South African Products and Services: Property Investor Required for Office Development in Century City with a Guaranteed 9.5% Nett ROI by Developer

Looking for Commercial Property Investor/s or individual investors or a buyer who is or are prepared to purchase on a 9.5% NETT RETURN ON
INVESTMENT, WITH A 12 MONTH RENTAL GUARANTEE PROVIDED by developer for an A Grade Office Building Development in CENTURY CITY, Cape Town.

SELLING PRICE: R18,250 PER BULK S.M. X 3344 BULK S.M. = R61,028,000.00.

PLEASE NOTE THAT AT THIS POINT IN TIME CONSTRUCTION WOULD BE COMPLETED AND READY FOR OCCUPATION BY JANUARY 2012 AND THE RENTAL GUARANTEE WOULD, THEREFORE, BE EFFECTIVE UNTIL JANUARY 2013.

BULK AREA (WHICH EXCLUDES BASEMENT PARKING AREA; BALCONIES; GROUND
FLOOR TERRACE/PIAZZA AREA AND BASEMENT STORES): 3,344 S.M.
GROSS LETTABLE AREAS (MEASURED IN ACCORDANCE WITH SAPOA):
· OFFICE AREAS = 3,069 S.M.
· BALCONIES = 81 S.M.
· BASEMENT STORES = 246 S.M.
· GROUND FLOOR TERRACE = 895 S.M.
(iv) PARKING BAYS:
· BASEMENT = 98 BAYS
· GROUND FLOOR OPEN PARKING = 5 BAYS
· GENERAL DEVELOPMENT OFF-STREET VISITORS PARKING (NOT PART OF THE
ERF, BUT GENERAL PARKING PROVIDED BY THE DEVELOPER) = 23 BAYS.
2. BASIC INCLUSIONS:
THIS WOULD BE AN A-GRADE OFFICE BUILDING “TURN-KEY” PROJECT INCLUDING
ARCHITECT, ENGINEER AND ALL OTHER CONSULTANTS’ FEES; PLAN SCRUTINY FEES;
ALL SERVICES CONNECTION FEES AND A FULL TENANT INSTALLATION INCLUDING AIR CONDITIONING;
SUSPENDED CEILINGS; ELECTRICAL (INCLUDING ADEQUATE LIGHTING
AND POWER POINT ALLOWABLE); FULL SECURITY AND CCTV INSTALLATION;
CARPETING AND DEMOUNTABLE PARTITIONING.
3. MARKETING STRATEGIES (SELLING RATES ARE PER BULK S.M. - I.E.
THERE IS NO CHARGE FOR BASEMENT PARKING AREA; BALCONIES;
GROUND FLOOR TERRACE/PIAZZA AREA AND BASEMENT STORES) :
(i) A LARGE END-USER PURCHASING THE ENTIRE 3,344 BULK SQUARE METRES (THE
BANK PROVIDING DEVELOPMENT FINANCE WOULD REQUIRE SALES FOR THE
ENTIRE AREA AND, THEREFORE, A DEED OF SALE FOR A PORTION OF THE AREA
WOULD HAVE TO BE COMBINED WITH A DEED OF SALE FOR THE REMAINING

AREA): SELLING PRICE R16,750 PER BULK S.M. X 3344 BULK S.M. = R56,012,000.00.
(ii) AN INVESTOR WHO IS PREPARED TO PURCHASE ON A 9.5% NETT RETURN ON
INVESTMENT,WITH A 12 MONTH RENTAL GUARANTEE PROVIDED BY OURSELVES :
SELLING PRICE R18,250 PER BULK S.M. X 3344 BULK S.M. = R61,028,000.00.
PLEASE NOTE THAT AT THIS POINT IN TIME CONSTRUCTION WOULD BE
COMPLETED AND READY FOR OCCUPATION BY JANUARY 2012 AND THE RENTAL
GUARANTEE WOULD, THEREFORE, BE EFFECTIVE UNTIL JANUARY 2013
(iii) A TENANT OR TENANTS FOR THE ENTIRE GROSS LETTABLE AREA: THE
FOLLOWING RENTALS (ALL IN ACCORDANCE WITH SAPOA) , PLUS VAT AND WITH
A SUGGESTED 5 YEAR LEASE WITH A 8.5% PER ANNUM ESCALATION, WOULD BE
REQUIRED TO BE ACHIEVED IN ORDER TO OFFER INVESTORS A 9.5% NETT
RETURN ON INVESTMENT (I.E. AFTER ALLOWING FOR OPERATING COSTS):
a) OFFICE GROSS LETTABLE AREAS: R130.00 PER S.M.
b) BASEMENT PARKING: R750 PER BAY
c) GROUND FLOOR OPEN PARKING: R475 PER BAY
d) GROUND FLOOR TERRACE/PIAZZA AREA: R35 PER S.M.
e) BALCONIES: R50 PER S.M.
f) BASEMENT STORES: R60 PER S.M.

Contact: Mark Waite
Mobile: 0741165213
Email: mjw0710@vodamail.co.za
Alt Email: mjw0710@gmail.com
Skype: good2breal

http://ctcommercial.realtors.officelive.com