Commercial - Retail for Sale in Port Alfred Central

Description

Accepting Offers. DESCRIPTION: Income-Generating Mixed-Use Commercial Block—Port Alfred's Hidden Gem. Price guide: ±R22,000,000 - ±R23,650,000 (excl. VAT) Situated right in the heart of Port Alfred along the Kowie River bank, this consolidated property is spread over two ervens, consisting of 5 units on portion A & 9 units on portion B. Fully occupied by long-standing reputable tenants, this property offers investors and owners alike a very solid income-generating asset that continues to grow and maintain its established reputation within the region. Within close distance from central Port Alfred, West & East beaches, religious places of worship, the Port Alfred River & Ski boat Club, and the country club & cricket field, to name a few. Note - Property is sold as is "voetstoots." In-house sales, letting & development services for investors or developers looking to flip capital or secure leases or redevelop. NDAs will be required for any financial or business disclosures. Exclusive commercial finance can be arranged. KEY INFORMATION: • Total GLA estimate - 2,755 m² • Occupied GLA - 1,766 m² • Anchor Tenants—MyPond Hotel (4-star luxury hotel) & Ocean Basket (national tenant) • Tenant Mix—Hospitality, Retail, Office, Medical/Health, Food, and Professional and Financial Services • Vacancy - Only structural vacancies held under leases. (Effective property fully let) • WALE - 2.7 years • Gross Yield - 16.7% • Net Yield - 9.4% • Gross Profit -±R3.7 million per annum • Net Profit -±R2,065 mill per annum (recoveries incl.) • Average rental escalation—7% per annum • Leases are triple-net agreements • VAT-applicable transaction View by Appointment. Contact Sachin & Rob for more info or OTP. DETAILS: • Erf size: 3575m² 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.