LOT NOT SOLD
CLOSING BID
Landmark Property In Observatory
Bidding opens at R6,500,000
ONLINE AUCTION
Bidding Start Time: Wednesday 24 April 2024 @ 09:00
Bidding End Time: Thursday 25 April 2024 @ 14:30
Registration is essential by Monday 22 April 2024.
Pre-Auction Offers may be considered. Auction Finance Available.
For more information, please contact the listing agent.
DESCRIPTION:
An opportunity to purchase a part of history. Located in the best node, amongst the hip bars and restaurants. This building has a lot to offer. Currently the home of Pancho’s, one of Cape Town’s renowned and best Mexican restaurants. Established over 40 years ago, Pancho’s has been a landmark in Observatory and known amongst locals and internationally.
The building is currently run as a fully equipped 250-seater restaurant.
Ground floor includes:
- Road exposure and window seating
- Bar/cocktail area
- Multiple seating areas
- Ablution facilities for male and female guests
- Full commercial kitchen
Second floor includes:
- Multiple seating area
- Large enclosed balcony overlooking the popular Lower Main Road
- Ablution facilities
- Smaller kitchen which comes with a vintage dumbwaiter
- A roof top deck bar and cocktail lounge area with beautiful view of the mountain, great for those summer evenings.
Second Floor Unique Feature:
- Residential accommodation which includes a large bedroom with built-in cupboard.
- Full modern bathroom with corner bath tub, twin shower and his & hers basins.
PLEASE NOTE: The purchase price is only for the property and not equipment, fixtures and furniture.
This can be purchased at an extra cost. An opportunity exists to purchase this well-established turnkey and fully equipped business. NDA will need to be completed should further information be required.
DETAILS:
- Erf no: 27008, Cape Town
- Erf size: 299m²
- Rates: TBC
- Zoning: General Business 1
Web Ref: 706160
Transfer Duty Applicable
PAYMENT TERMS:
2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only. Balance payable on Transfer.
Shameer Isaacs | 081 759 8302 | 021 425 8822 | [email protected]
Eduardo Silveira | 072 575 4273 | 021 425 8822 | [email protected]
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