1318-1320 Spyker Crescent - Aucor
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Stormill Warehouse Facility with Offices
Roodepoort GLA ± 2,700m2
1318-1320 Spyker Crescent
Wednesday, 27 May 2020 @ 12h00
Houghton Golf Club – Osborn Road, Houghton, Johannesburg
Mark Momberg | 071 491 9266 | MarkM@aucor.com
Version 1: 1 April 2020 NT
Warehouse Facility with Offices – Heriotdale, Johannesburg
Index
Disclaimer, Auction Information and Terms & Conditions Page 3
Property Images Page 4
Executive Summary & Key Investment Highlights Page 7
General Information Page 8
Locality Information Page 9
Property Description Page 11
Projected Gross Annual Income – Summary Page 14
Projected Gross Annual Income – Detailed Page 15
Lease Summaries Page 16
Rates Statement Page 17
Zoning Information Page 21
General Plan Diagram Page 26
/AucorProperty www.aucorproperty.co.za 2
Warehouse Facility with Offices – Heriotdale, Johannesburg
Disclaimer, Auction Information and
Terms & Conditions
Disclaimer
Whilst all reasonable care has been taken to provide accurate information, neither Aucor Corporate (Pty)
Ltd T/A Aucor Property nor the Seller/s guarantee the correctness of the information provided herein and
neither will be held liable for any direct or indirect damages or loss, of whatsoever nature, suffered by any
person as a result of errors or omissions in the information provided, whether due to negligence or otherwise
of Aucor Corporate (Pty) Ltd T/A Aucor Property or the Seller/s or any other person.
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Auction Information
Deposit 5% of bid price
Commission 10% plus 15% VAT thereon of the bid price
Confirmation period 2 Business Days
Rules of auction and conditions of sale are available at www.aucorproperty.co.za/
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Terms & Conditions
R50 000 refundable deposit (strictly bank guaranteed cheque or cash transfer only). Bidders must provide
original proof of identity and residence on registration. No cash will be accepted at the auction. No
exceptions. All bids are exclusive of VAT. Aucor Property may bid up to reserve on behalf of the sellers.
Subject to change without notification. Auctioneer: Pieter Geldenhuys.
/AucorProperty www.aucorproperty.co.za 3
Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images
Exterior Images
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images
Office Component
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Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Images
Industrial Component
/AucorProperty www.aucorproperty.co.za 6
Warehouse Facility with Offices – Heriotdale, Johannesburg
Executive Summary &
Key Investment Highlights
Street Address: 1318-1320 Spyker Crescent - Stormill, Roodepoort
GPS Co-Ordinates: -26.2047, 27.9458
Erf 52 - 2,118m²Erf 61 - 2.085m²
Registered Land Size:
Total land size - 4,203m²
'Industrial 3' - See a copy of the zoning confirmation attached to
Zoning:
this brochure
Assessment Rates: R10,996.54 - Excluding consumption charges and city levies
See pages 12-13 for full accommodat ion det ails
The improvements on the subject property comprise of a big box
Accommodation: warehouse with a double storey office/showroom component
configured along the street front, supported by temporary
structures (sheds, canopies) erected in the yard.
Gross Lettable Area 2,700m² (Seller Supplied)
Area Description GBA (± m²)
Warehouse 2 053.5
Office Component (Ground floor) 390.6
Mezzanine Offices/Showroom (First floor) 390.6
Gross building Area 2 834.7
Temporar Structure (Shed) 64.6
Approx. Total Gross Building Areas: Storeroom 9.6
Total Approximate Built Areas 2 909
Not es:
The Gross Building Areas are approximat es based on a
combinat ion of on-sit e and aerial phot ograph
measurement s t aken along t he out er walls of built
st ruct ures.
The property is currently occupied in terms of an ongoing lease
Occupation:
agreement. See pages 14-16 for details.
Neat, flex building currently utilized as a manufacturing and
warehousing facility, considered ideal for both investors and end-
users due to the desirability of the locality.
Situated in a strategically advantageous proximity to a major
arterial road and the N1 western bypass highway linking the locality
Key Investment Highlights: to the neighboring economic hubs and beyond in the Greater
Gauteng City region.
