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4 Storey Office Building in Welkom
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for sale
Private Tender
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Location
Summary
- 4 storey office building, with ground floor retail in Welkom Central
- Anchored by SAPS, occupying 876.76 sqm of GLA
- In close proximity to a major arterial route, Stateway (R73)
Situation
The property is located in the Central Business District of Welkom, the second-largest city in the Free State province of South Africa. Welkom is located approximately 140km northeast of Bloemfontein and is also known as The Circle City or The City within a Garden. The property is situated on De Kaap Street between Buiten and Ryk Street, with easy access to public transport and nearby amenities, such as Goldfields Mall and Goldfields Casino.
Description
The site is improved with a 4 storey commercial building, comprising of ground floor retail and three floors of office accommodation. The offices are plastered and painted, with brick and mortar infill, part dry wall partitioning and finished with carpets, drop-down ceiling boards and fixed fluorescent lighting. The reception area and passageways are tiled. There are separate male and female ablution facilities and kitchens on each floor. The building is serviced with a single lift and has a concrete Ushaped staircase connecting the floors. The building is well-secured and is tenanted by South African Police Service, occupying the bulk of the GLA (876,76 sqm). The retail component is vacant and suited to multiple tenants. The building has 10 covered parking bays, accessible from De Kaap Street and Ryk Street. The gross building area is 1,832sqm, and GLA is 1,728sqm. The opportunity exists to let the vacant areas or plan a residential conversion on expiry of the current leases.
Title and Zoning Description
Title Deed Information
- Title Deed Number: T1275/2016
- Legal Description: Erf 8974 Welkom
- Registered Owner: Delta Property Fund Limited
- Local Authority: Matjhabeng Local Municipality
- Extent: 832 sqm
Zoning Information
- Zoning: Business Type A
- Primary Uses: Office, Shops, Café
- Height Restriction: A minimum of 8.75m
- Coverage: 100%
- F.A.R: 0.45
- Parking: 2 bays per 100m²
- Building Lines: Building can be constructed on boundaries
Rentable Area
| Description | Size (Sqm) |
| Office | 1,407.99 |
| Retail | 320.54 |
| Total | 1,728.53 |
Parking |
Bays |
| Covered | 10 |
| Total | 10 |
Tenancy
Tenant: SAP Service
- Area: 876.76 sqm
- Tenant has Right of First Refusal
Tenant: FSGLTA (FS Gambling, Liquor & Tourism)
- Area: 102.27 sqm
Forecasted Monthly Rates and Taxes Expense
| Period January 2023 | |
| Rates and Taxes | R17,713.00 |
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
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CBRE Excellerate
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Disclaimer
Legal Information – Disclaimer South Africa:
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