The area is characterized by commercial activities and developments including but not limited to retail centers and office blocks. The area experiences high vehicular and human traffic during the day and is highly favored for the prevailing commercial user.
The improvements are a very old (1929) single commercial block of approx. 6,000 sqft
The property will be sold free of encumbrances and the dilapidated buildings were taken down. The property can be considered as a plot for redevelopment and should not attract any VAT.
The property was ready to be redeveloped with 2 basements for parking and 6 floors of commercial spaces. All approvals have been obtained and could be attributed to future buyers.