Commercial - Retail for Sale in Oakdale

Description

Portfolio Disposal - Accepting Offers. This B-grade retail convenience centre offers investors a steady positive cash flow income with maximum upside potential through redevelopment or value-add capex and re-tenancy. Currently, the property is free-standing with high visible exposure to both footfall and traffic, located on one of the busiest intersections in Boston. Major transport routes such as Frans Conradie, Willie Van Schoor, and the N1 highway surround the site. Nearby landmarks include Jack Muller Park, Middestad Mall, Stellenbosch Business School, Tyger Waterfront Office Park, Bellville Magistrates Courts, and Primary and Secondary Institutions. Key Metrics: • GLA of 1,438m² • Net Income = ±R2,836,147 p.a • Current net yield = 10.13% • Tenant Mix = Education centre, Tyre Fitment, Consumer services, Health retailer, and Food retailer • Vacancy level = 100% Occupied building. Secured leases in place with long-standing established tenants. Upcoming lease renewal periods (from 2027 - 2030). • Lease escalations = Avg. 6%-10% p.a Bulk Redevelopment Potential: • Floor factor = 2.5 • Max height = 25m • Coverage ratio = 100% • Permissible & consent uses = residential block of flats, shopping centre, hospital, hotel, filming studio, entertainment, conference centre, place of worship or assembly, storage and parking garages, warehousing, and service/petrol station, to name a few. Any development or change in usage will require proper submissions to the relevant council authorities for approval. Bonus value adds include solar installation, digital advertising and signage, improved A-grade tenancy, bulk additional residential apartments for sectional title, energy-efficiency initiatives, etc. DETAILS: • Erf size: 2093m² • Zoning: General Business 3 DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.