Tsele Centre - Moliwa St, Moletsane, Soweto, 1868, South Africa

Einzelheiten

Investment Highlights

• Strong national tenants – Boxer, a national brand with a portfolio of over 280 stores
• Established location within its community in Soweto, Johannesburg
• R 3 430 546 Net Operating Income for 12 months beginning 1 September 2023

Location and Access

The property in question is situated at the intersection of Moliwa and Maphango Street. It is adjacent to the busy Merafe train station, which serves the districts of Mapetla, Tladi, and Moletsane in Soweto. The property boasts excellent visibility and easy accessibility from both Moliwa and Maphango Street. A large general parking area, situated along Maphango Street, serves the center, neighboring shops, and the train station. Quick access to the M72 from the surrounding road network makes for an easy commute to the Soweto city center and the M68. Moliwa Street provides easy access to nearby residential neighborhoods such as Sharpville. The property's direct catchment area is home to a large population, making it a strategically positioned location with excellent visibility and accessibility.

Asset Description

The building offers a lettable area of 2,767 m2, with current occupancy standing at 94%. It is meticulously maintained and features exceptional internal finishing. Parking is available on the front side of the property, facing Maphango Street, as well as in a large general parking lot located on the adjacent side of the same street. It also features a large central courtyard that provides a bright and lively atmosphere. All tenants face this courtyard, which provides great natural light to all shop fronts. There is a broad selection of ATMs available on-site, and the bulk of the building is occupied by the Boxer and Boxer Liquor stores.

Largest tenants by income

All lease renewals within the next 12 months have indicated an intent to renew and are under negotiation.

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.

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 15th June 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