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Excellent investment- buying it as a going concern.
No VAT or transfer duties, if you buy it via a VAT registered entity.
A surplus of R 180 000.00 pm after all deductions, with just more than 95% of the total of 40 offices rented out.
Having a variety of smaller tenants, lower you risk substantially.
All services are contracted out, with only 2 persons employed.
Even during lockdown, the owners had no disruptions with rental income.
Summary of the property:
Building floor size: 2244 sqm, consisting out of two identical blocks
Stand size: 6358 sqm.
Each building has 2 floors, with ladies and men’s toilets on each floor.
Parking bays covered: 72.
Open parking: 89.
Air-conditioning/split wall units: 89.
Water tank per block is 5000 l, totaling10 000 liters.
Standby generator of 80 Kva
The building is in an excellent condition. It is managed by Dave, who basically keeps the ship on course on multiple levels, on behalf of the 3 directors. I can recommend him.
