R2,700,000 Selling Price - Commercial property, Office space, Office unit
SOLE MANDATE – MANAGED BY US
The Property is located in Century City, Cape Town.
The current lease agreement expires at the end of November 2016 but the tenant will most likely renew the lease agreement for at least an additional period of twelve months.
This is a AAA Grade building with excellent finishes and a beautiful reception area, which was completed in 2010.
The building is situated in a prime location, just off Ratanga Road.
The office is mostly open plan with 2 x offices and a small boardroom. The office is a corner unit so there is plenty of natural light coming in. There is a kitchen area and A/C but shared ablutions for the ground floor occupants. There are 23 units in total over 3 floors.
The seller has not provided us with a selling price but is inviting market related offers.
The Gatehouse, Century Way, Century City
Office = 99 m²
Terrace = 29 m²
3 x Basement Bays + 1 x Open Courtyard Bay
RATES + LEVIES (PER MONTH)
Municipal Valuation: R2,300,000 (2015)
Levies: R3,149.59 + VAT
INVESTMENT ANALYSIS (EX. VAT)
Projected Gross Annual Income @ R24,390 pm R 292,680
Rates R 29,436
Levies R 37,795
Net Annual Income R 225,449
Selling Price R 2 700 000
Initial Yield 8.35%