Multi-Asset Class Portfolio | Retail | Tender
The property in question is situated at the intersection of Moliwa and Maphango Street. It is adjacent to the busy Merafe train station, which serves the districts of Mapetla, Tladi, and Moletsane in Soweto. The property boasts excellent visibility and easy accessibility from both Moliwa and Maphango Street. A large general parking area, situated along Maphango Street, serves the center, neighboring shops, and the train station. Quick access to the M72 from the surrounding road network makes for an easy commute to the Soweto city center and the M68. Moliwa Street provides easy access to nearby residential neighborhoods such as Sharpville. The property's direct catchment area is home to a large population, making it a strategically positioned location with excellent visibility and accessibility.
The building offers a lettable area of 2,767 m2, with current occupancy standing at 94%. It is meticulously maintained and features exceptional internal finishing. Parking is available on the front side of the property, facing Maphango Street, as well as in a large general parking lot located on the adjacent side of the same street. It also features a large central courtyard that provides a bright and lively atmosphere. All tenants face this courtyard, which provides great natural light to all shop fronts. There is a broad selection of ATMs available on-site, and the bulk of the building is occupied by the Boxer and Boxer Liquor stores.
|Name||GLA (m2)||GLA %||Expiry Date||Annual Rental (R)||Rate (R/m2)||% Income|
|Mr Alemu T Haile||116||4||31/03/2024||21,266||183||6|
|Duchefs Fish And Chips||100||4||30/11/2025||12,000||120||5|
All lease renewals within the next 12 months have indicated an intent to renew and are under negotiation.
Boxer Superstores are a chain of large grocery and supplies stores. Boxer is a national brand with a portfolio of over 280 stores nationwide.
Boxer Liquor is a chain of liquor stores usually accompanying a Boxer Superstore. They specialize in liquor stores which target densely populated areas providing spirits and other alcoholic beverages.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 4 240 847|
|Recoveries (Operating Costs)||R 1 930 944|
|Gross Income||R 6 171 791|
|Operating Expenses||R 2 741 245|
|Forecast Net Operating Income||R 3 430 546|
|Registered Owner||Zagnoev Properties CC|
|Legal Description||ERF 2228, Moletsane Township, Gauteng Province|
|Land Area||3 735 Square Meters|
|Title Deed No||T44497/2012|
|Municipal Authority||City of Johannesburg|
|Address||Moliwa St, Moletsane, Soweto, 1868, South Africa|
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 15th June 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