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Shoprite Orkney - 9 Kingsley Road, Orkney, 2619, South Africa

Multi-Asset Class Portfolio | Vendre au détail | Soumissionner


Investment Highlights

  • Strong national tenants – Shoprite
  • Established destination location in central Orkney, North West Province
  • R 3 435 569 Net Operating Income for 12 months beginning 1 September 2023
  • Local catchment area provides for strong trading density

Location and Access

The subject property is located on Kingsley Road in Orkney, North West province adjacent to the local Municipality and the town council buildings. Kingsley Road dissects central Orkney and acts as one of the busy corridors through which motorists, taxis and foot traffic navigate the Orkney CBD. The central location and public transport/taxi availability make the property ideally positioned for the densely populated greater Orkney catchment area. The property enjoys excellent visibility with easy access from Kingsley Road, which also provides customer parking.

Asset Description

The building comprises two levels with the ground floor of 2,030 m let to Shoprite. The second floor consists of 22 apartments and storage, bathroom, and management office facilities for Shoprite. The property is well maintained and boasts high levels of security creating a calm refuge within the bustling city centre. Both visibility and access are excellent, helping identify the building as a standout destination within its local setting.

Largest tenants by income

Tenant GLA (m2) Rate (R/m2) Starts Expires Esc %
Shoprite 2 030 123.76 01/04/2020 31/03/2030 6.0
MAFADI 1st Floor 37 500.00/mth Renegotiated annually Renegotiated annually N/A

Tenant Information

Shoprite is the largest South African retailer by market capitalisation, sales, profit and number of employees and customers. They specialize in grocery stores selling produce and household items.

Mafadi are the managing for all the 22 residential units present on the subject property. Each tenant has their own lease. For access to the current rent roll, please sign our NDA and request document access.

Financial Information

Net Income Forecast (1 Sep 23 – 31 Aug 24) TOTAL
Rental R 3,275,627.48
Recoveries (Operating Costs) R 570,405.59
Gross Income R 3 846 033.07
Operating Expenses R 410,463.76
Forecast Net Operating Income R 3,435,569

Ownership Structure and Zoning Information

Ownership Details
Registered Owner Perele Investments (Pty) Ltd
Registration No. 2014/034196/07
Legal Description ERF 2836, Orkney Township, The Province of North West
Land Area 1784 Square Meters
Title Deed No T13296/2020
Tenure Freehold
Municipal Authority Dr Kenneth Kaunda District Municipality
Address Orkney Complex, 9 Kingsley Rd, Orkney, 2619


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


Henry Playne at


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

Contact Fabio

Henry Playne

Transaction Advisor

Contact Henry