Moore Stephens

7 West Street |  Houghton Estate | Johannesburg  | 2198

Price on Application



Investment highlights

  • Fully tenanted investment opportunity in the heart of Houghton

  • Easy accessibility to the M1 Highway

  • Strong covenant with an unexpired lease term of 24 months

  • Budgeted First Year’s Forward NOI of approximately R3.2 million



The property is situated in the commercial hub of Houghton just south of the M1 and 1st Avenue interchange, south of Killarney. The surrounding areas comprise of predominantly office properties with residential properties to the east. Killarney Mall is located less than 1km away on the opposite side of the M1 motorway.


The property is developed with a part double part triple storey office block with two levels of basement parking. The property is designed in a rectangular configuration with brick walls, inset column features, aluminum frame windows and a pitched roof with cement roof tiles. The property offers 2,230 sqm of GLA along with 69 parking bays spread out across basement and covered bays.

The internal footprint of the property includes ceramic and carpeted floor tiles, suspended ceilings with fluorescent lighting and downlighting. Ablution facilities and kitchenettes are provided. The external works include bricked driveways and landscaping with the perimeter secured with a palisade fence.


Zoning and Title Deed Information

Erf: 1129

Township/Farm: Houghton Estate

Tenure: Freehold

Registered Owner: Government Employees Pension Fund

Title Deed Number: T55796/2007

Local Authority: City of Johannesburg

Extent: 3,866 sqm

Scheme: Johannesburg Town Planning Scheme 1979

Zoning: Business 4

F.A.R: 0.6

Coverage: 60%

Height: 2 Storeys

Parking: 4 Bays per 100 sqm of Gross Leasable Office Floor Area 6 Bays per 100 sqm of Gross Leasable Medical & Dental Consultation Floor Area

Building Lines: 10m along West Street

Rentable Areas

Description Area (sqm)
Office 2,230
Total 2,230
Basement 34
Covered 35
Total 69



Tenancy and covenant

The property is currently fully let to 3 Sixty Health Pty Ltd, who have signed a 3-year lease with expiration in October 2023. The site was previously tenanted by Sechaba Medical Solutions Pty Ltd on a 5-year lease which expired October 2020.

The current lease can be summarised as follows:

Tenant: 3 Sixty Health (Pty) Ltd

  • Area: 2,230 sqm.
  • Lease term: 01 November 2020 – 31 October 2023
  • Rent per sqm per month: R 94.90
  • Escalation: 7.00% per annum

3 Sixty Health Pty Ltd. 3 Sixty Health was founded in 1938 by black professionals (mostly doctors) with a view to establishing the first medical aid primarily targeted at previously disadvantaged black South Africans.

Today, the company is 100% black owned and is accredited by the council of medical aid schemes to offer both administration and managed care services.

Net operating income


Period March  2022 - February 2023  
Gross income (ZAR) 6,543,163
Gross Expenses (ZAR) 3,315,050
Net Operating Income (ZAR) 3,228,111

A full breakdown of the projected NOI is available upon signature of an NDA, along with tenancy schedules, rent rolls and plans where available.



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.

PJ Muller +27 (0) 82 888 0828
Kedibone Bolofo +27 (0) 83 988 1740



Pepler Sandri +27 (0) 82 445 5496
Thabiso Malibeng +27 (0) 79 183 1153



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.