Commercial - Office for Sale in Bryanston

Description

Accepting Offers. DESCRIPTION: The property is located within popular and sought after Braes in Bryanston. Situated on corner William Nicol and Bryanston Drive and in close proximity to Nicolway Shopping Centre in Bryanston with easily accessed from the N1 highway and all major public transport routes. CAP RATE - 10% TENANTS: • Richfield Graduate Institute of Tech • Stratford Property Ventures • AAA School Of Advertising • Foxvest • Hamtern Financial Services PROPERTY: • 100% Occupied • 7 % Escalation • Cap Rate - 10% • Parking - basement/covered/open INCOME • Total Gross Rental - R8 093 337.00 • Storage - R30 329.00 • Open parking - R487 685.00 • Covered parking - R32 403.00 • Basement parking - R925 430.00 • Total Income - R9 569 184.00 • Insurance expense - R196 182.00 • Property management fee - R143 538.00 • Contractual expenses - R304 702.00 • Levies - R1 029 168.00 • Rate & taxes expenses - R1 405 428.00 • Municipal expenses - R908.00 • Repairs & maintenance - R126 715.00 • Total net expenses - R3 206 640.00 • Total NPI - R6 362 545.00 P.S. Not quite right? Not a problem. I have plenty of private stock that might work for you - Call me to learn more. DETAILS: • Erf No (Extent): 31-4, Bryanston (2 286m²) • Erf No (Extent): 30, Bryanston (9 187m²) DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to bidding.