Commercial / Industrial property in Margate, KwaZulu-Natal for sale

Location: Erasmus Road, Margate Industrial. Near to Pick n Pay, Checkers, Bus-Stop Development. On Route to Margate main shopping centre. Opposite Royal Bakery
Erf: Lot 2617, Erasmus Road, Margate
Zoning: Light Industrial
Permitted Uses: Commercial Workshops, Garage, Storage, Wholesale Warehousing, Light Industry
Uses by Consent: Recreation, Funeral Parlour, Laundrette, Public Office, Vet Clinic, Service Station
Land Extent: 1787 sq.m ( selling at approx R 250 psm)
Building: 1025 sqm ( selling at approx R 1230 psm )
Tenant Leases: Month to Month
Income: Current R 17 000 pm with potential of R 25 000 pm ( R 300 000 pa) at R 24.39 psm
Expenses: Approx R 3550 pm
Yield: Current 9,6 % - Potential 15 % pa
Selling Price: R 1 680 000 plus VAT
Finance: Seller willing to provide purchaser with a bond if a deposit of R 700 000 is paid