Modern Building for sale, fully let and ideal for NSFAS Student Accommodation

Residential building in brilliant location close to the Gautrain PTA Cbd station.

THE BUILDING

• Fully let with working tenants and students.
• Newly revamped and upgraded.
• CCTV network throughout the building. (entrances, exits, each floor and at lifts)
• No load shedding area.
• Heat Pump Geyser System.
• Biometric Access Control with Turnstile Gate.
• All fire equipment, OTIS lifts, emergency signage and lights in order, serviced and in working condition.
• Massive hall (410m2) which is a development opportunity to add more apartments/rooms or turn into indoor sport facility/study facility.
• Universal DSTV with WIFI (IV WEB) in whole building charged at R150.00 per month.
• 3 x Commercial/Retail Shops (119m2) currently let to a ministry and food outlet. Massive opportunity to cater for students with a take away, hair salon and internet cafe.
• Servant's quarters and office with beautiful front desk counter.
• Entertainment area with artificial lawn.
• Small gym facility on rooftop.
• Large rooftop entertainment facility with most beautiful views.
• No parking on premises, but on street secure parking in Visagie Street. Parking arranged at R250pm in adjacent building.
• Laundry facility with basins. No machines.
• Communal kitchens and bathrooms on each floor with energy saving Snappy Stoves.
• Communal areas cleaned.

APARTMENT MIX:

• 81 x Apartments in total which consists of -
  - 60 x 18m2 rooms with communal kitchens and bathrooms and lounge area. R3 200.00 rent.
  - 4 x 9m2 rooms with communal kitchens and bathrooms and lounge area. R2 600.00 rent.
  - 4 x 24m2 rooms with communal kitchens and bathrooms and lounge area. R3 600.00 rent.
  - 5 x Bachelor apartments 17 - 23m2 with en-suite bathrooms and own kitchen. R3 500.00 rent.
  - 8 x One Bedroom apartments 27 - 30m2 with bathroom and own kitchen. R4 200.00 rent.

THE AREA

• Building is 3 blocks from Gautrain.
• Massive development in this area.
  New Department of Agriculture and Land Reform will be completed early in 2023.
• 3 500 employees.
  Growthpoint busy with TSHWANE GATEWAY DEVELOPMENT. +-3000 employees.
  UNISA planning to build a campus opposite TSHWANE GATEWAY.
• Rental demand will increase and capital growth guaranteed.

THE FINANCES

• Current gross income: R288 000.00 x 12 months
• Current Expenses: R54 000.00
• Current Net Income: R234 000.00
• Current Net Annual Income: R2.8m
• Prepaid electricity and water bill gets split between tenants.
• Only rates and waste payable by landlord.(R4 636.00)
• Wifi paid by tenants @ R150.00 pm.

STUDENT ACCOMMODATION

• Share Transfer option: Only asset in company is this building. Do a share transfer and save R2.1m on transfer duty.
• Seller also registered for VAT, so Zero VAT transaction possible - save R2.1m transfer duty.
• Partition only 14 of the flats, rest just furnish and sleep 172 x students minimum.
• 2025 NSFAS Accommodation Grant is R5000.00. - single or double rooms (per student).
• NSFAS Student Accommodation potential income: R8.6m Gross Annual Income.
• Building already has CCTV, Biometric, Entertainment, Sports, Emergency Signage, Staff for cleaning, Caretaker and Security.
• 4 x 5000 liter heat pumps, reducing electricity costs with 25%. Massive save on geyser maintenance.
• Development opportunity at the hall section where more units can be developed.
• 3 x Shops in R15 000.00 currently, but could be a massive opportunity for higher income with student related products and services.

LOCATION

• To Gautrain: 1.9km
• To Unisa: 2km
• To TVET: 1.2km
• To TUT Main Campus: 6.4km
• TUT Arcadia Campus: 1.4km