Property
Description
Property Description
Situated within an established commercial and residential precinct, this mixed-use property comprises 16 residential apartments – eight one-bedroom and eight two-bedroom units – together with three street-facing retail shops that enjoy exposure along a busy commercial thoroughfare. The building currently requires extensive refurbishment and is offered on a 100% vacancy basis, presenting a value-add opportunity to modernise and reposition the asset. Once redeveloped, the combination of residential accommodation and retail space offers the potential to generate diversified rental income. The property is offered for sale by auction. Any reference to development, redevelopment, refurbishment or alternative use reflects the property’s potential only; prospective purchasers must conduct their own due diligence and satisfy themselves as to permissible use, zoning rights, and the cost and feasibility of any works, as no warranties are given in this regard.
Features
Property type: Block of Flats (mixed use)
Total number of units: 16 (eight one-bedroom and eight two-bedroom apartments)
Three street-facing retail shops
Vacancy rate: 100%
Staff quarters: Yes
Stand / erf size: 1503 m²
Property potential: fill vacancies, under-market rentals, refurbishment / value-add, signage / billboard opportunity
Overall condition: Poor
Walls & structure: Fair; Roof: Fair; Windows & doors: Fair
Electrical: Poor; Plumbing: Poor; Flooring: Poor; Exterior / facade: Poor
Known issues: roof leaks, damp / mould, structural alterations
Condition details are provided for general guidance only and are not warranted. Prospective purchasers must satisfy themselves as to the condition of the property through their own inspection and due diligence.
Area Description
Orange Grove is an established, well-located suburb in the north-eastern part of Johannesburg, set along Louis Botha Avenue (the M11), a major arterial route that links the Johannesburg CBD with Houghton, Sandton and the northern suburbs. The area combines older residential housing with active street-front retail and commercial activity, and benefits from public transport along the corridor as well as ready access to surrounding business and shopping nodes. Its central position offers convenient connectivity to nearby suburbs including Houghton, Killarney, Norwood and Rosebank.
Area Amenities
Orange Grove Park – 1.1 km
Netcare Linksfield Hospital – 1.7 km
Netcare Linkwood Hospital – 1.8 km
Killarney Mall – 2.6 km
M1 highway access – 3.9 km