Multi-Asset Class Portfolio | Retail | Tender
The subject property is situated in the Savoy precinct, a large residential area on the periphery of Melrose Arch. The property is located along Pretoria Main Road, a significant transport route dissecting central Wynberg, Savoy and the Highlands North area. The road network links Sandton, Wynberg, Savoy, and provides access to highways in the West which connects to the Johannesburg CBD in the South. The subject property is located near several bus stops and taxi ranks, making it easily accessible for those using public transport. The Nando’s Savoy has excellent visibility from Pretoria Main Road, and its newly built drive thru makes it an excellent destination for customers in the Savoy Area.
The building comprises 375 square metres of net lettable area with a total land area of 1 487 sqm. It has been refurbished to the tenants’ specifications providing restaurant service space, deep freeze storage space, smaller management offices and the kitchen on the ground floor. Parking is provided for walk in customers, with the entrance to the property and drive thru from Louis Botha Avenue. The first floor contains amenities and toilets for staff. The property features a large concrete drive through wrapping around the building which is placed centrally within the boundaries of property.
|Tenant||GLA (m2)||Rate (R/m2)||Starts||Expires||Esc %|
Tenant - Nando's
Nando’s is a large restaurant and fast-food chain specializing in chicken. At present Nando’s operates over 1,200 outlets in over 30 countries.
Tenant - Courier Guy
The Courier Guy provides national and international express services across the globe from South Africa. At present they operate over 170 nationwide Kiosks.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 1 324 620|
|Recoveries (Operating Costs)||R 1 127 133|
|Gross Income||R 2 451 752|
|Operating Expenses||R 1 159 152|
|Forecast Net Operating Income||R 1 292 601|
|Registered Owner||Postan Developments (PTY) LTD|
|Legal Description||ERF 131, Savoy Estate Township, Gauteng Province|
|Land Area||1487 Meters Square in extent|
|Title Deed No||T56702/2016|
|Municipal Authority||City of Johannesburg|
|Address||555 Louis Botha Ave, Savoy, Johannesburg, 2090|
|Floor Area Ratio (FAR)||0.8|
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 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