Investment For Sale Johannesburg Ad:669577

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South Africa > Gauteng > City Of Johannesburg Metropolitan Municipality > City Of Johannesburg > Johannesburg

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R20,000,000

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Investment 9+ bedrooms
For Sale
Johannesburg
South Africa

Germiston House is a fully renovated urban gem situated in Germiston CBD, next to the railway station and close to all amenities. The property is fully operational and fully let thus enabling the purchaser to `move in and start trading`.

On the first floor there are 28 x 1 bedroom flats, 7 overnight rooms and one 2 bedroom unit.
Moving up to the second floor, you will find 6 x 1 bedroom flats, 5 x overnight rooms and 17 x 2 bedroom units. In addition to this there are also 4 x servant`s quarters.

Germiston House is a versatile property and in addition to the residential units there are also 6 retail premises. These premises consist of a supermarket, nightclub (area=+/- 900m2) which is currently being used as a church and cr�che. A fully licensed bar with 5 licensed slot machines, a security and firearm training center, gift shop with operational cold-rooms and 2 restaurants/take away shops.

Please note that the Gambling License found in the bar which entitles the bearer to operate 5 slot machines may be expanded to accommodate 40 machines. However, in order to operate 40 machines there are specific clauses stipulated in the license which must be adhered to by the purchaser.

There is also a TAB license that will be transferred with the property upon sale. This is an excellent way to accrue extra income and it is not being utilized by the current owner. TAB license is not in use but is VALID and according to the estimates provided by Phumelela, the TAB regulatory body, the landlord is entitled to a 3% share of all earnings. Earnings are estimated to be ion gross PER MONTH for this specific area, which is approximately R75 000 per month for the landlord.

Germiston House also provides safe and secure parking for its clients, whether it is permanent residence or overnight rental.

Approximately 5 months ago 2 new heat pumps were installed and the traditional geysers were removed. This had a substantial effect on the cost of electricity supplied to the building, reducing the overall electricity consumption by over 40%.

The property accrues an average monthly income of approximately R 260 000NETT!!! This is after municipal deductions, wages, maintenance and all other costs have been deducted from the gross income.
The TOTAL asking price including all licenses, residential units, retail premises and all ancillaries is R --(Phone number)-- .

If you wish to make an appointment to view the property or would like to request financials or drawings please feel free to contact:
Mykail Gomez
Cell No.: --(Phone number)--

Work: --(Phone number)--
Email:

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