Stormill Warehouse Facility with Offices Roodepoort GLA ± 2,700m2
1318-1320 Spyker Crescent
Wednesday, 27 May 2020 @ 12h00 Houghton Golf Club – Osborn Road, Houghton, Johannesburg Mark Momberg | 071 491 9266 | [email protected]
Version 1: 1 April 2020 NT
Warehouse Facility with Offices – Heriotdale, Johannesburg
Index
Disclaimer, Auction Information and Terms & Conditions Page 3
Property Images Page 4
Executive Summary & Key Investment Highlights Page 7
General Information Page 8
Locality Information Page 9
Property Description Page 11
Projected Gross Annual Income – Summary Page 14
Projected Gross Annual Income – Detailed Page 15
Lease Summaries Page 16
Rates Statement Page 17
Zoning Information Page 21
General Plan Diagram Page 26
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Disclaimer, Auction Information and Terms & Conditions
Disclaimer Whilst all reasonable care has been taken to provide accurate information, neither Aucor Corporate (Pty) Ltd T/A Aucor Property nor the Seller/s guarantee the correctness of the information provided herein and neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any person as a result of errors or omissions in the information provided, whether due to negligence or otherwise of Aucor Corporate (Pty) Ltd T/A Aucor Property or the Seller/s or any other person.
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Auction Information Deposit 5% of bid price Commission 10% plus 15% VAT thereon of the bid price Confirmation period 2 Business Days
Rules of auction and conditions of sale are available at www.aucorproperty.co.za/
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Terms & Conditions R50 000 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: Pieter Geldenhuys.
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images Exterior Images
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images Office Component
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images Industrial Component
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Executive Summary & Key Investment Highlights
Street Address: 1318-1320 Spyker Crescent - Stormill, Roodepoort GPS Co-Ordinates: -26.2047, 27.9458
Erf 52 - 2,118m² Erf 61 - 2.085m² Registered Land Size: Total land size - 4,203m² 'Industrial 3' - See a copy of the zoning confirmation attached to Zoning: this brochure Assessment Rates: R10,996.54 - Excluding consumption charges and city levies
See pages 12-13 for full accommodation details The improvements on the subject property comprise of a big box Accommodation: warehouse with a double storey office/showroom component configured along the street front, supported by temporary structures (sheds, canopies) erected in the yard.
Gross Lettable Area 2,700m² (Seller Supplied) Area Description GBA (± m²) Warehouse 2 053.5 Office Component (Ground floor) 390.6 Mezzanine Offices/Showroom (First floor) 390.6 Gross building Area 2 834.7 Temporar Structure (Shed) 64.6 Approx. Total Gross Building Areas: Storeroom 9.6 Total Approximate Built Areas 2 909 Not es: The Gross Building Areas are approximat es based on a combinat ion of on-sit e and aerial phot ograph measurement s t aken along t he out er walls of built st ruct ures.
The property is currently occupied in terms of an ongoing lease Occupation: agreement. See pages 14-16 for details.
Neat, flex building currently utilized as a manufacturing and warehousing facility, considered ideal for both investors and end- users due to the desirability of the locality. Situated in a strategically advantageous proximity to a major arterial road and the N1 western bypass highway linking the locality Key Investment Highlights: to the neighboring economic hubs and beyond in the Greater Gauteng City region.
Currently tenanted n terms of an ongoing lease agreement, providing strong income generating capacity with a projected gross annual income of ±R1,100,378
By bidding on this property, the purchaser acknowledges that he has acquainted himself with the extent and the nature of the property he is buying, and that he accepts the property as such.
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Warehouse Facility with Offices – Heriotdale, Johannesburg
General Information
Street Address 1318-1320 Spyker Crescent - Stormill, Roodepoort GPS Co-Ordinates -26.2047, 27.9458 ______Title Deed Information
Title Deed Number T44571/2016 Registered Owner Cumulative Properties (Pty) Ltd VAT Registration Status Registered VAT vendor Title Deed Description Erven 52 and 6, Stormill Extension 2 Registered Land Size Erf 52 - 2,118m² Erf 61 - 2.085m² Total land size - 4,203m² Title Deed Conditions A copy of the title deed is on hand and will be made available to prospective purchasers upon request. ______Municipality Information
Municipality City of Johannesburg Metropolitan Municipality Rates Based on the municipal tax invoice as received for the February 2020 billing period. See a copy of this document attached to this brochure for these and other charges. Municipal 2019 / 2020 2019 / 20 Annual 2019 / 2020 Monthly Erf no. Rates Category Valuation Tarif Rates Rates (Annual ÷12) 52 R 6 520 000 0.0201470 R 131 358.44 R 10 946.54 Business 61 R - 0.0201470 R - R - Property assessment rates payable per month R 10 946.54
______Zoning Information
Zoning 'Industrial 3' (See a copy of the zoning certificate attached to this brochure) Permitted Uses (per scheme) * "Industrial purposes, commercial purposes, business purposes, builders yard, building material storage." Height Restriction Height Zone 12(12) - 3 Storeys Coverage 70% / 2,942.1m² (Combined) F.A.R 2,1 / 8,826.3m² Building lines 3m along the street boundary; 1.5m along all other boundaries Parking As per scheme* * Johannesburg Land Use Scheme, 2018 - a copy of the scheme is on hand and will be made available upon request.
