This lucrative property in George, presents a rare investment opportunity in one of the area''s most established and sought-after business corridors.
Positioned on a main public transport route and surrounded by commercial properties, it offers exceptional flexibility for residential development, business use, or a combination of both.
The property currently consists of a 2-bedroom house with office space and a bachelor flat with tenants in place, generating an estimated rental income of R25,000 to R28,000 per month.
For investors, this provides immediate income while future development plans are explored.What makes this property particularly attractive is its development potential.
An independent developer has indicated that up to 18 apartment units of approximately 58m² each could potentially be built on the site, with ground-floor basement parking. The property may also be subdivided into two separate plots, creating further opportunities for residential development.
Business rights can be applied for through the municipality, adding another layer of value to an already versatile property. This is more than just a residential propertyit''s a strategic investment with multiple income and growth opportunities in a prime George location.