Commercial Property for Sale in Fort Gale

PRIME MEDICAL-RELATED RESIDENTIAL INVESTMENT – SISSON STREET 315-Unit Apartment Complex | Fully Tenanted | Yield: 11.50% Presenting an exceptional, high-yielding residential investment opportunity with an unparalleled tenant covenant. This 315-unit apartment complex is strategically located to serve two major healthcare institutions and is fully occupied under two secure, long-term contracts, delivering a robust return on investment. Investment Overview: This well-maintained residential complex comprises multiple separate blocks across a vast 46,440m² site. It offers a unique and secure income stream, purpose-built to house healthcare professionals and staff from the adjacent hospitals, ensuring consistent, guaranteed occupancy. Unmatched Investment Highlights: Exceptional, Secure Yield: Generating a formidable 12% Return on Investment, this asset provides a stable and predictable income with significant upside potential. Institutional-Grade Tenancy: 100% occupancy is secured via two direct contracts with major public sector tenants: Nelson Mandela Academic Hospital (NMAH) Umtata General Hospital (UGH) This virtually eliminates tenant default risk and voids costly leasing commissions and vacancy rates. Unbeatable Proximity to Anchor Tenants: 700m (2-minute drive) to Nelson Mandela Academic Hospital 1.1km (3-minute drive) to Umtata General Hospital The location is irreplaceable for its target tenant market, guaranteeing perpetual demand. Significant Scale & Land Value: The portfolio consists of 315 individual apartments with a total floor area of 19,556m², situated on a massive 46,440m² erf, offering potential for future densification or development (subject to approvals). Secure & Managed Complex: The asset includes extensive covered and open parking and is secured by a controlled access point with a guard house, ensuring the safety of tenants and the security of the investment. Financial & Property Details: Asking Price: R246,750,000 Total Floor Area: 19,556m² Rate per m²: R12,620 Land Size (Erf): 46,440m² Number of Units: 315 Apartments Return on Investment (ROI): 12% Occupancy: 100% (Fully Tenanted) This is a rare opportunity to acquire a substantial, purpose-driven residential asset with a government-backed income stream. It is ideal for institutional investors, property funds, and syndicates seeking a low-management, high-performance investment with defensive characteristics. For a detailed financial breakdown, tenant contracts, and a confidential viewing, please contact Taps.