Commercial - Retail for Sale in Wellington North

Description

Accepting Offers. DESCRIPTION: This prime property retail centre is situated in booming Wellington and right in the hub of the city centre. Anchored by Pep and 10 other stores makes this the ideal centre to manage and own as the sellers completely run it themselves. NDA is required to receive rent roll, expenses, etc... PROPERTY: • GLA - ±1323m² • Zoning – Business 1 • 12 Secure open bays • 10 Secured covered bays • PEP as anchor tenant • 10 other stores • Fully let • Solid tenants • Some tenants been there since 2005 • Rental is below market value – ±R132/m² PURCHASE: • VAT entity – can zero rate the transaction • Purchase company as another option • Majority expenses are recouped • Asset value ±R21 000 000 • NOI: ±R1.18 million per annum (VAT Excl.) • Current gross monthly income: ±R155 000 (VAT Incl.) DETAILS: • Erf size: 2934m² 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.