Details

Investment Summary

• Currently let to multiple tenants including Ackermans, Pep Stores and Shoprite
• Gross Lettable Area [9,482.24m²]
• Purchase Price R116,900,000
• Net Annual Income R 11,390,423 [March 2024 – February 2025]
• Rental Guarantee 2 years on selected vacant units.
• Value Add Value uptick on select vacant units

Location

Metropolitan Centre is situated in the heart of Polokwane Central. It has quick access to Kerk St, Thabo Mbeki Street and Grobler St. It is also only a short distance away from the N1.

Building Description

This double storey property has retail stores on the ground floor and offices on the 1st floor.

Erf Description

ERF 6050

Landowner

Momentum Metropolitan Limited

Lettable Area

9,428.24m² of GLA

Occupancy Profile

Shoprite FirstRand Bank Metrofin Finance Fundi Capital Good Knight Bedding Kimmy Foods Favour & Grace- Mk Green Recycles Tzaneen Tombstones Rinde's Trading Enterprise Mafokoane Optometrist Shoprite Liquor Hobby Studio- Arsheen Enterprises King Pie Dr M T Makhomisane Drs Khoza And Mathebula Abu Stone Mediserv Pharmacy Ackermans Pep Stores Metropolitan Vodacom Churiso Holdings

Rental Guarantee

Seller has included a 2-year rental guarantee on select vacant units.

Net Annual Income

R 11,390,423 (March 2024 – February 2025)