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Prime location: Mixed-use investment in Bloemfontein CBD
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for sale
Private Tender
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Location
Summary
- Prime conversion opportunity or head office
- Landmark Victorian building facing onto Hoffman Square
- Retail component fully occupied
- Building size of 3,055 sqm
Situation
The subject locality is characterised by high density commercial, administrative and retail activity as characterised by central business districts.
The property fronts onto the famed Hoffman Square, which hosts multi-level commercial buildings servicing high levels of vehicle, pedestrian and public transit traffic. Charlotte Maxeke Street is the main commercial artery of the CBD, hosting several street level retailers, the Bloem Plaza, Middestad Mall and Old Bloem Post Office are all located around the square.
The property’s central location lends itself to enjoy easy access within the Bloem CBD, as well as to the rest of the city
Description
The Old Mutual Building is a 5 storey, landmark, high street retail and office asset located on Charlotte Maxeke Street. The property fronts onto Hoffman Square and is surrounded by dense commercial activity. The building is beautifully constructed and preserved in the Victorian Architectural style, hosting 5 floors and mezzanine within the lobby.
Ground floor retail comprises street fronting spaces while upper floors are currently configured to host office spaces. The floor plate features a ‘U-shape’, allowing natural light to penetrate through. A single lift with wrap-around staircase services the building.
The offices are vacant, while three tenants occupy the 455 sqm ground retail GLA.
Zoning and Title Deed Information
Title Deed Information
- Title Deed Number: T14858/2012
- Legal Description: Remainder of Portion 1 of Erf 904 Bloemfontein
- Registered Owner: Delta Property Fund Limited
- Local Authority: Mangaung Metropolitan Municipality
- Extent: 640 sqm
Zoning Information
- Zoning: Business, Subzone “H”
- Primary Uses: Residential Buildings, Places of Assembly, Institutions, Shops, Business Premises, Auctioneers Business, Undertakers Business, Gymnasium, Commercial Workshop, Office, Guest House
- Consent Uses: Special Buildings, Block of Flats, Places of Instruction and Adult Instruction, Dwelling Houses, Public Buildings, Light Industry (Dry Cleaning only), Business Premises (Bakery Only), Betting Room, Service Industry
- Height Restriction: Limited to 28m
- Coverage: No Restrictions
- F.A.R.: 6,0
- Parking: As per Zoning Certificate
- Street Building Lines: 3m
Rentable Areas
| Use | Size (sqm) |
| Office | 2,599.84 |
| Retail | 455.55 |
| Total | 3,055.39 |
Tenancy
| Tenant | Leased Area |
| Levi Strauss South Africa | 152.72 m² |
| Imali Financial Services | 194.44 m² |
| Fashion Warehouse | 108.39 m² |
VAT
The Seller has been registered for VAT (Value Added Tax) and therefore VAT is payable by the Purchaser.
Sales Process
This property is being sold by way of a Private Treaty process under a Sole Marketing Mandate with CBRE-X online.
Interested parties will have access to the Property Brochure and NDA on registration on the CBRE-X online website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
• The price offered.
• Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
• Conditionality of the offer and timeline to conclude the deal.
Disclaimer
The website provides information about properties but does not guarantee its accuracy. Users access the site at their own risk and should seek professional advice before making any decisions based on the information provided. Property descriptions are general and do not constitute an offer or contract. All details are believed to be correct but should be verified by users. The company and its employees do not make any representations or warranties regarding the properties. Prices quoted are exclusive of taxes. The information on the website may contain errors, omissions, or may change without notice. Users should conduct their own investigations before making any investment decisions. The information provided should not be considered financial or investment advice. Any information given by the company or the vendor is for illustration purposes only and does not constitute a representation, condition, or warranty. Users are responsible for conducting their own due diligence to verify the accuracy of the information provided.
Contacts
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CBRE Excellerate
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Disclaimer
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