Commercial for sale
Community-focused living for healthcare professionals, steps from Nelson Mandela Academic and Umtata hospitals; secure gated complex with controlled access, ample covered parking, and 315 fully tenanted apartments yielding 12%.
PRIME MEDICAL-RELATED RESIDENTIAL INVESTMENT – SISSON STREET
For Sale: R235,600,000 | 315-Unit Apartment Complex | Fully Tenanted | Yield: 11.50%
Presenting an exceptional, high-yielding residential investment opportunity with an unparalleled tenant covenant. This 315-unit apartment complex is strategically located to serve two major healthcare institutions and is fully occupied under two secure, long-term contracts, delivering a robust return on investment.
Investment Overview:
This well-maintained residential complex comprises multiple separate blocks across a vast 46,440m2 site. It offers a unique and secure income stream, purpose-built to house healthcare professionals and staff from the adjacent hospitals, ensuring consistent, guaranteed occupancy.
Unmatched Investment Highlights:
Exceptional, Secure Yield: Generating a formidable 12% Return on Investment, this asset provides a stable and predictable income with significant upside potential.
Institutional-Grade Tenancy: 100% occupancy is secured via two direct contracts with major public sector tenants:
Nelson Mandela Academic Hospital (NMAH)
Umtata General Hospital (UGH)
This virtually eliminates tenant default risk and voids costly leasing commissions and vacancy rates.
Unbeatable Proximity to Anchor Tenants:
700m (2-minute drive) to Nelson Mandela Academic Hospital
1.1km (3-minute drive) to Umtata General Hospital
The location is irreplaceable for its target tenant market, guaranteeing perpetual demand.
Significant Scale & Land Value: The portfolio consists of 315 individual apartments with a total floor area of 19,556m2, situated on a massive 46,440m2 erf, offering potential for future densification or development (subject to approvals).
Secure & Managed Complex: The asset includes extensive covered and open parking and is secured by a controlled access point with a guard house, ensuring the safety of tenants and the security of the investment.
Financial & Property Details:
Asking Price: R246,750,000
Total Floor Area: 19,556m2
Rate per m2: R12,620
Land Size (Erf): 46,440m2
Number of Units: 315 Apartments
Return on Investment (ROI): 12%
Occupancy: 100% (Fully Tenanted)
This is a rare opportunity to acquire a substantial, purpose-driven residential asset with a government-backed income stream. It is ideal for institutional investors, property funds, and syndicates seeking a low-management, high-performance investment with defensive characteristics.
For a detailed financial breakdown, tenant contracts, and a confidential viewing, please contact Taps.
Listed for sale at R246,750,000
Price reduced by 4.5% to R235,600,000
Fort Gale is a well-established, centrally located residential suburb in Mthatha that offers a convenient lifestyle with easy access to essential urban services, schools, and major transport routes.
