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); |