Office & Retail Property East London Central

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

DECEASED ESTATE

East London, Eastern Cape

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.

AUCT-000981 | SOLD