Prime redevelopment opportunity available in the heart of Observatory. Observatory is a suburb in Cape Town that is bordered by Mowbray to the south, and Salt River to the northwest. It is the home of the South African Astronomical Observatory headquarters as well as Groote Schuur Hospital. The suburb's proximity to the University of Cape Town (UCT) and its Medical School in particular, has always made it popular with students and lecturers. Observatory has long had a vibrant entertainment scene, with most restaurants and retail shops located along Lower Main road. There has also been a significant amount of upgrading and renovation of commercial buildings, and gentrification in the area over the last 5 years. The subject property is located on a prominent and easily accessible corner on Main Road in Observatory. There is a high rate of passing trade along Main Road, being one of the primary arterials leading through Observatory, and connecting to the CBD, and surrounding areas such as Rondebosch and Claremont. The site is situated within close proximity to the Groote Schuur Hospital, along with its various UCT medical school faculty buildings
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