150 Bram Fischer Drive

150 Bram Fischer Drive | Randburg | Johannesburg | 2194

Price on Application

LETTER OF INTEREST DEADLINE 07 OCTOBER 2021

PRIVATE TENDER CLOSED

Investment highlights

  • Fully vacant conversion opportunity or use by corporate owner occupier

  • Possible re-configuration as a sectionalised office scheme

  • Excellent exposure to Republic Road

  • Easy access to major arterial routes including the N1 Western Bypass and Jan Smuts Avenue

  • Neighbouring buildings are also for sale – allowing an investor to acquire control over the whole Bram Fisher Office Park 

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Location

The property is situated within the Randburg CBD, approximately 7km east of the Sandton CBD and 18km north west of the Johannesburg CBD. Randburg is an upmarket area to the northwest of the City of Johannesburg Metropolitan Municipality, neighboured by Sandton and Roodepoort.

Bram Fisher Office Park is situated on the corner of Bram Fischer Drive and Republic Road at the southern fringe of the Randburg CBD, directly opposite the Multichoice City complex. The property is accessible from the main entrance on Bram Fischer Drive.

Republic Road is a major thoroughfare that connects to William Nicol (which links to the N1 Highway) and Jan Smuts Avenue (which in turn links to Rosebank and Sandton).

There are a range of complementary amenities surrounding the property. These comprise various office parks (including the large Multichoice City Complex), shopping centres (such as the newly renovated Ferndale on Republic Centre) and established residential suburbs.

Description

The double-storey B-grade office block offers basement parking. Open brick paved visitor parking is offered in the areas between the property and the neighbouring office block.

The building is constructed in face brick under a pitched slate roof. Internal finishes are to previous tenant’s specifications and comprise of ceramic tiled and carpeted floors, suspended ceilings inset with recessed fluorescent. Each office suite is provided with dedicated ablution and kitchen facilities. The perimeter is secured with a face brick wall and vertical steel bars with boom access control.

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Zoning and Title Deed Information

Erf: 1118 Ferndale

Tenure: Freehold

Registered Owner: Government Employees Pension Fund

Title Deed number: T22543/2011

Local Authority: City of Johannesburg

Extent: 4,015 sqm

Zoning: Special

Floor Area Ratio: 0.9 of all buildings

Coverage: 30% at 3 Storeys and 45% at 2 Storeys

Height: 3 Storeys

Building lines: 5 metres along the eastern boundary

Rentable Areas

Use Use Size (Sqm) / Bays
Office 2,017 
Total 2,017 
Parking  
Basement 46
Covered 36
Shade Ports 13
Open 42
Visitor’s 6
Total 143

 

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Tenancy

The property is 100% vacant.

Forecasted monthly rates and taxes expense

 

Starting March 2022  
Rates and Taxes   R55,979.00

 

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VAT

The Seller has been registered for VAT (Value Added Tax). It is intended that the sale will be treated as a transfer of a going concern, provided that the purchaser is registered for VAT and the requirements for going concern are met in terms of the VAT Act, No. 89 of 1991.

Sales process

Stage 1:

In this stage of the process interested parties are requested to submit a non-binding Letter of Interest / Intent (“LOI”) to the JLL Empact JV by no later than -

12h00 on Thursday 7 October 2021. Bids are to be submitted electronically to the email addresses of the agents provided herein in the template LOI format provided in the Downloads tab below. Please note that late electronic submissions will not be considered by the PIC.

To submit these LOIs the following Stage 1 property information is available under the Downloads tab:

A downloadable Information Memorandum (which is a summary of the information contained in this property information page);

  • A comprehensive Stage 1 Process Letter (setting out the two-stage Private Tender Process in greater detail);  
  • The Seller’s template / standard Letter of Intent / Interest (“LOI”);
  • The Sellers’ standard Non-Disclosure Agreement (“NDA”). The NDA must be completed if the purchasers wants to view a detailed Tenancy Schedule (if applicable and available). 

Bidders will also be allowed to view the Property, provided 48 hours’ notice is given to the JLL Empact JV. 

To download any of these documents you’ll be required to register to become a subscriber to the South African Property Exchange (SAPX).

Stage 2:

Stage 1 LOIs / bids will be assessed by the Seller and thereafter a select number of bidders will be given permission to participate in Stage 2 of the process. In Stage 2, select bidders are given access to a comprehensive Stage 2 due diligence data room to conduct a more extensive due diligence exercise. FICA or KYC verification will be required and submission of binding offers will be done via the ClicktoPurchase functionality on SAPX or via the submission of PDF signed copy of an approved sale and purchase agreement directly to the agents. The agents will provide selected bidders with instructions that outlines how offers are to be submitted via ClicktoPurchase® or direct submission by providing select bidders with a detailed Stage 2 Process Letter.

In Stage 2 bidders have up to 6 weeks to conduct their DD and submit final binding offers.

Bids will be accessed on four main criteria:

  • Price
  • Ability to perform / track record
  • Conditionality (i.e. speed of performance)
  • Timing of electronic submission of offer.

Empact Group

Empact    
PJ Muller PJ.Muller@empactgroup.co.za +27 (0) 82 888 0828
Kedibone Bolofo Kedibone.Bolofo@empactgroup.co.za +27 (0) 83 988 1740

 

 

JLL

JLL    
Pepler Sandri pepler.sandri@eu.jll.com +27 (0) 82 445 5496
Thabiso Malibeng thabiso.malibeng@eu.jll.com +27 (0) 79 183 1153

 

Disclaimer

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of the JLL Empact JV or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of the JLL Empact JV or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor shall not give rise to any right of action, claim, entitlement or compensation against JLL Empact JV or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of the JLL Empact JV or the vendor.