Office For Sale

Ref # Ent0168041 : North End , Port Elizabeth , Eastern Cape

R 11,950,000

Property Description

This under-utilized commercial property is suitable for student accommodation.

The building is divided into 2 sections with an enclosed parking area at the back that can easily park 15-20 cars.

The front section of the property which runs along Govan Mbeki Avenue has 4 retail shops on the ground floor and 45 rooms/offices collectively in the 3 storey building.

The building has a lift for each floor and 3 phase electricity. Each floor has shared toilet and kitchen facilities. This section also has it's own fire escape.

The back section of the property, which runs down Doyle Street has 14 rooms, 4 of them have their own bathroom & kitchen and the remaining 10 on the top floor have a commune male/female bathroom and a shared kitchen.

This section has it's own separate fire escape from the top floor.

With some renovations, this building can be brought back to it's former glory and serve as a great investment property.

Current annual gross income: R1,248mil

ROI: 10,44%

Price excludes VAT.

Property Features

  • Property Type Office
  • Beds 59
  • Building Size 3,992m²
  • Stand Size 2,535m²
  • Rates & Taxes ± 17735.14

Property Location