Currently tenanted n terms of an ongoing lease agreement,
providing strong income generating capacity with a projected
gross annual income of ±R1,100,378
By bidding on t his propert y, t he purchaser acknowledges t hat he has acquaint ed himself wit h t he ext ent
and t he nat ure of t he propert y he is buying, and t hat he accept s t he propert y as such.
/AucorProperty www.aucorproperty.co.za 7
Warehouse Facility with Offices – Heriotdale, Johannesburg
General Information
Street Address 1318-1320 Spyker Crescent - Stormill, Roodepoort
GPS Co-Ordinates -26.2047, 27.9458
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Title Deed Information
Title Deed Number T44571/2016
Registered Owner Cumulative Properties (Pty) Ltd
VAT Registration Status Registered VAT vendor
Title Deed Description Erven 52 and 6, Stormill Extension 2
Registered Land Size Erf 52 - 2,118m² Erf 61 - 2.085m²
Total land size - 4,203m²
Title Deed Conditions A copy of the title deed is on hand and will be made available
to prospective purchasers upon request.
________________________________________________________________________________________________________
Municipality Information
Municipality City of Johannesburg Metropolitan Municipality
Rates Based on the municipal tax invoice as received for the February
2020 billing period. See a copy of this document attached to this
brochure for these and other charges.
Municipal 2019 / 2020 2019 / 20 Annual 2019 / 2020 Monthly
Erf no. Rates Category
Valuation Tarif Rates Rates (Annual ÷12)
52 R 6 520 000 0.0201470 R 131 358.44 R 10 946.54
Business
61 R - 0.0201470 R - R -
Property assessment rates payable per month R 10 946.54
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Zoning Information
Zoning 'Industrial 3' (See a copy of the zoning certificate attached to
this brochure)
Permitted Uses (per scheme) * "Industrial purposes, commercial purposes, business purposes,
builders yard, building material storage."
Height Restriction Height Zone 12(12) - 3 Storeys
Coverage 70% / 2,942.1m² (Combined)
F.A.R 2,1 / 8,826.3m²
Building lines 3m along the street boundary; 1.5m along all other boundaries
Parking As per scheme*
* Johannesburg Land Use Scheme, 2018 - a copy of the scheme is on hand and will be made available upon
request.
/AucorProperty www.aucorproperty.co.za 8
Warehouse Facility with Offices – Heriotdale, Johannesburg
Locality Information
Macro Locality
The subject property is situated in an established industrial suburb known as Stormill. Stormill is one of a
number of Industrial suburbs between Johannesburg and Roodepoort dotted along the major Main Reef
Road. Main Reef Road is an important arterial road connecting several economic hubs in Ekurhuleni and
the City of Johannesburg, including Germiston, the cluster of industrial suburbs south of the Johannesburg
CBD and Industria (to the east of the subject property), while Robertville and Manufacta can be found to
the west of the subject property. This allows for the enhanced opportunity for companies located in the
area to exploit strategically synergistic and corporate relationships with companies in these hubs. All major
and general amenities are available within easy access in and around the node. All major municipal
services are available in the area. GPS coordinates for the site are as follows: -26.2123, 28.1196
N
Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe
/AucorProperty www.aucorproperty.co.za 9
Warehouse Facility with Offices – Heriotdale, Johannesburg
Locality Information
Micro Locality
Putcoton
Industria
Image Data: Google, AfriGIS (Pty) Ltd, DigitalGlobe
/AucorProperty www.aucorproperty.co.za 10Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description
Approximate Boundaries
N
Image Data: City of Johannesburg GIS
/AucorProperty www.aucorproperty.co.za 11Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description
Accommodation The improvements on the subject property comprise of a big box warehouse with
a double storey office/showroom component configured along the street front,
supported by temporary structures (sheds, canopies) erected in the yard.
The ground floor of the office component hosts a reception area, multiple private
and shared offices, a boardroom, a kitchen/clean up area and multiple ablutions.
The first floor is accessible via a stairwell in the manufacturing component. The first-
floor features mostly open spans and is currently utilized as a showroom.
