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Buco, Salt River - 9 Brickfield Rd, Salt River, Cape Town

Multi-Asset Class Portfolio | Venta minorista | Oferta


Investment Highlights

  • A strong national tenant – BUCO, a building material and supplies retailer located throughout South Africa.
  • Established destination location in Salt River, Cape Town.
  • R 5 376 528 Net Operating Income for 12 months beginning 1 September 2023.
  • Three years to run on an initial ten year lease.
  • Solar opportunity for backup power given the large surface area of the roof.
  • Redevelopment opportunity given the sites location and size.

Location and Access

The property is situated in the Salt River precinct between Brickfield Road at the front of the building, and Pickwick Road at the rear. The property is one erven back from the M4 in Cape Town, with the M4 acting as the main transport link to Woodstock, with the CBD to the west and Observatory to the east. There is easy access along the M4 to the N2, and the resulting network of motorways including access to the port and Cape Town CBD. The greater catchment area consists of a large residential population, the commercial district, Harbour district, and smaller industrial nodes.

Asset Description

The building comprises 5,251 square metres of net lettable area over two levels. It has been refurbished to the tenants’ specifications providing retail and related workspace on the ground floor, with a large incoming goods yard on Pickwick Road. Parking, office, and other amenities are provided on the first floor with entrance up a ramp from Brickfield Road. Customer access is from Brickfield Road where there is street parking and two carparks.


Tenant GLA (m2) Rate (R/m2) Starts Expires Esc %
Buco City 5 251 81.76 01/05/2016 30/04/2026 6

Tenant Information

Buco, or the “Building Company” is a South African company focused on selling building materials and associated products including hardware, electrical and plumbing products directly to mainly cash paying customers. Buco is owned by the same holding company as Timber City and is visible in many Buco retail stores.

Financial Information

Net Income Forecast (1 Sept 23 – 31 Aug 24) TOTAL
Rental R 5 570 405
Recoveries (Operating Costs) R 951 451
Gross Income R 6 521 856
Operating Expenses R 1 145 328
Forecast Net Operating Income R 5 376 528

Ownership Structure and Zoning Information

Ownership Details
Registered Owner Perele Investments (Pty) Ltd
Registration No. 2014/034196/07
Legal Description RE Erf 13753, Cape Town, in the City of Cape Town, Cape Division, Province of the Western Cape
Land Area 5,251 square metres in extent
Title Deed No T38360/2020
Tenure Freehold
Municipal Authority City of Cape Town

Zoning Information
Address 1 Brickfield Road, Salt River, Cape Town
Zoning Mixed Use, Sub Zone 2
Height 25 m
Coverage 100%
Floor Area Ratio (FAR) 4.0


The seller is registered for VAT (Value Added Tax). All offers will be exclusive of VAT at a rate of 0%.

Sales Process

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.

  • Purchase Price for the Property, based on the Net Operating Income and an acquisition yield;
  • A description of your company as the proposed purchaser and a reference list of similar retail transactions completed;
  • Evidence of the prospective purchaser’s financial ability to complete the transaction, including the method of financing the purchase;
  • Terms and conditions of closing;
  • Schedule of timing and events to complete closing;
  • A summary of all internal and external consents required to proceed with the contemplated transaction and a list of any other conditions to signing and completion;
  • A completed LOI, in the format provided by the seller; and
  • FICA documentation for the Purchaser.

Submission Date

Interested parties are invited to provide their offers to:

Fabio Nava at fabio.nava@cbreexcellerate.com


Henry Playne at henryplayne@qando.co.za


Exclusive Advisor

All communications regarding the Sale Process and/or the Property should be directed to the Seller’s exclusive Advisors:

Fabio Nava

+27 82 585 2498


Henry Playne

+27 72 763 4090


Map Details

Transaction Advisor

Fabio Nava

Director: Capital Markets - Advisory & Transaction Services

Contacto Fabio

Henry Playne

Transaction Advisor

Contacto Henry