Vacant Land / Plot for Sale in Point Waterfront

PRIME REFURBISHMENT & DEVELOPMENT OPPORTUNITY RESTORE THE HISTORIC “ANCHOR INN” TO IS FORMER GLORY PLANS FOR A BOUTIQUE HOTEL / B&B ESTABLISHMENT AVAILABLE INVESTMENT OPPORTUITY IN A PRIME SOUGHT AFTER LOCATION Property Information The original Anchor Hotel, which was designed and built back in 1891. This historic, AMAFA registered, Art Deco building, dating back to 1891, is now available for sale and restoration. It is situated at a prime location not the Point Waterfront, at 172 Mahatma Ghandi Road (Point Road), which is located in the "historic quarter" of the Point Waterfront. This exceptionally well located, historic building, at the very entrance to the sought after Point Waterfront Precinct. Through collaboration between the owners and the municipality, 172 Mahatma Ghandi Road, originally known as "The Anchor Hotel”, the municipality are keen to see the building undergo a re-instatement of the property into its original design. This process will be guided by AMAFA. The seller is a very keen seller and reduced the price from R8,5 million to very fair price of only R6,5 million. Re-development Opportunity The buyer will have the opportunity to renovate and restore this wonderful historic building and turn it into a destination boutique hotel or up-market historic B&B establishment. Local architects, Emmett Architects, who have been involved in developments within the Point Waterfront to the last 10 years, have conceptualised an exciting re-design for this building, converting it into a 22 room B&B / boutique hotel, complete with 22 self-catering rooms, a reception, a conference room, plus a lounge, restaurant and bar area, plus a roof top entertainment / bar area, which will offer wonderful harbour views. Restore and own this wonderful historic hotel, which could offer an investor, lucrative returns and it could be totally re-developed at an estimated total cost of R28 million, which includes the purchase price of the property. Trish Emmett will be happy to meet with potential purchasers for this property, to discuss the various opportunities that this valuable, extremely well positioned site offers site present. PROPERTY DETAILS Physical Address : 172 Mahatma Gandhi Road, Point Waterfront Lot Number : Lot 3 Block C, Point No. 4535 Site footprint : 372 Sq meters Height : 4 floor building (in need of renovation) Bulk : +/- 2,976 (8 x footprint bulk as per architect) - excludes parking floors Zoning : General Business (central) - see Site Zoning. Was originally operated as Lodge, with a tavern and offices downstairs Selling Price : R6,5 million The following information is available on request, should you wish to explore this wonderful development opportunity further : • Original "Anchor Hotel” Plans • Ne Design Draft Plans & Renderings • Order Of Magnitude - Re-development Costings • Site Zoning Document • Title Deed • Municipal Rates Account