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Tap into vibrant student life in Johannesburg’s lively academic quarter, steps from WITS and UJ. Mixed-use retail centre with 10 bachelor units and seven shops on busy main road.
4 Marie Road in Richmond is ideally situated in the heart of Johannesburg's most vibrant student district, just a short distance from key institutions like WITS and UJ, both within a 2 km radius. This property presents a unique chance to manage a peaceful, conveniently located neighborhood retail center in a sustainable and secure environment. With its proximity to campus and located on a bustling main road, this property offers significant potential for growth.
Key Features of the Asset:
- 10 Bachelor Units
- 7 Retail Units
- Security deposits are collected from each tenant (Retail: two months’ rent; Residential: one month’s rent) - No interest is accrued on held deposits
- All leases are month-to-month, with the exception of the following:
- Shop 4: Three-year lease, expiring 31/01/2029
- Shop 5: Three-year lease, expiring 31/01/2029
- Shop 2B: Lease expiring 30/09/2026
- Stand Size: 1400 m2 (Extent)
- Gross Lettable Area (GLA): 805 m2
- Zoning: Commercial (Mixed Use)
- Income: R1,695,435.24 per annum
- Total Expenses: R373,889.38 per annum
- Net Income: R1,321,545.87 per annum
- Rental guarantee for one year on residential units
- Rates & Taxes: R7,307.76 per month
* Monthly costs are estimates and should be confirmed with the agent.
Listed for sale at R6,500,000
Richmond is a quiet, centrally located residential suburb that offers residents convenient access to the vibrant business hubs of Milpark and Auckland Park while maintaining a peaceful, established neighborhood atmosphere.
* Distances and amenities are approximate.
