Multi-Asset Class Portfolio | Retail | Tender
The subject property is located on the corner of Pretoria Street and Banket Street in Hillbrow, Johannesburg. Pretoria Street acts as one of the main transport route in central Hillbrow with the location ideally positioned for the greater Hillbrow catchment area. The subject property has easy access to the Johannesburg CBD, whilst the Hillbrow taxi rank provides excellent public transport within walking distance of the subject property. The surrounding area is densely populated with most of the local population able to access the property by foot.
The property enjoys excellent visibility and is easily accessible from both Pretoria Street and Banket Street where customer can park. Pretoria Street is a bustling Street which dissects Hillbrow and links the property to the main road network of Hillbrow, and the Johannesburg CBD. The large population in the properties direct catchment makes for an ideal location with great visibility and access.
The building comprises 3 508 square metres of net lettable area. The property is composed of two floors with the majority of the ground floor currently occupied by Shoprite. Multiple local businesses occupy the remaining lettable space, cultivating a community feeling on the busy street corner in which the property sits. 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.
|Name||GLA (m2)||GLA %||Expiry Date||Annual Rental (R)||Rate (R/m2)||% Income|
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.
Power Fashion was founded by the Otto family in Swaziland in the 1950s. The chain has 170 stores across the Southern African region including Swaziland, South Africa, and Lesotho.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 5 158 961|
|Recoveries (Operating Costs)||R 3 702 766|
|Gross Income||R 8 861 727|
|Operating Expenses||R 4 317 076|
|Forecast Net Operating Income||R 4 544 651|
|Registered Owner||Zagnoev Properties CC|
|Legal Description||ERF 4417, Johannesburg Township, Gauteng Province|
|Land Area||2160 Square Meters|
|Title Deed No||T31262/2012|
|Municipal Authority||City of Johannesburg|
|Address||Cnr Banket and, Pretoria St, Hillbrow, Johannesburg, 2001|
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 firstname.lastname@example.org
Henry Playne at email@example.com
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