N$12,995,000 | 470m² Office For Sale in Eros

PROPERTY OVERVIEW
Detail Description
Street Address Erf 1730, C/O 16 General Murtala Muhammed Ave & Valley Hakos Rd
Area Zone D – Eros Park, Windhoek CBD business hub
Zoning Office (Bulk 0.4)
Erf Size 1,155 m²
GLA 470 m² (offices + retail)
Market Value N$ 13,000,000 (Capitalized Income Method)
Municipal Valuation N$ 3,252,400
Condition Modern, upmarket Grade A finishes
Tenancy Ogilvy Namibia (offices) & Spice Corporate Gifts (retail)
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LOCATION
Situated in the heart of Eros Park’s business precinct, Erf 1730 enjoys maximum visibility from two prominent intersections and excellent access to the CBD via Nelson Mandela Avenue, Eros Road, and Olof Palme Street.
Nearby landmarks include:
• Namibia Media Holdings
• MultiChoice Namibia
• MediClinic Private Hospital
• Omuramba Medical Centre
• Joe’s Beerhouse & Roof of Africa Hotel
• Eros Shopping Centre
This corner property benefits from high traffic exposure and proximity to top-tier business, medical, and hospitality facilities.
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PROPERTY DESCRIPTION
Main Improvements (GLA 470 m²)
• Main Offices – Ogilvy Namibia: 171 m²
• Additional Offices & Boardroom – Ogilvy Namibia: 135 m²
• First Floor Offices – Ogilvy Namibia: 79 m²
• Offices & Retail – Spice Corporate Gifts: 85 m²
Minor Improvements & Extras
• Solar Power: 12 panels + 5kVA Kodak inverter
• Security: Alarm system, CCTV, beams, electric fencing, intercom
• Parking: 1 triple carport + 1 double carport
• Other: Balcony deck with adjustable louvre roof, landscaped garden with artificial lawn & drip irrigation, greywater harvesting system (5,000L tank), roofed walkways (137 m²)
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CONSTRUCTION & FINISHES
• Walls: Plastered and painted brickwork (220mm external, 110mm internal)
• Roof: Combination of concrete tiles & IBR sheeting on timber trusses
• Floors: High-quality porcelain tiles, laminate wood flooring, Cemcrete in select areas
• Ceilings: Reinforced concrete slab, seamless cellotex, exposed trusses with roof-lined cellotex
• Lighting: Modern downlights, boxed fluorescent, pendant & spotlights
• Climate: 10 split-unit air conditioners
• Condition: Upgraded, modernized – Grade A standard
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INVESTMENT SUMMARY
Component GLA (m²) Rate/m² (N$) Annual Net Income (N$) Capital Value (N$)
Main Offices – Ogilvy 171 235 415,867 4,807,706
Offices (1st Floor) 79 235 192,125 2,221,104
Offices + Boardroom 135 235 328,316 3,795,557
Offices + Retail 85 235 206,717 2,389,795
TOTAL 470 – 1,143,025 13,000,000
• Capitalization Rate Used: 11.56%
• Average Achievable Rental: N$ 235/m²/month
• Vacancy Allowance: 2%
• Expense Ratio: 12%
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INVESTMENT HIGHLIGHTS
Corner stand in Eros Park’s premium commercial node
Fully tenanted with strong rental income from reputable tenants
High-quality, modern finishes – minimal maintenance required
Solar & water-saving systems reduce operating costs
Secure property with comprehensive access control & CCTV
Parking for staff & visitors
Exposure to high daily traffic volumes
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CONTACT FOR VIEWING
Joubert Balt – Just Property
+264 81 127 2322