135 Van der Walt Street | Pretoria | 0002
22 Storey office building with ground floor retail
Approx 80% let ground floor retail
Office component is vacant
Possible residential conversion
The Pretoria CBD has good access to freeways and main roads such as the N1, M1 and N$. Public transport, in the form of busses and minibus taxis, serve the area on the main arterials. The neighbouring properties mainly comprise of similar type developments offering ground floor retail with offices above. The subject property is however much higher than most of the surrounding buildings.
The property is prominently situated at the north-western corner of Lilian Ngoyi and Madiba Streets in a prime spot in the Pretoria CBD. Madiba Street is an arterial west-to-east one-way road and Lilian Ngoyi Street a primary one-way north-south road from Fountains Circle in the south to Boom Street in the north. Sammy Marks Square, Tshwane House, Liberty Building, Regents Place and Mosque Plaza are all within the immediate vicinity of the property. All amenities such as primary, secondary, and tertiary educational institutions, churches, shopping centres, police and fire stations etc. are within convenient reach to the subject property.
The erf has a rectangular shape with a moderate natural downward slope to the north.
Improvements comprise of a 22-storey commercial building with double parking basement providing approximately 227 bays. Ground floor mainly comprises of retail accommodation incorporating five shops of which one has an internal mezzanine level storage / retail. Three of the shops (Steers, Webbers and the ex-bakery) front onto Madiba Street with the remaining clothing retailer and Pep having frontage onto Lillian Ngoyi Street.
The primary entrance to the office tower lobby is from Lillian Ngoyi Street with vehicular access into the parking being along the eastern boundary, also from Lillian Ngoyi Street. The ground floor and parking levels have the largest footprint with floors 2 to 22 above being square shaped and all having a similar layout. Access to the upper floors is via six lifts as well as centrally located stairwells. The ablution and kitchen facilities are adjacent to the lift lobbies with the offices arranged around the central core and comprising of a combination of open plan and drywall partitioned accommodation.
The retail trades well and is almost fully let, but the office component either needs to be let or a residential conversion should be considered.
Title Deed and Zoning Information
Title Deed Number: T42786/2016
Legal Description: Erf 2989 Pretoria
Registered Owner: Delta Property Fund Limited
Local Authority: City of Tshwane
Zoning: Business 1
Primary Uses: Business Buildings, Government Purposes, Retail industry, Shops and Showrooms
Height Restriction: 10 Storeys
F.A.R: 5,5 0r 22,671m²
Parking: 1 bay per 100m² of GLA
Building Lines: 3,5m along street boundaries and 4,5m along other boundaries
|Offices and Storeroom||21,339|
Tenant: Pepkor Trading
Tenant: Yusra Brothers Trading Wholesale
Tenant: Out-Smart Outdoor Advertising
Area: 2 antennae
Forecasted monthly rates and taxes expense
|Current Rates and Taxes||
|Projected July 2023 Rates and Taxes||R280 277.00|
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