Buy To Let

ONCE ONLY

INVESTMENT PROPERTY BUSINESS OPPORTUNITY

ROOSSENEKAL

MPUMALANGA PROVINCE, SOUTH AFRICA

R 1,600,000

(No Agents, No Commission, Negotiable for CASH Buyer)

Searching for a good income generating property investment business opportunity, then make sure to have a look at this complex comprising of 5 Simplex Residential Units located in the small town of Roossenekal, in Mpumalanga, between Groblersdal (69km) and Lydenburg (66km) and falls within the Greater Roossenekal area, which incorporates the Roossendal, Draaikraal, Tonteldoos, Laersdrif, Staapberg, Rooikraal, and Wapaaskloofd communities.

Roossenekal is a small rural town in the Mpumalanga province of South Africa, situated 89 km north of Middelburg, 280 km East of the Johannesburg/Pretoria Metropolis, only 35km north of Dullstroom, and 27 km south of the new 330 million cubic meter De Hoop Dam development.

Roossenekal is also in the centre of the recently discovered Platinum belt. It is believed that the discovery of Platinum will result in a significant population increase in this town and the surrounding areas, which will lead to it becoming a fast developing area. The mines in the Steelpoort and Burgersfort area and, towns, cities and businesses in and around Roosenekal can be easily accessed via the well planned network of the major roads in place.

This property comprises a block of 5 simplex flats, in the centre of the town, of which 4 have two bedrooms and 1 has one bedroom, located on a corner stand with access from both streets. The units vary in extent, and each flat has its own private garden. Two of the units offer garages, with the other three having covered parking in the form of shade ports. The development is located close to the northern boundary with the rest of the stand being undeveloped. It is a rectangular shaped stand with a moderate slope from west to east. The property will be ideal for further development as the current development comprises only 678 m2 of the total 3432 m2 of the stand. There are also already approved plans available for the site. The current owner receives a steady gross rental income of approximately R12000 per month, from the property, due to a very low (2%) tenant turn-around and non-payment of rentals, most probably because most of the tenants are companies who rent the flats for their employees. Residential accommodation, to lease, is very limited in Roossenekal, and there is therefore a very lucrative opportunity to increase the rental income substantially should the rest of the land be developed. The current owner has an 8% escalation clause in her rental contracts, but it has not been enforced to the tee.

The owner does not stay on the property since she got married a while ago, but she has a very trustworthy caretaker looking after the property for her. The development comprises of facebrick walls with pitched, tiled roofs and is in an outstandingly good condition.

For more information

Contact Hester (082 469 0043)