1 510 m² Office Space in Potchefstroom Central

ACROSS FROM THE COURTHOUSE, with R56,154 CURRENT RENTAL income, 13 UNITS

UNLOCK THE POTENTIAL

Some properties are bought for what they are. Others are bought for what they could become.

This is one of those properties.

Situated directly across from the Court and close proximity from the Magistrates Court, this substantial older building offers something that cannot be renovated, replaced or replicated LOCATION.

If I were an investor with the capital and vision, I would seriously investigate the potential of transforming this property into a purpose-designed legal and professional office precinct, potentially catering to attorneys, advocates and other professional firms.

And the exciting part

The income is already there.

THE PROPERTY CURRENTLY OFFERS 13 SEPARATE UNITS

GROUND FLOOR 5 COMMERCIAL UNITS

The ground floor currently consists of 5 units, occupied by a combination of established tenants, including:

An attorney

A retail shop

An estate agency

A retail business

Additional commercial space

The existing ground-floor tenants are supported by long-term rental agreements, providing an established income stream.

CURRENT GROUND-FLOOR RENTAL INCOME:

R26,454 VAT inclusive per month

FIRST FLOOR 8 RESIDENTIAL UNITS

The first floor currently comprises 8 spacious flats.

The units are currently utilized as residential accommodation and, importantly from an investor''s perspective, are rented on a month-to-month basis.

The owner is looking to scale down, and selling this property is the dream.

This creates an interesting opportunity for a purchaser who wants to acquire the property and potentially reposition it over time.

CURRENT FIRST-FLOOR RENTAL INCOME:

R29,700 per month

THE 8 RESIDENTIAL UNITS COMPRISE:

2 Spacious Two-Bedroom Apartments

Each offering:

2 bedrooms

Spacious living area

Bathroom

Kitchen

4 Spacious One-Bedroom Apartments

Each offering:

1 bedroom

Spacious living room

Bathroom

Kitchen

Enclosed balcony

The enclosed balconies are particularly versatile, with tenants currently using them as TV rooms or dining areas.

2 Very Spacious Bachelor Apartments

Each offering:

Spacious open livingsleeping area

Enclosed balcony

Kitchen

Bathroom

CURRENT RENTAL INCOME

Ground-floor commercial units:

R26,454 VAT inclusive per month

First-floor residential units:

R29,700 per month

TOTAL CURRENT RENTAL INCOME:

R56,154 PER MONTH

APPROXIMATE ANNUAL GROSS RENTAL INCOME:

R673,848 PER YEAR

ALL UNITS on Pre Paid electricity

Based on the rental figures supplied by the seller.

BUT THIS IS WHERE THE STORY GETS INTERESTING...

The current configuration is only one version of what this property could become.

An investor with the right vision could investigate the feasibility of repositioning the building into professional officeattorney suites, taking full advantage of its exceptional proximity to the legal precinct.

Another potential strategy worth investigating would be whether the individual units could, subject to all required professional, municipal, legal and sectional-title approvals, be registered as sectional-title units and eventually sold individually to professional firms or investors.

This could create a completely different investment model:

Acquire

Renovate

Reposition

Potentially Sectionalize

Sell or Retain

Of course, the feasibility, costs, zoning, building compliance, sectional-title registration and all relevant approvals would need to be professionally investigated by the purchaser.

WHY THIS PROPERTY

Directly across from the Court

Existing rental income of R56,154 per month

5 established commercial units

8 residential units that can become office suits

Long-term commercial leases already in place

Residential units available on month-to-month agreements

Significant repositioning potential

Exceptional location for the legal and professional market

A property where the location may ultimately be worth far more than the current configuration suggests

THE INVESTMENT STORY

This isn''t a property for an investor looking for a shiny, newly renovated building with no work required.

This is a property for someone who can see beyond the current finishes.

The building is older and the residential component is ready for a new jacket.

But that also means there is an opportunity to add value.

The fundamentals are already in place:

Prime location existing tenants existing income flexible residential leases substantial space redevelopment potential.

The next owner gets to decide what the next chapter looks like.

KEEP THE RENTAL MODEL.

RENOVATE AND REPOSITION.

INVESTIGATE PROFESSIONAL OFFICE SUITES.

OR EXPLORE A SECTIONAL-TITLE STRATEGY.

The potential is endless the location is already established.

VAT REGISTERED SELLER

The seller is VAT registered. Purchasers are advised to obtain independent professional advice regarding the VAT implications of the transaction and any applicable transfer costs.

A PROPERTY FOR THE INVESTOR WHO THINKS DIFFERENTLY.

Opportunities like this don''t come around often especially when the location is already exactly where the market wants to be.

Contact Nexor Properties to arrange a private viewing and explore the possibilities this property presents.

WHAT IF THIS WASN''T AN OLD BUILDING BUT THE NEXT LEGAL PRECINCT