10 Highgate Street is a high performing, buy-to-let investment opportunity located in Maitland. It's centrally located and within walking distance to major transport centers like the train station, bus terminals and designated taxi waiting areas.
The property was renovated last year and there are minimal monthly maintenance costs currently incurred. It consists of eight bachelor units and two fully fitted, communal kitchens. Each unit has an en-suite bathroom (shower only), gas geysers which significantly reduces running costs, parquet wooden flooring and freestanding wardrobes. Both kitchens are fitted with built-in top and bottom cupboards and gas stoves.
It's fully tenanted at rentals ranging between R3800 to R4100 per unit and is currently managed by Propsmart (Pty) Ltd, a property management and collection agency based in Century City.
10 Highgate Street is an ideal site for the development of inclusionary housing. A permit for Total Demolition was granted by Heritage Western Cape on 3 April 2019. This permit is valid for 3 years. City of Cape Town's Integrated Human Settlements Framework found that an additional 650 000 inclusionary housing opportunities at an estimated cost of R101billion over the next 20 years must be provided.
Existing site information:
Erf number: 24311
Erf size: 486m²
Existing dwelling: 250m²
Zoning: General Residential 4
Permissible coverage: 60%
Floor factor: 1.5
Permissible bulk: 729m²
Contact us for more information or to schedule a viewing.
SecurityBurglar bars on all windows