Description

Building Name

 

  

Student Accommodation Building 

PRICE R63 MILLION 9% Forward Yield on 12 Months or make offer
Address  

Claremont, Cape Town

 
Erf Description  

Cape Town

 
Erf Size ( sq. m)  

•2 742

 
Configuration Style  

•Dormitory

 
Number of Beds  

•196 ( Single & 2-Sharing)

 
Number of Rooms  

•106

 
Ground Floor Retail GLA (sq. m)  

•804

 
Number of Floors  

•5 ( including Ground Floor)

 
Current Student Occupancy ( February2020)  

•100% (Head Lease with CPUT)

 
Comments  

•Building acquired in 2008

•Building has undergone significant refurbishment to date by

•Dormitory –style configuration

•Biometric Access Control

•Central Smoke & Fire Detection

•Central Heat Pumps

•CCTV Monitoring

•2020 CPUT Accreditation

 

 

NDA  

•Each prospective buyer to conclude an NDA
Due Diligence/Exclusivity Period  

•20Business Days

 
Pricing  

•9% Forward Yield on 12 Months

 
Conveyancer  

•To be appointed by Seller

 
Conveyancing Fees  

•To be paid by Purchaser

 
Comments  

•Pro-forma Income Statement to be provided upon conclusion of NDA;

•Site visit to be undertaken upon conclusion of NDA;

•Further financial information to be provided upon acceptance of OTP by the Seller ( subject to approval);

•Further building information to be provided upon acceptance of OTP by the Seller (subject to approval);