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Locality Information Macro Locality The subject property is situated in an established industrial suburb known as Stormill. Stormill is one of a number of Industrial suburbs between Johannesburg and Roodepoort dotted along the major Main Reef Road. Main Reef Road is an important arterial road connecting several economic hubs in Ekurhuleni and the City of Johannesburg, including Germiston, the cluster of industrial suburbs south of the Johannesburg CBD and Industria (to the east of the subject property), while Robertville and Manufacta can be found to the west of the subject property. This allows for the enhanced opportunity for companies located in the area to exploit strategically synergistic and corporate relationships with companies in these hubs. All major and general amenities are available within easy access in and around the node. All major municipal services are available in the area. GPS coordinates for the site are as follows: -26.2123, 28.1196
N
Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Locality Information Micro Locality
Putcoton
Industria
ImageData: Google, AfriGIS Ltd, (Pty) DigitalGlobe
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description Approximate Boundaries
N
GIS
Johannesburg
ImageData: Cityof
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description
Accommodation The improvements on the subject property comprise of a big box warehouse with a double storey office/showroom component configured along the street front, supported by temporary structures (sheds, canopies) erected in the yard. The ground floor of the office component hosts a reception area, multiple private and shared offices, a boardroom, a kitchen/clean up area and multiple ablutions. The first floor is accessible via a stairwell in the manufacturing component. The first- floor features mostly open spans and is currently utilized as a showroom. The manufacturing component comprises a double volume flex facility offering open spans with generous eaves heights. The space has been configured into four sections by way of brick wall partitioning, which can be removed without affecting he structural integrity of the building. Production offices and stores have been configured onto the floor plate, mostly by way of drywall partitioning. The facility is accessible from the yard by way of 6 large roller shutter doors. ______
Additional Features Additional improvements on the subject property include: • Extensive sprinkler system installed throughout the facility (supported by a pressure booster) • Generous eaves height (± 7.2m) • Large flex facility allowing for multiple light industrial uses • Power floated concrete floors under heat-insulation ceiling panels • 6 large roller shutter doors providing access to the facility from the yard • Two access points to the yard via automated gate entrances ______Construction The building is constructed of a steel superstructure with brick wall panels finished with IBR cladding along the upper half of the brick wall structures, extending downwards from the roof, which has also been constructed of IBR roof sheets. ______
Fixtures and Finishes The warehouse component features power floated concrete flooring under a roof finished with heat insulation panels with various ventilation implements installed. The roof further features translucent panels for added natural light into the building.
The office component features standard finishes along the ground floor with flooring being a combination of ceramic tiles and carpeted floors under a combination of suspended ceiling boards and a rendered and painted concrete ceiling. The first-floor features similar finishes with the exception of the ceiling i.e. heat insulation panels. ______Utilities All municipal services and utilities are supplied by City of Johannesburg Metropolitan Municipality.
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description
Gross Building Area Area Description GBA (± m²) Warehouse 2 053.5 Office Component (Ground floor) 390.6 Mezzanine Offices/Showroom (First floor) 390.6 Gross building Area 2 834.7 Temporar Structure (Shed) 64.6 Storeroom 9.6 Total Approximate Built Areas 2 909 Not es: The Gross Building Areas are approximat es based on a combinat ion of on-sit e and aerial phot ograph measurement s t aken along t he out er walls of built st ruct ures. ______
Gross Lettable Area 2,700m² (Seller supplied) ______Perimeter and Yard The property is enclosed by way of steel palisade fencing throughout. The yard is generally interlock brick paved. ______
Parking Street front parking is available along the Spyker Crescent extent. ______Occupation The property is occupied in terms of an ongoing lease agreement. See page 15 for details. ______Condition The property offers fair curb appeal with the improvements requiring only ongoing repairs and maintenance required. No structural survey of the buildings has been undertaken nor have tests or inspections of service installations been arranged. There has been no environmental survey/audit to establish the existence or extent of any environmental contamination.
By bidding on this property, the purchaser acknowledges that he has acquainted himself with the extent and the nature of the property he is buying and that he accepts the property as such.
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Projected Gross Annual Income – Summary Contractual Cashflow Projections - June 2020 to May 2021 Basic Rent / Premises Item / Tenant Expiry Date Esc Area Let Total m²
Erven 52 & 61 Decoman Warehouse 31/12/2022 R 32.40 8% 2 700 1 105 747.20
Recoveries Property Assessment Rates 6 845.88 Refuse Removal 5 281.08 12 126.96
1 117 874.16
Notes/Assumptions 1. The Basic rent , Escalat ion rat e and t he approximat e area is as ext ract ed from t he execut ed lease agreement .
