1 666 m² Commercial space in Ferndale

BEST OFFER FROM R 3 999 000/ EXPECTED SELLING PRICE R 4 999 000

Offer Is An Offer

THE SELLER IS A VAT VENDOR AND PURCHASE PRICE INCLUDE VAT

SS P.D.T. Office Park comprises a total of ten (10) sections arranged in one building, essentially (originally) comprising of three (3) single storey shops, three (3) single storey offices, four (4) single storey warehouses and a utility room. The subject sale omprises all units/sections, and therefore the Participation Quota in the Scheme for the subject units are 100%. The subject property comprises a double-storey building offering a loosely U-shaped building footprint hosting ten (10) sectional title units varying in sizes between 69m to 411m. The ground floor hosts six of the ten units with the remaining four units positioned on the first floor. The sections as registered have, however, been altered and internally configured to accommodate multiple tenants, currently configured to accommodate approximately 19 units. Essentially, the units offer similar typical configurations, comprising mostly of open floor plans with some additional administrative and/or storage sections created mostly by means of drywall partitioning. Some of the configured units are internally linked, as well. Most of the units have been internally adapted to suit each of the tenants'' requirements, and includes facilities such as ablutions and kitchen areas. It appears that a portion of the

ground floor section has been extended, which does not appear to reflect as such on the sectional plans. In addition, the building further comprises two communal stairwells and an internal stairwell from Section 1 to the top floor, however, this has been closed off, as well as a utility room.

Additional Features Construction Fixtures and Finishes

The property further boasts the following additional features:

First floor balconies for street-facing unit(s).

Covered walkways/passages connecting the different units.

External floodlights.

Steel security gates and burglar bars fitted to some extents.

Some ground floor sections have been fitted with roller shutter access doors.

Fire safety equipment installed including fire hoses and extinguishers.

The building is mostly constructed of rendered and painted walls under a mostly flat

roofing structure of corrugated iron sheets or smooth concrete, with a pitched

section towards the back portion.

The units have essentially been finished to tenant specifications and requirements.

This mostly comprises of rendered and painted internal walls, concrete ceilings on

the ground floor and gypsum ceiling boards on the first floor. Floors are mostly

concrete or tiled, with some extents additionally featuring wooden floorboards and

some carpets.

Utilities All utility services are understood to be supplied by the Municipality, billed monthly in

arrears. Parking andamp Yard 6 x open parking bays directly in front of the building along Oxford Street.

6 x open parking bays fronting the eastern faade of the building. Parking yards are situated adjacent to the south and the west of the subject site which appears to be used / can be used by the tenants, however, no such agreements and/or rights appear to have been granted or registered.

Perimeter andamp Access The street-facing perimeters are mostly bounded by steel palisade fencing with the western and southern perimeter being mostly defined by the building wall(s). Some rendered and painted walls topped with electric fencing have been erected along the eastern perimeter. Access to the site is predominantly from the steel sliding gate from Oxford Street, however, an additional entrance with porch provides access to one of the first-floor sections / units from the neighbouring property to the west.

Power The units have been fitted with prepaid electricity meters for the respective tenants own accounts.

Gross Lettable Area 1,666m combined - based on a combination of Seller supplied information. See the rent roll and projection sections of this brochure for a breakdown of the lettable areas per unit (as configured) Occupation The property is multi-tenanted.

Condition The buildings are generally regarded to be in average condition with some ongoing repairs and maintenance required. We have not undertaken a structural survey of the buildings, nor have we arranged for tests or inspections of the service installations, but these appear to be in working order.

CURRENT GROSS RENTAL PER ANNUM R719 712,00

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