New Doornfontein Well Located – Industrial 1 Zoned
Johannesburg Redevelopment Opportunity
Rea Vaya Bus
Parking Lot
Corner Bertrams Road, Miller Street, Voorhout Street & First Street
Thursday, 17 August @ 12h00 Venue: Houghton Golf Club – Osborn Road, Houghton, Johannesburg
Sean Parsons | 082 464 7292 | [email protected]
Version 2 (18 July 2017)
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 Redevelopment Opportunity New Doornfontein - Johannesburg
Index
Disclaimer Page 3
Property Images Page 4
Executive Summary & Key Investment Highlights Page 7
General Information Page 8
Locality Information Page 10
Property Description Page 11
Lease Summary Page 14
Layout Diagrams Page 15
Plans – Cnr Miller & Bertrams (Erven 542, 543) Page 19
Surveyor Diagram Page 22
Zoning Information Page 23
Title Deed Page 31
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Redevelopment Opportunity New Doornfontein - Johannesburg
Disclaimer & Auction Information
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 other wise of Aucor Corporate (Pty) Ltd T/A Aucor Property or the Seller/s or any other person.
Auction Information
Deposit 5% of bid price Commission 10% plus 14% VAT thereon of the bid price Confirmation period 2 Days Rules of auction and conditions of sale are available at www.aucorproperty.co.za/
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Redevelopment Opportunity New Doornfontein - Johannesburg
Property Images
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Redevelopment Opportunity New Doornfontein - Johannesburg
Property Images
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Redevelopment Opportunity New Doornfontein - Johannesburg
Executive Summary & Key Investment Highlights
Street Address: Corner Bertrams Road, Miller Street, Voorhout Street & First Street
Total Land Size: 4,013m² Zoning: Industrial 1 Assessment Rates: R 15,644.34 / month (excluding consumption charges and city levies) - to be verified
This property comprises seven stands with essentially three buildings developed thereon. Two of the buildings are interlinking. The Total Building area is approximately 6,957m². The various spaces in the buildings vary in configuration and use, but in essence most of the buildings comprise warehousing, halls and stores with ancillary use areas such as offices over a Accommodation (See Layout Skethes): total of 4 levels. In addition, there are multiple toilet facilities spread in the buildings. In addition, the building on the corner of Miller & Bertrams (Erven 542, 543) hosts two goods lifts, one of which operates from the ground floor to the first floor only, whilst the other operates from the first floor to the second floor. The building on Erf 571 (corner Voorhout and Bertrams Street) hosts two goods lifts as well, one of which has been decommissioned. Approx. Total Building Area: ± 6,957m²
± 1,140m² is occupied by Rhema Bible Church. The lease, which features no renewal option, expires on 31 March 2018. Occupation: ± 3,500m² of the property is owner-occupied. Lease terminates on 31 March 2018 and will not be renewed. Remainder of the property is vacant (± 2,317m²)
Situated on Bertrams Road near Ellis Park Stadium. Easy access to Johannesburg CBD Key Investment Highlights: GBA ± 6,957m² Industrial 1 Zoning
By placing an offer 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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Redevelopment Opportunity New Doornfontein - Johannesburg
General Information
Street Address Corner Bertrams Road, Miller Street, Voorhout Street & First Street – New Doornfontein / Bertrams, Johannesburg GPS Co-Ordinates Erf 542 - S 26°11'45.46"; E 28°03'57.83" Erf 543 - S 26°11'45.80"; E 28°03'58.19" Erf 581 - S 26°11'46.39"; E 28°03'58.57" Erf 582 - S 26°11'46.88"; E 28°03'58.89" Erf 583 - S 26°11'47.61"; E 28°03'58.11" Erf 620 - S 26°11'48.11"; E28°03'58.45" Erf 621 - S 26°11'47.43"; E 28°03'59.26"
Title Deed Number T49624/2003 Registered Owner Advent Apparel Manufacturers CC Title Deed Description Erf 542 and 543, New Doornfontein, City of Johannesburg Registered Land Size Erf 542 - 573m²; Erf 543 – 573m² Notarially Tied Yes
Title Deed Number T65278/2007 Registered Owner Adprops SA (Pty) Ltd Title Deed Description Erf 581, Erf 582, Erf 583, Erf 620 and Err 621, New Doornfontein, City of Johannesburg Registered Land Size Erf 581 - 573m²; Erf 582 – 573m²; Erf 583 – 573m²; Erf 620 – 574m²; Erf 621 – 574m² Notarially Tied Yes
Total Land Area 4,013m² Title Deed Conditions See copies of the Title Deed attached to this brochure.
