Ex-McCain Foods

6 Osborne Lane | Bedfordview | Germiston | 2008

Price on Application

LETTER OF INTEREST DEADLINE 07 OCTOBER 2021

PRIVATE TENDER CLOSED

Investment highlights

  • A standalone office building, measuring 2,113 sqm with ample parking

  • Excellent investment grade property for a prospective owner-occupier

  • Strategically located in a popular commercial node of Bedfordview 

  • Convenient location, with easy access to the R24 and in close proximity to Gillooly’s interchange

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Location

The property is located at 6 Osborne Lane which is accessible from Van Der Linde Road in Bedfordview. The building has frontage and good exposure from Osborne Lane and the R24, which is a major freeway which passes Eastgate Mall towards the Gillooly's Interchange. The general node is improved with commercial properties which are in close proximity to the N3 Eastern Bypass.

The building is situated on the same road as EOH Business Park, with Eastgate Mall, Bedford Centre, Gillooly’s Farm, Bedfordview Licencing Department and Village View Shopping Centre all nearby.

Description

The site has been improved with a double storey office block comprising of two wings, with a lower parking level and ample covered parking. The building’s main entrance/reception area is double volume, comprising of an exposed wooden panelled ceiling with trusses and a staircase. In addition, the main entrance opens onto a recreation area which leads to an outdoor courtyard. The premises are well-maintained and set in immaculate gardens with 24-hour guarded access control.

The offices are spacious comprising of painted partitioned walls and carpets. There are large open areas throughout which allow for open plan seating arrangements. The premises are neat, with boardrooms, bathrooms and kitchens on each floor.

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Zoning and Title Deed Information

Erf: 2614 Bedfordview Ext 446

Title Deed Number: T9896/2009

Registered Owner: Government Employees Pension Fund

Local Authority: City of Ekurhuleni Municipality    

Extent: 6,230 sqm

Zoning: Special

Height Restriction: 3 storeys

Coverage: 40%

F.A.R: 0.6

Building Lines: 20m from the N12 and N22 motorway. 0m from street boundaries and 4,5m from all other boundaries

Parking: 70 bays

Rentable Areas

Use Use Size (Sqm) / Bays
Office 2,113
Total 2,113
Parking  
Open 9
Covered 50
Basement 30
Total 89

 

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Tenancy

The building is currently vacant.

Forecasted monthly rates and taxes expense

 

Starting March 2022  
Rates and Taxes   R37,507.05

 

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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

This property is being sold by way of a two-stage Private Tender 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.