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Prime Investment Opportunity: 6-Storey Office Building with Multiple Tenants!
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for sale
Private Tender
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Location
Summary
- Vacant building with conversion potential
- 6 Storey building measuring 2,645 m²
- Well located in Bloemfontein CBD
Situation
The subject property is situated on a prime corner stand in the north-eastern section of the Bloemfontein CBD, fronting both Oos Burger Street and the major Nelson Mandela Drive, which is also an extension of the N8-highway that traverse the town centre. The N8 highway (Nelson Mandela Drive) is also the national arterial route that runs east-west and links Kimberley, through Bloemfontein to the border post with Lesotho.
The N8 highway also intersects with the N1 towards the north-west of the Bloemfontein CBD, linking Gauteng, Bloemfontein, and Cape Town, therefore allowing for high volumes of passing vehicular and pedestrian traffic. Bloemfontein is known for its scenic beauty and for being the judicial capital of the country, as well as being a major mining and agriculture hub.
The immediate area surrounding the subject site is in line with the typical central business area character of major city centres, comprising a number of mixed commercial, residential and retail buildings.
Description
The site has been improved with a single structure offering five (5) floors of mostly similar layouts and configurations of office floors with the 6th floor comprising the lift room. The basement parking area spans the full extent of the building footprint. The ground floor level spans the entire site whilst the upper floors offer U-shaped footprints around the service area/fire escape staircase. This allows for easy configuration for multiple tenants.
The ground floor offers a lobby area providing access to the upper floors and some ground floor offices. The upper floors and the basement are serviced by a staircase and two lifts. Each of the floors include separate female and male ablution facilities, kitchens and some storerooms.
The upper floors offer identical floorplates, largely open-plan internally configured to fit the previous tenant’s needs and comprising mostly of drywalled office partitions creating spaces of varying size and layout, including some more open-plan office sections, boardrooms, storerooms and filing rooms.
The basement parking area is accessible via a steel roller shutter door from Nelson Mandela Drive (N8), offering 17 parking bays and is serviced by the building’s two (2) lifts.
The property further boasts the following additional features:
- Concrete building extensions between ground and first floor, providing covered walkways along both street fronts.
- Fire safety equipment installed throughout, including fire hydrants, extinguishers, hoses, and fire escape stairs.
- Split-unit air-conditioning units installed throughout.
The building is well suited to a residential conversion.
Zoning and Title Deed Information
Title Deed Information
Title Deed Number: T3630/2013
Legal Description: Erf 943 Bloemfontein, District Bloemfontein, Province Free State
Registered Owner: Delta Property Fund
Local Authority: Mangaung Metropolitan Municipality
Extent: 660 m²
Zoning Information
Zoning: General Commercial,
Subzone F
Primary Uses: Place of assembly, institutions, business premises, shops, light industrial building,
auctioneers’ business, undertakers’ business, warehouse, service industry, gymnasium, wholesale
warehouse, motor workshop, industrial shop, office
Height Restriction: 18,5 meters
Coverage:
- Shops, business premises, industrial buildings, service stations and offices: 75%
- Blocks of flats and residential buildings (garage/carport excl.): 50%
- Institutions and places of assembly: 85%
Places of Instruction and Adult Instruction: 33.3%
Bulk:
- Shops, business premises, industrial buildings, service station and office: 3.5
- Blocks of flats and residential buildings: 3
- Places of instruction, Adult Instruction and Institutions: 1
F.A.R.: 75% / 495m²
Parking: Refer to Section 23 (9) of the Bloemfontein Town Planning Scheme (T. S. P. S.)
Building Lines: 0m from street building line
Rentable Areas
| Use Size (Sqm) | Sqm |
| Office | 2645 |
| Total | 2645 |
| Parking | Bays |
| Basement | 17 |
| Total | 17 |
Tenancy and Coveant
The building is vacant.
NOI
Forecasted Rates & Taxes:
December 2022 | |
Rates and Taxes | R34 628,98 |
VAT
The Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.
Sales Process
This property is being sold by way of a Private Treaty process under a Sole Marketing Mandate with CBRE-X online.
Interested parties will have access to the Property Brochure and NDA on registration on the CBRE-X online website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
• The price offered.
• Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
• Conditionality of the offer and timeline to conclude the deal.
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.
Contacts
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CBRE Excellerate
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Disclaimer
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