Boxer Senaoane - Mabalane Street & Komati St, Senaoane, Soweto, 1818, South Africa

Detalhes

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 2 003 921 Net Operating Income for 12 months beginning 1 September 2023

Location and Access

The subject property is located along Mabalane Street, which serves as the main transportation route through Senaoane, a prominent residential neighbourhood located in central Soweto. The property benefits from its prime location with great visibility and convenient access from the front side, facing Mabalane Street. This thoroughfare serves as a significant artery that links the Dlamini precinct to several surrounding suburbs, including Mapetla and central Moroka. Additionally, the M68 is easily accessible from Mabalane Street, providing a seamless commute to central Soweto and the N12 offramp. Given its strategic location, the property enjoys a substantial catchment population with excellent visibility and access.

Asset Description

The building is well-maintained and boasts exceptional levels of internal finishing, creating an inviting atmosphere for prospective clients. Parking is available on the front side of the building along Mabalane Street. Delivery access is situated on the side of the building, where a large antenna is located. The primary structure of the building is occupied mainly by the Boxer and OBC stores, with several permanent and temporary ATMs positioned at the entrance of the Boxer and Boxer liquor. To the right-hand side of the primary building, there is a large drive-through KFC. The property enjoys outstanding visibility and accessibility. Additionally, the roof features a large solar array, providing backup power.

Tenant Information

Boxer Superstores

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

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.

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.

OBC Group

OBC Chicken and Meat was established in 1987 and currently trades through a national network of over 50 stores throughout most regions of South Africa.

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