KCIP SECTION 3 – INVESTMENT SALES
Section 3 at the Kingsburgh Commercial-Industrial Park is a 4,831 m² level site, with easy access and full planning permission, for the construction of four warehouse/factory units. The unit sizes are:
- Unit 3A 672 m²
- Unit 3B 672 m²
- Unit 3C 630 m²
- Unit 3D 540 m²
It is intended that the development will be completed by November 2020, with sales off-plan. The selling prices for each unit, reviewed with the expected rental income, ensures a net 10% Return of Investment; before annual price escalation. This applies a monthly rental rate of R 70/m², which is below market expectancy.
Section 3 Pricing Download
Purchasers will pay a 10% deposit and provide an irrevocable guarantee from a leading financial institution; within period explicated in the sales agreement. 40% will be payable at certified roof completion. The balance of payment is due on transfer.
There will be an agreed program for delivery of the project. An independent agent will be appointed to oversee the works delivery. There will be a strict penalty applied for each day past the contractual delivery date, which the developer fails to complete the works.
The developer will provide a rental guarantee to each purchaser, ensuring that prior to completion of the works, each unit will have a rental agreement secured with a suitably qualified tenant. In the event that the developer fails to secure such a rental agreement for any unit; the developer shall pay a penalty equal to 10% of the purchase price ex VAT.
Drawings related to Site 3: