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BP Northcliff - 14th Avenue &, Bagley Terrace, Northcliff, Johannesburg, 2195

Multi-Asset Class Portfolio | Retail | Tender


Investment Highlights

  • Prime location on a busy thoroughfare.
  • Part of a popular convenience hub.
  • R 4 190 739 Net Operating Income for 12 months beginning 1 September 2023.
  • Strong international tenant.
  • Integrated solar system.
  • The property is available for individual purchase or as part of a larger portfolio. Offers for the larger portfolio will receive priority.
  • Oppourtunity to build a drive through KFC.

Location and Access

The property is situated on the corner of Bagley Terrace and Weltevreden Road, a busy arterial thoroughfare connecting Cresta Shopping Centre with Constantia and the N1 Western motorway. It is over the road from two well tenanted convenience centres, Mountainview Centre with a Woolworths anchor directly opposite over Weltevreden Road and L’Corro Centre with Meatworld as anchor across Bagley Avenue. Adjacent to it is a Bosch and Castrol car service centre.

This petrol station, the adjacent convenience centres and the car service centre form a vibrant convenience hub in the centre of the Northcliff and Fairland residential neighbourhoods.

Two entry/exit points from Weltevreden Road provide easy access to both the petrol station and the car wash, while there is a further access point on Bagley Avenue.

Asset Description

The property comprises a 3,822 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 254 m² retail building features a Wild Bean Café and a Pick n Pay Express along with customer and employee amenities. There is a large car wash and waiting area on an elevated portion of the property against the back boundary maintained by a planted retaining wall.

There is an integrated solar system with roof mounted solar panels on the retail building and the bowser canopy.


Tenant GLA (m2) Rate (R/m2) Starts Expires Esc %
BP 3822 88.91 01/01/2014 31/12/2025 8

Tenant Information

Tenant - BP

  • Area: 3 822
  • Lease Term: Expires 2025
  • Rent: 88.91
  • Escalation: 8%

BP is a British multinational oil and gas company headquartered in London, United Kingdom. It is one of the world's largest companies measured by revenues and profits and is considered an oil and gas "supermajor" operating in 80 countries worldwide.

Financial Information

Net Income Forecast (1 Sep 23 – 31 Aug 24) TOTAL
Rental R 4 295 461
Recoveries (Operating Costs) R 733 215
Gross Income R 5 028 676
Operating Expenses R 837 937
Forecast Net Operating Income R 4 190 739

Ownership Structure and Zoning Information

  • Tenant: BP South Africa (Pty) Limited.
  • Registration No. 1924/02602/07.
  • Gross Lettable Area: The tenant leases the total land area of 3,822 m² along with ancillary service station buildings on the property.
  • Lease Type: A fully repairing and maintaining triple net lease.
  • Commencement Date: 1st January 2014.
  • Term: 12 years.
  • Initial Expiry Date: 31st December 2025.
  • Renewals: 1 x 5 years.
  • Escalation Rate: 8.0%.
  • Initial Rental: R 170,000 /month.
  • Current Rental R 339,830 /month.
  • Net Operating Income: R 4,190,739 for 12 months beginning 1 September 2023.
  • Right of Refusal: The tenant has the first right of refusal to purchase the property on the same terms and conditions, for 30 days after notification of the offer.


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 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

Contact Fabio

Henry Playne

Transaction Advisor

Contact Henry