Commercial Property for Sale in Thomson Street, Pretoria, Gauteng, South Africa

Commercial Property in Desirable Location

This commercial property provides an excellent long term investment. The net running yield is 9.4% and annual rent increases of 9%, on average, are assured. The ongoing development in the Hatfield area of Pretoria will underpin the value of this investment.

All the units are fully-let with long standing tenants, providing a total gross rental income in excess of R1 million (approx 95,000 euros) as of 4th quarter, 2009. Running and maintenance expenses are moderate at approx. 25% of gross rents.

In summary, there are 9 shops (662 sqm of lettable retail space) and 11 appartments / flats (744 sqm of rentable space). All apartments are either 1 or 2 bedroom flats with private parking. There is also 837 sqm of parking and commercial land which is zoned for “General Business” use, providing scope for further development. A right of way of 282 sqm divides the 2 stands.
The total land area is 2,525 sqm of which 1,406 sqm is currently lettable space.

The properties for sale occupy most of the entire block bounded by Glyn, Gordon, Thomson and Bernard Streets in Colbyn, near Hatfield, Pretoria, South Africa. The properties are conveniently located close to the N1 and N4 freeways and the Hatfield Gautrain Station. The area is midway between Pretoria’s landmark site, the Union Buildings and the botanical gardens, close to the Pretoria Central Business District.

Hatfield (“the Embassy suburb”), an area very close to Colbyn, is undergoing rapid development enhanced by its status as host to a large collection of international embassies, trade missions and commercial developments. It is also in close proximity to the Loftus Versfeld Stadium which is currently undergoing a multi-million rand facelift in preparation for the 2010 World Cup