US$6,500,000

Location!! Location!! Location!!

1St Street, Harare City Centre, Harare CBD
3,571 m² 3,570 m²
Located in the city center on the corner of Speke Avenue and First Street is this mature and majestic eight storey building, rising 30 meters tall from the ground level. This architectural styled property has withstood the test of time and has recently been refurbished to give it a fresh interior look.
Physical Characteristics
Retail Space- 1239sqm;
Office Space- 1764.39sqm;
Basement- 414sqm; has access from Speke Avenue to the reception of the building. Lifts from ground floor to 8th floor. Though needing service and replacement of sensors
Occupancy & Yield
First and second floors are currently occupied. Current tenants are paying $8, 00/sqm for the office space and between $20, 00 to $30, 00 on retails space. Due to the cosmetic renovations that were recently done, only the ground and the first floors are tenanted with a total of $34000 per month in rentals. However the building potential is about $60,000 with operational costs of about $11,000 variable with each month
Tenants can be offered 3 months’ notice.

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Kennan Properties

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Listing ref: KNP1574
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