Property description

An income-producing office in one of Johannesburg's most consistent commercial pockets, let to 2031 on an escalating lease.

Unit 19 at The Workshop is a 291m² first-floor office in Parktown North, between Rosebank and the Parkhurst strip, with easy access to Jan Smuts and Oxford Road. The building is secure, access-controlled, and fibre-connected.

The numbers, in full.

The unit is let to an established media and events agency on a five-year lease running from 1 October 2026 to 30 September 2031, at a gross monthly rental of R47,245 excluding VAT, escalating at 8% annually. That is R566,940 in the first year, rising every year of the term.

Owner's costs are the body corporate levy of R9,173.53 a month, including the reserve fund and CSOS contribution, and the municipal account of R9,464.86 a month covering rates and the city cleaning levy. Electricity is prepaid and carried by the tenant.

That leaves a net operating income of R343,279 in year one - a net yield of 8.38% at the asking price, on a gross of 13.84%, with the escalation improving it every year to 2031.

The City of Johannesburg values this unit at R4,370,000 on the current roll. The asking price is R275,000 below the municipal value, and anyone can verify that figure on the City's portal.

What you are buying. A tenant already in occupation, a fit-out already done at the tenant's cost, a five-year term with four and a half years still to run, and eleven parking bays - generous for 291m² and the thing that makes a building like this let again when the term ends.

The price excludes VAT. The seller is a registered VAT vendor, and where the purchaser is also a registered vendor the sale may qualify for zero-rating as a going concern, with no transfer duty payable.

Viewing strictly by appointment with the tenant in occupation.