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R 1,995,000
  • Date Listed15/05/2019
  • For Sale ByOwner
  • Available From15/05/2019

One sectional title section, consisting of 28 storage units for sale as one lot at R1 995 000; R240 000 per annum rental income guaranteed with a headlease signed by the Seller (12.03% yield!). Since the usual 10% management fee will be waived, you are getting an extra 10% return at no cost. Current rentals are R695/m, thus R765/m after 12 months, assuming the usual 10% increase: this would equate to a 12,88% yield.

282m2 in total; each unit is roughly 6 m deep by 1,5m wide by 3,2 m high. The amount of storage is actually quite a lot: apparently these can house "the contents of a three-bedroom apartment, or 150 medium boxes, or 225 archive boxes” (as per Please note the sizes: these are first-floor half-garage size units.

The sections are held in a VAT-registered entity so you could pay no transfer duty and be zero-rated for VAT.

Each unit has a light, a fire sensor and the door is on a self-closing spring.

For security, there is an admin office at the entrance, Security personnel plus 24-hour secure controlled access (tenants can only access with unique codes); plus CCTV monitoring and an electric fence.

All units are now occupied, but the Seller is prepared to sign a headlease for R20 000/m for 12 months on all 28 units to give an investor peace of mind regarding the return.

Levies: R12.00/m2; total R3384/m

Rates: R 4.70/m2; total R1325/m

No further costs (insurance, water, security etc is covered in levies).

Situated just off the N2 between Somerset West and the Strand/Gordons Bay in the Helderberg Business Park is the storage complex know as Storage Broadlands: 40 Chilwan Crescent / 13 Koster Street

Seller(More ads from this seller)
User since Dec 2010