Viable shopping centre in excellent location for sale.

Viable shopping centre in excellent location for sale.

Introduction:

• This is a rare opportunity to fully own a shopping centre in a seaside town in the Western Cape.
• This centre has been a beacon in this seaside town for many years and is supported not only by local residents but also by weekend visitors and international tourists who are renowned to have their holidays from February to April every year and thus the tourism season in this town is extended beyond the usual SA school holidays.
• This centre is surrounded by residential neighbourhoods and office blocks who support this centre with their various national brand tenants with proven track records.
• The tenants all have long lease contracts thus ensuring a constant flow of monthly rental income.
• The two-story building has 3357 square meters of rentable space, and 24/7 armed security is provided with armed response.

Financials:

• The rentable area of 3357 square meters (this includes passages/centre management offices/toilets etc.) are rented out at an average of R219/sq meters, giving a total rental income of R5,754,000 per annum.
• Average escalation is 7% per annum which is above the national inflation rate.
• Full income and expenses statements are available to interested buyers, subject thereto that such buyers supply the seller with a brief description of himself/herself/business experience plus proof of unencumbered cash.

Selling price:

• R70 million (negotiable and subject to agreed valid valuations received