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STUDENT ACCOMODATION WITH GREAT DOUBLE DIGIT RETURNS! - KINGSVIEW COMMERCIAL PROPERTY AUCTION IN CAPE TOWN, WESTERN CAPE AUCTIONED BY CLAREMART AUCTIONEERS

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CAPE TOWN - COMMERCIAL PROPERTY, INVESTMENT PROPERTY

STUDENT ACCOMODATION WITH GREAT DOUBLE DIGIT RETURNS! - KINGSVIEW

DESCRIPTION:

10 Kiepersol Street Kingsview White River

FEATURES:

BIDDING OPENS AT R55,000,000

ONLINE AUCTION

Bidding Start Time: Wednesday 28 July 2021 @ 9:00AM

Bidding End Time: Thursday 29 July 2021 @ 2:30PM

Registration is essential before Tuesday 27 July @ 2:00PM

For more information, please contact the listing agent.

Description:

This well-maintained student accommodation is situated within 40km from Nelspruit and is accredited by Tshwane University of Technology and is sold as a going concern with a well-managed team running the residence, bus for student transport, and is 100% occupied. The residence is close to centres and very convenient for students shopping, food and whatever they desire. This property is situated on two erven and has a breakdown of Portion 1 and Portion 2. There is a boundary wall between the two portions and both portions can use the soccer field and netball field. THIS IS A VAT TRANSACTION.

TOTAL INCOME - R9264 000 pa

PORTION 1:

• Accredited by University of Mpumalanga

• Rental in paid by University

• Income - R2 880 000 pa

• 2 Blocks

• 60 beds

• 60 Students

• 10 kitchens

• 20 Bathrooms

• DSTV

• Study hall

• Good Security

• Electric fencing

• CCTV

• Ample parking for students & visitors

PORTION 2:

• Accredited by University of Mpumalanga

• Rental in paid by University

• Income - R6 384 000 pa

• 3 Blocks

• 33 units

• 133 students

• 33 kitchens

• 33 Bathrooms

• DSTV

• Good Security

• Electric fencing

• CCTV

• Ample parking for students & visitors

Details:

• Erf no: 216

• Erf size: 16 852 m²

• Erf no: 216-2

• Erf size: 4 954 m²

• Rates p.m.: ± R11998.00

Payment Terms:

2.5% Deposit & 10% Auctioneers fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer.

Registration Requirements:

To bid at the auction you need to provide a copy of your identity document and current proof of residence (not older than 3 months) as well as a R20,000 refundable registration fee.

Disclaimer:

The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Auctioneers. Bidders must conduct their own investigations prior to bidding.


 
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