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Please consider the environment before printing this Property |
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Sustainable living: EDGE certified residential development, The Village Clubview
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for sale
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Location
Summary
- 290 apartments over 4 storeys
- Sectional Title Register has been opened
- Easy access to the N1 and N14 highways
- 5-minute drive to the Centurion Gautrain Station
- Projected Net Operating income for the period 1 July 2024 to 30 June 2025 of approximately R21.5 million
Situation
The property is situated in Clubview, Tshwane, in the Centurion area. It is accessed from
Von Willich Avenue which leads off Lyttelton Road – which becomes Jean Avenue (M34).
The Jean Avenue Sasol Filling Station is opposite the property.
The property enjoys easy access to the N1 and N14 highway, being a few hundred
metres from the Jean Avenue Off ramp, making for a quick commute to Johannesburg,
Midrand and Pretoria. The development is also located close to the Centurion Gautrain
Station adding further convenience to travel to work opportunities across Gauteng.
The area comprises a variety of retail offerings, offices and light industrial facilities as
well as extensive residential development. The residential accommodation targets the
affordable to entry level buyer as well as the middle to upper-middle housing segment.
Description
The property consists of 290 modern apartments comprising 66 one bedroom, one
bathroom units, 112 two bedroom, one bathroom units and 112 two bedroom, two
bathroom units.
The development comprises 10 four storey walk-up blocks interspersed with covered
parking bays, children’s play-grounds and braai areas.
The development is an EDGE certified Green development meaning that its occupants
save a minimum of 20% on their water and electricity consumption.
Internal finishes include:
- Built in cupboards
- Bathroom with Bath/ Shower combos
- Fitted kitchen with granite tops, space for 2 appliances & 4-plate stoves
- Spacious open-plan lounge
- Fully tiled
- Prepaid electricity and water
- Each apartment has its own balcony or patio
- Fibre & DSTV ready
- There is a provision of 1 parking bay allocated to each unit as well as ample visitor parking (447 bays in total)
The building offers the following facilities to all tenants:
- 24hrs security and strict access- controlled entrance and exit.
- Energy saving features such as centralised heat pumps
- Communal gardens
- Communal braai areas
- Kids play areas
Rentable Areas
*Projected for the period 1 May 2023 to 30 April 2024
Floor | Unit Type | Size (sqm) | No. of units | Current Rentals | Projected Monthly Income |
Ground Floor | 2 Bed, 1 Bath | 58 | 28 | R7 100 | R198 800 |
2 Bed, 2 Bath | 66 | 28 | R7 700 | R215 600 | |
First Floor | 1 Bed, 1 Bath | 42 | 22 | R6 250 | R137 500 |
2 Bed, 1 Bath | 58 | 28 | R6 850 | R191 800 | |
2 Bed, 2 Bath | 66 | 28 | R7 450 | R208 600 | |
Second Floor | 1 Bed, 1 Bath | 42 | 22 | R6 250 | R137 500 |
2 Bed, 1 Bath | 58 | 28 | R6 850 | R191 800 | |
2 Bed, 2 Bath | 66 | 28 | R7 450 | R208 600 | |
Third Floor | 1 Bed, 1 Bath | 42 | 22 | R6 250 | R137 500 |
2 Bed, 1 Bath | 58 | 28 | R6 850 | R191 800 | |
2 Bed, 2 Bath | 66 | 28 | R7 450 | R208 600 | |
Average |
| 290 | R6 799 | R1 971 710
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Projected Total Monthly Income |
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| R2 028 100
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Projected Annual Income |
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| R24 337 200
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Tenancy
The property has experienced stabilized levels of occupancy since its inception barring a few dips caused by abnormal events like lockdown. Vacancy levels are approx. 4% which accounts for normal movements of tenants.
One bedroom, one-bathroom units rent at approx. R6 250pm while the two bedroom units vary from R6 850 to R7 700, depending on which floor they are on and how many bathrooms they have.
*As at May 2023 – April 2024.
NOI
Period July 2024 – June 2025 | |
Projected Gross Income (ZAR) | R25,561,011 |
Projected Gross Expenses (ZAR) | R3,976,879 |
Projected Net Operating Income (ZAR) | R21,584,131 |
Zoning and Title Deed Information
Erf: 1248 Clubview Ext 102 Township and 1275 Clubview Ext 114 Township
Scheme Name: The Village
Scheme No/Year: ST17 /00549
Registered Owner: I H S Fund II SA Rental Trust 2
Local Authority: City of Tshwane Metropolitan Municipality
Extent: 1,0368 hectares (Erf 1248) and 1,1835 hectares (Erf 1275)
Extent of the Scheme: 16 917 sqm
Zoning: Residential 3
Height Restriction: 4 storeys
Coverage: In accordance with the approved Site Development Plan
Density: N/A
F.A.R: 0.8 provided that a maximum of 139 dwelling units shall be developed on the consolidated erf
Building Lines: A 5m building line shall be applicable alongside the south-western boundary of the erf. All other boundaries, in accordance with the approved Site Development Plan
Parking: One covered and paved parking space for each dwelling with one to three or more habitable rooms. One additional paved parking space for every three dwelling units with three habitable rooms. One paved parking space per three dwelling units for visitors.
VAT
Not applicable
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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