3,110m2 Auckland Park redevelopment

Property Description:

• Zoning: Bus1 and Res1
• FAR: 2.1(bus); 1.2(res)
• Height: 3-4 storeys
• Coverage: 70%
• Parking: as per scheme

The property is situated of 2 separate Erven.

Erf 235 - The 1st property located CNR Menton and Stanley, measures 2,110sqm with a total GLA of 1,180sqm.

•Comprises of retail tenants and mini-storage units
• Retail tenants include –Bottle store; Supermarket; Hair salon; Cell phone shop; Money lender
• There are 45 mini-storage facilities
• Net income – (+/-) R40,000/month

Erf 1, rem 1 – This site measures 999sqm with a total GLA of 450sqm.

• There is currently a retail furniture shop trading – this is an established business that has been operating for the past 15 year selling antique furniture and doing furniture upholstery.

POTENTIAL - It is very rare to find a property that can unlock so much potential!

The property is easily accessed via Empire Road and with the launch of the new BRT bus system, which heads directly on the main road toward the property; the location of this site is fantastic.

• Residential Conversion – the property lends itself to a residential conversion and with the University of JHB around the corner, demand for rental flats is extremely high.
• Block of flats with retail –One may be able to keep the current retail shops intact and build up an additional few storey’s with a small block of flats. Blocks of flats with retail are extremely sort-after properties that provide a solid income stream.
• Office conversion – With business continually growing and office space hard to come by in the JHB CBD, this property is ideal for an office conversion that will attract a corporate company seeking to have a presence in a booming, easily accessible area.

Rental Rates/sqm in the area:

1. Retail – R100-R280/sqm (http://www.commercial-property.co.za/search_city_183_11_Auckland-Park.html)
2. Flats – R2,500-R3,500/month (1 bedroom; 1 bathroom) (Private property)
3. Office – R50-R65/sqm (Sokolic and JHI)

Monthyl property expenses:

• Assessment rates - R8,700
• Electricity & Water - (+/-) R5,500

• Total per month - R14,200

Macro-area Analysis:
The property is located in Richmond, Auckland Park. Auckland Park is located north-west of the JHB CBD and boasts a wealth of beautiful architecture.
The suburb is also well known as the home of SABC with many employees living in the area. The university of Johannesburg is located within 1km of the property.
The area is made up of a mixture of both residential and commercial/retail properties.

Nearby Amenities:

• Richmond Mall (300m)
• Curation Building  (400m)
• Milpark shopping centre (1km)
• S.A.P.S (1.1km)
• Melville School (1.1km)
• St Catherine’s School
• The Ridge school
• Medicross Health (1.8km)