Midrand. 215, 216 & 217 The Palms Office Park - Nupen Crescent

Transcription

1 Midrand 215, 216 & 217 The Palms Office Park - Nupen Crescent Thursday, 13 March 12h00 The Maslow, Corner Grayston Drive & Rivonia Road Sandton Warren Aronson warrena@aucor.com Terms & Conditions R refundable deposit (strictly bank guaranteed cheque or cash transfer only). Bidders must provide original proof of identity and residence on registration. No cash will be accepted at the auction. No exceptions. All bids are exclusive of VAT. Aucor Property may bid up to reserve on behalf of the sellers. Subject to change without notification. Auctioneer: Darren Winterstein

2 Property Information Locality Property Description Tenancy Rent Roll Images Surveyor Diagram Zoning Information Auction Information Deposit Commission Confirmation period 5% of bid price 10% plus 14% VAT thereon of the bid price 7 Days Rules of auction and conditions of sale are available on

3 General Property Address & 217 The Palms Office Park Nupen Crescent - Halfway House Title Deed Information Title Deed Number Erf 215 (519 Nupen Cres) T95095/2012 Erf 216 (521 Nupen Cres) T95096/2012 Erf 217 (523 Nupen Cres) T95097/2012 Registered Owner Fairvest Prop Holdings Ltd Title Deed Description Erven 215, 216 & 217 Halfway House Ext 12 Registered Erf Sizes Erf 215-1,454m² Erf 216-1,684m² Erf 217-1,552m² Total - 4,690m² Municipal Information Municipality City of Johannesburg Metropolitan Municipality Zoning Residential 2 as per Annexure A535 of Amendment Scheme 762 of the Halfway House and Clayville Town Planning Scheme of In addition to the aforementioned use, the subject property may also be used for business buildings, offices, places of instruction, institutions, public garage and dwelling home offices. See zoning attached Property assessment rates (excluding consumption and additional levies) based on municipal valuation and tariffs published by the City of Johannesburg. Please note that the valuations and rating categories are inconsistent with the properties actual values/use and therefore are subject to change. Erf 2013 Supplementary Valuation Roll Rating Category 2013/14 Rating Category Tariff Annual Assessment Rates Monthly Assessment Rates 215 R Residential R R R Residential R R R Residential R R R R R

4 The subject properties forms part of the The Palms Office Park and are located along Nupen Crescent. The Palms Office Park is situated at the intersection of the R101 and Dale Road, allowing for optimal exposure to passing trade. Halfway House is a suburb of Midrand and is situated approximately 25km north-east of Johannesburg s Central Business District (CBD) and approximately 30km south-west of Pretoria s CBD. Midrand is surrounded by areas such as Glen Austin Agricultural Holdings, President Park Agricultural Holdings Halfway Gardens, Randjiespark and the new Waterfall City. The node is placed nearly 17km north-west of Ekurhuleni s developing aerotropolis zone that is anchored around the O.R. Tambo International Airport. Additional air travel is possible via the Lanseria International Airport which is based roughly 22km to the northwest of the subject property. Midrand is situated in close proximity to national -, major - and metro roads and is located towards the north of Allandale Road (39), east of Old Pretoria Main Road (R101) and the N1 and west of the K101. GPS co-ordinates for the Erf 216 (521 Nupen Cres): S 26 00'05.12"; E 28 08'11.21"

5 Property Description The Palms Office Park comprises of six double storey office buildings, all of the same design, of which 3 are the subject properties. The office blocks are all of a gross building area of between 660m² and 990m² in extent. The subject properties are the three larger office blocks to the south-east of the park. The Palms Office Park 215, 216 and 217 function separately from the smaller office buildings and share a large yard area. Elevated walkways, accessible via staircases, provide for access between the first floor levels of the aforementioned office properties. Shared access to the site is provided in the form of an automated vehicular roller gate and three vehicular roller gates, all situated along Nupen Crescent. Parking to the park is provided in the form of covered -, shaded - and open parking bays. It should be noted that no internal boundary enclosures exist between any of the six office buildings. All the external finishes and fittings to the properties are considered to be of a good quality, with a low maintenance factor. Externally the buildings are continually maintained. The buildings are constructed from brick and offers an external face brick finish. The roofing is tiled with concrete tiles and the window frames are constructed of aluminium. Internally, the condition of the building s differ with variable amounts repairs and maintenance required. Parking to The Palms Office Park 215, 216 and 217 is provided in the form of 5 covered -, 28 shaded - and 46 open parking bays. This amounts to a total of 79 parking bays (below the zoning parking requirement see zoning information). Site improvements to The Palms Office Park 215, 216 and 217 include covered carports, quadruple shaded carports, elevated walkways, staircases with store rooms, a flower box to the street, lighting posts and paving to the remaining site areas. The boundaries of the entire site are enclosed via face brick walling, face brick walling with palisade fencing inserts and lighting and palisade fencing. Access to the site is provided in the form of a single automated vehicular gate, along with a boom gate and three vehicular roller gates. Other service orientated improvements include water meters, electrical power boxes, water taps and a small refuse area. Security patrols and access control services to The Palms Office Park 215, 216 and 217 are provided via an externally contracted security company. Rentable Areas ± 2, m² (based on measurement supplied) Erf Area ± m² Erf Area ± m² 215 Rentable Area Rentable Area Usable Area Usable Area Common Area Common Area Remote Common area Remote Common area Erf Area ± m² 217 Rentable Area Usable Area Common Area Remote Common area 0

