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Protected: 4 Star A-Grade Multi-Tenant Office Complex – Mbombela Square, Mbombela
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for sale
Private Tender
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Location
Summary
- 4 Star Green rated A-Grade multi-tenant office complex consisting of 4 x multi storey office buildings, with ample basement parking, with a GLA of 14,995m²
- Strategic Location:
The property is centrally located in Mbombela on Samora Machel Drive, a key route connecting the city to the N4 highway. Its prime position adjacent to the Mpumalanga High Court creates a dynamic leasing environment, offering competitive terms and strong demand for office space. - Favourable Lease Terms:
The current management team has retained the same tenants since the building opened in 2017/18. The tenants have never been in arrears on rental obligations. The opportunity to acquire this asset includes the current lease, with quality national tenants. This is an opportunity to acquire a cash-generative asset in a growing node with strong likelihood to renew leases to remain in the building for the long term. - Superior Building Quality:
The offices have been built to the highest standards by a leading developer in the greater Mpumalanga area. This includes Green building certification, rainwater harvesting with four underground water tanks, and back-up power via on-site generators. Additionally, there is a solar PV system on the roof of the building. The complex is clean and aesthetically pleasing, enabling it to leverage to its highly desirable location.
Situation
Mpumalanga is located in the North Eastern region of South Africa bordering onto Gauteng, Limpopo, Swaziland and Mozambique. Mbombela, being the capital of the province, is situated along the N4 highway en route to Maputo. The city serves as the headquarters for Local, Provincial and National Government Sectors.
Located approximately 344 km east of Johannesburg and Pretoria the City of Mbombela Local Municipality in Mpumalanga has evolved beyond its coal-mining roots. Today, the region boasts a diverse economy, with strong sectors in tourism, agro-processing, supply chain management, and logistics.
The area boasts excellent roads and railway connections, making it highly accessible. Due to its popularity as a tourist destination, Mpumalanga is served by a number of small airports as well as the Kruger Mpumalanga International and Nelspruit Airport.
Located on Samora Machel Drive, a critical linkage that facilitates traffic flow from the N4 highway both to the east and west. This strategic location enhances the accessibility and desirability of the asset.
Description
The complex features a curved rectangular design, incorporating a partial four-story structure with an attached basement providing parking spaces and storage rooms.” to “The precinct features a curved rectangular design, incorporating several office structures with an attached basement providing parking spaces and storage rooms.
It comprises:
Building 1 – single storey building with open plan office space, ablution facilities and a kitchen.
Building 2 – three storey building with various offices, boardrooms, ablution facilities and a kitchen.
Building 3 – seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors.
Building 4 – seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors.
Building 5 – seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors.“
The subject complex features meticulously maintained, high-quality finishes that demonstrate exceptional workmanship throughout. The property is in excellent condition, with no immediate repairs or maintenance required. It showcases a modern design and layout and has been constructed using durable, low-maintenance, conventional building materials. While attention to detail is evident, the construction follows a traditional and practical approach, ensuring functionality and longevity.
The bulk of the site around the building is brick/concrete/tar paved. The stand is fully fenced with clear view fencing. Some decorative gardens and artwork exist along the entrance walkways to the buildings. The formal entrance of the complex is towards the south-eastern boundary, off the N4, but alternatively direct access is available to the parking lots / basement parking.
