Multi-Asset Class Portfolio | Retail | Tender
The subject property is located along Mabalane Street, which serves as the main transportation route through Senaoane, a prominent residential neighbourhood located in central Soweto. The property benefits from its prime location with great visibility and convenient access from the front side, facing Mabalane Street. This thoroughfare serves as a significant artery that links the Dlamini precinct to several surrounding suburbs, including Mapetla and central Moroka. Additionally, the M68 is easily accessible from Mabalane Street, providing a seamless commute to central Soweto and the N12 offramp. Given its strategic location, the property enjoys a substantial catchment population with excellent visibility and access.
The building is well-maintained and boasts exceptional levels of internal finishing, creating an inviting atmosphere for prospective clients. Parking is available on the front side of the building along Mabalane Street. Delivery access is situated on the side of the building, where a large antenna is located. The primary structure of the building is occupied mainly by the Boxer and OBC stores, with several permanent and temporary ATMs positioned at the entrance of the Boxer and Boxer liquor. To the right-hand side of the primary building, there is a large drive-through KFC. The property enjoys outstanding visibility and accessibility. Additionally, the roof features a large solar array, providing backup power.
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.
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.
OBC Chicken and Meat was established in 1987 and currently trades through a national network of over 50 stores throughout most regions of South Africa.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 3 205 459|
|Recoveries (Operating Costs)||R 1 975 035|
|Gross Income||R 5 180 494|
|Operating Expenses||R 3 176 573|
|Forecast Net Operating Income||R 2 003 921|
|Registered Owner||The BUFFSHELF 38 Trust|
|Legal Description||ERF 1930, Senaoane Township, Province of Gauteng|
|Land Area||7670 m2|
|Title Deed No||T12616/2011|
|Municipal Authority||City of Johannesburg|
|Address||Corner of Mabalane &, Komati St, Senaoane, Soweto, 1818|
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 15th June 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