|RENTAL||Renting off Plan.|
|PURCHASE||Sale not Offered.|
DEVELOPMENT OF THIS PROJECT IS DEPENDENT ON A MAJOR TENANT
Clearview Offices will be adjacent to the Gordon Road offramp to the N1 Highway. As such not only will the offices have exceptional access to the highway systems but also wonderful exposure.
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AVAILABILITY: Dependant on the procurement of Major Purchaser/Tenant
Clearview Offices are adjacent to the Gordon Road offramp to the N1 Highway. As such not only do the offices have exceptional access to the highway systems but also great exposure.
2. PROPERTY DETAILS
2.1 ERF DESCRIPTION
Erf 478, 454, 15, 16 and 17 Florida Glen measuring 14 134m2 and Erf 12 which measures 1012m2.
Majority of the properties are zoned for Business 1, floor space ratio or 1,0 and a minimum of a four-story height restriction and parking requirements of 4 Numbered bays per 100m2 for gross leasable office area.
Erf 12 is to be utilised only for parking purposes and is in the process of being rezoned for this end.
2.3 THE SECTIONAL TITLE BUILDINGS
A portion of the property will be developed as single office building over four floors with a double level basement. The building will take advantage of uninhibited views to the north in particular.
The façade of the building will be modern in character with combination of glass, steel, sandstone and plaster and a single pitch roof.
The building itself will total 3800m2 which will be split into separate sectional title units ranging in size from 150m2 upwards.
The parking has been provided on the basis of 5 Numbered bays/ 100m2 of office space.
Each individual office entrance will have its own front door off the main lobby of the office block, conveniently situated with regard to the visitors and parking access points. Each suite will have its own exclusive toilet and kitchen facilities.
The units are available for ownership on a sectional title basis and can be amalgamated if necessary to provide the size required by the perspective purchaser. Each unit will be allocated a minimum number of parking bays as per the schedule.
3. FINISHES & INSTALLATION ALLOWANCE
Each unit will come complete with toilets and kitchens, toilet, acoustic ceilings, lay-in fluorescent lighting, plastered walls, and electrical plugs and telephone jacks at obvious points.
In addition, an allowance based on the area of the offices will be available to the purchaser/ tenant payable on transfer. The rationale for including the finishes in the price of the unit is to ensure that this cost can be covered by the investors’ bond. Alternatively, the purchaser can elect to deduct this off the price and pay for the installation out of his own cashflow.
Note: The owner of each unit will be responsible for his own fit-out of the premises utilising this allowance. The Developers will however undertake the installation on behalf of the owner, upon request. Alternatively the Developer can provide a list of recommended contractors specialising in tenant installations should this be required. The schedule of finishes is attached hereto. ,br> Each unit’s electricity will be separately metered.
4. CLEARVIEW OFFICES BODY CORPORATE
The Clearview sectional title scheme will have a Body Corporate of elected owners who will administer the office block themselves, including the security, landscaping, maintenance and other issues common to the office park.
5. THE DEVELOPMENT TEAM
The development will be undertaken by Brydens Commercial Properties, an active developer in the Johannesburg region, with an excellent track record.
A full Professional Team will be employed on the contract as follows :
Architects : Bromag Architects
Project Manager: Brydens
Quantity Surveyor: Russell Irons & Associates
Electrical Engineer: To be advised
Civil Engineer: To be advised
Landscape Architect: To be advised.
6. DEVELOPMENT PERIOD
To be advised.
7. SECTIONAL TITLE
Sectional title ownership is an accepted form of property tenure in South Africa, against which banks are more than prepared to grant bond finance.
Whereas in freehold title the owner has ownership over the land, under a Sectional Title scheme the owner would have the exclusive use of a unit (being the internal area of the office as defined by the four walls surrounding the unit), as well as other defined areas such as parking bays, garages, storerooms and the like.
The common area, i.e. gardens, access ways, etc., are held by each unit in an undivided share.
Upon registration of the Sectional Title scheme the Body Corporate is automatically instated, and has the ability to enter into contractual relationships with security, landscape gardeners, and the like.
8. SUSPENSIVE CONDITIONS
The offer herewith is subject to the following suspensive condition :
11.1 The Site Development Plan being approved by the relevant authorities
11.2 50% of the sales being achieved
The concept of small sectional title offices has been well received in the Johannesburg area. The Developers are considered leaders in this field and have completed a number of schemes all of which have been sold out within months of being launched. Please refer to their website www.brydensgroup.com for other schemes that they are in the process of constructing.
The concept is based on the following critical success factors :
The owner-occupier will find that the bond repayment is commensurate with a market- related rental.
The sectional title units are of A-grade quality with a more than adequate installation allowance.
9.3 WASTAGE FACTOR
Tenants and owner-occupiers alike are averse to paying rental on a common area, which can be as much as 30% of the rental in traditionally designed office blocks.
Typically, common areas consist of large entrance foyers, lobbies, toilets and communal kitchen facilities, as well as the passages accessing the individual tenants’ premises. In the scheme on offer, although the lobbies are well appointed, they are modest in size and do not form part of the rentable area of the premises, nor do they form part of the purchase price of each unit.
9.4 OWN FRONT DOOR
The owner-occupier or tenant of the offices is afforded a high profile with a front door off the main lobby, and not at the end of a dark corridor, as is the case in traditional office blocks.
9.5 PRIVATE BALCONIES/ TERRACES
The provision of one or more private balconies/ terraces in each unit is a highly attractive bonus.
9.6 SELF-CONTAINED TOILETS AND KITCHENS
The provision of private toilets and kitchenettes in each unit provides each owner-occupier/ tenant with its own autonomy.
9.7 ASSET CREATION
Each sectional title unit is a highly sort after investment and will provide the owner/occupier with a long-term revenue producing asset, as well as providing increasing capital growth.
In conclusion, the small sectional title office concept is highly focussed on the needs of the smaller business, and has been extremely successfully implemented by the developer in schemes elsewhere.
LOCATION and SITE PLAN