Property Details

The property boasts a total under-roof area of 2,306 square meters, situated on an expansive erf measuring 4,231 square meters. Tenant 1, with a lease term of 3 years beginning on November 1, 2021, pays a monthly rent of R23,540, subject to a 7% escalation. Tenant 2, under a 2-year lease starting from August 1, 2022, pays R24,000 per month, with rental adjustments based on CPI. Tenant 3 occupies the space for 5 years starting from October 1, 2022, paying R16,000 monthly, subject to a 6% increase. Tenant 4, commencing their 3-year lease on August 1, 2020, pays R16,000 monthly, with an 8% escalation. Tenant 5, beginning their 3-year lease on May 1, 2022, pays R9,000 monthly, also subject to an 8% escalation. Additionally, monthly expenses include rates of R12,382 and insurance costs of R4,559. In summary, the property offers a vast space of 2,306 square meters under roof, located on a generous 4,231 square meter erf. Tenant arrangements vary, with leases ranging from 2 to 5 years and rentals spanning from R9,000 to R24,000 per month. Escalations in rent vary from 6% to 8%, with some tenants subjected to fixed percentage increases while others have adjustments tied to the Consumer Price Index (CPI). Moreover, monthly expenses covering rates and insurance total R16,941.