Pictured here is John Witter (CEO) with Kate Hogarth and Teresa Cook (all of Horizon Capital), together with Lindy Lewis (of Biff Lewis Geomatics) and Dave Barnett, one of Horizon Capital’s High Net Worth clients. They are pictured outside an office unit in Waverley Business Park in Mowbray, the latest addition to Dave’s portfolio of directly-owned commercial properties. The purchase was concluded at a 10.5% net yield.
Horizon Capital undertakes a thorough due diligence investigation of each property before concluding a transaction. Horizon employs Land Surveyors, Biff Lewis Geomatics, to inspect and measure the premises, to ensure that Horizon Capital’s clients get what they pay for, the actual size is correctly recorded in the Deeds Office, the registered plans are correct and that the property complies with building regulations. Other aspects of the due diligence investigations include assessing the property expenses, body corporate financials, leases, credit-worthiness of the tenants and steady historic payment of rentals.
The property has a 3 year lease and by purchasing a tenanted unit, the upfront costs of letting commission and tenant installation, and the risk of not letting the unit in good time, were eliminated. The office also comes with a generous ratio of almost 4 bays per 100sqm. The complex is ideally situated for good highway access and is expected to let easily in the future.
Horizon Capital’s objective is the long term creation of wealth for its clients through an opportunistic and value-based approach to the acquisition and management of commercial property. Should you be interested in investing directly in commercial property in Cape Town, contact John Witter on 021 425 8586.