The manufacturing component comprises a double volume flex facility offering
open spans with generous eaves heights. The space has been configured into four
sections by way of brick wall partitioning, which can be removed without affecting
he structural integrity of the building. Production offices and stores have been
configured onto the floor plate, mostly by way of drywall partitioning. The facility is
accessible from the yard by way of 6 large roller shutter doors.
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Additional Features Additional improvements on the subject property include:
• Extensive sprinkler system installed throughout the facility (supported by a
pressure booster)
• Generous eaves height (± 7.2m)
• Large flex facility allowing for multiple light industrial uses
• Power floated concrete floors under heat-insulation ceiling panels
• 6 large roller shutter doors providing access to the facility from the yard
• Two access points to the yard via automated gate entrances
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Construction The building is constructed of a steel superstructure with brick wall panels finished
with IBR cladding along the upper half of the brick wall structures, extending
downwards from the roof, which has also been constructed of IBR roof sheets.
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Fixtures and Finishes The warehouse component features power floated concrete flooring under a roof
finished with heat insulation panels with various ventilation implements installed.
The roof further features translucent panels for added natural light into the building.
The office component features standard finishes along the ground floor with
flooring being a combination of ceramic tiles and carpeted floors under a
combination of suspended ceiling boards and a rendered and painted concrete
ceiling. The first-floor features similar finishes with the exception of the ceiling i.e.
heat insulation panels.
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Utilities All municipal services and utilities are supplied by City of Johannesburg
Metropolitan Municipality.
/AucorProperty www.aucorproperty.co.za 12Warehouse Facility with Offices – Heriotdale, Johannesburg
Property Description
Gross Building Area Area Description GBA (± m²)
Warehouse 2 053.5
Office Component (Ground floor) 390.6
Mezzanine Offices/Showroom (First floor) 390.6
Gross building Area 2 834.7
Temporar Structure (Shed) 64.6
Storeroom 9.6
Total Approximate Built Areas 2 909
Not es:
The Gross Building Areas are approximat es based on a
combinat ion of on-sit e and aerial phot ograph
measurement s t aken along t he out er walls of built
st ruct ures.
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Gross Lettable Area 2,700m² (Seller supplied)
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Perimeter and Yard The property is enclosed by way of steel palisade fencing throughout.
The yard is generally interlock brick paved.
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Parking Street front parking is available along the Spyker Crescent extent.
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Occupation The property is occupied in terms of an ongoing lease agreement. See page 15 for
details.
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Condition The property offers fair curb appeal with the improvements requiring only ongoing
repairs and maintenance required. No structural survey of the buildings has been
undertaken nor have tests or inspections of service installations been arranged.
There has been no environmental survey/audit to establish the existence or extent
of any environmental contamination.
By bidding on this property, the purchaser acknowledges that he has acquainted himself with the extent and the nature of the
property he is buying and that he accepts the property as such.
/AucorProperty www.aucorproperty.co.za 13Warehouse Facility with Offices – Heriotdale, Johannesburg
Projected Gross Annual Income –
Summary
Contractual Cashflow Projections - June 2020 to May 2021
Basic Rent /
Premises Item / Tenant Expiry Date Esc Area Let Total
m²
Erven 52 & 61 Decoman Warehouse 31/12/2022 R 32.40 8% 2 700 1 105 747.20
Recoveries
Property Assessment Rates 6 845.88
Refuse Removal 5 281.08
12 126.96
1 117 874.16
Notes/Assumptions
1. The Basic rent , Escalat ion rat e and t he approximat e area is as ext ract ed from t he execut ed lease agreement .
2. In t erms of t he lease agreement , t he t enant is liable for t he assessment rat es as levied by Council. For t his reason, t he
income recovered on a mont hly basis has been added t o t he base rent al income.
3. All amount s represent ed above are exclusive of VAT.
4. The t enant is liable for increases in t he propert y assessment rat es expense, and t he full refuse removal levy (plus a 2%
surcharge) billed t o t he Seller's account by Council.
