Popular Tyger Valley business, residential and lifestyle complex has tenants in place.
At the end of August Rawson Auctions Western Cape will bring to auction a commercial office space in a wellestablished, mixed-use Tyger Valley complex that houses fine A-grade offices, residential units and a lifestyle centre.
The office space is in Bella Rosa Village. It is home to many top businesses and is well-positioned for easy access to northern suburbs schools, shops and major highways, says Tanya Jovanovski, franchisee of Rawson Auctions Western Cape. Cape Town’s central business district and Cape Town International Airport are also within easy reach.
The office space is on the ground floor of the east wing, in the Cento Building, and is subdivided into two separate rentable areas. “The rentable area is 240m² and the sale will include an additional 47m² undivided share in the common property, making a total of 287m².”
Both areas are currently being let and bring in a total income, excluding VAT, of R46 450 a month. Unit A’s lease is set to expire in February next year. The lease on the second unit will expire in September, and Jovanovski says Unit B’s current tenant has given notice to leave then.
“However, the tenant from Unit A has expressed interest in renting Unit B, as the block is very popular and there is a high demand for rental space.” The entire office space (Units A and B) comes with 10 memberships attached for the local gym at Bella Rosa’s lifestyle centre.
The gymnasium is equipped with squash courts, an outdoor pool and Jacuzzi, a canteen and a conference facility with cinema. The village complex has 24-hour security, including patrols and a monitored CCTV system, and the secure perimeter is fully fenced, Jovanovski says.
Her view is that the property offers a great investment opportunity. “Not only is the office space affordable, but the rental income per month is high.” “Both the electricity administration fee and the normal electricity consumption costs are recouped from the tenants.
“In addition, the unit does not have a separate water meter, and the water charges are included in the levies.”
The auction will be by silent tender, with written offers to be submitted in sealed envelopes. Tenders will close at noon on August 30. The reserve price for the property is R4.75 million, but all offers will be viewed. The seller is registered for VAT, and no transfer duty will therefore be payable. No registration fee is required to bid with Rawson Auctions.
However, the buyer will be expected to pay a deposit of 5% of the purchase price, and also 10% commission plus VAT over and above the purchase price, to Rawson Auctions on the seller’s acceptance of the bid. Bidders must be registered and must have with them certified copies of their identity documents and proof of residence. All offers should be submitted on Rawson Auctions’ Offer to Purchase form, with its standard terms and conditions. A copy can be obtained by contacting the Rawson Auctions Western Cape office a firstname.lastname@example.org or call 021 837 1700. Bids can be delivered to the Rawson Property Group’s head office at 222 Main Road, Rondebosch. For details or an appointment to view the property, call Tanya Jovanovski on 021 837 1700.
Weekend Argus Auctions