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Hillbrow Shoprite - Banket Street & Pretoria Street, Hillbrow, Johannesburg, 2001, South Africa

Multi-Asset Class Portfolio | Retail | Tender


Investment Highlights

  • Strong national tenants – Shoprite, the largest South African retailer by market capitalisation, sales, profit, number of employees and customers.
  • Established destination location in Hillbrow.
  • R 4 544 651 Net Operating Income for 12 months beginning 1 September 2023.
  • Local catchment area provides for strong trading density.

Location and Access

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.

Asset Description

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.

Largest Tenants by Income

Name GLA (m2) GLA % Expiry Date Annual Rental (R) Rate (R/m2) % Income
Shoprite 2020 57.59 09/02/2028 2,545,200 105.00 63.97
Power fashion 262 7.47 31/08/2024 554,602 176.40 13.73

Tenant Information

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.

Financial Information

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

Ownership Structure and Zoning Information

Ownership Details
Registered Owner Zagnoev Properties CC
Registration No. 2010/050166/23
Legal Description ERF 4417, Johannesburg Township, Gauteng Province
Land Area 2160 Square Meters
Title Deed No T31262/2012
Tenure Freehold
Municipal Authority City of Johannesburg

Zoning Information
Address Cnr Banket and, Pretoria St, Hillbrow, Johannesburg, 2001
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