8
Lease Details
The property is currently leased to the Provincial Government of KwaZulu-Natal, providing purchasers with an established government tenant and existing income stream.
Lease period
1 June 2026 – 31 May 2028
Escalation
7%
Monthly rental : 3327m² (excl. Vat)
R 517 933.50
Monthly rental : 45 undercover parking bays (excl. Vat)
R 31 297.50
The existing government tenancy provides a secure investment profile supported by a high-quality covenant.
Period
Total Lease amount
01.06.2026 – 31.05.2027
01.06.2027 – 31.05.2028
Months
12
12
Escalation
0%
7%
Rental /month @ R160.50 x 3327m² (excl. vat)
R 517,933.50
R 554,188.85
Rental/month: 45 undercover parking bays @ 695.50 (excl. vat)
R 31 297.50
R 33,488.33
Total rental
R 549 231.00
R 587,677.18
Total Rental/month (incl. vat)
R 631 615.65
R 675,828.76
Total rental/year (incl. vat)
R 7,579,387.80
R 8,109,945.12
R 15 689 332.92
Development Potential
The portfolio offers exceptional long-term investment flexibility through a combination of existing income and favorable zoning across the various properties.
The zoning certificates confirm: • 212 Langalibalele Street is zoned Core Mixed Use 1 , permitting a wide range of commercial, retail, office, hospitality, residential and mixed-use developments, subject to the provisions of the Msunduzi Land Use Scheme. • 20 Club Lane is zoned Municipal & Government , making it ideally suited to government, institutional and civic uses while supporting associated facilities. This combination of strategic CBD locations, multiple zoning classifications, established government occupation and significant development flexibility creates an exceptional opportunity for institutional investors, owner-occupiers and property funds seeking a landmark commercial asset with strong long-term growth potential.
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