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Caltex, Wynberg - 722 Pretoria Main Rd, Wynberg, Sandton, 2090, South Africa

Multi-Asset Class Portfolio | Retail | Tender


Investment Highlights

  • Strong international tenants.
  • Excellent high-profile location on main arterial route.
  • R 4 191 853 Net Operating Income for 12 months beginning 1 September 2023.
  • High visibility from Pretoria Main Road, a major transport Artery in Wynberg.
  • Integrated Solar backup energy system on site.
  • Lease expiring 2043.
  • The property is available for individual purchase or as part of a larger portfolio. Offers for the larger portfolio will receive priority.

Location and Access

The property is situated on the border of the Wynberg industrial precinct and Alexandra township at the corner of Chadwick Avenue and Pretoria Main Road (M11). The M11 is a major arterial thoroughfare connecting Marlboro in the north right through to Parktown in the south and further provides access to the M1 via the Marlboro and Grayston Drive interchanges. It is a high-profile site adjacent to the northern end of Alexandra Plaza which along with the adjacent township makes Pretoria Main Road a high-volume car and taxi route. Two entry/exit points from Chadwick Avenue provide easy access to both the petrol station and the KFC drive through.

Asset Description

The property comprises a 3,718 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 277 m² retail building features a Fresh Stop and related customer and employee amenities. Attached to the retail building in the back left corner is tire fitment and care centre and adjacent to the petrol station there is a purpose-built KFC drive through which shares the site.

There is a generator and an integrated solar system providing backup power.


Tenant GLA (m2) Rate (R/m2) Starts Expires Esc %
Caltex 3718 73.18 01/03/2018 28/02/2043 8
KFC 212 245.28 22/12/2022 31/12/2032 6

Tenant Information

  • Anchor Tenant: Chevron South Africa (Pty) Limited
  • Registration No. 1911/01154/07
  • Gross Lettable Area: The tenant leases the total land area of 3,718 m² along with ancillary service station buildings and forecourt on the property
  • Lease Type: A fully repairing and maintaining triple net lease
  • Commencement Date: 1st March 2018
  • Term: 25 years
  • Expiry Date: 28th February 2043
  • Renewals: None
  • Escalation Rate: the greater of 8.0% or CPI
  • Initial Rental: R 200,000 /month
  • Current Rental R 272,098 /month
  • 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

Astron – Caltex

Astron-Caltex is part of the Chevron Corporation, an American multinational energy corporation, headquartered in San Ramon, California, and active in more than 180 countries. It is one of the largest companies in the world and the second largest oil company based in the United States by revenue, ranking 16th on the Fortune 500 in 2022 with revenues of US$162.5 billion.

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.

Financial Information

Net Income Forecast (1 Sep 23 – 31 Aug 24) TOTAL
Rental R 4 322 643
Recoveries (Operating Costs) R 1 544 753
Gross Income R 5 867 396
Operating Expenses R 1 675 543
Forecast Net Operating Income R 4 191 853

Ownership Structure and Zoning Information

Ownership Details
Registered Owner Shimshon Investments (PTY) LTD
Registration No. 2014/083226/07
Legal Description ERF 60, Wynberg, Gauteng, 2090
Land Area 3718 Sqm in extent.
Title Deed No T1648/2011
Tenure Freehold
Municipal Authority City of Johannesburg

Zoning Information
Address 722 Pretoria Main Rd, Wynberg, Sandton, 2090
Zoning Buisiness 1


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

Contact Fabio

Henry Playne

Transaction Advisor

Contact Henry