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Prime position, with endless options and possibilities. Mykonos
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 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 with a UK resident & SA resident (both UK citizens). The current solo owner is the SA resident seeking retirement.
There are many options available commercially, redesigning or converting existing units. Could be drive-thru eating, mini office units, etc. Rates are in the region of R12,500pm. Electricity is variable at ± R11,000pm, 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 capitalize 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!
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Disclaimer: While every representation will be made by Lew Geffen Sotheby's International Realty to ensure that the information contained within the website is accurate and up to date, makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
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