The Galaxy Building

Corner Columbia and Ariane Avenue | Midridge Park | Midrand  | 1685

Price on Application



Investment highlights

  • Two office buildings located in the International Business Gateway, measuring 3,718 sqm

  • Tenanted by Next Biosciences, occupying 48% of the GLA

  • Excellent and secure location in the established Midrand node

  • The property is accessible from New Road and enjoys exposure to the N1 Highway

  • First year’s forward Net Operating Income for the period 1 March 2022 to 28 February 2023 of approximately R1.6 million



The property is located in the International Business Gateway Park, in Midrand, on the corner of Columbia and Ariane Avenue. It is situated towards the East of the park, parallel to 3rd Road and the N1 Highway.

The International Business Gateway is accessible from New Road, a major road in the node. The New Road/N1 highway interchange is near the property, as are various amenities such as Carlswald Lifestyle Shopping Centre, San Ridge Square and the recently revamped Engen Big Bird 1-Stop. The popular Midrand node comprises of a mix of offices, business park developments and residential developments.


The site is improved with two symmetrical B Grade office buildings, each with three storeys, comprising of two floors of offices and a basement parking level.

The building has face brick exterior walls with anodised aluminium windows under a pitched cement tile roof. Internally, the finishes include ceramic tiles or carpeted floors and suspended ceilings inset with flush fluorescent lights or spotlighting.


Zoning and Title Deed Information

Erf: 11 Midridge Park, Ext 8

Title Deed Number: T33717/2011

Registered Owner: The Gauteng Employees Pension Fund

Local Authority: City of Johannesburg Metropolitan Municipality  

Extent: 10,000 sqm                                        

Zoning: Special

Height Restriction: 3 Storeys

Coverage: 30% but may be increased to 40% as per scheme clauses

F.A.R: 0.4 but may be increased to 0.6 as per scheme clauses

Building Lines: 10m along all boundaries     

Parking: 4 parking bays per 100 sqm total gross leasable floor area                                    

Rentable Areas

Use Use Size (Sqm) / Bays
Office 3,718.20
Total 3,718.20
Open 38
Shade 117
Covered 39
Basement 28
Total 222



Tenancy and covenant

The property is currently let to a single tenant, Next Biosciences who occupy 1,767 sqm of GLA, with the remaining 1,046 sqm of GLA being vacated at the end of August 2021. The building is therefore currently 52% vacant. The commercial terms of the Next Biosciences lease is summarised below:

Tenant Summary: Next Biosciences (Pty) Ltd

  • Area: 1,766.50 sqm (1,404 sqm per a main lease and an additional lease for 362 sqm)
  • Lease term: The main lease commenced on 1 December 2015, expiring on 30 November 2022. The additional lease commenced on 1 December 2020 and runs to 30 November 2022.
  • Rent: R168,887 per month
  • Escalation: 8% per annum

Next Biosciences

Next Biosciences is one of South Africa’s leading biotech companies. Next Biosciences is involved in research and development in stem cells, genetics and biologics. Next Boisciences specialise in Carrier Screening, Pre-implantation genetics, Non-invasive prenatal screening (NIPT), Stem Cell Banking, New-born Screening, Biologics, PGS, PGD, and Paternity testing.

Next Biosciences has recently branched into PCR molecular tests for COVID-19 as well as antigen testing and has set up various drive-through locations including the following sites (including the subject property):

  • Cape town: Old Christian Barnard Hospital, 111 Bree St, Cape Town City Centre
  • Sandton: BluBird Shopping Centre, corner of Atholl Oaklands Road and Fort Street, Birnam
  • Midrand: International Business Gateway, corner of New Road and 6th Road
  • Pretoria: Loftus Park Shopping Centre underground parking, 416 Kirkness Street, Arcadia
  • Bedfordview: Village View Shopping Centre, basement level parking, corner of Ivy and Van Buuren roads
  • Durban: Cornubia Mall undercover parking M30, corner of Tecoma and Flanders drives, Mount Edgecombe


Net operating income


Period March 2022 - February 2023  
Gross income (ZAR)   4,827,053
Gross Expenses (ZAR) 3,191,077
Net Operating Income (ZAR) 1,635,976

*The projected cashflow assumes a 5-month vacancy period and lease up at a market related rental, which is assumed to be R110 per sqm for this property in the current market.


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.