This building was bought by the current owners in 1992.
This property comprises of the following.
Situated in the CBD of Benoni.
A two-story retail building.
Land Size: 714m²
Access to the first floor can be gained via the ground floor entrance.
On the Corner is a Café.
Next to that is 2 more Offices to let.
The first floor is being rented out and is used as a Night Club.
This property is Vat registered.
The lease term is available for the Night Club.
Each of the Stores 5 x 160m² is also leased out.
Strengths? – Well located building, situated in the middle of the Benoni CBD. It is also close to all Transport facilities, buses, and Taxis as well as the Lakeside Mall. This can easily be re-developed into dwellings.
Weaknesses? – The Facility only has parking outside on the pavement.
Opportunities? – Converting this building into apartments for accommodation. As Benoni CBD has transformed a few buildings into accommodation or Schools. There are many schools and Colleges in the area.
Threats? – If the building is converted into apartments, they should be aimed at middle-class tenants like students. As lower-income tenants are not the type you are trying to attract to the area.
Conclusion as to why this is a good property to purchase:
If this building was fully let or converted properly it would yield an even better return on investment.
Updated on June 27, 2023 at 9:01 am
Reference #: 1320755
Suburb / Town: Benoni
Property Type: Retail
Building Size: 1200.0 ㎡
Stand Size: 714.0 ㎡
Rates & Taxes: R 4325
Parking Open Size:10m²
Mandate Price:total gross price
Deposit Requirements:1/3 for purchasing Commercial