An almost fully-let block of apartments centrally located in Kempton Park will go under Park Village Auctions’ hammer on 1 September.
That’s the news from PVA’s Nic Techmann. He says the sale represents a strong investment opportunity thanks to its current leases and growing demand for accommodation in the area.
Nic: “The apartment block is located in a suburb that is popular because of its centrality to the central business district, amenities, and public transport facilities. Proof of this is clear in the building’s 80% occupancy. Current contractual income totals just under R90 000 with even more potential to the discerning investor with facility management know-how. There is a sectional title register in place, appealing to broader investment appetites.”
Number 47 Kempton Road, Kempton Park, Gauteng, boasts 22 apartments (flats) and 16 garages with additional covered and uncovered parking behind a central, remote-controlled security gate.
There are sixteen 42 sqm two-bedroom and four 35 sqm one-bedroom units, each comprising an open-plan kitchen and one bathroom with a bath and toilet.
The building, zoned residential 4, measures 1 847 sqm under roof and is set astride land measuring 1 301 sqm.
Nearby facilities and amenities include Festival Mall, Kempton Park Taxi Rank Big Save, Rhodesfield Gautrain Station, Kempton Park Train Station, Arwyp Medical Centre, Kempton Park Primary School, and OR Tambo International Airport.
The auction will be held on-site on 1 September at 11 am, with viewing being held one hour before the start.
For more information, please visit web reference 1026 on www.parkvillageauctions.co.za or call Khumbo Kamanga on 076 219 4063.