|
Please consider the environment before printing this Property |
|
Exciting mixed-use opportunity in the heart of Kroonstad CBD
|
for sale
Private Tender
|
Location
Summary
- Kroonstad CBD
- 4 Storey multi-tenanted building (GLA: ± 5,967.74 m²)
- Good mix of Office & Retail Tenants
- Potential Residential Conversation
Situation
The property is on the corner of Brand, Murray and Cross Streets and is well positioned in the central
business district of Kroonstad.
Kroonstad is the centre of a rich agricultural hub. The area lies directly on the N1 route to Bloemfontein and is approx. 2 hours south of Johannesburg. Other regional roads in the town include the R34 to Odendaalsrus in the south-west and Heilbron to the east.
The subject properties are conveniently located to all public amenities including private and government education facilities, public transport, shopping centres and recreation facilities. The Kroonstad Academy Combined Intermediate School, the Calculus Kollege Secondary School. The Unisa Kroonstad Campus and The Netcare Kroon Hospital are in close proximity.
Description
The properties for sale are made up of a good mix of office and retail tenants.
There are 9 Sectional Title Sections and 3 Freehold Stands sold as a total package (GLA: ± 5
967.74 m²).
Sectional Title Sections:
This mixed-use property is part of a large sectional title scheme – SS Fairweather (44/1994)
These complex sections are made up of office, retail and residential units.
The Fairweather Scheme has a total of 52 sectional title units.
The sellers are the registered owner of 1-8, & 52 made up of office and retail tenants.
Freehold:
In addition to the 9 Section Title Units, three full title properties situated at neighbouring 34, 36 & 38
Murray Street form part of the sale and comprise of the following of a total size 2,676 m². These 3
stands are made up of:
- Single level retail component – Maningi Butchery
- A combination of interlocked brick-paved & tarred parking area with approx. 47 covered parking bays service the property
- The parking area has dual driveway gates on the street frontage
Rentable Areas
| Use | Size (sqm) |
| Office | 2,921.76 |
| Retail | 2,591.10 |
| Storerooms | 454.88 |
| Total | 5,967.74 |
| Parking | Bays |
| Basement | 18 |
| Covered | 48 |
| Uncovered | 15 |
| Total | 81 |
Zoning and Title Deed Information
Title Deed Information
Sectional Title:
- Title Deed Number: ST768/2016
- Legal Description: Sections 1,2, 3, 4, 5, 6, 7, 8 and 52 SS Fairweather (44/1994)
- Registered Owner: Delta Property Fund Limited
- Local Authority: Kroonstad, Moqhaka Local Municipality
- Extent: Combined unit size 6,055 m²
Freehold Title:
- Title Deed Number: T766/2016
- Legal Description: Erven 184, 185, 186 Kroonstad
- Registered Owner: Delta Property Fund Limited
- Local Authority: Kroonstad, Moqhaka Local Municipality
- Extent: Combined unit size 2,676 m² (892 m² each)
Zoning Information
- Zoning: Business
- Primary Uses: Mixed-use
- Height Restriction: Not available
- Coverage: Not available
- F.A.R.: Not available
- Parking: Not available
- Building Lines: Not available
Sectional Areas
| Section Number | Description | Size (m2) |
| 1 | Basement Parking | 519 |
| 2 | Storeroom | 459 |
| 3 | Retail | 2,784 |
| 4 | Retail | 200 |
| 5 | Retail | 78 |
| 6 | Retail | 51 |
| 7 | Retail | 470 |
| 8 | Offices | 1,215 |
| 52 | Retail | 279 |
| Total | 6,055 |
Note 1: The total size of the Sectional Scheme is 8,621 m². The Delta 6,055 m² portfolio equates to 70% of the complex.
Note 2: Roof works in progress, repairing and adding new eaves.
Tenancy
| Tenant | Leased Area |
| Department of Correctional Services | 21.58 m² |
| Library for Dept. Sports, Arts, Culture, Science | 437.25 m² |
| Z One Cash Loans | 159 m² |
| Tlokotsi Financial Services | 45.31 m² |
| Pick a Pie | 179.74 m² |
| Save Mini Tuck Shop | 56.2 m² |
| Kali Clothingza | 15.48 m² |
| Top Lock & Numberplates | 33.6 m² |
| Khantse Curtains | 36.21 m² |
| Maningi Meats | 660.22 m² |
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 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
|
CBRE Excellerate
|
||
|
|
||
Disclaimer
Legal Information – Disclaimer South Africa:
Whilst reasonable care is taken to ensure that the information contained on this website is accurate, The Company cannot guarantee its accuracy and we reserve the right to change the information on this website (including these terms and conditions) at any time without notice.
Any person who accesses this website or relies on this website or on the information contained in this website does so at his or her own risk.
Information, ideas and opinions expressed on this website should not be regarded as professional advice or the official opinion of the Company and you are encouraged to consult professional advice before taking any course of action related to information, ideas or opinions expressed on this website.
The website and its content (including but not limited to pictures of properties, text, graphics, advertisements, files, links, financial calculators, general property information, or other items) are provided on an “as is” and “as available” basis, without any representations or warranties of any kind (express or implied). The Company disclaims all representations and warranties, including those regarding the condition, quality, performance, accuracy, suitability, fitness for purpose, completeness, or freedom from viruses or other harmful mechanisms of the website content. The Company makes no representation or warranty that the website content will be accurate, up to date, uninterrupted, or error-free. The Company cannot be held liable for any inaccurate information published on the website, except where such liability arises from gross negligence or wilful misconduct.
Indemnity:
You agree to indemnify the Company against any loss, claim, or damage which may be suffered by yourself or any third party arising in any way from your use of this website, website content, and/or any linked third-party website.
Limitation of Liability:
The Company shall not be liable for any direct, indirect, incidental, special, or consequential loss or damages arising from your use of, or reliance upon, the website or the website content; or your inability to use the website or the website content, and/or unlawful activity on the website and/or linked third-party websites. The Company is not liable for any loss or damage suffered by you or any third party arising in any way from your use of this website, website content, and/or any linked third-party website. You acknowledge that you are solely responsible for the use to which you put this website and all the results and information you obtain from it, and that all warranties, conditions, undertakings, representations, and terms, whether expressed or implied, statutory, or otherwise, are excluded by the Company to the fullest extent permitted by law.
© 2024 Singer Vielle Ltd