An exciting new sectional title retail node has become available in Montague Gardens – offering high yields for investors at the same time as offering massive retail exposure to tenants.

The Gallery, a 5500m2 retail and office complex which faces onto Koeberg Road at its busy intersection with Montague Drive has been upgraded and registered as sectional title by a consortium of new owners, who are now selling this package of desirable retail units, with national tenants in place, at a price of R22 Million.

The property was originally the head offices and distribution centre for Cape Franchising, who owned the Western Cape master franchise for Steers and Debonairs.  In 2006 it was sold to the Paramount property fund for R43 Million. Paramount was then acquired by Growthpoint properties Ltd. who earmarked The Gallery for disposal in 2011 as it was a non-core asset.

Guy de la Porte, an independent commercial and industrial property specialist, brokered the deal between Growthpoint and the consortium and is now handling the sale of the sectional title units.

“These retail units are offering a 10.5% investment yield that will appeal to a market where high yielding properties are scarce,” says de la Porte.  “Also on offer to the investor occupier is a unique, highly visible 2400m2showroom/warehouse with offices and a private yard at the rear as well as raised loading docks.  The unit has floor drainage, three phase power and its offices have balconies with beautiful table mountain views.”

According to de la Porte the property is flexible in design and would suit any wholesale, retail or distribution business needing high retail exposure and is competitively priced at R11,5 Million excluding VAT.