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R 6 905 520 | office property for sale in umhlanga

Property Description

Ridge 7 is a office development marketed by Wakefields Gateway, its co-development at cost methodology and will provide 7 700 sqm of primly located premium grade office space in Tongaat Hullett Developments new Ridgeside Office Estate in Umhlanga, Durban. This development will enjoy panoramic sea views from all office levels and will be sold at cost to its investor base and end user purchasers. We are now offering the remaining Ridge 7 office suites for sale on a co-development at cost basis. The selling price will be in a range of R25,500 sqm to R26,500 sqm plus VAT with deposits being calculated on the higher of the two figures and where cost savings are effected, refunds will be made to shareholders as has been the case on most of our previous Co-Developments. The deposit will be 34,2% where the investor will contribute a short term equity loan of 4.2% which will be refunded to the shareholder as soon as the VAT refund has been paid back by SARS to the development company. This price includes for parking but excludes stores which are listed in the feasibility study and are all currently available. We strongly recommend that your client should take storeroom/s as there is always a big demand for storerooms in these types of multi tenanted office blocks. Occ. July 2019

Property Details

Purchase PriceR 6 905 520

Building Size271 m2

Price Per SQMR 25481 m2

Type of PropertyOffice


Land Size8652 m2

Last Updated22 May 2020

External Features

Open Parking Bays10

General Features


Property Location

AddressRidgeside Umhlanga, Umhlanga, Umhlanga, KWAZULU-NATAL, South Africa

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