17 Harrison Street & Kay Street Parkade
17 Harrison Street & Kay Street | Marshalltown | Johannesburg | 2001
12 Storey office building with ground floor retail
Kay Street parkade 400m away offering additional bays
Great conversion opportunity
Marshalltown is known as the oldest part of Johannesburg and boasts many iconic buildings such as the Rand Club, the Carlton Centre, and Bank City. The suburb hosts many corporations’ head offices and is known as a commercial hub within Johannesburg. Commissioner Street, Marshall Street, Anderson Street, Simmonds Street and Eloff Street are some of the major thoroughfares through the area.
The subject property forms part of the Marshalls Town node of Johannesburg CBD and partially fronts onto Main Street where CID interventions have beautified the sidewalks and restricted traffic flow by introducing narrow roads.
Marshalls Town has a large contingent of corporate offices including banks and mining house who readily contribute the CID levies. The CID levies are used to enhance services to improve the physical and social environment in the area. The services provided are supplementary to those provided by the local authorities and include security patrol officers, pavement cleaning, litter collection and maintenance of public place.
The subject property has been improved with a twelve-storey building comprising ground floor retail and a first floor parkade, providing 40 parking bays. Office space has been provided in the building’s basement area.
The central core of the building houses two lift bays with two lifts in each bay as well as internal staircases. Male and female bathrooms have been provided on the half landings of the staircases.
A fairly small lobby to the office space has been provided on the ground floor level. Two escalators from the ground to the lower ground floor provide access to the passenger lifts from the lobby area. The approach to the office entrance is typical of that an older CBD office building. The office space is air conditioned via a central plant and in addition there is a sprinkler system, smoke detection and power skirtings.
The floor space is fairly flexible with the majority of internal walls being demountable. The building could be leased to a single tenant or a tenant per floor without any alterations. With minor alterations, more than one tenant could be accommodated per floor.
Currently 729 sqm of the 1 082 sqm of retail space is occupied.
Kay Street parking provides additional parking to 17 Harrison Street and comprises of 68 covered parking bays enclosed with precast concrete walling. The property is located on the corner of Kay Street and Harrison Street within walking distance of 17 Harrison Street.
Title Deed and Zoning Information
Title Deed Number: T21611/2016
Legal Description: Erf 1146 Marshalls Town and Erf 1039 Marshalls Town 1
Registered Owner: Delta Property Fund Limited
Local Authority: City of Johannesburg
Extent: 3,710 m² combined (1,983m² and 1,727m² respectively)
Zoning: Business 1
Primary Uses: Office building with ground floor retail and parkade
Parking:4 bay/s per 100m² GLA
Building Lines: 1,5m form street boundaries and 2m from rear/side boundaries
|Covered (Kay Street)||68|
Tenant: ABSA Bank Ltd
- Area: 326m²
Tenant: Atlas Finance
- Area: 124m²
Tenant: Flucks Butana Mhlekwa Skhosana
- Area: 77m²
Tenant: SWU Credit Solutions
- Area: 49m²
Tenant: The Fashion Hub
- Area: 59m²
Forecasted monthly rates and taxes expense
|Rates and Taxes||R88 858|
|Projected Rates & Taxes July 2023||R94,189|
The Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.
This property is being sold by way of a Private Treaty process under a Sole Marketing Mandate with SAPX.
Interested parties will have access to the Property Brochure and NDA on registration on the SAPX website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
- The price offered.
- Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
- Conditionality of the offer and timeline to conclude the deal.
Should you have any queries regarding the process please contact either Lara or Kedibone
Parties “You” and ““your” refer to any person accessing this website. “The Company” refers to The Property Pact (Proprietary) Limited, and any of its affiliates and/or subsidiaries.
Whilst reasonable care is taken to ensure that the information contained on this Website is accurate, we cannot guarantee its accuracy.
The Company provides this Website on an "as is" and "as available" basis and makes no representations or warranties of any kind (express or implied) with respect to this Website or the Website Content (including, but not limited to any pictures of properties, text, graphics, advertisements, files, links, financial calculators, general property information or other items) and disclaims all such representations and warranties.
In addition, the Company makes no representation nor gives any warranty, undertaking or term (either express or implied) as to the condition, quality, performance, accuracy, suitability, fitness for purpose, completeness, or freedom from viruses, Trojans, bombs, time-locks or any other data code or harmful mechanisms (which has the ability to corrupt or affect the operation of the Website or the Company systems) of the Website Content.
The Company makes no representation nor gives any warranty that the Website Content will be accurate, up to date, uninterrupted or error free.
The Company cannot be held liable for any inaccurate information published on the Website save where such liability arises from the gross negligence or wilful misconduct of the Company.
The Company shall not be liable for any direct, indirect, incidental, special or consequential loss or damages which might arise from your use of, or reliance upon, the Website or the Website Content; or your inability to use the Website or the Website Content, and/or unlawful activity on the Website and/or linked third party websites.
In relation to the properties listed on the Website:
- the particulars are set out as a general outline only for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract;
- all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them;
- no person in the employment of the Company has any authority to make or give any representation or warranty whatever in relation to the property;
- all maps are for identification purposes only and should not be relied upon for accuracy; and
- unless otherwise stated, all prices quoted are exclusive of Value Added Tax to which they may be subject.
Nothing on this Website shall be regarded or taken as financial or investment advice. The information contained on this Website may not be relied upon in connection with any investment decision you may make.
Please contact us to report any possible malfunctions or errors by way of email to email@example.com