It consists of a massive corner-to-corner stand with eight tenants, including the lucrative fuel station, with rental agreements with a variety of reliable tenants ranging from one to five years.
The property, on 3 825m², consists of office space, workshops , forecourt, store-room and generator back-up. The property is zoned for Business 1, with 70% coverage and six parking pays per 100m².
The filling station is privately-owned, trades from 06:00 to 21:00 weekly and supplies petrol, diesel and paraffin, with no contracts or agreements with any oil company.
According to Aucor’s Ari Ben, the service station has exceptional investment potential. “Filling stations have proven to be resilient in today’s economic climate and demand for this property class is as strong as ever. It’s also possibly the cleanest unbranded site in the country.”
“The profit margins on the fuel are excellent because it is a privately owned site so margins can be negotiated with suppliers,” Ben says.
He says that the property generates a net income of approximately R160 000,00 per month, with fuel sales of 200 000l p/m being a major contributor to turnover.
Included in the sale is the convenience store which opened in October 2008. It trades from 06:00 to 21:00 seven days a week and has shown a clear profit since the beginning of the year.
The sale of the convenience store includes all stock and assets to the value of R120 000,00.
Ben adds that the property is situated along the main road in Dunnotar, predominately a residential area adjacent to Springs and Nigel.
It is close to all major amenities including shopping centres, schools, medical facilities and a police station.
There is also a large-scale housing development underway due for completion shortly.
The auction takes place on Wednesday 30 September at 10:30 at the Inanda Club, Forrest Road, Inanda, Sandton.
