PROPERTY DESCRIPTION
Purposefully developed double story office building, with 1501m2 of ground floor office space available to lease. The landlord will consider dividing the space into smaller sizes to accommodate tenants who require around 500m2. The space is currently a white box and ready to be upgraded to suit a tenants needs. The property has an almost square shape and borders onto a vacant section of land, used as a parking lot and three roads, due to the property being a corner stand erf. The overall fittings and finishes, includes brick wall construction, tiles and carpets, face, plastered and painted brick, concrete and suspended ceilings, pitched clay tile roofs and aluminium windows. The site is level and offers one vehicle access point from Murray Street on the western side.
The landlord has made an application to change the zoning from commercial to a retail zoning.
PROPERTY LOCATION
The property is located along Walter Sisulu Avenue, on the East and Retief Street on the South. It is located within the Potchefstroom CBD area. The surrounding properties comprise shops, offices, residential properties and a hotel. The property is well situated with easy access to tarred main and secondary road links, close to the N12 National Freeway from Klerksdorp and Johannesburg. The property is situated in close proximity to all the necessary amenities. All services like schools, churches, hospitals and other emergency services are available close-by in the Potchefstroom area.
POTENTIAL INVESTMENT OPPORTUNITY
The property is also for sale, ideally to an owner occcupier. The purchaser could occupy the 1501m2 ground floor space and the enjoy rental income from the tenant, leasing the first floor. The tenant is leasing a total of 993.40m2 at a starting gross monthly rental of R95 606.95, plus vat, which escalates at 7% per annum.
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