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R 50 000 000

Commercial Property for Sale in Pretoria Central

520 Paul Kruger Street, Pretoria Central, Pretoria

5 055 m²

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Commercial building for sale - 152 x 1 bedroom apartments ideal for student accommodation

Asking price r50 000 000.00 EXCLUDING VAT

LOCATION Erf 767, Pretoria Central

ZONING Zone 4

Height 9 levels (Ground plus 8)

AGE +- 35 Years

ERF NR AND SIZE Erf 767 (1 276m²),

PARKING None at building, but options in immediate surrounding

FEATURES AND FACILITIES CCTV Surveillance cameras at all entrances and lifts.

2 x Utility Elevators – newly upgraded.

1 x Fire Escape Staircase.

1 x Office with Storage facility.

1 x Restroom and bathroom which can be converted not a Caretaker apartment.

1 x Laundry facility with basins and washing machines.

1 x Washing Lines.

1 x Open Patio Area with artificial lawn.

Prepaid Electricity with 152 meters in each apartment.

Water is included in the rent.

Wifi is freely available to tenants.

2 x 10 000 kl water reserve tanks on roof.

1 x Reception area with security counter and Biometric Security entrance...

Asking price r50 000 000.00 EXCLUDING VAT

LOCATION Erf 767, Pretoria Central

ZONING Zone 4

Height 9 levels (Ground plus 8)

AGE +- 35 Years

ERF NR AND SIZE Erf 767 (1 276m²),

PARKING None at building, but options in immediate surrounding

FEATURES AND FACILITIES CCTV Surveillance cameras at all entrances and lifts.

2 x Utility Elevators – newly upgraded.

1 x Fire Escape Staircase.

1 x Office with Storage facility.

1 x Restroom and bathroom which can be converted not a Caretaker apartment.

1 x Laundry facility with basins and washing machines.

1 x Washing Lines.

1 x Open Patio Area with artificial lawn.

Prepaid Electricity with 152 meters in each apartment.

Water is included in the rent.

Wifi is freely available to tenants.

2 x 10 000 kl water reserve tanks on roof.

1 x Reception area with security counter and Biometric Security entrance door.

1 x Refuge area where dustbins are stored.

VACANCIES Mostly 100% full, maximum 5% at certain times like year-end.

AVERAGE INCOME PM Residential Income +-R600 000 P/M

+-R7 000 000.00 P/A

CURRENT EXPENSES PM Municipal Sewer R12 000.00

Water R31 000.00

Wifi R9 300.00

Refuse R18 000.00

Prepaid Electricity (R130 000.00) recovered from tenants

Maintenance, cleaning and repairs R5 000.00 – r15 000.00

ESTIMATED STUDENT BEDS

POTENTIAL INCOME 416 x beds - No partitioning required

416 x R5 000.00 pm x 10 months = R20 800 000.00 P/A Gross

Minimal conversion needed with no partitioning required. Dept of Education require 8m2 per student or 14m2 per 2 students sharing.

Need to furnish the apartments with curtains, beds, study desks, microwave, fridge, study lamps and upgrade the security system and laundry.

Additional entertainment/study areas could be considered on the rooftop with the necessary Health and Safety requirement.

CONFIGURATION & APARTMENT MIX RESIDENTIAL

152 x ONE BEDROOM APARTMENTS

- 56 x large 1 bedrooms (30m²) Rent R4 500 to R4 700.00

- 96 x medium 1 bedrooms (25 - 28m²) Rent 3 450.00 to R4 000.00

COMMERCIAL

4 x Shops in total

- Romans Pizza 175m2

- KFC 387m2

- ABSA ATM 16m2

- TAKE-AWAY TUCK SHOP 124m2

GLA

4 352m2 Residential apartments

703m2 Commercial shops

5 055m2 Total Lettable GLA

LOCATION

- 500m from Gautrain Station

- 907m from TVET University Pretoria Central

- 1km from Unisa Main Campus

Listing number: P24-115111126, Image number: 1

Listing number: P24-115111126, Image number: 2

Listing number: P24-115111126, Image number: 3

Listing number: P24-115111126, Image number: 4

Listing number: P24-115111126, Image number: 5

Listing number: P24-115111126, Image number: 6

Listing number: P24-115111126, Image number: 7

Listing number: P24-115111126, Image number: 8

Listing number: P24-115111126, Image number: 25

Property Overview

Listing Number

115111126

Type of Property

Commercial Property

Street Address

520 PAUL KRUGER STREET, Pretoria Central

Lifestyle

Security Complex, Student Accommodation, University/College Community

Listing Date

22 October 2024

Availability Date

21 October 2024

Erf Size

1 276 m²

Floor Size

5055 m²

Levies

R 60 000

Rates and Taxes

R 38 000

Zoning

General Residential

Floor Number

Facilities

Bedrooms

152

152 X 1 BEDROOM APARTMENTS WITH OWN KITCHEN, LIVING AREA AND BATHROOM

Bathrooms

152

Kitchens

152

Building

Building Name

FASSER HOUSE

Gross Lettable Area

5055 m²

Green Building

Building Grading

B Grade

Multi Tenanted

Yes

Facing

Above Road, Mountain View, West

Roof

Flat Roof

Wall

Plaster

Window

Steel

Standalone Building

Yes

Number of floors

Backup Water

Water Tank

Other Features

Security

24 HOUR GUARD WITH SECURITY GATES WITH CCTV

Nearby Public Transport

Bus, Train, Minibus Taxi

Internet Access

Fibre

Wheelchair Accessible

Yes

Backup Water

Yes

Points of Interest

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