Bult Boulevard - Potchefstroom - For Sale
Property Location:
The property is located in Die Bult, Potchefstroom. Close to North-West University, Die Bult is a popular suburb for students.
Property Details:
The property is a Retail / Shopping Centre and it is graded as "Local Convenient Centre"
The erf size is 4,323.00 m2
The building size is 1,880.00 m2
There is a Shell filling station adjacent to the shopping centre but its NOT included in the Sale & does not belong to the mall owner.
Development has the following number of parking bays:
Open Parkings - 60
Covered Parking - 6
The power available on the property is Council power via Pre-Paid Meters for the tenants as well as a 100 KVA generator & grid-tied direct solar system. Solar power is sold to the tenant.
Zoning:
The property is Zoned Business 3 & is Zoned, Serviced and Proclaimed
Tenants:
Building 2
Music Café - 490m2 - 10 yrs expire 2027 (renewal lease in progress for another 10 years)
Building 3
Amarex Couriers 165m2 - 5yrs expire 2027
Music and More 168m2 - 4 yrs expire 12/2025
3% estate agents 49m2 - 3+1yrs expire 12/2025
Building 4
Pivot Dance School 112m2 - 3 year expire 2027
RR Insurance 39.4m2 1 + 1 yrs expire 12/2025
Maroccon Barber Shop 81.4m2 - 3 year expire 2026
Daisy North West 118.5m2 - 3yrs Expire 2026
Uno Vape Shop 81.4m2 – 3yrs Expire 2026
Building 5
Plumb Link 324.5m2 - 6 yrs expire 2026 (This is their flagship store so will definitely renew lease)
The Music and More shop can be divided in half - So opportunity for another tenant. Currently paying for half the space but using full space. - An additional 120K per annum income.
Financial Details:
Income -
Rental Income R 269 686.00
Solar Income R 43 478.26
Total Monthy Income R 324 110.42 (Excl)
Expenses -
Rates R 18 325.34 (inlciding common water and sewer)
Insurance R 5 826.00
Cleaning Material R 1 200
Cleaing Lady R 4 000
Local Neigbourhood security R 1 200
Waste paper Collection R 1 200
Notes on expenses:
Tenant Electricity on pre-paid meters - Power is sold via tokenns - Solar power is fed back to tenants, inlcuded in the Income above
Tenant Water for own accounts
For Sale:
The property is sold at a 10.5 % yield which gives an asking price of R 31.8m - Vat Excluded
P00005775
