Boxer Alexandra - 1st Avenue & Chadwick Avenue, Wynberg, Sandton, Gauteng, 2090, South Africa

Einzelheiten

Investment Highlights

• Strong national tenants – Boxer, a national brand with a portfolio of over 280 stores.
• Established destination within its community attracting residents from catchment areas that include Wynberg, Marlboro and Alexandra.
• R 4 945 658 Net Operating Income for 12 months beginning 1 September 2023.
• High visibility from Pretoria Main Road, a major transport artery.
• Solar panels are present on-site providing backup power.

Location and Access

The subject property is located along Pretoria Main Road, the main transport route dissecting Wynberg and Alexandra, an industrial area on the periphery of Sandton. The property enjoys excellent visibility and is easily accessible from both 1st Avenue and Chadwick Avenue. Pretoria Main Road is a major arterial route that connects Wynberg with multiple surrounding suburbs. Quick access to the N1 from the supporting road network provides an easy commute to the Johannesburg city centre and Sandton, while 1st Avenue provides easy access to nearby residential neighbourhoods such as Alexandra and Kew. The large population in the properties direct catchment makes for an ideally placed location with excellent visibility and access.

Asset Description

The building features 3 336 sqm of lettable area, all fully tenanted. The property is well maintained and boasts excellent levels of internal finishing, cultivating a welcoming environment for potential clients. Parking is found on 1st Avenue, with access to additional parking up a large ramp to the second level of the building. The second level retail includes a carwash and store fronts to several of the tenants including AvBob. The anchor tenant (Boxer superstores) occupies the majority of the ground floor along with its accompanying Boxer liquor store. Several ATM’s have been added to the building. Both visibility and access are excellent. The roof is covered with a large solar array providing backup power.

Largest tenants by income

Tenant Information

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.

AvBob is Africa's largest mutual assistance society, providing funeral and burial services.

The South African Post Office is the national postal service of South Africa. Legally the Post Office is the only entity that is permitted to take in reserved mail.

Financial Information

Ownership Structure and Zoning Information

VAT

The seller is registered for VAT (Value Added Tax). All offers will be exclusive of VAT at a rate of 0%.

Sales Process

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.

• Purchase Price for the Property, based on the Net Operating Income and an acquisition yield;
• A description of your company as the proposed purchaser and a reference list of similar retail transactions completed;
• Evidence of the prospective purchaser’s financial ability to complete the transaction, including the method of financing the purchase;
• Terms and conditions of closing;
• Schedule of timing and events to complete closing;
• A summary of all internal and external consents required to proceed with the contemplated transaction and a list of any other conditions to signing and completion;
• A completed LOI, in the format provided by the seller; and
• FICA documentation for the Purchaser.

Submission Date

Interested parties are invited to provide their offers to:

Fabio Nava at fabio.nava@cbreexcellerate.com

and

Henry Playne at henryplayne@qando.co.za

BY NO LATER THAN 12H00, THURSDAY 18TH MAY 2023.

Exclusive Advisor

All communications regarding the Sale Process and/or the Property should be directed to the Seller’s exclusive Advisors:

Fabio Nava

+27 82 585 2498

fabio.nava@cbreexcellerate.com

Henry Playne

+27 72 763 4090

henryplayne@qando.co.za