A COMMERCIAL BUILDING AT PALLIYAWATTE ROAD-HENDALA-WATTALA-FOR SALE

LOCATION

From Colombo Fort along Colombo - Kandy 'A1' highway just pass the Kelaniya bridge, to the left is Peliyagoda Puttalam 'A3' highway. Along 'A3' highway about 3.1 k.m. away, to the left is Hekitta Road. On Hekitta Road about 1.9 k.m. away, to the left is Palliyawatta Road (Lakmeni Mawatha). On Palliyawatta Road about 800 metres away, the subject property is situated on the right hand side. It is approx. 1.7 k.m. to Elakanda, 2.7 k.m. to Wattala Market Junction and 12.8 k.m. to Colombo Fort from the subject property. Buses on route No. 107 & 260 ply on Hekitta Road.

DESCRIPTION

The surrounding properties are mainly used for the residential purpose, except for a few that are used for other activities. Most of the residents are regular income earners from public and private sector employment. The infrastructure facilities are satisfactorily improved and further improvements are underway. The nearest commercial centre is Elakanda which provides all basic urban facilities and services. Further facilities can be obtained from Wattala and even from Colombo city which has got closer in view of the new Kelani Bridge. A fair number of environment friendly small and medium scale industries are found in this area. Schools, places of religious worship and other basic service centres are in close proximity. Considering the location, available facilities and other relevant factors, the present property values are bound to continue further.

Street Line & Building Limit:

The subject property is not affected by the street line. The building limit is 25 feet from the centre of Palliyawatta Road. The existing buildings are outside the building limit.

Public Amenities:

High tension power supply, telephone and water service are available at the site. The P.S., Wattala attends to the garbage disposal.

Floods & Soil Erosion:

It is not affected by floods or soil erosion.

Ownership of the property:

The relevant title deed is not available for my perusal to comment on the ownership of the property.

Interest Valued:

Unencumbered freehold interest in the property.

Description of the Property: (Land)

(Both lots together)

Shape Triangular shaped. Road frontage Fronts Palliyawatta Road on the eastern and southern boundaries.

Lie Flat.

Soil Loamy, brownish and firm. Water level About 10-15 feet deep. Vegetation There are one each of king-coconut, nelli, sapodilla and few other trees at the site.

Buildings:

There are 3 buildings within the site.

Building No. 1 Factory. Two storeyed.

Upper Floor

Plinth area 2070 sq.ft. Roof & Roof framework Asbestos sheet roof on sawn timber framework.

Ceiling/Valance, etc. Wooden ceiling. Valance board, gutters and down pipes are fixed. Walls Brick walls on RCC slab. Plastered and colour washed. Floor Cemented. Verandah floor is tiled. Windows & Doors Aluminum framed sliding glazed windows and glazed windows. Plush panelled doors. Toilet Equipped with necessary sanitary fittings. Walls and floor are tiled. Balcony / Terrace Protected.

Stairway RCC stairway with tiled steps.

Ground Floor

Plinth area 2070 sq.ft. Soffit RCC slab on RCC beams, columns and base.

Valance, etc. Gutters and down pipes are fixed. Walls Brick walls on RCC and rubble foundation. Plastered and color washed. Floor Tiled. Windows & Doors Aluminum framed sliding glazed windows secured with iron grills. Aluminum framed glazed doors and plywood doors. Pavement & surface drains Built.

Building No.1 (Contd.)

Age & Condition About 12 years old and in good condition.

Accommodation U/F Three bedrooms, dining, living, two toilets, terrace and verandah. G/F - Workshop, office and store.

Conveniences Electricity, telephone, water service, wooden ceiling (U/F), tiled floor (G/F and U/F part), pantry cupboards, air conditioning (G/F), ceiling fans and attached toilets. ::

Building No.2 Generator Room

Plinth area 242 sq.ft.

Roof & Roof framework Asbestos sheet roof on sawn timber framework.

Valance, etc. Valance board is fixed.

Walls Brick walls on rubble foundation. Plastered and lime washed.

Floor Concreted and cement rendered.

Windows & Doors Roller shutter door.

Timber Used Class I.

Age & Condition About 12 years old and in good condition.

Accommodation Generator room.

Conveniences Electricity.

Building No.3 Two storied.

Upper Floor

Plinth area 384 sq.ft.

Roof & Roof framework Asbestos sheet roof on sawn timber frame work.

Ceiling/Valance, etc. Asbestos ceiling. Valance board, gutters and down pipes are fixed.

Walls Cement block walls on RCC slab. Color washed.

Floor Cemented.

Windows & Doors Aluminum framed glazed window and plywood door.

Stair way RCC stairway.

Building No.3 (Cont.)

Ground Floor

Plinth area 3384 sq.ft.

Soffit/Roof RCC slab on RCC beams columns and base. Major portion is with asbestos sheet roof on wooden framework.

Ceiling/Valance, etc. Asbestos ceiling. Valance board, gutters and down pipes fixed.

Walls Brick and cerent block walls on RCC and rubble foundation. Plastered and colour washed.

Floor Cemented.

Windows & Doors Glazed windows secured with iron grills and aluminum framed sliding glazed windows. Plush panelled & glazed doors, plush panelled doors and aluminum framed glazed door.

Water closets Walls and floor are tiled.

Age & Condition About 30 years old and in good condition. Two storeyed section is about 10 years old.

Accommodation U/F - Record room. G/F - Office, three roons, store, garage, dining, living, pantry and three rooms.

Conveniences Electricity, water service, asbestos ceiling, ceiling fans and two water closets.

Other Constructions and facilities:

Electric transformer (with CEB room)

• Stand by generator • Boundary wall • Overhead tank • E Guard room

• Open rest room

VALUATION

AREA PERCH VALUE PER PERCH TOTAL

Land 50.65 1,400,000 71,000,000

Building 8150 SQFT 5000 SQFT 40,750,000

TOTAL 111,750,000