Modern Building for sale, fully let and ideal for NSFAS Student Accommodation

Residential building in brilliant location close to the Gautrain PTA Cbd station.

THE BUILDING

- Fully let with working tenants and students.

- Newly revamped and upgraded.

- CCTV network throughout the building. (entrances, exits, each floor and at lifts)

- No load shedding area.

- Heat Pump Geyser System.

- Biometric Access Control with Turnstile Gate.

- All fire equipment, OTIS lifts, emergency signage and lights in order, serviced and in working condition.

- Massive hall (410m2) which is a development opportunity to add more apartments/rooms or turn into indoor sport facility/study facility.

- Universal DSTV with WIFI (IV WEB) in whole building charged at R150.00 per month.

- 3 x Commercial/Retail Shops (119m2) currently let to a ministry and food outlet. Massive opportunity to cater for students with a take away, hair salon and internet cafe.

- Servant's quarters and office with beautiful front desk counter.

- Entertainment area with artificial lawn.

- Small gym facility on rooftop.

- Large rooftop entertainment facility with most beautiful views.

- No parking on premises, but on street secure parking in Visagie Street. Parking arranged at R250pm in adjacent building.

- Laundry facility with basins. No machines.

- Communal kitchens and bathrooms on each floor with energy saving Snappy Stoves.

- Communal areas cleaned.

APARTMENT MIX:

- 81 x Apartments in total which consists of -

- 60 x 18m2 rooms with communal kitchens and bathrooms and lounge area. R3 200.00 rent.

- 4 x 9m2 rooms with communal kitchens and bathrooms and lounge area. R2 600.00 rent.

- 4 x 24m2 rooms with communal kitchens and bathrooms and lounge area. R3 600.00 rent.

- 5 x Bachelor apartments 17 - 23m2 with en-suite bathrooms and own kitchen. R3 500.00 rent.

- 8 x One Bedroom apartments 27 - 30m2 with bathroom and own kitchen. R4 200.00 rent.

THE AREA

- Building is 3 blocks from Gautrain.

- Massive development in this area.

New Department of Agriculture and Land Reform will be completed early in 2023.

- 3 500 employees.

Growthpoint busy with TSHWANE GATEWAY DEVELOPMENT. +-3000 employees.

UNISA planning to build a campus opposite TSHWANE GATEWAY.

- Rental demand will increase and capital growth guaranteed.

THE FINANCES

- Current monthly gross income: R383 000.00

- Current Expenses: R60 000.00

- Current Net Income: R323 000,00

- Current Net Annual Income: R3 876 000.00

- Prepaid electricity and water bill gets split between tenants.

- Only rates and waste payable by landlord.(R5 500.00)

- Wifi paid by tenants @ R150.00 pm.

STUDENT ACCOMMODATION

- Share Transfer option: Only asset in company is this building. Do a share transfer and save R2.1m on transfer duty.

- Seller also registered for VAT, so Zero VAT transaction possible - save R2.1m transfer duty.

- Partition only 14 of the flats, rest just furnish and sleep 172 x students minimum.

- 2025 NSFAS Accommodation Grant is R5000.00. - single or double rooms (per student).

- NSFAS Student Accommodation potential income: R8.6m Gross Annual Income.

- Building already has CCTV, Biometric, Entertainment, Sports, Emergency Signage, Staff for cleaning, Caretaker and Security.

- 4 x 5000 liter heat pumps, reducing electricity costs with 25%. Massive save on geyser maintenance.

- Development opportunity at the hall section where more units can be developed.

- 3 x Shops in R15 000.00 currently, but could be a massive opportunity for higher income with student related products and services.

LOCATION

- To Gautrain: 1.9km

- To Unisa: 2km

- To TVET: 1.2km

- To TUT Main Campus: 6.4km

- TUT Arcadia Campus: 1.4km

DISCLAIMER:

We made every effort to ensure the accuracy of the information on this property at the time of listing.

It is advised that the purchaser does a thorough due diligence to verify the information.

Should any cost or detail change, the broker cannot be held liable for any omissions, errors or differences.