Sign up for our newsletter

Be the first to know about upcoming Auctions.

Please complete required fields.
Please enter a valid email address.

Time to next auction

0
:
0
:
0
:
0

Property
Description

Property Description

MILSON HOUSE is located on 106A Twist Street, Hillbrow, Johannesburg. Across from Cambridge Foods Hillbrow, next to the old Nandos location, and walking distance from Hillbrow Police Station. Also nearby are FNB Bank, Shoprite Hillbrow and Coca Cola Jamaica Hillbrow. The property is located on a major transportation route for taxis and buses. The high-density zone is highly desirable for residential and retail tenants alike. The 6-storey high building is wholly owned and un-sectionalized. Comprising of 13 flats consisting of bachelors and 1 bedroom, estimated between 65 m2 – 85 m2. On the ground level, there are 2 spacious retails shops. An elevator is fitted; however, it is not in use currently. The foot traffic in the area presents a very attractive opportunity for franchise retail on the ground floor. It offers an excellent opportunity for refurb or student accommodation. The units are estimated at between 30 m2 – 43m2. These are typically self-enclosed one-bedroom units and bachelor units. Water and electricity are recovered per unit. The elevator in non-operational. This is an excellent refurb opportunity, with significant upside. The units are generally a good size and locality is excellent in relation to Central Joburg.

Features

Land Size 248 m2

GLA 1350* m2 (estimate)

13 Flats consisting of bachelor’s and 1 bedroom

2 floors of informally set up

2 Retail Shops

12 Balconies

Zoning – Business 1

Excellent location 

High density

Income R 105.666.00* p.m.

Expenses R 16.894.00* p.m.

Net Income R 88.772.00 p.m.* 

Note: (*) values with an asterisk are estimated

Area Description

Hillbrow is an inner-city residential neighbourhood of Johannesburg, Gauteng Province, South Africa. It is known for its high levels of population density, unemployment, poverty, prostitution, and crime. In the 1970s it was an Apartheid-designated "whites only" area but soon became a "grey area", where people of different ethnicities lived together. It acquired a cosmopolitan and politically progressive feel and was one of the first identifiable gay and lesbian areas in urban South Africa. However, due to the mass growth of the population of poor and unemployed black people after the end of Apartheid, crime soared, and the streets became strewn with rubbish. This, together with lack of investment and fear led to an exodus of middle-class residents in the 1980s and the decay of major buildings, leaving in its wake an urban slum by the 1990s.

Amenities

Engen Hillview Service Station 0,14 km

BP Glenrob Motors 0,19 km

BP Saratoga 0,95 km

Gautrain Bus Stop - Oxford Road - 9 4,64 km

Gautrain Parking 0,81 km

Nelson Mandela Children's Hospital 0,95 km

Zuzimpilo Clinic 1,40 km

Joburg Medical Centre 1,64 km

Saps - Hillbrow 0,31 km

SAPS - Yeoville 1,75 km

SAPS - Jeppe 1,96 km

New Lesedi Primary School 0,09 km

Izenzo Kungemazwi Community College 0,14 km

Afro Kombs College 0,12 km

Highpoint Shopping Centre 0,01 km

Montana Piazza 0,65 km

The Bridge Shopping Centre - East 0,93 km

Izenzo Kunge Mazwi Community College 0,74 km

University of the Witwatersrand - Education Campus 1,01 km

Uj-Dfc Admin Block 1,02 km

 

Property Reference Number: F105846

Registration Details

Refundable Registration Deposit: R10 000

When your deposit reflects in our account, you will be approved to bid.

To view our registration and payment details, click here.

PROPERTY TYPE:
Commercial

PROPERTY ADDRESS:
Milson House , 106 Twist , Hillbrow - Property Ref: F105846, Johannesburg , Gauteng

AUCTION ADDRESS:
ONLINE ONLY

AUCTION DATE:
2020-07-15

AUCTION START TIME:
14:00

KEY FEATURES

ERF SIZE: 248m2 | GBA: 1350m2

ENQUIRE NOW

Fill in your details below and we'll be in touch

Please complete the form field.
Input is not a valid email address!
Input is not a valid contact number

Sign up for our newsletter

Be the first to know about upcoming Auctions.

Please complete required fields.
Please enter a valid email address.

Copyright 2020 AuctionInc