Waterfall Close, Vorna Valley

81 Bekker Road | Vorna Valley | Midrand | 1686

Price on Application

LETTER OF INTEREST DEADLINE 07 OCTOBER 2021

PRIVATE TENDER CLOSED

Investment highlights

  • 22 Sections of a 23 Section Office Scheme located in Waterfall Park

  • The 22 sections measure 2,995 sqm in total in terms of the Sectional Title Scheme, but with the inclusion of common areas the GLA amounts to 3,638 sqm  

  • The property is currently vacant offering a great opportunity for an owner occupier, speculator or conversion specialist

  • The property is accessible from Bekker Road and enjoys exposure to the N1 highway

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Location

Vorna Valley is an established area of Midrand, situated between Johannesburg and Pretoria, with the area having become a key activity corridor. The Mall of  Africa  and the Waterfall City development are located in Waterfall and this has greatly enhanced the appeal of the area.

Allandale Road is an arterial route allowing access to the area and to the  N1 highway.

The subject property is situated within the Waterfall Park development. This is an access controlled business park, with access from Bekker Road, a key road parallel to the N1 National Road and linking up to Pretorius Street which connects to Allandale Road. The Waterfall Park development is a large development, offering a number of different property types. The main entrance to the Park is on Mac Mac Road, where visitors are required to sign in. This leads to a traffic circle with a water feature with two key roads leading off in opposite   direction. The subject property is accessed from Howick Close and Mahai Close.

Description

The subject property comprises 22 sections in the Waterfall Close sectional scheme. This scheme comprises two separate buildings each following a simple rectangular shape with double storey offices.

The buildings follow a simple design, with the exterior façade being two-tone face brick. The sectional title units are of varying extents and configurations. Various doors allow access into the buildings, with stairs allowing access to the first floor. The quality of accommodation offered varies, depending on the tenant fit out and requirements.

Internally the units have split air conditioning and floor coverings are primarily tiles and carpets. Ablutions are shared and these are accessed from the common areas.

Open parking is available in front of the buildings, with the buildings also offering basement parking.

The Park is well maintained, with neat gardens and landscaping.

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Zoning and Title Deed Information

Erf: Sections 1 to 7 and 9 to 23 of plan 1016/1995 known as Waterfall Close Situated at Erf 1340 Vorna Valley Ext 21 City of Johannesburg Gauteng

Title Deed Number: ST50770/2011

Registered Owner: Government Employees Pension Fund Local Authority:          

Extent: 2,995 sqm                                           

The table below summarises the extents of each section. 

Section No.

Extent

Owners Details

Scheme Name

Scheme No.

1

69

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

2

45

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

3

13

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

4

207

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

5

155

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

6

180

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

7

177

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

8

219

D P WATERFALL PARK CC

Waterfall Close

SS 1016/1995

9

193

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

10

171

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

11

173

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

12

79

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

13

24

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

14

25

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

15

13

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

16

184

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

17

208

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

18

164

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

19

164

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

20

194

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

21

198

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

22

187

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

23

172

GOVERNMENT EMPLOYEES PENSION FUND

Waterfall Close

SS 1016/1995

 

3214

 

Zoning: Special

Height Restriction: 3 storeys

Coverage: 40%

F.A.R: 0.4

Building Lines: 5m metres along street boundaries

Parking:  As per scheme clauses   

Rentable Areas

The property has the following Gross Internal floor areas:

Description

Size (Sqm)

Offices

3 186 sqm

Stores

   151 sqm

Total                            

3 337 sqm

 

Parking

No. of Bays

Open

60

Covered

Basement

Shaded Bays

71

4

9

Total                            

144

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Tenancy and covenant

Vacant

Forecasted Monthly Rates and Taxes Expense

 

Starting March 2022  
Rates and Taxes R36 854.48

 

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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

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 MullerPJ.Muller@empactgroup.co.za+27 (0) 82 888 0828
Kedibone BolofoKedibone.Bolofo@empactgroup.co.za+27 (0) 83 988 1740

 

 

JLL

JLL  
Pepler Sandripepler.sandri@eu.jll.com+27 (0) 82 445 5496
Thabiso Malibengthabiso.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.