Please consider the environment before printing this Property
Mixed-Use Affordable Housing Conversion Opportunity in Johannesburg CBD| 17 Harrison Street & Kay Street
17 Harrison Street & Kay Street, Marshalltown, Johannesburg, South Africa, 2001
for saleprivate treaty
Location
Summary
12 Storey office building with ground floor retail
GLA: 12,379m²
Kay Street parkade 400m away offering additional bays
Great conversion opportunity
Situation
Marshalltown is known as the oldest part of Johannesburg and boasts many iconic buildings such as
the Rand Club, the Carlton Centre, and Bank City. The suburb hosts many corporations’ head offices
and is known as a commercial hub within Johannesburg. Commissioner Street, Marshall Street, Anderson Street, Simmonds Street and Eloff Street are some of the major thoroughfares through the area.
The subject property forms part of the Marshalls Town node of Johannesburg CBD and partially
fronts onto Main Street where CID interventions have beautified the sidewalks and restricted traffic
flow by introducing narrow roads.
Marshalls Town has a large contingent of corporate offices including banks and mining house who
readily contribute the CID levies. The CID levies are used to enhance services to improve the
physical and social environment in the area. The services provided are supplementary to those
provided by the local authorities and include security patrol officers, pavement cleaning, litter
collection and maintenance of public place.
Description
The subject property has been improved with a twelve-storey building comprising ground floor retail
and a first floor parkade, providing 40 parking bays. Office space has been provided in the building’s
basement area.
The central core of the building houses two lift bays with two lifts in each bay as well as internal
staircases. Male and female bathrooms have been provided on the half landings of the staircases.
A fairly small lobby to the office space has been provided on the ground floor level. Two escalators
from the ground to the lower ground floor provide access to the passenger lifts from the lobby area.
The approach to the office entrance is typical of that an older CBD office building. The office space
is air conditioned via a central plant and in addition there is a sprinkler system, smoke detection and
power skirtings.
The floor space is fairly flexible with the majority of internal walls being demountable. The building
could be leased to a single tenant or a tenant per floor without any alterations. With minor
alterations, more than one tenant could be accommodated per floor.
Currently 729sqm of the 1 082sqm of retail space is occupied.
Kay Street parking provides additional parking to 17 Harrison Street and comprises of 68 covered
parking bays enclosed with precast concrete walling. The property is located on the corner of Kay
Street and Harrison Street within walking distance of 17 Harrison Street.
Zoning and Title Deed Information
Title Deed Information
Title Deed Number: T21611/2016
Legal Description: Erf 1146 Marshalls Town and Erf 1039 Marshalls Town 1
Registered Owner: Delta Property Fund Limited
Local Authority: City of Johannesburg
Extent: 3,710 m² combined (1,983m² and 1,727m² respectively)
Zoning Information
Zoning: Business 1
Primary Uses: Office building with ground floor retail and parkade
Coverage: 100%
F.A.R: 4,3
Parking:4 bay/s per 100m² GLA
Building Lines: 1,5m form street boundaries and 2m from rear/side boundaries
Rentable Areas
Use
Size (sqm)
Office
11,297
Retail
1,082
Total
12,379
Parking
Bays
Covered (Kay Street)
68
Basement Parking
40
Total
108
Tenancy
Tenant
Leased Area
ABSA Bank Limited
326 m²
Atlas Finance
124 m²
Flucks Butana Mhlekwa Skoshana
77 m²
SWU Credit Solutions
49 m²
The Fashion Hub
59 m²
Forecasted Monthly Rates and Taxes
Rates and Taxes
R88,858
Projected Rates & Taxes July 2023
R94,189
CID Levies
R16,551.88
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.
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.