Well Run Mixed Use Building in Joubert Park For Sale
Magnum is a newly renovated building in the Johannesburg CBD high-rise. It consists of 93 residential apartments and 4 retail shops in the hustle and bustle area Joubert Park with a total GLA of 7640sqm. This building operates at 98% occupancy with arrears of below 1% All residential and retail have prepaid electricity meters. The property has a fully functional biometric access control system and the lifts are less than 12 months old. Located in Joubert Park, Johannesburg CBD, this property has extremely high foot traffic keeping the supply of residential tenants flowing and the trade for the retail below, pumping. It is located right by the Park Central Taxi Terminal, a major transport node as well as Park Central Shopping Centre. Features: 25 bachelor units, 12 two-bed units, 30 three-bed units, 26 four-bed units Purchase Price: R59 000 000 Annual Income: R10 455 559 Annual Expenses: R4 166 014 Net Annual Income: R6 289 545 Yield = 10.66% Deposit: 10% refundable deposit payable within 7 (calendar) days of signature, into conveyancer’s trust account Due Diligence: 30 (calendar) days for due diligence (DD) Finance: To run concurrently with DD
JOUBERT PARK Joubert Park is a suburb of Johannesburg, South Africa. Joubert Park was established in 1887 at the request of the Diggers' Committee, Johannesburg's earliest local government, as a 'public park or garden to be planted with trees' The suburb shares its name with the largest park in the Central Business District, which is located a few blocks from the main train station for the city (known as Park Station). Joubert Park is the location of the Johannesburg Art Gallery.
Features
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Zoning:
Mixed Use
Exterior
Security
Yes
Sizes
Floor Size
7,640m²
Land Size
750m²
Extras
24 Hour Access • Accommodation • Awning • Balcony • Bath, Toilet and Basin • Built in Wardrobes • Communal • Curtain Rails • Dual Living • Electric Gate • Entrance Hall • Fibre • Freestanding • Internet Port • Metropolitan • Multi Storey • On Street Parking • Oven & Hob • Residential • Retail • Secondfloorandabove • Security Complex • Security Gate • Shower • Shared Living • Suburban • TV Antenna • TV Port • Telephone Port • Tiled Floors • Washing Machine Connection
Johannesburg...Joburg...Jozi...The City of Gold. It's a city that goes by a variety of names, and which has won acclaim around the world for various factors. From the urban vibes of Johannesburg's CBD, which has undergone a major rejuvenation, to many other areas such as Sandton, which has evolved from dirt roads to Africa's richest square mile, Gauteng's biggest city has much to offer.
In the 130+ years since...
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Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.