Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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WH Auctioneers Properties (PTY) Ltd

578 16th Road, Randjespark, Midrand

Tel: 0115745700

www.whauctions.com

PROPERTY FOR SALE

STUDENT ACCOMMODATION

84 BEDS - 21 FLATS – Pendlebury Building

Lorentzville Johannesburg

73 Gordon Road, Lorentzville, Johannesburg

Erf 73, 74 and 75, Lorentzville, Johannesburg

Contact for further info:

Daniel Pelkowitz Cell: 072 360 7510

Email: danielp@whauctions.com

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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1. GENERAL

Property Address: 73 Gordon Road, Lorentzville, Johannesburg

Erf & Suburb & City: Erven 73, 74 and 75, Lorentzville, Johannesburg, Gauteng

Building Name: Pendlebury Student Building

2. TITLE DEED INFORMATION

Deeds Office: Johannesburg

Title Deed No.: T43626/2008

Erf Sizes: Erf 73: 447m2

Erf 74: 447m2

Erf 75: 447m2

TOTAL: 1 341m2

Zoning: Residential 4

Building Age: Approx. 70 Years

3. LOCALITY

Lorentzville is a suburb of Johannesburg, South Africa. It is a small suburb found on the eastern edge of the

Johannesburg central business district (CBD), tucked between the suburbs of Bertrams and Judith's Paarl, with

Troyeville to the south. It is located in Region F of the City of Johannesburg Metropolitan Municipality.

The property is located just 1.3km away from the University of Johannesburg Doornfontein Campus.

The GPS co-ordinates for the property is as follows:

S - 26°18'98.22"

E - 28°06'94.32"

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 3

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 4

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 5

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 6

4. DESCRIPTION OF IMPROVEMENTS

The subject property consists of a 4-storey residential block of apartments. The building comprises 21 apartments

and 3 rooms. The building is utilised as accredited student accommodation with a total of 84 beds.

The façade of the building comprises face-brick as well as plastered and painted brickwork. Access to the floors is

gained via internal staircases. Internal passages are power floated and painted concrete as well as stone tiles. All

windows have steel window frames.

The flats can be broken down as follows:

- 19 X Two-bedroom flats – 4 Sleeper Units

- 2 X Three-bedroom flats – 6 Sleeper Units

- 3 X Rooms

All of the units are finished in a similar fashion and have very large bedrooms and living areas. Each unit has beds,

a separate kitchen and a bathroom and toilet. Bedrooms have built in cupboards and study desks. Kitchens are

equipped with built in cupboards, stoves, microwaves and fridges. Each unit has as security gates and burglar

bars. Internal floors consist of ceramic tiles, walls are plastered and painted brickwork while ceilings are painted

concrete. Some of the units have enclosed balconies.

The 3 rooms are located on the roof and are occupied by on-site staff members. The units have communal

bathrooms and toilets.

Historically the building has always been in high demand and rarely has vacancy.

STUDENT ACCOMMODATION

The building is fully accredited for student accommodation with the University of Johannesburg. Attached below

is a copy of the approved accreditation. The contract began in 2018 and is a 3-year contract. Student

accommodation is in very high demand due to the massive shortage of quality accommodation.

As mentioned above, there are 4 sharing and 6 sharing unit in the building. There a=is also the option for a

student to have their own room for which they pay a higher price per bed.

Parking

There are 15 open bay air parking bays and 3 garage parking bays basement parking bays available on site. There

is also dedicated street front parking. Open bays are rented for R150/month and garages are rented for

R300/month.

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 7

Site Access and Security

Full access control systems are in place. Access to the property is gained through a walk-in security turnstile

which is manned by 24hr security. Access tags are used in order to operate the turnstile.

Services

Each unit has its own pre-paid electricity metre. The metres are kept separately by the owners with only the key

pads located in the flats. This prevents metres from being tampered with. Electricity is managed by Enbaya.

Students are given a monthly allowance for electricity as per student accommodation regulations.

Each unit has its own geyser.

Each shop is supplied with 3 phase electricity.

The building is supplied by borehole water. In case of emergencies, there is a switch over valve so that the

building can be connected to municipal water if needs be. This is a massive saving in terms of water costs. The

borehole system is complete with a filtration system to make sure the water is drinkable.

The roof is corrugated steel sheeting and appears to be in a good condition.

All fire equipment is in place and appears to be in working order and regularly serviced. The building as well as

every single room has been fitted with an addressable fire detection system complete with heat sensors and

smoke detectors. There are also break glasses throughout the building.

There is a communal kitchen as well as a communal TV room if the students wish to make use of same. The

building also has a WIFI system. Washing lines are provided for all students as well as a communal laundry.

There is an on-site caretaker as well as cleaners. The building is kept in excellent condition and is very clean.

Summary

Roof: Waterproof concrete slab

External Walls: Face brick and Plastered and Painted Brickwork

Internal Walls: Face brick, plastered and painted.

External Floors: Tiles/Tar/Concrete/Paved walkways

Internal floors: Tiled/Parquet Flooring

Condition: The building appears to be in a good condition and is maintained well by the owners.

Renovations to flats take place as and when tenants vacate. There is no evidence of roof leaks

or structural damage. The building is kept very clean and neat and is serviced. All maintenance

and upkeep is managed by the owners directly. A structural and damp survey of the building

has not been undertaken and will not form part of this report. All structural and

maintenance information are as per information provided by the owners upon visiting the

site.

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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5. FINANCIAL INFORMATION

As per the rent rolls and rental statements attached below, tenants are billed monthly for rental and parking.

Electricity is pre-paid and water is supplied by a borehole and therefore not charged.

There are pre-paid electricity meters in every unit which are monitored off-site by a company called Enbaya pre-

paid.

RENTAL:

Sharing Room Rentals: R2 018.35 per bed (Excl. VAT on 60% of Rental)

Private Rooms: R2 752.29 per bed (Excl. VAT on 60% of Rental) – only 2 singles in the building

Parking: Open bays are rented for R150/month and garages are rented for R300/month.

Owners are responsible for maintenance, rates and taxes and insurance.

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise

stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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RENT ROLL/TENANCY SCHEDULE

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise

stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 10

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise

stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 11

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise

stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 12

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 13

6. INCOME STATEMENT

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 14

7. SITE PICTURES

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 15

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 16

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 17

8. SITE LAYOUT AND UNIT BREAKDOWN

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 18

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 19

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 20

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 21

9. BUILDING PLANS

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 22

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 23

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 24

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 25

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 26

10. MUNICIPAL ACCOUNTS

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 27

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 28

11. ZONING INFORMATION

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 29

12. ACCREDITATION FOR STUDENT ACCOMMODATION

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 30

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 31

13. OCCUPANCY CERTIFICATE

Student Accommodation - Block of 84 Student Beds, Lorentzville

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all

sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

Page | 32