Development opportunity | Fully tenanted | Observatory
Fully tenanted development opportunity in Observatory, the home of student accommodation. This building has a prominent location on Observatory main road, and is bounded by two side streets creating two corner shops. The site has high exposure, and long shop frontage onto Observatory Main Road. Observatory main road has high passing foot traffic, making it ideal for retail.
Observatory's proximity to UCT and UCT medical school has made it home to a large amount of student accommodation, this site is no exception, and with permissible bulk of 9412 m2 it is a perfect opportunity for student accommodation. The zoning is General Business 5 which has versatile usages which would include, apartments, student accommodation, hospital, or hotel. Observatory is an up and coming area which has seen significant investment over the past couple of years, with most of the investment in apartment blocks and student accommodation.
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