193m² Office For Sale in Umhlanga Ridge

R6,319,168

Web Ref No 3283225

Investment Opportunity office space in Ridge 7 Piazza place, Umhlanga Ridge

A UNIT SPECIFIC DETAILS:
1.1 / Office Suite Number
1.2 floor level 11 great harbour and sea views
1.3 (m²)sectional Title area 193 sqm
1.4 (m²)Balcony area 23 sqm
1.5 (m²) / Store Room Number 1 (No.) 7 sqm
1.6 (No.) / 9x Regular Bays
1.7 (PQ) quota share participation 2.87%
NOTES:
*Sectional title areas based on the paper measure are Provisional and subject to the Land Surveyors final "as built" survey.
*Parking bay numbers are Provisional subject to final parking allocations achieved upon completion.
B SELLING PRICE OF UNITS: (Based on Bank Approved Feasibility Study / Includes Parking) Excluding VAT
1.1 Office Suite Development Cost at R26 500.00/m² /m² x 193 m²
NOTES:

* The above prices Include construction and development contingencies. If these contingencies are not required, the purchase prices will be adjusted upon final account.
C DEPOSIT REQUIREMENT: (30%) (Cash Flow Equity Contribution excluding Agents commission)
1.1 Approximate Net 30% Deposit on Purchase Price 30%
1.2 Interest on delayed deposit (Interest since May 2017 after the project launch @ 6.5% per annum)
Total Equity Requirement (Excl. VAT)
NOTES:
D END BOND REQUIREMENT: (70%) (Excluding Bank's Loaning Interest & Repayment Period - TBC between Shareholder and Bank of choice)
1.1 Approximate Net 70% End Bond Required 70%
1.2 VAT on Full Purchase Price (100%) 15% (Linked to full purchase price under "Section B")
Total End Bond Finance Required (Including VAT)
NOTES:
* After the 4.2%VAT loan has been returned to shareholders, all shareholders contributions will be net of VAT and will require to include 100% of the VAT on their bond.
* End bond finance approval to be arranged upfront by the Purchaser and submitted to Investec Bank as proof of financial commitment after transfer.
E DEVELOPMENT DETAILS:
1.1 Anticipated construction start date: Aug 2017
1.2 Anticipated construction completion date: June 2019
1.3 Anticipated Transfer date: July 2019
1.4 Total Estimated Commercial Sectional Title Area m² 7514 sqm
1.5 Approximate Parking Ratio Provided 5/ 100 sqm
1.6 Approximate Total Number of Sections: 29
1.7 Total Development CAPEX as per Bank Feasibility (Exlc. VAT) R 213 600 000.00
any more inquiries please contact me

Features

Zoning Commercial
Floor Size 193m²
Land Size 7,514m²

Broker Contact Details

Louis Nyiri
Umhlanga Rocks

Cell 0847025695
Office (031) 5611090

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