Retail Space 32 Stiebeuel Street, Franschhoek, Franschhoek

This 1,585m² retail centre in Groendal, Franschhoek is fully occupied with a strong tenant mix—including Pick n Pay, fast food, cellular, furniture, and funeral services—plus four flats and a freestanding house on site.

The property sits on a 2,057m² erf with great visibility and consistent foot traffic from Le Roux Road and Stiebeuel Street.

Pick n Pay anchors the centre on a 5-year lease (Feb 2023–Feb 2028), now transitioning from QualiSave, with CPI-linked escalations. The setup includes cold storage, a deli, and bakery section. On top of that, one long-standing tenant has been trading here for over 15 years and personally owns three of the rental businesses—bringing serious stability to the mix.

Solid income, low maintenance, and a clean lease profile make this one an easy fit for any investor looking at retail in the winelands.

Property highlights:

• 1,585m² GLA on 2,057m² erf

• Fully let, five retail tenants

• Pick n Pay lease in place

• Freezer, bakery, deli sections

• 4 flats + 1 house onsite

• Visibility from two main roads

Rental & Investment Overview:

• Net Annual Income: R2,241,492.42

• Asking Price: R25,500,000

• Net Yield: ±8.79%

• Annual Expenses: R125,752.68

• Projected Gross Income: R2,367,245.10

Why this one works:

• Long-standing tenant stability

• One operator, three businesses

• National anchor: Pick n Pay

• Mixed-use: retail + residential

• CPI-linked lease escalations

• Excellent corner site exposure

Get in touch to request the full investment pack or to set up a private viewing. It’s rare to find a fully-let, mixed-use asset like this with a stable, diversified tenant base in Franschhoek.