5,000M BUILDING FOR SALE IN NONE DOORNFONTEIN
NEW DOORNFONTEIN MIXED USED PROPERTY FOR SALE
CALLING PROPERTY DEVELOPERS INVESTORS
The subject property is an incomplete conversion from a commercial and industrial space into mixed use space comprising both commercial/retail and residential spaces.
Situated in New Doornfontein the property was earmarked for up-market apartment living. Given the proximity to UJs Doornfontein Campus this property represents an opportunity for a savvy developer/investor to repurpose the residential portion into a mix of student accommodation and social housing.
On a stand of 2984m2 and GBA in excess of 5500m2 this property is calling out for a buyer with a combination of vision and capacity.
In her present configuration the property comprises
3 large one bedroom apartments
3 large two bedroom apartments
17 other two bedroom apartments
8 one bedroom apartments
2 bachelors units
8 retails sections
1 large commercial space
3 dedicated undercover parking spaces
some open parking
The building is in various phases of completion. Some of the commercial spaces are presently tenanted. There is some rental income at this stage.
The new fourth floor has steel structures in place for envisaged loft style penthouse apartments. As it is still in the initial stages, this space could be value optimized for student accommodation/social housing.
The present bondholder is amenable to a JV and funding for development portion of the project.
Plans for a refurbishment are available to serious prospective purchasers.
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