Multi-Asset Class Portfolio | Retail | Tender
The property is situated in the Lyndhurst suburb, one of a number of residential suburbs on the periphery of Sandton, between the M1 and the N3 motorways. It fronts onto Johannesburg Road, a four lane, significant transport route dissecting central Lyndhurst, connecting to the M11, Highlands North precinct and M1 to the West and the R25, Longmeadow Industrial Estate and the N3 in the East.
Two entry/exit points from Johannesburg Road provide easy access to both the petrol station and the KFC drive through, with a service road to the rear of the station providing an extra exit point for the KFC facility.
The property comprises a 2 605 m² site set up as a petrol station with a convenience store, ancillary amenities and forecourt. It has been refurbished to the tenants’ specifications providing retail and filling station workspace. The 240 m² retail building features a Fresh Stop, Seattle Coffee, a Nedbank ATM along with customer and employee amenities. Adjacent to the petrol station there is a purpose-built double storey, KFC drive through which shares the site. There is a generator providing backup power.
|Tenant||GLA (m2)||Rate (R/m2)||Starts||Expires||Esc %|
Astron – Caltex
Astron-Caltex is part of the Chevron Corporation, an American multinational energy corporation, headquartered in San Ramon, California, and active in more than 180 countries. It is one of the largest companies in the world and the second largest oil company based in the United States by revenue, ranking 16th on the Fortune 500 in 2022 with revenues of US$162.5 billion.
KFC (Kentucky Fried Chicken)
KFC is an American fast food restaurant chain headquartered in Louisville, Kentucky, that specializes in fried chicken. It is the world's second-largest restaurant chain with over 27,000 locations globally, in 150 countries. It is South Africa’s largest and most popular QSR (Quick Service Restaurant) chain.
Nedbank is a South African financial services group offering a wide array of banking services including insurance, asset management, and wealth management.
|Net Income Forecast (1 Sep 23 – 31 Aug 24)||TOTAL|
|Rental||R 2 662 872|
|Recoveries (Operating Costs)||R 1 786 395|
|Gross Income||R 4 449 267|
|Operating Expenses||R 1 893 030|
|Forecast Net Operating Income||R 2 556 236|
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