|
Please consider the environment before printing this Property |
|
This property offers an ideal location for student living, with easy access to universities, colleges, and public transportation.
|
for sale
Private Tender
|
Location
Summary
- 5 Storey office building
- GLA: 8,566 m²
- Potential student accommodation conversion
Situation
Bloemfontein, is the capital of Free State province and it is the judicial capital of South Africa. While being known for its scenic beauty, with natural and manmade attractions, such as King’s Park and the Franklin Game Reserve, it is also a major mining and agricultural hub.
Bloemfontein Central is accessible from the N8. 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.
African Life Building is located on the corner of St. Andrews Street and Oliver Tambo Road, a major arterial road through the centre of the Bloemfontein Central. The property is conveniently located, with easy access to public transport and nearby services such as the Bloemfontein Train Station, Hoffman Square and various shopping malls. The CBD is also a prominent mixed-use area which offers a combination of high-rise office buildings that accommodates tenants such as DPW and FET College. The prominent Hoffman Square is located north of the property.
The property enjoys easy access to the required amenities and main arterials which include Wes Burger Street, Oos Burger Street and Nelson Mandela Drive.
The immediate area surrounding the property 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 property comprises an L-shaped stand measuring 3 522m² which is situated on the corner of St. Andrews and Church Streets in Bloemfontein CBD. The basement parking is accessed from Church Street via its western boundary.
This high-rise building consists of retails shops on the ground floor and various floors of offices above.
The retail segment provides line shops that range between 65m² and 895m², with an average shop size of 302m².
Title Deed and Zoning Information
Title Deed Information
Title Deed Number: T161/2016
Legal Description: Remainder of Erf 24915
Bloemfontein (3,008 m²), Erf 1972 Bloemfontein (188 m²), Portion 1 of Erf 1969 Bloemfontein (129 m²), Erf 2107 Bloemfontein (197 m²)
Registered Owner: Delta Property Fund Limited
Local Authority: Mangaung Metropolitan Municipality
Zoning Information
Zoning: Business
Primary Use: Offices
Height Restriction: 28 m
Coverage: No restriction
Bulk: 6,0
Building Lines:
0 m on East Burger Street
3,0 m on Maitland Street
0 m on Fichardt Street
0 m on Yoxail Street
0 m on St Andrews Street
0 m on Church Street
Rentable Areas
| Description | Size (m²) |
| Retail | 2 623 |
| Offices | 6 333 |
| Storage | 103 |
| Total | 9 058 |
| Parking | Bays |
| Basement bays | 75 |
| Total | 75 |
| Ratio | 0.83 bays per 100m² |
Tenancy
| Tenant | Leased Area |
| Higher Space | 20,59 m² |
| Dream Supermarket | 178.69 m² |
| Fair Price | 422.43 m² |
| Stadium Fast Foods | 246 m² |
| Higher Space | 894.76 m² |
| Peace and Love Hair Salon | 69.07 m² |
| OMT Electronics | 79.03 m² |
Forecasted Monthly Rates and Taxes
July 2024
Rates & Taxes: R43,145
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