Commercial Investment Opportunity, Hotel For Sale in Pretoria that can be converted to Student Accommodation / Residential Development Featured


410 Frances Baard Street Pretoria South Africa

Type
Commercial Listing
For Sale
Bedrooms
Bathrooms
Area

About

This is an excellent Investment Opportunity! This Hotel is currently For Sale in Pretoria and can be converted to Student Accommodation / Residential Development.

The subject property comprises two interlinked buildings hosting three elements of the property namely a hotel, conference and a separately let retail section. The two interlinked buildings compromise the iconic 8-storey cylindrical hotel building with a retail ground floor and a 3-storey rectangular conference and hotel building.

The hotel comprises a total of 56 en-suite rooms with kitchenettes (approximately 40 sqm – 100 sqm) spread over the two interlinking buildings as well as a Penthouse suite and a Presidential suite on the top floor of the cylindrical building. Hotel facilities include a reception lobby, dining room/ lounge (+/- 100-seater), hotel kitchen, laundry, management offices and storerooms. Ancillary features include a swimming pool and gym (with change rooms and saunas).

The conference facilities can accommodate +/- 800 delegates in total. These facilities are spread between the ground floor and the 2nd floor of the 3-storey building. The ground floor comprises a conference reception, a large conference hall that can be subdivided into 3 rooms (concertina dividers), and a kitchen. The secons floor hosts a smaller conference room.

The retail section is +/- 749sqm and situated on the ground floor facing both Schoeman / Francis Baard Street and Du Toit Street. This shop is installed to Vodashop requirements.

Additional building features include a boomed ramp to the parking and a roller shuttered goods receiving area.

This landmark property site is situated on the corner of Schoeman Street and DuToit Street in Arcadia, Pretoria. Schoeman street is a one-way street traveling east linking Pretoria CBD to Arcadia and onwards to Hatfield. Du Toit street is a two-way (north/south) street. The nearby Nelson Mandela Drive is a major arterial linking Pretoria CBD and Johannesburg. The immediate area is characterized by low-rise commercial buildings and apartment blocks. Various governmental agencies are located in the general area with the Department of Trade and Industry being the nearest major agency.

Multi-storey landmark property characterized by its cylindrical design.

Prominent neighbours include the newly refurbished Mediclinic Medforum, the Union Buildings, DTI and a host of other Government buildings.

Located within close aproximity to UNISA (2.9km) and The University of Pretoria (4.9km)

Currently let to a 3 Star Hotel – The Collosseum.

Includes 56 rooms plus a penthouse and a presidential suite (approximately40 sqm – 100 sqm)

Covered parking, rooftop pool, 100-seater restaurant, board rooms and conference rooms

Ground floor retail on street level measuring an approximate gross lettable area of 749 sqm

An outstanding residential or student accommodation conversion opportunity (Rooms include an en-suite bathroom and a kitchenette)

Uses:                       Hotel with conference rooms and ground floor retail shops.

Construction:          Painted plaster and granular stone tiles under mostly waterproof concrete.

Storeys:                  From 3-8 storeys.

Floor Coverage:     A combination of types with common areas mostly ceramic tile, conference

rooms having carpet and hotel rooms having carpet.

Elevator:                Kone-rated 900kg/12 persons.

Generators:           2 Generators installed and integrated with the electrical system.

Air-conditioning:  Various wall mounted, and cassette units are installed.

CCTV:                    Installed

Parking:                 45 bays – 23 under cover and 18 shade net

Condition:             The building requires on-going maintenance and repairs. Owners have not

undertaken a structural survey, nor have they arranged for test or

inspections of the service installations, however, these appear to be sound

and in working order.

Under Roof:                  5753m

Property Size:               2554

Zoning:                          General Business

Zoning Description:    Hotel, shops and conference facilities

Schedule of Development rights:

Item Permitted Provided
Height Zone 3:25m Hotel, shops, conference facilities
Floor Area Ratio Zone 3:4 2.26
Coverage Zone 3:92% 90.2% (68% excl. parking deck)
Building Lines No restriction Existing building set back unchanged
Parking 40 required 46 provided

 

 

 

Details

Type: Commercial Listing For Sale

Price: R80,500,000

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Total Payable in 24 Years

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80

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Interest

40%

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