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Please consider the environment before printing this Property |
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Superior Business Address: Office close to the President’s Office
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for sale
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Location
Summary
- Vacant office building located in Arcadia, Pretoria
- Total GLA of 3,684 m²
- Ideally located and well-maintained
- Suitable for a single tenant
Situation
The property is located in Arcadia, which is within close proximity to Pretoria’s CBD area, which in turn forms part of the greater City of Tshwane.
The City of Tshwane devised an Inner-City Rejuvenation Master Plan, which aims to redevelop the CBD. Two corridors of development and investment, being along Paul Kruger and Church Streets, as set out by Re Kgabisa Tshwane, will be the core of the nation’s executive capital where the National Government head office administration is housed.
The property is situated ideally within a strategic area close to the Union Buildings within the Church Street corridor. It is thus feasible to accept that the subject property will be a consideration for National Government in terms of leasing space.
Description
The property is located on a prominent corner within the Pretoria CBD/Arcadia. The property is square in shape with street frontage on Hamilton Street, which provides the property with high volumes of passing trade.
The improvements comprise a three-storey office building with structured half basement parking. Additional open parking is provided on either side of the building.
The ground floor provides a small lobby area, accessed from Belvedere Street. The lobby requires upgrading to maintain the building’s B Grade as office grading. The main entrance is considered typical of an inner-city office building, but not in line with modern A-grade office requirements.
The office space is air-conditioned via individual split-level units, which will require an upgrade should a higher office rating than B Grade be desired.
The floor space is fairly flexible with the majority of the internal walls being demountable. The building is suited for a single tenant.
The building is U-shaped and been constructed around a central core, which accommodates a single lift shaft with a staircase forming part of the core. Common area lift lobbies have been provided on each floor, which also forms part of the core.
A secondary staircase, which doubles as a fire escape has been constructed at the opposite side of the building. Bathrooms and kitchens have been provided in this space.
A total of 28 parking bays have been provided.
Title Deed and Zoning Information
Title Deed Information
Title Deed Number: T20221/2013
Legal Description: Erf 1284 Arcadia
Registered Owner: Delta Property Fund Limited
Local Authority: City of Tshwane
Extent: 2,009 m²
Zoning Information
Zoning: Special
Permitted Uses: The erf shall only be used for offices and with the consent of the City Council (offices for medical and legal professions), subject to the following conditions;
Maximum FSR: 2.1
Maximum coverage: 60%
Maximum height: 19m
Parking: As per Table H
All loading activities shall take place on the Erf
Access to the erf shall be to the satisfaction of the City Council. When redevelopment takes place, no access shall be allowed from Hamilton Street
The applicant shall erect and maintain physical barriers on the street boundaries (approved accesses excluded) to the satisfaction of the City Council
Rentable Areas
| Use | Size (sqm) |
| Office | 3,684 |
| Total | 3,684 |
| Parking | Bays |
| Basement | 28 |
| Total | 28 |
Tenancy
The property is 100% vacant.
Forecasted Monthly Rates & Taxes:
| Projected Rates and Taxes from March 2024 | R66,717 |
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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Vendor's Solicitor Firm
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Disclaimer
Legal Information – Disclaimer South Africa:
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