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Zoning and Title Deed Information
Title Deed Information
- Erf: 1167 & 1168 Marshalls Town
- Township/Farm: Marshalls Town
- Tenure: Freehold
- Registered Owner: Government Employees Pension Fund
- Title Deed Number: T6337/2009
- Local Authority: City of Johannesburg
- Extent: 3,123 sqm
Zoning Information
- Scheme: Johannesburg Town Planning Scheme 1979
- Zoning: Business 4
- F.A.R: As per scheme
- Coverage: As per scheme
- Height: 1-8 storeys excluding basements
- Parking: As per scheme
- Building Lines: 0 metres on all boundaries
Rentable Areas
| Use | Size (sqm) / Bays |
| Offices | 11,261 |
| Total | 11,261 |
| Parking | Bays |
| Basement | 279 |
| Total | 279 |
Tenancy and Covenant
Tenancy
Government Pension Administration Agency
- Area: 667 sqm
- Lease term: Commenced on 01 October 2018, expiring on 30 September 2023
- Current Rent: Current rent of R75,898 per month
- Basement Parking: Total of 19 bays at R19,046 per month
- Escalation: 8% per annum
The Metal and Engineering Bargain Council
- Parking: 15 basement parking bays
- Current Rent: Current rent of R12,000 per month (month-to-month)
Covenant
The Government Pension Administration Agency
The Government Pensions Administration Agency (GPAA) is a government component that reports to the Minister of Finance and administers funds and schemes on behalf of the Government Employees Pension Fund (GEPF), the largest pension fund in Africa. It administers the pension affairs of approximately 1,7 million government employees and pensioners, as well as the affairs of their spouses and dependents.
Forecasted Monthly Rates and Taxes
Projected from April 2023
| Rates and Taxes | R53,298 |
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
This property is being sold by way of a single stage open private treaty process.
Interested parties are requested to notify us of their interest to purchase the property in writing to the email addresses of the agents provided herein. To investigate the opportunity in greater detail interested parties will also be expected to submit and conclude the Seller’s Standard Non-Disclosure Agreement (“NDA”) – available under the Downloads tab.
The NDA must be completed if the purchasers want access to a comprehensive due diligence data room. In the data room bidders will gain access to:
• A comprehensive Open Private Treaty Process Letter (setting how offers must be submitted);
• Property specific due diligence information; and
• A template sale and purchase agreement.
Bids will be accessed on three main criteria:
• Price;
• Ability to perform / track record & proof of funds; and
• Conditionality (i.e. speed of performance).
Disclaimer
The website provides information about properties but does not guarantee its accuracy. Users access the site at their own risk and should seek professional advice before making any decisions based on the information provided. Property descriptions are general and do not constitute an offer or contract. All details are believed to be correct but should be verified by users. The company and its employees do not make any representations or warranties regarding the properties. Prices quoted are exclusive of taxes. The information on the website may contain errors, omissions, or may change without notice. Users should conduct their own investigations before making any investment decisions. The information provided should not be considered financial or investment advice. Any information given by the company or the vendor is for illustration purposes only and does not constitute a representation, condition, or warranty. Users are responsible for conducting their own due diligence to verify the accuracy of the information provided.
