Blue-Chip Tenanted Investment Building

Blue-Chip Tenanted Investment Building

AUCT-001254 | On Auction

9 Old Main Road, Kloof, KwaZulu Natal


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Blue-Chip Tenanted Investment Building. 9 Old Main Road, Kloof

Extent: ± 3690 m² | GBA: ± 1290 m² | Current Gross Annual Income: ± R 3.1 Million | Prime A-grade offices | Blue-chip tenants - Liberty Group & Rokwil | 70 parking bays

LOCALITY

Situated at the top of Fields Hill in Kloof, this landmark building is the home to the Liberty Group and Rokwil’s Head Office. Flanked by the M19 and Old Main Road, the building has incredible exposure to passing traffic. The building was completed in 2014 and is fully occupied by blue chip tenants. There is a proposed Telkom Tower to be installed on the premises.

The premises boasts very good leases. The Liberty Group have occupied the premises since 2011, they recently resigned 5-year lease with an automatic renewal of a further 5 years. This effectively makes the lease run until 2028. They currently occupy 820m2 and 58 parking bays. Rokwil have also been in the premises on a 5-year lease which commenced in 2016, they enjoy an option for a further 3 years. This is Rokwil’s head office and they utilise 470m² and 12 parking bays.

The gross income is R3 189 933.05 + recoveries of utilities and security costs.

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Commercial Type:
Commercial Building
Web Reference:
AUCT-001254
List price:
POA
Address:
9 Old Main Road, Kloof, KwaZulu Natal
Auction Venue:
Isaiah Ntshangase Road
Durban
Durban
KwaZulu Natal
Auction Date:
18 November 2020 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by bank guaranteed cheque or EFT. No cash. FICA Document are required.
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DIRECTIONS
Auction Date: 18 November 2020 11:00 am

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