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Auction Date: 14/03/2018     Start: 12:00     Commercial Property

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Ferndale, Randburg - 1186m² Office Block | Multi-Property Auction

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Ferndale, Randburg - 1186m² Office Block | Multi-Property Auction

Double story office block within complex.
The office can be utilized as one office or let as 4 offices, as there are 4 office wings.
The main entrance features a reception desk, kitchen, and toilets.

North wing ground floor: 6 offices, an additional 2 large open plan offices, and 1 x storeroom.
The South wing ground floor consists of 3 offices, an additional open plan office space. This wing was let at time of publishing.
The first-floor reception contains toilets, kitchen and access to the large balcony with built in braai.
The north wing first floor consists of 14 offices, 2 additional open plan offices, and balcony access.
The south wing first floor consists of 7 offices, bar room, and balcony access.

There are +/- 34 Parking bays.

The office block is situated within a secure complex and has 24 security.

At time of publishing: The whole premises was let on a triple nett lease for R95,000 per month. The tenant moved out recently due to liquidation. A portion of the premises is currently let to a tenant for R11,500 per month of which is on a month to month basis.

There is potential for sectional title conversion of which some progress towards this has been actioned.
Situated on a busy main road which offers great signage potential.
With current market rental estimates, there is a potential rental income of at R90,000 – R100,000 per month.

Land size: 1689m²

Property Size:
GLA:
1186m²
Property size: 402m²

The monthly rates is +/- R9,000
The monthly levy is +/- R8,000

Auctioneer Details

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Ptn 3, 6,7 & 8 Of Erf 589 - Arma Park, 27 Bond St, Ferndale, Randburg, Gauteng
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