Commercial space in Ferndale

R 27 000 000

Arshaad Essa

Choprop Sales & Letting-CHOPROP HOLDING S.A PTY (LTD)

Commercial space in Ferndale

R 27 000 000

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Gardens Mall Gauteng

Locality

The Gardens Shopping Mall is situated at 176 Bram Fischer Drive in Ferndale, Randburg. Ferndale is an established commercial (retail and offices) and residential node. The subject property has excellent exposure to Bram Fischer Drive which experiences a high level of passing traffic. The area is centrally located with relatively easy access to areas such as Randburg and Strydompark. Sandton is approximately 6km away. The area is accessible via a number of primary and secondary routes such as Bram Fischer Drive / Jan Smuts Avenue, Bond Street, Republic Road and Malibongwe Drive. The N1 freeway (Malibongwe Drive) is approximately 5km from the property.

Executive Summary & Key Investment Highlights

Existing Use:Retail Centre and 25 Apartments

Tenure Type:Full Title.

Gross Building Area 6,610mRetail Gross

Lettable Area 4,049m

Total Land Area:4,050m

Parking: 58 bays (roof parking 28, rear parking 16, street front 14)

Approx. Gross Rental Income for December 2015: R 310,000 = Retail R 238,000 excl VAT + Apartments R 72,000 (no VAT)2 Storey Retail section of 4,049m.

25 Apartments with potential for another 69 apartments.Potential upside if the centre is re-worked.

Net Income

The property has a Net Income of R235 269.71 with a vacancy rate of R22.5%

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Experience Randburg and Ferndale

The suburbs of Randburg offer a wide variety of neighbourhoods to suit most lifestyles and, have a mixed population of old and young residents. Property types include older homes and new developments. Diggers and Randburg Sports Club offer professional facilities for all major sporting activities, for young and old. For nightlife and entertainment, Randburg is very central. Parkhurst or Greenside’s boulevard cafés, Monte Casino's multitude of restaurants, theatres and gambling facilities are a mere 20 minutes away. For outdoor lovers, the Lion Park and the Cradle of Humankind has a wide variety of attractions, in close proximity.

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Commercial space in Ferndale

R 27 000 000

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