Property
Description
Property Description
This substantial multi-storey commercial building in New Centre, Johannesburg, offers approximately 14,074 m² of gross lettable area (GLA), providing a significant rental footprint within an established commercial environment. The property presents an investment opportunity for investors seeking a large-scale income-producing asset with established operations, diversified rental income and potential for further growth.
The building is equipped to accommodate a diverse commercial tenant base, with lift access throughout the property supported by a maintained service contract. Additional facilities include on-site tenant parking, 24-hour security and CCTV surveillance. Building-wide Wi-Fi and generator backup provide additional operational support, helping tenants maintain business continuity during power interruptions.
Operational efficiency is supported by sub-metered electricity and water, allowing for accurate tenant consumption billing and improved recovery of utility costs. The property also benefits from regular cleaning, refuse removal, pest control and fire-equipment maintenance. An on-site maintenance and management team oversees the building's day-to-day operations and responds to tenant requirements, contributing to the effective management of the asset.
The property generates an estimated Gross Annual Income (GAI) of approximately R8.3 million and a Net Annual Income (NAI) of approximately R3.3 million after operating expenses. Revenue is derived from basic rentals, parking income and operating-cost recoveries, providing a diversified income stream supported by established commercial operations.
Operational efficiency is enhanced by sub-metered electricity and water, allowing for accurate tenant billing and effective recovery of utility costs. On-site management and maintenance further support the day-to-day operation of the building.
Additional income growth may be achieved through the leasing of vacant space, rental escalations and improved occupancy levels. These opportunities provide investors with the potential to strengthen the property's net income and enhance its overall investment performance over time.
Features
• Approximately 14,074 m² gross lettable area (GLA)
• Multi-storey commercial building in New Centre, Johannesburg
• Established multi-tenant commercial property
• Gross Annual Income (GAI): +-R8 311 134,07
• Net Annual Income (NAI): +- R3 269 372,04
• Additional income from parking and operating-cost recoveries
• Lift access throughout the building with a maintained service contract
• On-site tenant parking 62 Basement parking Bays
• 24-hour security and CCTV surveillance
• Building-wide Wi-Fi
• Generator backup power
• Sub-metered electricity and water for accurate tenant billing
• Utility cost recovery from tenants
• Potential to increase income through leasing vacant space
• Upside through rental escalations and improved occupancy
Area Description
New Centre is an established commercial and light-industrial suburb immediately south of the Johannesburg CBD, in Gauteng, bordering Selby and the City Deep logistics node. The area is characterised by multi-storey commercial buildings, warehousing and industrial premises, with a dense surrounding workforce and strong demand for well-located, affordable commercial space. The subject property enjoys an established inner-city position with excellent access to the Johannesburg CBD and the public-transport network, and to the surrounding highway system including the M1 and M2 motorways, giving ready connectivity across the greater metro and to the City Deep freight and container terminal. The combination of a central logistics and commercial position, a large lettable footprint and strong accessibility makes it well suited to a multi-tenant, income-producing commercial investment.
Area Amenities
Johannesburg CBD (Marshalltown) – approximately 1.3 km
Joburg Mall, Johannesburg CBD – approximately 1.8 km
M2 motorway (nearest access) – approximately 1.8 km
City Deep freight & market hub – approximately 3.7 km