Pristine condition accommodation facility offering 147 living units located on Nelson Mandela Drive, Secunda. Property is very centrally located as per map below, near schools, shopping centers and all amenities. The versatile property has great infrastructure and facilities in place that can be widely used for a number of different uses.
This property is well-maintained and well-kept. It has been successfully operated and run by a corporate client for the past ±30 years, offering the accommodation at a discounted rate to their staff.
The property has been partly renovated with additional accommodation recently built.
Great security and access controlled.
Renting these units and rooms to private individuals will generate a much higher (market-related) rental-income per month as there is a great demand for affordable accommodation in Secunda.
Property Description:
147 LIVING UNITS (7 x Free-Standing Buildings)
- MAIN BUILDING
- 100 Rooms with Built-in-Cupboards and a Basin
- 19 Bachelor’s Flats (ground floor, own shower, toilet & kitchenette)
- Each floor has its own modern communal kitchen and ablution (renovated)
- ADDITIONAL BUILDINGS:
- 27 Spacious One-Bedroom Flats (Kitchen, Lounge / Dining Area, Bedroom & Bathroom) + 3 of these units have their own private courtyards
- 1 Spacious Two-Bedroom Flat (Private Courtyard, Kitchen, Lounge / Dining Area, 2 Bedrooms & Bathroom)
- Newy built with good security
- Each flat has its own designated garage
- Communal braai and relaxation area
- Whole facility is fully enclosed with steel palisade and access-controlled boom gate
- 90 Parking Bays: 32 Open Parkings / 58 Underroof Parkings
- Additional: 60 Garages / Storage Units
CURRENT INCOME
All leases are on a month-to-month basis
Main building, rooms: R 1 622.00 per month (100 units)
Main building, bachelor’s flats: R 3 137.00 per month (19 flats)
One-bedroom flats: R 4 500.00 per month (27 flats)
Two-bedroom flat: R 4 500.00 per month (1 flats)
Water included in monthly rental.
Electricity is pre-paid except main building.
RENTAL INCOME BREAKDOWN
|
Units |
Description |
Unit Rent p/m |
Total |
|
100 |
Main Building Rooms |
R1 622,00 |
R162 200,00 |
|
27 |
One Bedroom Flats |
R4 500,00 |
R121 500,00 |
|
1 |
Two Bedroom Flat |
R4 500,00 |
R4 500,00 |
|
19 |
Bachelor Flats |
R3 137,00 |
R59 603,00 |
|
1300sqm |
Kitchen / Storage / Lounge |
R15 / sqm |
R19 500,00 |
|
500sqm |
Laundry |
R30 / sqm |
R15 000,00 |
|
Total Monthly Rental Income |
R 382 303,00 |
||
|
Gross Annual Rental Income |
R 4 587 636,00 |
POTENTIAL ADDITIONAL INCOME PER MONTH
|
Units |
Description |
Unit Rent p/m |
Total |
|
60 |
Storage / Garages |
R450,00 |
R27 000,00 |
|
Annual Rental Income |
R324 000,00 |
EXPENDITURE BREAKDOWN
|
Description |
Total |
|
Insurance |
R 13 333,33 p/m |
|
Rates & Levies |
R26 310,00 p/m |
|
Maintenance Provision |
R30 00,00 p/m |
|
MONTHLY EXPENSES |
R 69 643,33 |
ALTERNATIVE INCOME-GENERATING OPPORTUNITIES:
- Convert this facility into a proper INCOME-GENERATING PROPERTY!
- Full lodging, offering breakfast, lunch and dinner to guests
- Conference center can be rented out
- Catering: Industrial kitchen can be used to prepare meals on order
- Laundromat
- Storage Units / Garages
- Chef School
- Corporate Accommodation
- Training Facility
- Could also be perfect for rehabilitation centres, Alzheimer facilities, special schools
Easy to convert as the facilities are in top notch. Numerous options include Retirement Village, Frail Care Centre and a Drug Clinic just to name a few. The facilities and infrastructure are in place with the industrial kitchen, communal laundry, offices, storage and ample accommodation to run a successful facility.
