protected]


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