Commercial - Retail on Auction in Hanover Park

Description

LIVE & ONLINE AUCTION Auction Time & Date: Wednesday 8 July 2026 @ 12:00 Registration: Online & On-site at the Auction Venue. Venue: The DHL Stadium, Business Lounge G, Fritz Sonnenberg Road, Green Point, Cape Town For more information, please contact the listing agent. DESCRIPTION: This prime property is situated in the hub of Hanover, within walking distance and surrounded by the local community. This is the main shopping centre in the area, which makes this an investment opportunity. • GLA: Total GLA - 2910m² • ATM - Vacant 8m² • ATM - Vacant 8m² • Shop 1 - Takeaways 102m² • Shop 2 - Shoprite 2353m² • Shop 3 - Cell phone shop 61m² • Shop 4 - Vacant 106m² • Shop 5 - China shop 123m² • Shop 6 - China shop 149m² Net Annual Income – ±R1,909,941.00 per annum Full rent schedule and recoveries available. ANCHOR TENANT: • Shoprite • Rental – ±R144,703.00 per month • Escalation 5% • Been there since 2005 • Lease renewal 2032 • Pay all utilities on own account • Shoprite is busy appointing a contractor for solar TENANTS: • 6 Line shops • 1 Vacant – potential rental ±R14,000 per month • 10% Escalation • Rental – ±R38,844.00 per month • Potential rental – ±R52,844.00 per month • All prepaid electricity • Recoveries VAT entity. DETAILS: • Erf no: 114322, Cape Town • Erf size: 3196m² • Zoning: General Business 1 PAYMENT TERMS: 2.5% Deposit & 10% Auctioneers' fee (excl. VAT on fee); Payable on the fall of the hammer by means of EFT only. Balance payable on transfer. REGISTRATION REQUIREMENTS: To bid at the auction, you need to provide a copy of your identity document and current proof of residence (not older than 3 months), as well as a R25,000 refundable registration fee. Registration fee payable via EFT only, no card payments allowed. Registration will be available online as well as on site on the day of the auction. Registration at the venue will be open from 10:30. 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 Auctioneers. Bidders must conduct their own investigations prior to bidding.