Multi-Asset Class Portfolio | Retail | Tender
The subject property is located along Pretoria Main Road, the main transport route dissecting Wynberg and Alexandra, an industrial area on the periphery of Sandton. The property enjoys excellent visibility and is easily accessible from both 1st Avenue and Chadwick Avenue. Pretoria Main Road is a major arterial route that connects Wynberg with multiple surrounding suburbs. Quick access to the N1 from the supporting road network provides an easy commute to the Johannesburg city centre and Sandton, while 1st Avenue provides easy access to nearby residential neighbourhoods such as Alexandra and Kew. The large population in the properties direct catchment makes for an ideally placed location with excellent visibility and access.
The building features 3 336 sqm of lettable area, all fully tenanted. The property is well maintained and boasts excellent levels of internal finishing, cultivating a welcoming environment for potential clients. Parking is found on 1st Avenue, with access to additional parking up a large ramp to the second level of the building. The second level retail includes a carwash and store fronts to several of the tenants including AvBob. The anchor tenant (Boxer superstores) occupies the majority of the ground floor along with its accompanying Boxer liquor store. Several ATM’s have been added to the building. Both visibility and access are excellent. The roof is covered with a large solar array providing backup power.
|Name||GLA (m2)||GLA %||Expiry Date||Annual Rental (R)||Rate (R/m2)||% Income|
|SA Post Office||345||10.34||31/08/2022||507,163||122.57||9.40|
Boxer Superstores are a chain of large grocery and supplies stores. Boxer is a national brand with a portfolio of over 280 stores nationwide.
Boxer Liquor is a chain of liquor stores usually accompanying a Boxer Superstore. They specialize in liquor stores which target densely populated areas providing spirits and other alcoholic beverages.
AvBob is Africa's largest mutual assistance society, providing funeral and burial services.
The South African Post Office is the national postal service of South Africa. Legally the Post Office is the only entity that is permitted to take in reserved mail.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 5 871 832|
|Recoveries (Operating Costs)||R 3 243 260|
|Gross Income||R 9 115 092|
|Operating Expenses||R 4 169 434|
|Forecast Net Operating Income||R 4 945 658|
|Registered Owner||Tali Minah Properties CC|
|Legal Description||Portion 1 of ERF 494, Wynberg Township, Gauteng Province|
|Land Area||3970 Square Meters|
|Title Deed No||T40081/2010|
|Municipal Authority||City of Johannesburg|
|Address||1st Avenue & Chadwick Avenue, Wynberg, Sandton, Gauteng, 2090, South Africa|
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 email@example.com
Henry Playne at firstname.lastname@example.org
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