Description:
Bustling Retail
Residential apartments:
5 × Studio 33 m² (no balcony)
54 × Studio 33 m² (with balcony)
5 × 1 Bed 33 m² (with balcony)
2 × 1 Bed Small 32 m²
7 × 1 Bed Medium 40 m²
1 × 1 Bed Medium 42 m²
6 × 1 Bed Large 48 m²
12 × 1 Bed Large 55 m²
6 × 2 Bed Medium 70 m²
1× 2 Bed Small 64 m²
9 × Studios Small 25 m²
Retail shops - Basement 8 storeys with retail on the ground floor and basement GLA 8 272 m²- Stand size: 1000 m²- Across from Cambridge Foods Hillbrow, Nandos, and walking distance from Hillbrow.
Also nearby are FNB Bank, Shoprite Hillbrow, Coca Cola Jamaica Hillbrow. Reya Via nearby - High demand area- 108 Units and 7 retail shops- Income * R486,162.32 - Expenses@30% * R145,848.70 - Net Monthly Income * R340,313.62 - Net Annual Income * R4,083,763.49-
Note: (*) values with an asterix are estimated market-related rates, current rates are well below market value Current Gross R 3.000.000.00 due to funding structure, the asset is under grossly underutilized.
PROPERTY UPSIDE:- The current owners financed the purchaser of the building with the Social Housing Foundation / Social Housing Regulatory Authority. This meant the current landlord was obliged to charge rental well below the market norm.
The building is wholly owned and unsectionalized. The foot traffic in the area presents a very attractive opportunity for retail on the ground floor.
The 1st floor of the building is an open plan area currently not occupied, a further 15 units 33 m² can be created. The property presents an excellent opportunity for a student res accommodation |
