AUCT-001534 | On Auction

Block Of 99 Flats & Retail Shop

Until Our Next Auction
21 September 2021 | 11:00:00 am

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    2021-09-21 11:00:00
    Block Of 99 Flats & Retail Shop

    OPENING BID: R5 MILLION- Block Of 99 Flats & Retail Shop. 2-6 Harries Street, Marshalltown, Johannesburg

    Projected Rental Income (if fully tenanted): ±R2.750 million | Gross Building Area: ± 2 300 m² | Hostel type accommodation

    Marshalltown, Gauteng


    The property offers a well-located converted residential building on a site measuring 916 m² in extent. The property is accessed via both Harries Street and Eloff Street. It is positioned within walking distance to various Municipal and Government Offices such as SAPS, Department of Infrastructure, Department of Home Affairs, SARS and close to tertiary institutes such as UNISA and Boston City Campus. The triple storey residential building offers hostel type accommodation which is accessed via Harries Street and the 4 retail shops accessed via Eloff Street.

    The residential component with the 99 rooms includes:
    86 x small rooms of approximately ± 10 m²
    13 x bigger rooms of approximately ± 20m²
    Various communal bathrooms
    A communal laundry room
    A large communal kitchen on a mezzanine level.

    The residential component is accessed via a biometric access control system through a turn style gate on the ground floor. Access to upper floors is obtained via a central steel constructed stairwell. Each of the rooms comprises prepaid electricity meters. The retail component offers 4 retail shops which vary in sizes ranging from 14m2 to 30m2. All retail shops front onto the busy Eloff Street. It should be noted that all movable assets within the tenant premises are specifically excluded from the sale of the property.
    The building is a brick structured building which has been converted from an industrial building into a multi-unit residential building. The finishes comprise of a concrete floor, plastered and painted brick walls on the exterior and interior with a corrugated iron roof with translucent sheets. Smoke detection systems are in place.

    This property, known as Villa Kazi is located in one of the central suburbs of City of Johannesburg in a township known as Marshalls Town. Marshalls Town is an established previously industrial node which is being converted into a mixed-use node with residential improvements, commercial properties as well as industrial premises geared towards light workshops and warehousing as well as office space. Villa Kazi is centrally located in an established residential node just south of Johannesburg Central Business District. It is situated at 2 - 6 Harries Street, at the corner of Eloff Street and Harries Street. The property enjoys excellent exposure to high volumes of passing vehicular traffic, with easy access to the M2 (Francois Oberholzer Freeway).

    The property is considered to have a good location for residential use regarding its proximity to nearby work opportunities for tenants in the building. Access to public transport is readily available along most of the main routes in the area. Road access to the property is good and the road infrastructure is well designed and maintained. All municipal services are available and appear to be functional. Most amenities are available in the nearby Johannesburg Central Business District, City and Suburban, Salisbury Claims and Ferreiras Dorp areas.
    Commercial Type:
    Retail Space
    Web Reference:
    AUCT-001534
    List price:
    POA
    Address:
    2 - 6 Harries Street, Marshalltown, Johannesburg, Gauteng
    Auction Venue:
    Mount Edgecombe Country Club
    Mount Edgecombe
    Durban
    KwaZulu Natal
    Auction Date:
    21 September 2021 11:00 am



    Auctioneer:
    Auction Terms and Conditions:
    R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

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