On Auction 01 July - SARS-Tenanted Office Investment | New 5-Year Lease | GAI ±R2.62 Million

This double-storey office building is situated on an erf of approximately 1,421m² and comprises a total Gross Lettable Area (GLA) of approximately 2,687m², excluding basement parking areas of approximately 921m².

GLA Breakdown:

• Basement Stores: ±223m²
• Ground Floor Offices: ±1,151m²
• Mezzanine Offices: ±145m²
• First Floor Offices: ±1,168m²
• Total Office GLA: ±2,687m²
• Additional Basement Parking Area: ±921m²

The property is currently occupied by the South African Revenue Service (SARS), which leases the basement stores, basement parking, ground floor and mezzanine levels. The SARS lease has been renewed for a further 5-year term from 01 June 2026 to 31 May 2031, providing a secure annual gross income of approximately R2.62 million per annum.

The vacant first-floor offices presents investors with a significant value-add opportunity through the leasing of the remaining vacant space.

The building offers a practical office configuration and is supported by quality infrastructure, including lift access and a backup generator. Parking facilities comprise approximately 44 basement parking bays, 25 bays currently leased by SARS, and approximately 89 open parking bays, ensuring ample parking provision for tenants and visitors.

Strategically positioned along Graaf Street with convenient access to the R73 (Stateway) and surrounding commercial amenities, the property enjoys excellent accessibility and strong exposure within an established commercial node.

This is an attractive investment opportunity combining secure government-backed income with substantial future rental growth potential.

Contact the broker for a detailed investor information pack.