R 50 000 000 | Commercial Property for Sale in Pretoria Central

Asking price r50 000 000.00

SALE: Share Transfer - NO TRANSFER DUTY

LOCATION Erf 767, Pretoria Central
ZONING Zone 4
Height 9 levels (Ground plus 8)
AGE +- 35 Years
ERF NR AND SIZE Erf 767 (1 276m²),
PARKING None at building, but options in immediate surrounding

FEATURES AND FACILITIES CCTV Surveillance cameras at all entrances and lifts.
2 x Utility Elevators – newly upgraded.
1 x Fire Escape Staircase.
1 x Office with Storage facility.
1 x Restroom and bathroom which can be converted not a Caretaker apartment.
1 x Laundry facility with basins and washing machines.
1 x Washing Lines.
1 x Open Patio Area with artificial lawn.
Prepaid Electricity with 152 meters in each apartment.
Water is included in the rent.
Wifi is freely available to tenants.
2 x 10 000 kl water reserve tanks on roof.
1 x Reception area with security counter and Biometric Security entrance door.
1 x Refuge area where dustbins are stored.

VACANCIES Mostly 100% full, maximum 5% at certain times like year-end.

AVERAGE INCOME PM Residential Income +-R600 000 P/M
+-R7 000 000.00 P/A

CURRENT EXPENSES PM Municipal Sewer R12 000.00
Water R31 000.00
Wifi R9 300.00
Refuse R18 000.00
Prepaid Electricity (R130 000.00) recovered from tenants
Maintenance, cleaning and repairs R5 000.00 – r15 000.00


ESTIMATED STUDENT BEDS
POTENTIAL INCOME 416 x beds - No partitioning required
416 x R5 000.00 pm x 10 months = R20 800 000.00 P/A Gross

Minimal conversion needed with no partitioning required. Dept of Education require 8m2 per student or 14m2 per 2 students sharing.
Need to furnish the apartments with curtains, beds, study desks, microwave, fridge, study lamps and upgrade the security system and laundry.
Additional entertainment/study areas could be considered on the rooftop with the necessary Health and Safety requirement.

CONFIGURATION & APARTMENT MIX RESIDENTIAL
152 x ONE BEDROOM APARTMENTS
- 56 x large 1 bedrooms (30m²) Rent R4 500 to R4 700.00
- 96 x medium 1 bedrooms (25 - 28m²) Rent 3 450.00 to R4 000.00

COMMERCIAL
4 x Shops in total
- Romans Pizza 175m2
- KFC 387m2
- ABSA ATM 16m2
- TAKE-AWAY TUCK SHOP 124m2

GLA
4 352m2 Residential apartments
703m2 Commercial shops
5 055m2 Total Lettable GLA

LOCATION
- 500m from Gautrain Station
- 907m from TVET University Pretoria Central
- 1km from Unisa Main Campus

Contact us to view this valuable property.