Private seller. I have 10 offices plus two large store-rooms for sale - currently in a VAT-registered cc and in the process of being transferred into a VAT-registered Pty Ltd (one director, 100% of the shares may be purchased, newly set up with no other assets). Prices for individual units will be at R12 500/m2; and R10 000/m2 if bought as one lot. Gross yield is 15,72%; nett 10,55% (levies were increased to R31/m2 from R20/m2 to cover refurbishment of three lifts). Once the levies revert to R20/m2 (the norm in the area), then the nett yield will be 11,95%. All offices renovated, newly painted, and carpets cleaned. All offices are fully air-conditioned (occupants control the settings); and high-speed fibre is available. Rentals include water, rates and levies, but excludes electricity which is on pre-paid meters. Controlled access with security guards. Parking is available at Wamakers Square / Phillips Square adjacent to the building. Three of the 10 offices have just been let at R125/m2. I am prepared to sign a headlease for 12 months at R150 000/m (R1 800 000/year). Sizes currently available range from 26 to 581 m2. Basement: two storage areas of 12m2 each. Second floor: 26; 49; 113 m2 Third floor: 34; 40; 54; 55; 126 m3 Fourth floor: BONUS!!!! 581m2 currently making up two huge offices is subdivisable. I am in the process of re-submitting previously approved and now lapsed plans to enclose and double-storey about 250m2 plus possible triple-storey of about 100m2 - this could add 300 to 350m2 (not included in the yields and prices!). The Towers is on the corner of 333 Main, Lady Grey, Nantes and Fabriek Roads. It is the tallest building in Paarl, is in the central business district and and is within walking distance of restaurants, shops, Pick ’n Pay, Woolworths, Virgin Active,etc. Please note that I am not selling the entire building!
Paarl , Cape Winelands