Reference: KP 5
Premises size in total: 8565m2
Current area developed: 1600m2
Rezoning for further development possible.
Return on Investment: 10%
Monthly income Nett: R37 500
Full Description: FLAT:
18 flats of which 12 are newly renovated.
All flats with build in stove and extractor fans.
Building surrounded by 1.8 x 2m fencing and electronic gate.
All flats equipped with safety gates and ground floor with burglar bars.
100% occupied and very popular rental spot.
FLATS: 3 x 3 beds; 5 x 2 beds; 8 x 1 beds, 2 Bachelor's; 22 bathrooms in total.
Very neat in all.
LIQUOR STORE: 252m2 without outer buildings. 1 x Cooler Room & compressor.
Store is equipped with display cabinets. Liquor store as running concern is NOT included in the marketing price, only the premises included and to be rented out, currently for R5500 pm.
Selling with CC name is an option to save on CPT. (or without CC name if preferred.)
Rezoning for further development of more flats / houses approved till October 2012.
Monthly expenses: R13500 pm
RENTAL INCOME: 2015: R610 000.00
Yearly maintenance: R72 000.00
Insured for: R 5 929 000.00
Insurance: R15 250 p.a.
9% yearly rental escalation
Equipment: Bottle store building only. Bussiness not included in price. Currently under long term rental contract.