Multi-Asset Class Portfolio | Retail | Tender
The property is situated on the border of the Wynberg industrial precinct and Alexandra township at the corner of Chadwick Avenue and Pretoria Main Road (M11). The M11 is a major arterial thoroughfare connecting Marlboro in the north right through to Parktown in the south and further provides access to the M1 via the Marlboro and Grayston Drive interchanges. It is a high-profile site adjacent to the northern end of Alexandra Plaza which along with the adjacent township makes Pretoria Main Road a high-volume car and taxi route. Two entry/exit points from Chadwick Avenue provide easy access to both the petrol station and the KFC drive through.
The property comprises a 3,718 m² site set up as a petrol station, with a convenience store, ancillary amenities and forecourt. It has been refurbished to the tenants’ specifications providing retail and filling station workspace. The 277 m² retail building features a Fresh Stop and related customer and employee amenities. Attached to the retail building in the back left corner is tire fitment and care centre and adjacent to the petrol station there is a purpose-built KFC drive through which shares the site.
There is a generator and an integrated solar system providing backup power.
|Tenant||GLA (m2)||Rate (R/m2)||Starts||Expires||Esc %|
Astron – Caltex
Astron-Caltex is part of the Chevron Corporation, an American multinational energy corporation, headquartered in San Ramon, California, and active in more than 180 countries. It is one of the largest companies in the world and the second largest oil company based in the United States by revenue, ranking 16th on the Fortune 500 in 2022 with revenues of US$162.5 billion.
KFC (Kentucky Fried Chicken)
KFC is an American fast food restaurant chain headquartered in Louisville, Kentucky, that specializes in fried chicken. It is the world's second-largest restaurant chain with over 27,000 locations globally, in 150 countries. It is South Africa’s largest and most popular QSR (Quick Service Restaurant) chain.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 4 322 643|
|Recoveries (Operating Costs)||R 1 544 753|
|Gross Income||R 5 867 396|
|Operating Expenses||R 1 675 543|
|Forecast Net Operating Income||R 4 191 853|
|Registered Owner||Shimshon Investments (PTY) LTD|
|Legal Description||ERF 60, Wynberg, Gauteng, 2090|
|Land Area||3718 Sqm in extent.|
|Title Deed No||T1648/2011|
|Municipal Authority||City of Johannesburg|
|Address||722 Pretoria Main Rd, Wynberg, Sandton, 2090|
The seller is registered for VAT (Value Added Tax). All offers will be exclusive of VAT at a rate of 0%.
The property is offered for Sale by way of a direct sale of title.
Upon registration and signing the NDA, you will be provided with access to the Stage 1 Due Diligence data room, which will provide you with a full tenant schedule, a 12-month Income and Expense Forecast, a Letter of Intent template (“LOI”) and a full Sale Process Letter including instructions about making a binding LOI.
Interested parties are invited to provide submissions for the property in the form of an LOI due by the deadline date displayed. Submissions should include at a minimum, the information and terms outlined below and the completed LOI provided in the Stage 1 Due Diligence Data Room.
Interested parties are invited to provide their offers to:
Fabio Nava at firstname.lastname@example.org
Henry Playne at email@example.com
BY NO LATER THAN 12H00, THURSDAY 18TH MAY 2023.
All communications regarding the Sale Process and/or the Property should be directed to the Seller’s exclusive Advisors:
+27 82 585 2498
+27 72 763 4090