5. Only cont ract ual cash flows have been considered in t he above analysis.
Special Not e - The rent al informat ion in t his brochure is not int ended t o const it ut e specific advice nor t o subst it ut e for a
due diligence exercise, and accordingly should not be relied upon t o make a purchase decision. Prospect ive purchasers
should make t heir own enquiries and invest igat ion t o confirm pert inent informat ion and forecast s, and should furt her seek
appropriat e independent professional advice in relat ion t heret o from suit ably qualified professionals t o complet e t heir
own due diligence in relat ion t o t he Propert y.
E & OE
/AucorProperty www.aucorproperty.co.za 14Contractual Cashflow Projections - June 2020 to May 2021
Basic Rent /
Premises Item / Tenant Expiry Date Esc Area Let Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Total
m²
Erven 52 & 61 Decoman Warehouse 31/12/2022 R 32.40 8% 2 700 87 480.00 87 480.00 87 480.00 87 480.00 94 478.40 94 478.40 94 478.40 94 478.40 94 478.40 94 478.40 94 478.40 94 478.40 1 105 747.20
Recoveries
Property Assessment Rates 570.49 570.49 570.49 570.49 570.49 570.49 570.49 570.49 570.49 570.49 570.49 570.49 6 845.88
Refuse Removal 440.09 440.09 440.09 440.09 440.09 440.09 440.09 440.09 440.09 440.09 440.09 440.09 5 281.08
12 126.96
Projected Gross Contractual Annual Income 1 117 874.16
/AucorProperty
Not es/Assumpt ions
Summary
1. The Basic rent , Escalat ion rat e and t he approximat e area is as ext ract ed from t he execut ed lease agreement .
2. In t erms of t he lease agreement , t he t enant is liable for t he assessment rat es as levied by Council. For t his reason, t he income recovered on a mont hly basis has been added t o t he base rent al income.
3. All amount s represent ed above are exclusive of VAT.
4. The t enant is liable for increases in t he propert y assessment rat es expense, and t he full refuse removal levy (plus a 2% surcharge) billed t o t he Seller's account by Council.
5. Only cont ract ual cash flows have been considered in t he above analysis.
Special Not e - The rent al informat ion in t his brochure is not int ended t o const it ut e specific advice nor t o subst it ut e for a due diligence exercise, and accordingly should not be relied upon t o make a purchase decision. Prospect ive purchasers
should make t heir own enquiries and invest igat ion t o confirm pert inent informat ion and forecast s, and should furt her seek appropriat e independent professional advice in relat ion t heret o from suit ably qualified professionals t o complet e t heir
own due diligence in relat ion t o t he Propert y. Dat e: 2020/04/01 E & OE
Warehouse Facility with Offices – Heriotdale, Johannesburg
www.aucorproperty.co.za
Projected Gross Annual Income –
15Warehouse Facility with Offices – Heriotdale, Johannesburg
Lease Summaries
These lease summaries should not be relied upon in isolation and should be read in conjunction with the executed lease
documents, copies of which are on hand and will be made available to bona fide prospective purchasers upon request.
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Lease 1
Tenant Decoman Warehouse (Pty) Ltd
Rentable Areas (Seller supplied) 2,700m²
Start Date 1 January 2019
Expiry Date 31 December 2022
Renewal Period Not specified
Escalation Rate 8% per annum
Monthly Rental (excl VAT)* From To Basic Rental Basic Rental Gross Rate / m²
01/01/2020 31/12/2020 R 87 480.00 R 32.40
01/01/2021 31/12/2021 2 700 R 94 478.40 R 34.99
01/01/2022 31/12/2022 R 102 036.67 R 37.79
Additional Charges Rates – R570.49 (Increases in the property assessment rates)
Refuse removal – R440.09 (fully levy plus a 2% surcharge per council)
“…the tenant shall be liable for and shall pay any charges arising out of the
use of electricity, water and gas by the tenant in or on the leased
premises...”
/AucorProperty www.aucorproperty.co.za 16Warehouse Facility with Offices – Heriotdale, Johannesburg
Rates Statement
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Rates Statement
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Rates Statement
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Rates Statement
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Zoning Information
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Zoning Information
/AucorProperty www.aucorproperty.co.za 22Warehouse Facility with Offices – Heriotdale, Johannesburg
Zoning Information
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Zoning Information
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Zoning Information
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General Plan Diagram
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