Property features

R17 500 000

Property Details

WELL KNOWN AND POPULAR NEIGHBOURHOOD CENTER ! BOASTING WITH A SHOPPING CENTER COMPONENT ASWELL AS 26 RETAIL OUTLETS ! (x2 STANDS) AMPLE OPEN PARKING AREA WITH A CAR WASH COMPONENT ! UNUSED PERMITTED BUILDIING AREA - BULK SERVICES AREA 2000SQM CURRENTLY SERVICING THE LOCAL COMMUNITY - WITH A MASSIVE NEW HOUSING DEVELOPMENT UNDER WAY (JUST 170m AWAY) - OF 3500 HOUSES, SCHOOLS AND A IN THE PIPELINE ! (SERVICES BEING INSTALLED PRESENTLY) / LOCATED ON A DOUBLE STAND: ERF 1: 4150SQM WITH A GLA OF 2100SQM ERF 2: 8874SQM WITH A GLA OF 3200SQM Potential and Current Income: Supermarket GLA 2100sqm @ R50 R1.2m pa - Currently there is a Independent Supermarket utilizing 50% of total floor space (recent 5yr lease at R36 000pm) Aprox 1100sqm still available to Let. Retail stores (25 Units) GLA 3200sqm @ R60 R2.3m pa - Currently x 1 Store Vacant - Total monthly Income 24 stores only R215 000pm Fully Let Operating Expenses R1.1m pa Less 10% Vacancy Potential Net Income per annum R2,5m pa Municipal Expenses - Current: R36 000pm (excl recoveries) Total Current Gross Income (incl recoveries) R215 000pm ***************************************************************** ***************************************************************** ENDLESS POSSIBILITIES: Opportunity to Increase current yield with many options i.e: 1. POSITION THE CENTRE to provide for BASIC needs of the community: AFFORDABLE FOOD, AFFORDABLE SPECIALIST SERVICES or AFFORDABLE ACCOMMODATION. 2. INCREASE THE GROSS LETTABLE AREA of the property with new shops or alternatively apartments – THERE IS AMPLE SPACE FOR THIS ! 3. Provide destination services that SUPPORT THE MEGA HOUSING PROJECT residents. Ekurhuleni approved and announced the new Mega Housing Project -Van Dyk Park Ext 2 Featuring High, Medium and Low- Density Housing just 170m from this Super Market location ! A massive Increase in demand from Shoppers and Tenants is expected Water pipe infrastructure being installed presently, roads will follow. The Savvy Investor will seize this opportunity and unlock its Incredible potential ! ****************** Price Excl VAT *************************** Call us TODAY to discuss this opportunity and for more details.