6

7 Property Description 215 The Palms Office Park

8

9

10 Tenancy The following are summaries of the leases received (copies available upon request) subject to change. 1. Tenant All in One Academy CC Type of business Driving school Location 215 Ground floor open parking Lettable Area (as per lease) 74.8m² Commencement date 1 January 2014 Termination date 31 December 2016 Escalation rate 8% Basic Rental (as at 1 April 2014) R4, excluding VAT Parking Rental (as at 1 April 2014) R excluding VAT Recoveries Water, Lights, Proportional share of rates, Proportional share of insurance increases 2. Tenant Asande Projects CC Use Administrative offices Location 217 First Floor shaded parking bays Lettable Area (as per sketch) m² Commencement date 1 May 2013 Termination date 30 April 2016 Escalation rate 10% Option 2 years Basic Rental (as at 1 April 2014) R11, excluding VAT Parking Rental (as at 1 April 2014) R1, excluding VAT Recoveries Rates increase, Water, Electricity, Sewerage, Refuse removal and security services

11 Tenancy 3. Tenant De La rue South Africa (Pty) Ltd Use Administrative offices Location 217 Ground Floor shaded and 7 open parking bays Lettable Area (as per lease) 428.7m² Expiry date 30 April 2014 Renewal Option 3 years Escalation rate 8% subject to renewal Basic Rental (as at 1 April 2014) R30, excluding VAT Parking Rental (as at 1 April 2014) R4, excluding VAT Recoveries Rates increase, Water, Electricity, Sewerage, Refuse removal and security services 4. Tenant Enablis Entrepreneurial Network South Africa Use Offices Location 217 First Floor open parking bays Lettable Area (as per supplied) m² Commencement date 1 October 2011 Expiry date 30 September 2014 Renewal Option 3 years Escalation rate 9% - subject to renewal Basic Rental (as at 1 April 2014) R19, excluding VAT (Rent Roll indicates R18,208.45l) Parking Rental (as at 1 April 2014) R1, excluding VAT (indicated as R 1, for covered parking on rent roll) Recoveries Water, Electricity, Sewerage, Refuse removal and security services

12 Tenancy 5. Tenant Mindmagic Multimedia CC Location 215 Ground Floor Lettable Area (as per lease) 62m² Commencement date 1 February 2014 Termination date 31 January 2017 Escalation rate 9% Basic Rental (as at 1 April 2014) R3, excluding VAT Recoveries Water, Lights, Proportional share of rates, Proportional share of insurance increases 6. Tenant Hemic Trading Enterprise CC Location 215 Office 7 + shaded parking Lettable Area (as per lease) 62m² Commencement date 1 August 2009 Termination date 31 July 2012 (expired) Option Period 3 years Basic Rental R2, excluding VAT not escalated since 2012 Parking Rental R excluding VAT Recoveries Water, Lights, Sewerage, Refuse Removal, Security services & Proportional share of rates increase 7. Tenant Lifestyle First Call-Centre CC Location 216 Ground Floor covered parking Lettable Area (as per lease) 224m² Commencement date 1 May 2012 Termination date 30 April 2015 Option period 3 years Escalation rate 10% Basic Rental (as at 1 April 2014) R12, excluding VAT Parking Rental (as at 1 April 2014) R excluding VAT Recoveries Water, Electricity, Sewerage, Refuse removal and security services and rates increase

13 Tenancy Estimated Vacancy (Vacancy is subject to change) Erf Area ± m² Erf Area ± m² 215 Usable Area (excluding common areas) Usable Area (excluding common areas) Occupied (per lease) Occupied (per lease) 224 Estimated Vacant Usable Area Estimated Vacant Usable Area Erf Area ± m² 217 Usable Area (excluding common areas) Occupied (per lease) Estimated Vacant Usable Area

14 Tenancy Projected Income based on lease information supplied Note that no provision was made for vacant space Expiry Date R/m² or Unit Area Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 T otal Tenant All In One Academy 31/12/2016 R R R R R R R R R R R R R R Asande Projects CC 30/04/2016 R R R R R R R R R R R R R R De La Rue South Africa Pty Ltd 30/04/2014 R R R R R R R R R R R R R R Enablis Entre Netwrk 30/09/2014 R R R R R R R R R R R R R R Mindmagic Multimedia 31/01/2017 R R R R R R R R R R R R R R Hemic Trading Enterprise 31/07/2012 R R R R R R R R R R R R R R Lifestyle First Call Centre CC 30/04/2015 R R R R R R R R R R R R R R Sub Total R R R R R R R R R R R R R Parking Rental All In One Academy 31/12/2016 R R R R R R R R R R R R R R Asande Projects CC 30/04/2016 R R R R R R R R R R R R R R De La Rue South Africa Pty Ltd 30/04/2014 R R R R R R R R R R R R R R Enablis Entre Netwrk 30/09/2014 R R R R R R R R R R R R R R Hemic Trading Enterprise 31/07/2012 R R R R R R R R R R R R R R Lifestyle First Call Centre CC 30/04/2015 R R R R R R R R R R R R R R R R R R R R R R R R R R R Gross Income R R R R R R R R R R R R R Notes 1. Shaded amounts are not based on a signed unexpired lease. -

15 Rent Roll As Supplied Please note that Rent Roll is subject to change and does not include new tenancy

16 Rent Roll As Supplied Please note that Rent Roll is subject to change and does not include new tenancy

17 Rent Roll As Supplied Please note that Rent Roll is subject to change and does not include new tenancy

18 Rent Roll As Supplied Please note that Rent Roll is subject to change and does not include new tenancy

19 Images Erf 215

20 Images Erf 216

21 Images Erf 217

22

23

24

25

26

27

28

29