2. In t erms of t he lease agreement , t he t enant is liable for t he assessment rat es as levied by Council. For t his reason, t he income recovered on a mont hly basis has been added t o t he base rent al income.
3. All amount s represent ed above are exclusive of VAT. 4. The t enant is liable for increases in t he propert y assessment rat es expense, and t he full refuse removal levy (plus a 2% surcharge) billed t o t he Seller's account by Council. 5. Only cont ract ual cash flows have been considered in t he above analysis. Special Not e - The rent al informat ion in t his brochure is not int ended t o const it ut e specific advice nor t o subst it ut e for a due diligence exercise, and accordingly should not be relied upon t o make a purchase decision. Prospect ive purchasers should make t heir own enquiries and invest igat ion t o confirm pert inent informat ion and forecast s, and should furt her seek appropriat e independent professional advice in relat ion t heret o from suit ably qualified professionals t o complet e t heir own due diligence in relat ion t o t he Propert y. E & OE
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Projected Gross Annual Income –
Summary
E & OE & E
5 281.08 5
6 845.88 6
12 126.96 12
Total
1 105 747.20 105 1
1 117 874.16 117 1
440.09
570.49
94 478.40 94
May-21
2020/04/01
Dat e:
440.09
570.49
Apr-21
94 478.40 94
440.09
570.49
Mar-21
94 478.40 94
Projected Gross Contractual Annual Income Contractual Gross Projected
440.09
570.49
Feb-21
94 478.40 94
440.09
570.49
Jan-21
94 478.40 94
440.09
570.49
Dec-20
94 478.40 94
440.09
570.49
Nov-20
94 478.40 94
440.09
570.49
Oct-20
94 478.40 94
440.09
570.49
Sep-20
87 480.00 87
440.09
570.49
Aug-20
87 480.00 87
440.09
570.49
Jul-20
87 480.00 87
440.09
570.49
Jun-20
87 480.00 87
Recoveries
2 700 2
Area Let Area
Refuse Removal Refuse
Property Assessment Property Rates
8%
Esc
32.40
m²
R R
Basic Rent / / Rent Basic
31/12/2022
Expiry Date Expiry
Item / Tenant / Item
Decoman Warehouse Decoman
Premises
Erven61 & 52
own due diligence in relatdue own iont t o Propert he y.
should maket should investand heir enquiries own igat iont confirm o pert inentinformat forecast ionand furt appropriatshould and s, seek her independent e professionalin advice relat iont heretfrom o suit qualified ably professionalst complet o t e heir
Special Not e - The rent SpecialNot The - al informat e ionin t isnot hisintbrochure t ended const o it uttspecific nor advice e subst o Prospectdecision. it purchasers ivetnot reliedshould purchase upon makea be diligence accordingly and o utexercise, due fora e
5. Only cont 5.Only in t ract analysis. considered flows been above cash have ual he
4. The t 4.The enantisliable inbilled t for increases t assessmentpropertsurcharge) he t2% Council. a rat o y tand Seller'saccount(plus by expense, he fullremoval es he levy refuse
3.All VAT. ofamount exclusive are represent s above ed
2.Int tof erms agreement lease he ,t t he enantisliable fort assessmentt he Council. tFor mont rata added on tleviedt been by his as has basisreason, rent o es hly base incomerecovered he he alincome.
1. The Basic rentBasic 1.The ,Escalat ionrat tand e approximat he ext isas area e ractfrom ed t agreement lease execut he ed .
Not es/Assumpt ions Contractual Cashflow Projections - June 2020 to May 2021 May to June2020 - Projections Cashflow Contractual
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Lease Summaries These lease summaries should not be relied upon in isolation and should be read in conjunction with the executed lease documents, copies of which are on hand and will be made available to bona fide prospective purchasers upon request. ______Lease 1 Tenant Decoman Warehouse (Pty) Ltd
Rentable Areas (Seller supplied) 2,700m² Start Date 1 January 2019 Expiry Date 31 December 2022 Renewal Period Not specified Escalation Rate 8% per annum
Monthly Rental (excl VAT)* From To Basic Rental Basic Rental Gross Rate / m² 01/01/2020 31/12/2020 R 87 480.00 R 32.40 01/01/2021 31/12/2021 2 700 R 94 478.40 R 34.99 01/01/2022 31/12/2022 R 102 036.67 R 37.79
Additional Charges Rates – R570.49 (Increases in the property assessment rates) Refuse removal – R440.09 (fully levy plus a 2% surcharge per council) “…the tenant shall be liable for and shall pay any charges arising out of the use of electricity, water and gas by the tenant in or on the leased premises...”
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Rates Statement
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Rates Statement
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Rates Statement
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Rates Statement
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Warehouse Facility with Offices – Heriotdale, Johannesburg
General Plan Diagram
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Warehouse Facility with Offices – Heriotdale, Johannesburg
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