Municipal Information
Municipality City of Johannesburg
Zoning (per Johannesburg scheme) Industrial 1 Permitted Uses (per scheme) “Industrial purposes, public garages, public or private parking areas, shops, business purposes, canteen, commercial purposes, dwelling units, residential buildings” Height Restriction Not prescribed, but subject to clause 45(2) “Any building erected in Height Zones 1, 2, 3 and 4, shall not project above a line drawn at an angle of 59º to the horizontal from a point at street level on the street boundary Floor Area Ratio Variable – See Annexure 17 in Zoning Information attached to this brochure – Zone 4 Coverage Variable - See Table K in Zoning Information attached to this brochure – Zone 4 Building Lines 1.5m along the street boundaries. Parking Requirements As per scheme.
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Redevelopment Opportunity New Doornfontein - Johannesburg
General Information
Estimated Property Assessment Rates – excluding consumption and city levies – based on the municipal valuation and rating tariffs published by the municipality. To be verified. 2013 Municipal 2016 / 2017 2016 / 17 Annual 2016 / 17 Monthly Rates Erf Rates Category Exclusion Rebate Valuation Tariff Rates (Annual ÷ 12) 542 R - R - R - 543 R 3 440 000.00 R 61 858.08 R 5 154.84 581 R 3 340 000.00 R 60 059.88 R 5 004.99 Business / 582 R - N/A N/A 0.017982 R - R - Commercial 583 R - R - R - 620 R - R - R - 621 R 3 660 000.00 R 65 814.12 R 5 484.51 R 10 440 000.00 R 187 732.08 R 15 644.34
Note: A new municipal valuation and rates tariff is to come into effect from 1 July 2017.
The improvements spanning stand 542 and 543 have been treated as one property for municipal property rates billing purposes and for this reason property rates have been charged to stand 543 and alone i.e. no municipal value ascribed to stand 542.
The same treatment s that described above has been applied to erven 582, 583, 620 and 621. The erven have been considered as one property for the purposes of property rates assessment and a municipal value reflecting the value of the property if all erven were in fact one property has been applied and reflected on the account pertaining to stand 621 alone.
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Redevelopment Opportunity New Doornfontein - Johannesburg
Locality Information
The subject site is situated on the corner of Bertrams Road, Miller Street, Voorhout Street and First Street in a well-established commercial and residential suburb just east of Johannesburg’s CBD. Bertrams Road is a major arterial linking Jeppestown to Hillbrow. New Doornfontein is located roughly 2½ km north-east of the Johannesburg CBD, and is near to the Standard Bank Arena and the Ellis Park stadium complexes. Several primary and secondary roads service the area with Bertrams Road, and nearby Albertina Sisulu Road being the major arterials linking New Doornfontein to the Johannesburg CBD. Given the close proximity to the Johannesburg CBD, all major amenities and services are relatively nearby. In addition, there are several transportation options such as busses (Rea Vaya bus-stop ±150m from the site) and taxi routes which service the area. There is a train station in nearby New Doornfontein.
Image Data: Google, AfriGIS (Pty) Ltd Image Data: Google, AfriGIS (Pty) Ltd 9
Redevelopment Opportunity New Doornfontein - Johannesburg
Property Approximate Description Boundaries
Image Data: City of Joburg GIS
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Redevelopment Opportunity New Doornfontein - Johannesburg
Property Description
Accommodation See floor layouts attached to this brochure.
This property comprises seven stands with essentially three buildings developed thereon. Two of the buildings are interlinking. The Total Building area is approximately 6,957m².
The various spaces in the buildings vary in configuration and use, but in essence most of the buildings comprise warehousing, halls and stores with ancillary use areas such as offices over a total of 4 levels. In addition, there are multiple toilet facilities spread in the buildings.
In addition, the building on the corner of Miller & Bertrams (Erven 542, 543) hosts two goods lifts, one of which operates from the ground floor to the first floor only, whilst the other operates from the first floor to the second floor. The building on Erf 571 (corner Voorhout and Bertrams Street) hosts two goods lifts as well, one of which has been decommissioned.
Construction A number of construction types are used including painted plaster walling, face brick walling and metal sheet walling under a combination of metal roofing or water-proofed concrete roofing.
Height Buildings vary from single storey to 3 storeys in height. The AFGA signed extension is for signage purposes only (not accommodation).
