Commercial - Retail for Sale in Kwazakhele

Description

Accepting Offers. DESCRIPTION: Multi-Tenanted Rural Retail Shopping Centre—Massive Upside Potential To Be Unlocked. Ibhayi Shopping Centre has long-standing history servicing the local community in KwaZakele, Port Elizabeth. Maintaining steady occupancy levels from national and local tenants, there is massive opportunity to uplift the building and boost the profile. Located directly opposite the Isaac Wolfson Stadium, & Daku Community Centre. Within close proximity of educational institutions, religious places of worship, and other recreational parks. Note - Property is sold as is "voetstoots". In-house sales, letting & development services for investors or developers looking to capital flip or secure leases or redevelop. NDA's will be required for any financial or business disclosures. Exclusive commercial finance can be arranged. Key Information: • Zoned: Business • GLA estimate 1,720 sqm • Consists of 12-17 units, single level structure, 54 Parking Bays • Tenancy Mix - Shoprite Usave (Anchor), Picardi Liquor, Nedbank & FNB ATMs, Motor spares, Fast foods, Cellular store, etc • WALE - 3.2 years • Vacancy - ±18% • Utilities - Electricity (Eskom), Municipal Water, Recoveries - Operating costs mostly recovered from tenants • Security - CCTV, perimeter fencing & guards on duty. • Access - Solid foot traffic from local township catchment area. Public transport drop & go spot for direct pedestrian access. Potential Upsides: • SDP Revision available - Additional bulk to extend GLA • High visibility node - Signage installations for advertising revenue • Potential solar installations • Capital growth optimisation via re-tenanting or re-negotiation of leases View by Appointment. Contact Sachin & Rob for more info or OTP. DETAILS: • Erf no: 50124, Ibhayi • Erf size: 3789m² 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.