For Sale R2,700,000 Selling Price - Commercial Property For Sale, Featured Property, Office Unit For Sale

SOLE MANDATE – MANAGED BY US

The Property is located in Century City, Cape Town.

The current lease agreement expires at the end of November 2016 but the tenant will most likely renew the lease agreement for at least an additional period of twelve months.

This is a AAA Grade building with excellent finishes and a beautiful reception area, which was completed in 2010.

The building is situated in a prime location, just off Ratanga Road.

The office is mostly open plan with 2 x offices and a small boardroom. The office is a corner unit so there is plenty of natural light coming in. There is a kitchen area and A/C but shared ablutions for the ground floor occupants. There are 23 units in total over 3 floors.

The seller has not provided us with a selling price but is inviting market related offers.


ADDRESS

The Gatehouse, Century Way, Century City

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SCHEME NUMBER

Scheme Number 301/2010 – Part of a Sectional Title Park of 23 units


TOTAL AREA

Office = 99 m²

Terrace = 29 m²


PARKING

3 x Basement Bays + 1 x Open Courtyard Bay


RATES + LEVIES (PER MONTH)

Municipal Valuation:   R2,300,000 (2015)

Rates:                              R2,452.37

Levies:                            R3,149.59 + VAT


INVESTMENT ANALYSIS (EX. VAT)

Projected Gross Annual Income @ R24,390 pm R      292,680

Expenses

Rates                                                                            R           29,436

Levies                                                                          R            37,795

Net Annual Income                                                     R      225,449

Selling Price                                                                 R   2 700 000

Initial Yield                                                                       8.35%

 

 

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