Viable shopping centre for sale in A-income area in Cape Town.

Viable shopping centre for sale in A-income area in Cape Town.

Introduction:

• It is not very often that a shopping centre like this is listed on the market- it is a well maintained shopping centre, situated in the northern suburbs of Cape Town.
• It has 10 very stable tenants in the centre, with some anchor tenants like a supermarket group etc.
• The rest of the tenants serves in the needs of the local neighbourhood with shops like cell phones, butchery, restaurant, bar, laundry, liquor store etc.

Financials:

• The tenants are all on different escalation rates according to the square meters of the shop- the escalation thus differs between 5% to 10%.
• The income at this stage on the shopping centre is R130,000 per month.
• The average R/sq meters earned is R117/sq meter.
• All leases are in place and expiry dates on these leases vary from July 2022 to May 2030.
• Monthly rates charge on average is about R9500.
• More information is available to an interested buyer.