Students Accommodation -Fully let - Vanderbijlpark CBD
15500000 R
​The property has the following:-
24 x 2 bedroom units
18 x 1 bedroom units
2 x bachelor units
2 800sqm = 45 units
933 sqm basement parking = 27
Outside parking = 29
Monthly rental 1 february 2016 to 31 January 2017 R160 000 (excluding VAT)
Monthly rental 1 february 2017 to 31 January 2018 R171 200 (excluding VAT)
Monthly rental 1 february 2018 to 31 January 2019 R183 184 000 (excluding VAT)
(N.B There is a 7 % escalation every year)
EXPENSES R8 200.00 (Rates and taxes)
TOTAL GROSS ANNUAL INCOME 1st YEAR = R1 920 000.00
TOTAL EXEPENSES 1st YEAR = R98 400
TOTAL ANNUAL NET INCOME = R1 821 600
ROI @ R15 million = 12.1%
The owner of the property just signed a 3 year lease agreement with a managing agent for university students who will be occupying the property from 1 February 2016 for 3 years subject to renewal for another 2 years. ALL THIS INFORMATION WILL BE PROVIDED THROUGH THE LEASE AGREEMENT IN THE DUE DILIGENCE PROCESS
The property was extended upwards less than 4 years ago and all the units are in VERY GOOD CONDITION. SEE
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