• 12 Storey office building with fully let high street retail

• GLA: 10,289m²

• Possible conversion for office component

• Attractive basement parking

• Projected Net Operating income for the period 1 July 2023 to 30 June 2024 of approximately R5,3 million (including a projection for the vacant offices)

The property is level with the natural fall of the land being moderately downwards to Madiba Street. It is rectangular shaped with the street facing northern boundary along Madiba Street measuring approx. 48m.

Improvements comprise of a fourteen-storey, commercial building with double parking basement. The ground floor consists of retail accommodation incorporating three shops of which two have lower-level basement storage. Two of the shops (Capitec Bank and Fair Price) front onto Madiba Street with the remaining clothing retailer having frontage onto Queen Street.

The primary entrance to the office tower lobby is from Queen Street with vehicular access into the basement parking along the southern boundary, also from Queen Street. The intermediate (mezzanine) floor has the largest footprint with floors 1 to 12 above being square shaped and all having a similar layout.  Access to the upper floors is via four 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.

Floor coverings are ceramic tiles and carpets and there is central air-conditioning as well as split units servicing the offices. The roof is a waterproofed concrete slab.

The accommodation is in a good state of repair and could be utilised for commercial tenants alternatively one could look to do a residential conversion here.

Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.

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