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Auction Date: 19/11/2019     Start: 12:00     Residential Property

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Linden, Johannesburg - Prime Location with Income

Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income Linden, Johannesburg - Prime Location with Income

PRIME LOCATION IN LINDEN WITH INCOME

PROPERTY DESCRIPTION
This property is in a prime location on the corner of 7th street and 1st avenue (main road) Linden with good exposure. The existing buildings have been converted from a residential house with 6 beds + and several bathrooms, consist of garaging for 4 vehicles, a north-facing garden with pool and outbuildings. There is currently in a tenant in place and they have called the property Tranquility House. The tenant business is a premier alcohol and drug rehabilitation clinic. The lease commencement date was 1st March 2017 and runs for 5 years expiring on the 1st May 2022. The rental is R32 310.00 p.m. excl VAT and has an annual escalation of 10%. The tenant has an option to renew for a further 60 months. Clause 4.1. The tenant is responsible for payment of all consumables on the property including but not limited to electricity, water, gas, refuse removal and sewerage.

Features
Residential house converted into a rehabilitation clinic.
Garaging for five (5) vehicles.
North facing garden with large trees, water feature and swimming pool.
Outbuildings used for large meetings and conferences.
Five-year lease agreement in place with rental income.
Good exposure on 1st Avenue (Main road) Linden

PROPERTY ADDRESS: 132 , 7th Street, Linden, JHB, Gauteng
AUCTION ADDRESS: Masingita House, 41, West Street, Houghton, Johannesburg, Gauteng

KEY FEATURES: ERF SIZE: 1735m2

Jasper@auctioninc.co.za