Fully describe this property and its income earning activities.
The business is a 744 square meter building with prime location in the center of a continuously developing city town.
What is the zoning of the property and what can be developed thereon?
The property is zoned for business. There is no develop needed.
Are there building plans available?
Yes, there is building plans on file.
What is the erf size and the size of the buildings?
The building is 744 square meters.
Is a property valuation available?
No, there is no recent valuation independent for the building and property. Available is the municipal valuation on the rates bill but this is not expressive of a true market related value. The current monthly rates payable are R 3 965. The electricity has 1 phase basic business and domestic charges, Water is around R 3 700 which is distributed among-st the tenants.
How does the business operate on a daily basis
The business generates income from tenants who occupy the building. The building comprises 4 levels. A basement, a ground floor comprising of retail space, the second level above the retail shop has 8 business offices, the level above the offices has 4 residential flats, one of which is a bachelor flat. There is parking at the back of the building. The building is centrally situated in the main part of town in one of the most developing cities in Mpumalanga. The building has ample street parking in front of it and the ground level as good retail shop front exposure and the building has easy user friendly access. The building is face brick so has low maintenance. The building is 98% occupied. The position is prime and the location very central for business and commuting. The building is surrounded by operationally active blue ship companies .The owners are selling due to the restructuring of their investment business portfolio.
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Annual Turnover Amount between R 500 thousand and R 6 million