Forecasted Monthly Rates & Taxes
Current Rates & Taxes: R348,549.10
Title Deed Information
| Title Deed Number | K279/2014S |
| Legal Description | Remaining Extent of Portion 47 of the farm Besters Last 311, Reg Div. JT, Mpumalanga Province |
| Registered Owner | Rangewave Trade and Invest 14 (Pty) Ltd |
| Local Authority | Mpumalanga Province |
| Extent | 21 157 m2 |
Zoning Information
| Zoning | Special |
| Primary uses | Offices |
| Coverage | 80% |
| Height | 8 Storeys |
| F.A.R | 2 |
| Bulk | Bulk allowed of 42,314m2. Current bulk utilized of 27,241m2 with additional bulk of 15,073 m2 available |
| Parking | As stipulated in Table “F” of the Mbombela Town Planning Scheme |
| Building Lines | 5m to the street and 2m to the sides and rear boundaries |
| Servitudes | The property is subject to the following servitudes and endorsements as per Title deed K279/2014S |
Building Description
| Building 1 Single storey building with an open plan office space, ablution facilities and a kitchen. |
| Building 2 Three storey building with various offices, boardrooms, ablution facilities and a kitchen. |
| Building 3 Seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors. |
| Building 4 Seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors. |
| Building 5 Seven storey building. Each floor comprises various offices, boardrooms, ablution facilities and a kitchen. The building also has two basement parking floors with store rooms. There is one lift that connects all floors. |
Rentable Areas
| Tenant | SQM | R/SQM | Parking Bays | Rate/Parking Bay | OPS Cost Recoveries | Total monthly (Incl VAT) |
| Provincial Treasury | 1236 | 323 | 32 | 770 | 44 | R512,821.73 |
| Public Works Transport | 1869 | 323 | 36 | 770 | 44 | R765,251.06 |
| Public Works Infrastructure | 1848 | 323 | 64 | 770 | 44 | R780,051.39 |
| Public Works Social Development | 491 | 323 | 20 | 770 | 44 | R209,721.64 |
| Department of Health | 1946 | 323 | 60 | 770 | 44 | R815,326.87 |
| Dept Economic Development | 1610 | 323 | 50 | 770 | 44 | R668,540.34 |
| Department of Social Development | 5018 | 258 | 175 | 596 | 44 | R1,734,108.47 |
| Public Works Social Development (increase space taken up) | 915 | 323 | 64 | 770 | 44 | R412,844.01 |
| Dube Attorneys | 25 | 235 | 1 | 535 | 53 | R7,748.75 |
| Pasqa Store Unit | 7 | 45 | R315.00 | |||
| Lidwala Store Unit | 15 | 45 | R675.00 | |||
| Orbic Store Unit | 15 | 45 | R675.00 | |||
| 14995 | 502 | R5,908,079.26 |
Tenancy
| Tenant | SQM | Lease Start | Lease End | Escalation |
| Provincial Treasury | 1236 | 1/8/2019 | 30/6/2029 | 7.0% |
| Public Works Transport | 1869 | 1/8/2019 | 30/6/2029 | 7.0% |
| Public Works Infrastructure | 1848 | 1/8/2019 | 30/6/2029 | 7.0% |
| Public Works Social Development | 915 | 1/4/2025 | 30/6/2029 | 7.0% |
| Public Works Social Development | 491 | 1/8/2019 | 30/6/2029 | 7.0% |
| Department of Health | 1946 | 1/8/2019 | 30/6/2029 | 7.0% |
| Dept Economic Development | 1610 | 1/11/2021 | 30/10/2026 | 6.0% |
| Department of Social Development | 5018 | 1/6/2022 | 31/5 2024 | 7.0% |
| Dube Attorneys | 25 | 1/12/2019 | 30/11/2024 | 0.0% |
| Pasqa Store Unit | 7 | 1/1/2020 | 31/12/2024 | 0.0% |
| Lidwala Store Unit | 15 | 1/1/2020 | 31/12/2024 | 0.0% |
| Orbic Store Unit | 15 | |||
| 14995 |
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 offered for sale through a Private Treaty process under a Sole Marketing Mandate with CBRE-X online.
Interested parties can register on the CBRE-X online platform to access the Non-Disclosure Agreement (NDA).
To obtain full access to the Due Diligence information in the data room, an executed NDA is required, along with details about the entity and key individuals expressing interest in the property. This information may be provided through a link to your company website, a company profile, or brief resumes for the company and key individuals involved.
To submit an offer on the property, proof of funds or a comfort letter from a financial institution, indicating a favorable consideration for financing, must be provided. Interested parties are encouraged to submit their best offer as soon as possible.
Only parties that have submitted an NDA and the required information will be invited to view the property in the presence of the Agent or a representative of the Seller.
The Seller reserves the right to accept any offer but will instruct the Agent to notify all interested parties (who have signed an NDA and accessed the Due Diligence information via CTP) if an offer is under consideration.
The Agent will present all offers to the Seller and communicate acceptance to the successful bidder, while informing other parties of the outcome.
Offers will be evaluated based on the following criteria:
The price offered.
Demonstrated ability to perform, including proof of funds or a comfort letter.
The conditions attached to the offer and the timeline for concluding the transaction.
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
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