Fixtures and Finishes These vary from place to place but generally warehousing / store space has either smooth concrete flooring or vinyl tile flooring, while ceilings are either painted concrete, suspended board or exposed.
Electricity Supply There is a transformer building situated on Erf 583. There are multiple distribution boards installed in the buildings. Exact power capacity available is to be confirmed.
Parking Covered Parking Bays – 4; Open Parking Bays – 14; Street-Front Parking Bays - 5
Condition The buildings require general repairs and maintenance with the building on the corner of Miller & Bertrams (Erven 542, 543) considered to be in the best condition. We have not undertaken a structural survey nor have we arranged for tests / inspections of the service installations.
By placing an offer 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.
Tenancy A church occupies the top (second) floor of the building on the corner of Bertrams and Voorhout Street, measuring ± 1,140m² (see page 13 for lease details)
A portion of the property spanning erven 542, 543 and 581 and measuring ±3,500m² is currently owner- occupied (see page 13 for lease details)
The remainder of the available gross building areas, measuring 2,317m² is currently vacant.
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Redevelopment Opportunity New Doornfontein - Johannesburg
Property Description
Approximate Building Areas
Approx. GBA Level Description (±m²) Ground Floor (reception offices and warehousing) * 974 Ground Floor (warehousing and offices) 1707 Ground Canopied areas 120 2834 Building covered area 28 Out WC 5 Warehousing and exec offices (Plan indicates floor 792m²) 903 First 2283 Warehousing 1380 Warehousing and office (Plan indicates floor 238m²) 290 Second 1430 Church (former club) plus office rooms 1140 Third Top Room and ablutions 410 Total 6957
Parking Canopy (6 Bays) 101 Transformer building 69
Notes 1. Gross Building Areas (GBA) are approximate and are based on a combination of on- site, aerial photograph and supplied measurements. Measurements taken by Aucor Property were taken along the outside walls. 2. (*) As per plans supplied.
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Redevelopment Opportunity New Doornfontein - Johannesburg
Lease Summary
Tenant Mass Supply Clothing CC Commencement Date 1 April 2016 Expiry Date 31 March 2018 Renewal Option Not Applicable Escalation Rate 8% Monthly Rental (current) R 35,989.92 / month From To Basic Rental
01/04/2016 31/03/2017 R 33,324.00
01/04/2017 31/03/2018 R 35,989.92
Tenant Mass Supply Clothing CC Commencement Date 1 April 2016 Expiry Date 31 March 2018 Renewal Option Not Applicable Escalation Rate 8% Monthly Rental (current) R 68,980 / month
From To Basic Rental
01/04/2016 31/03/2017 R 63,871.00 01/04/2017 31/03/2018 R 68,980.68
Mass Supply Clothing CC (“the Tenant”) is a related party of the owners of the subject property. Mass Supply will not be renewing their lease over the occupied areas of the property at the date of termination of the lease.
Tenant Rhema Bible Church Commencement Date 31 December 2015 Expiry Date 31 March 2018 Renewal Option Not Applicable Escalation Rate 8% Monthly Rental (current) R 40,371 / month
Note: Copies of the above lease agreements are on hand and will be made available to bona fide potential purchasers.
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Redevelopment Opportunity New Doornfontein - Johannesburg
Layout Diagrams
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Redevelopment Opportunity New Doornfontein - Johannesburg
Layout Diagrams
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Redevelopment Opportunity New Doornfontein - Johannesburg
Layout Diagrams
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Redevelopment Opportunity New Doornfontein - Johannesburg
Layout Diagrams
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Redevelopment Opportunity New Doornfontein - Johannesburg
Plans Cnr Miller & Bertrams (Erven 542, 543)
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Redevelopment Opportunity New Doornfontein - Johannesburg
Plans Cnr Miller & Bertrams (Erven 542, 543)
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Redevelopment Opportunity New Doornfontein - Johannesburg
Plans Cnr Miller & Bertrams (Erven 542, 543)
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Redevelopment Opportunity New Doornfontein - Johannesburg
Surveyor Extract from General Plan Diagram SG No. A191/02
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Zoning Information
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 542 and Erf 543 Title Deed
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 542 and Erf 543
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 542 and Erf 543
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 581, 582, 583, 620, 621 Title T65278 /2007 – Erf 581, 582, 583, 620, Deed 621
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 581, 582, 583, 620, 621
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 581, 582, 583, 620, 621
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Redevelopment Opportunity New Doornfontein - Johannesburg
Title T49624/2003 Deeds Erf 581, 582, 583, 620, 621
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