Multi-Asset Class Portfolio | Retail | Tender
The property is situated in the Fabricia industrial precinct fronting Fabricia Road which connects to the N8, the main transport link to Bloemfontein in the southeast and, the Kimberley CBD to the north. There is easy access from the N8 to the resulting network of motorways including access to greater Kimberley, and the Kimberley CBD. The immediate catchment area consists of a large residential population, the industrial district, civic centre district, and smaller commercial nodes.
The building comprises 9,792 square metres of net lettable area, refurbished to the tenants’ specifications. It provides retail and related workspace on the ground floor, with a large incoming goods yard in the back, accessible from Fabricia Road. The building presents an eye-catching low maintenance façade with high frontside visibility from Fabricia Road. Customer access is from the same road, from which customers can access the street carpark.
|Tenant||GLA (m2)||Rate (R/m2)||Starts||Expires||Esc %|
|Buco City||9 792||16.23||01/07/2023||30/06/2026||6|
Buco, or the “Building Company” is a South African company focused on selling building materials and associated products including hardware, electrical and plumbing products directly to mainly cash paying customers. Buco is owned by the same holding company as Timber City and is visible in many Buco retail stores.
|Net Income Forecast (1 Sept 23 – 31 Aug 24)||TOTAL|
|Rental||R 1 926 322|
|Recoveries (Operating Costs)||R 1 345 694|
|Gross Income||R 3 272 016|
|Operating Expenses||R 1 458 578|
|Forecast Net Operating Income||R 1 813 438|
|Registered Owner||Perele Investments (Pty) Ltd|
|Legal Description||ERF 42639, Kimberley, Province of the Northern Cape|
|Land Area||9,792 square metres in extent|
|Title Deed No||T3240/2020|
|Municipal Authority||Sol Plaatje Municipality|
|Address||24 Fabricia Road, Fabricia, Kimberley|
The seller is registered for VAT (Value Added Tax). All offers will be exclusive of VAT at a rate of 0%.
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.
Interested parties are invited to provide their offers to:
Fabio Nava at firstname.lastname@example.org
Henry Playne at email@example.com
BY NO LATER THAN 12H00, THURSDAY 18TH MAY 2023.
All communications regarding the Sale Process and/or the Property should be directed to the Seller’s exclusive Advisors:
+27 82 585 2498
+27 72 763 4090
Director: Capital Markets - Advisory & Transaction Services