Multi-Asset Class Portfolio | Retail | Concurso
The property is situated in the Thembisa township along Olifantsfontein Road. The catchment area is densely populated and has an abundance of public transport users who utilize Olifantsfontein Road as their central transport point. Olifantsfontein road is a prominent transport node dissecting Thembisa and linking the precinct with Midrand to the West. There is easy access along Olifantsfontein Road to the R21, and the R101 providing excellent access to the wider area. Access to the property is found on Madiba Drive, a major road off Olifantsfontein Road. Madiba Drive further provides access to central Thembisa making the property optimally located to target both the local Thembisa neighbourhoods, and the larger catchment area.
The building comprises 1, 642 square metres of land, all of which is currently in use by the sole tenant, P&L Hardware. It has been refurbished to the tenants’ specifications providing a large rectangular warehouse space for the tenant. The back end of the building features a smaller room linking the back paved area to the building, currently used for the arrival and distribution of materials. The entrance to the property is provided from Madiba Drive and access for trucks at the back of the property is provided through the back gate on the same road. There is a large fenced off parking for customers in the front of the property, currently also used for the storage of building supplies.
Tenant - P&L
P&L is a hardware store and building materials supplier. P&L Hardware has 53 stores nationwide and was acquired by Cashbuild in 2016.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)
|R 1 260 503
|Recoveries (Operating Costs)
|R 137 167
|R 1 397 670
|R 169 102
|Forecast Net Operating Income
|R 1 228 569
|Thabiletrade 1062 (Pty) Ltd
|ERF 2575, Tswelapele Extension 5 Township, Gauteng
|Title Deed No
|Ekurhuleni Metropolitan Municipality
|C/O Olifantsfontein Road, Madiba Dr, And, Tembisa, 0000
|Floor Area Ratio (FAR)
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